NIBSS downtime disrupts bank transfers, fintech services nationwide

Electronic banking transactions across Nigeria faced major disruptions on Tuesday as the Nigeria Inter-Bank Settlement System (NIBSS) suffered downtime, affecting some financial technology platforms in Nigeria.

The disruption caused delays in transfers and other payment services, leaving many customers unable to complete transactions through mobile banking apps and fintech platforms.

NIBSS operates the instant payment platform that powers real-time electronic funds transfers between banks and financial institutions in Nigeria. The system allows customers to send and receive money instantly through digital channels.

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Several fintech firms alerted customers about the disruption and blamed the issue on failures from the NIBSS platform.

Carbon, in a message sent to customers, said the payment infrastructure provider was experiencing intermittent failures.

“We have confirmation from NIBSS that they are experiencing intermittent failures, which will delay your transfers. We will update you as soon as this is resolved,” the company said.

Konga also informed customers that incoming transfers into KongaPay accounts were affected.

The company said it was working with its partners to restore services as quickly as possible.

“We are currently experiencing a temporary issue affecting incoming transfers into KongaPay accounts, and our partners are working diligently to resolve it as soon as possible,” the company stated.

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Konga apologised for the inconvenience and assured customers that updates would be provided once services are fully restored.

The disruption highlights the critical role NIBSS plays in Nigeria’s digital payment ecosystem, where millions of daily banking and fintech transactions depend on the platform.

As of the time of filing this report, there was no official timeline for the full restoration of services, while customers continued to experience delays and failed transactions across multiple financial platforms.