Settlement Services

Private switching companies and the Central Securities Clearing System Limited (the clearing system of the Nigeria capital market) rely on NIBSS for the settlement of their operations. The settlement data of these companies are transmitted electronically to NIBSS daily (over the NIBSS secure payment network). The NIBSS settlement engine processes received data and aggregates such and processes it through the RTGS of the CBN. Appropriate electronic advices are provided to banks and other stakeholders in every processing cycle.