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NIBSS · Launched 2011
Nigeria's instant interbank transfer rail. Regulator-capped flat fees make it dramatically cheaper than cards, and it carries the bulk of Nigerian retail payment value.
A scheme- or regulator-set rate, or a widely reported figure. Source: CBN-capped transfer fee (₦10–₦50 by band).Official site ↗
Online · percentage component
Rates are step functions: each level holds until it is replaced.
Online pricing across every country where this method is available, with the cost on a NGN 100.00 payment for comparison.
| Market | Listed fee | Cost on 100 | Effective | Since | Basis |
|---|---|---|---|---|---|
| Nigeria | NGN 50.00, capped at NGN 50.00 | NGN 50.00 | 50% | 21 Aug 2022 | Reported rate |
Every recorded change, newest first, with the movement from the rate it replaced.
In Nigeria, on the online channel: NGN 50.00, capped at NGN 50.00, in force since 21 Aug 2022 (reported rate). Fees differ by market and channel, and the table above lists each one.
It is priced in 1 market here: Nigeria. A market missing from the list has not been recorded yet, which does not mean NIBSS Instant Payment is unavailable there.
It is recorded as instant. Actual timing can depend on cut-off times and on the receiving account.
Not through a chargeback: it has no chargeback process, so a payment is hard to reverse once sent. Check who you are paying before you confirm.
Yes. It is a payment method businesses accept, and the fees shown are what a merchant pays to be paid through it.
