By Kehinde Ibrahim, Lagos
The Association of Corporate Affairs Managers of Banks, ACAMB, has called on banks to intensify the adoption of digital payment solutions, particularly the Nigeria Quick Response ‘NQR, code payment platform, as part of broader efforts to deepen financial inclusion, improve payment efficiency, and strengthen public confidence in Nigeria’s digital payments ecosystem.
The call was made during a courtesy visit by ACAMB’s leadership to the Nigeria Inter-Bank Settlement System, NIBSS, Plc in Lagos, where both organisations discussed strategies to enhance collaboration, improve communication across the banking industry, and reinforce the resilience of Nigeria’s payment infrastructure.
The meeting focused on the need for stronger coordination among financial institutions, particularly in addressing service disruptions and ensuring that accurate information is communicated promptly to the public whenever operational challenges arise.
ACAMB President, Jide Sipe said that the association is committed to creating a platform where banks can collectively address industry issues, exchange ideas, and promote developments that enhance the banking sector.
According to him, improved collaboration among stakeholders is essential to driving innovation and maintaining public trust in the financial system
He noted that ACAMB has continued to engage critical stakeholders across the financial services sector, including the Chartered Institute of Bankers of Nigeria, CIBN, to identify opportunities for stronger collaboration and improve stakeholder engagement.
Sipe observed that recent service disruptions within the banking industry highlighted the importance of coordinated communication, stressing that official and factual information should shape public narratives rather than speculation or commentary from individuals outside the operational environment.
To address this, he proposed a stakeholders’ conference that would bring together heads of corporate communications from banks and NIBSS to improve information sharing and crisis communication.
Responding, Managing Director and Chief Executive Officer of NIBSS, Premier Oiwoh reaffirmed the organisation’s commitment to building a reliable, secure and inclusive digital payment ecosystem capable of supporting Nigeria’s growing digital economy.
According to him, seamless payment infrastructure remains fundamental to financial inclusion and national economic development.
Oiwoh disclosed that since assuming office in May 2019, NIBSS has continued to invest in strengthening payment infrastructure through proactive monitoring of transaction volumes and intelligent load balancing across multiple operating environments to minimise downtime and ensure uninterrupted service delivery.
He explained that customers increasingly demanded payment platforms that are fast, reliable and flexible, making continuous investment in payment infrastructure imperative.
The NIBSS Chief Executive described the NIBSS Instant Payment, NIP, platform as the cornerstone of Nigeria’s digital payment revolution, noting that it pioneered account-based instant transfers when it was introduced about 15 years ago.
He added that the organisation has since expanded its capabilities through the development of the National Payment Stack, NPS, a next-generation payment infrastructure designed to improve transaction speed, operational efficiency and interoperability across financial institutions.
According to Oiwoh, the National Payment Stack supports secure real-time payments, facilitates cross-border transactions and advances financial inclusion across Nigeria and the African continent by providing banks and their customers with faster and more dependable payment infrastructure.
He also highlighted NIBSS’ broader mandate, which includes promoting interoperability within the banking system, developing innovative payment solutions, strengthening trust in digital financial services and supporting fraud prevention initiatives.
He said that the organisation has recorded significant successes in combating electronic fraud through advanced monitoring systems and close collaboration with law enforcement agencies, resulting in numerous fraud prevention interventions and high-profile arrests.
Oiwoh further encouraged banks to expand the adoption of the NIBSS Nigeria Quick Response, NQR, payment solution, describing it as a secure, account-based platform that simplifies mobile payments while significantly reducing transaction costs for businesses.
He explained that the solution enables customers to make payments by simply scanning a merchant’s QR code using their banking application, eliminating the need for physical cash or payment cards.
