President, Association of Corporate Communication and Marketing Professionals in Banks, Jide Sipe, and Managing Director/Chief Executive Officer, Nigeria Inter-Bank Settlement System Plc, Premier Oiwoh, during a courtesy visit by ACAMB officials to NIBSS MD/CEO at its corporate head office in Victoria Island, Lagos Association of Corporate Communication and Marketing Professionals in Banks has called on banks to deepen the adoption of digital payment channels, including QR code payments, as part of efforts to strengthen Nigeria’s financial technology ecosystem.
The call was made during a courtesy visit to the Nigeria Inter-Bank Settlement System in Lagos, where both institutions discussed payment infrastructure resilience, industry collaboration, and communication during service disruptions. According to ACAMB in a statement on Sunday, there is a need for stronger coordination within the banking sector to ensure accurate and timely public communication, particularly during system downtime incidents.
Leading the delegation, ACAMB President Jide Sipe said the association is working to create a platform where banks can engage more effectively on industry developments and challenges. “We want to make sure there is a space where banks engage, share ideas, and ask relevant questions about how to grow the industry as well as manage its challenges,” Sipe said.
Responding, NIBSS Managing Director and Chief Executive Officer, Premier Oiwoh, said reliable digital payment infrastructure is central to financial inclusion and economic growth. “That is why one of the key ingredients that shape our philosophy at NIBSS is our commitment to financial inclusion.
Seamless and effective payment has always been at the core of what we do, and one key path to achieving this is ensuring a payment system that works. This will, in return, optimise revenue security, better customer experiences, and faster time-to-market, which in turn facilitates economic growth,” Oiwoh said.
He said NIBSS prioritises system stability and trust in digital payments by monitoring transaction “velocity” to anticipate system failures and redistributing load across environments to prevent downtime. “As we all know, customers expect payments to be fast, accurate, and flexible,” he said.
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He also linked this development to the National Payment Stack (NPS), which he said enhances transaction efficiency, supports real-time payments, cross-border transfers, and improves financial inclusion. By his account, the NPS “enables secure, real-time payments, cross-border transactions, and financial inclusion across Nigeria and Africa,” providing faster and more reliable payment rails.
Oiwoh said the system compares favourably with global platforms, including India’s Unified Payments Interface, based on its performance and operational efficiency. He also outlined NIBSS’ broader responsibilities, including improving interoperability among banks, strengthening trust in digital payments, and supporting fraud prevention efforts in collaboration with law enforcement agencies.
On QR-based payments, Oiwoh urged wider adoption of the NIBSS NQR solution, describing it as a low-cost, account-based system that enables customers to pay merchants by scanning a QR code via their banking apps. He said benefits include instant settlement, immediate notifications, zero onboarding cost for merchants, and lower transaction fees.