NIBSS offline payments could soon transform how millions of Nigerians access money, especially those with poor internet.
Many citizens still rely on basic phones or face limited connectivity, which excludes them from digital banking.
NIBSS Offline Payments For All
At the 2026 CHBO Conference in Lagos on January 23, NIBSS Executive Director, Ngover Nwankwo, explained the plan.
She emphasised that innovation must go hand in hand with inclusion, so no Nigerian gets left behind.
Furthermore, she pointed out that cash remains essential, and digital payments cannot fully replace physical money yet.
Millions of Nigerians cannot use apps because they have old phones or lack internet-enabled devices.
According to GSMA, about 60% of Nigerians do not use mobile internet at all.
Specifically, 18% own phones but do not access internet services, while 42% lack devices entirely.
Therefore, offline payments would allow people to transact without constant internet, bridging gaps in access and usability.
Banks And Fintechs Step Up
In addition, banks have improved operations, ensured cash availability, and introduced fingerprint-based card verification.
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These changes reduce paperwork and make banking easier for millions across the country.
Moreover, Lloyd Onaghinon stressed that cash remains culturally and demographically important despite rapid electronic payment growth.
He warned that excessive cash outside banks weakens financial systems and urged collaboration among stakeholders.
Similarly, Solaja Olayemi of the CBN encouraged fintechs to formalise idle cash circulating in Nigeria.
He revealed that about 90% of Nigeria’s cash remains outside banks, which limits efficiency and financial reach.
Licensed fintechs such as Moniepoint, OPay, and Kuda can expand access, especially in underserved areas.
Bridging The Digital Gap
Electronic payments reached ₦284.9 trillion in early 2025, up from ₦234.4 trillion the previous year.
Consequently, offline payments could bridge the gap and include millions previously excluded from Nigeria’s growing digital economy.
Ultimately, NIBSS’s initiative gives hope by bringing digital finance closer to all Nigerians, regardless of connectivity.
