Cash & digital payments must co-exist - NIBSS

The Nigeria Inter-Bank Settlement System (NIBSS) has reiterated the crucial role of cash in the payment system, stressing that cash must co-exist with the e-payment services.

Speaking at the 2026 Committee of Heads of Bank Operations Conference (CHBO) Conference in Lagos, Executive Director, Business and Products, Nigeria Inter-Bank Settlement System (NIBSS), Ngover Nwankwo, said inclusion must keep pace with innovation as digital payments expand.

“Our focus is balancing innovation with inclusion, ensuring no Nigerian is left behind as digital payment adoption grows,” Nwankwo said.

She stressed that cash remains vital and cannot be eliminated, insisting both cash and digital payments must coexist within Nigeria’s economy.

“Cash and digital platforms must work together, protecting those who rely on cash while offering secure, efficient services to digital users,” she said.