NIBSS Suffers Downtime, Affects Interbank Transfers

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By Aduragbemi Omiyale

There are strong indications that the instant payment transfer channel of the Nigeria Inter-Bank Settlement System (NIBSS) Plc is currently down.

This has reportedly led to the difficulty experienced by banking customers in sending funds to other bank users.

It was gathered that the issue started on Saturday, and as of the time of filing this report, it was yet to be resolved.

The NIBSS has yet to issue a statement to allay customersfears over their inability to send money to people using banks different from theirs.

The situation has created panic among bank users, who are left in the dark, as their banks have yet to inform them of the reason they have not been able to send funds to other bank users.

However, intrabank transfers are going fine without issues except for the interbank payments channel.

The NIBSS, which was incorporated in 1993 and commenced operations in June 1994, is owned by all licensed banks, including the Central Bank of Nigeria (CBN).

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