NIBSS cuts instant transfer fees, but banks will not lower customer transaction fees

Nigerian Inter-Bank Settlement System (NIBSS), Nigeria’s largest payment infrastructure, has reduced the processing fee for transactions on its platform. How does that affect you? According to documents seen by TechCabal, NIBSS has reduced the processing fee for transactions on NIBSS Instant Payment (NIP). The new ₦3.75 pricing for instant transfers—down from ₦5—will take effect on…

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