The Nigerian Interbank Settlement System (NIBSS) is a critical financial infrastructure institution responsible for enabling seamless electronic payments and settlements across Nigeria’s banking system. Incorporated in 1993 and commencing operations…
In a significant move to bolster national security and safeguard critical digital assets, the Nigerian federal government has officially designated the Nigeria Inter-Bank Settlement System (NIBSS), Bank Verification Number (BVN),…
CEM REPORT, ECONOMY| Nigeria’s Point of Sale (PoS) landscape is experiencing a boom, with the number of deployed terminals reaching 2.7 million in March 2024, according to the latest data…
CEM REPORT, FINANCE| Nigeria, Africa’s most populous nation, is experiencing a double-edged sword: a boom in electronic payments coupled with a sharp rise in financial fraud. Fueled by the rapid…
CEM REPORT, FINANCE | In a groundbreaking move to safeguard the booming mobile money market, Nigeria is deploying a high-tech weapon against fraudsters: AI-powered Point of Sale (PoS) terminals with…
From Empty ATMs to Soaring Digital Transactions: Nigeria’s Cash Crunch Reshapes Financial Landscape CEM REPORT, FINANCE | A new report from KPMG paints a startling picture of Nigeria’s financial landscape…