Nigeria Inter-bank Settlement System Plc - Abuja

Established in 1993, Nigeria Inter-Bank Settlement System (NIBSS) Plc. is owned by all licensed banks, including the Central Bank of Nigeria (CBN). It began operations in June 1994 and has implemented modern, world-class infrastructure for inter-bank payments in order to eliminate any possible hindrances associated with inter-bank funds transfer and settlement. Additionally, NIBSS operates the Nigeria Automated Clearing System (NACS) which enables the electronic clearing of cheques and other paper-based instruments, automated direct credits and automated direct debits. At the request of the Bankers’ committee, NIBSS has acquired advanced technologies for the operation of the Nigeria Central Switch (NCS).