Cash-Less Nigeria Project Overview

Banks & NIBSS Initiatives towards promotion of e-Payment 1 CHEQUE 2 BANK TRANSFER . Operators of the Nigeria Automated Clearing System(NACS), which has reduced clearing to T+2 Soon to commence Cheque Truncation, which will reduce clearing to T+1 Same-Day Inter-Bank Transfer (NEFT) NIBSS Instant Payments (NIP) Automated Direct Credits & Debits (NEFT) • • Central Mandate Management System (CMMS) 3 CARDS . 4 MOBILE PAYMENT • 5 CAPACITY BUILDING Nigeria Central Switch (NCS) POS Transaction Aggregator(Interoperability, Terminal Monitoring, Global statistics) T+1 Merchant Settlement • • Interoperability Settlement Cash In Cash Out E-Payment Training Facility NIBST

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