Local NGN payments are supported via four payment schemes: NIP (NIBSS Instant Payments), Etranzact, NEFT, and RTGS. Senders are generally not able to choose their payment scheme — routing is determined automatically based on the amount and the sender's bank configuration unless via Manual Instruction.
NIP (NIBSS Instant Payments)
NIP is Nigeria's primary interbank instant payment scheme, operated by NIBSS (Nigeria Inter-Bank Settlement System). It is available 24/7 and supports payments of up to NGN 100 million per transaction. Funds are typically credited to your NGN wallet within 1 hour.
NIP is supported via both Paga and FCMB details.
Etranzact
Etranzact is an alternative real-time payment network in Nigeria, supporting higher transaction values of up to NGN 200 million per transaction. It operates 24/7, however it can have higher failure rates than NIP domestically. Allow up to 1 full working day for funds to be credited.
Etranzact is via both Paga and FCMB details.
NEFT (Nigeria Electronic Funds Transfer)
NEFT is a batch payment scheme that settles within 1 working day and supports payments above NGN 100 million. Payments clear across four daily windows with a cut-off of 2pm local time — for example, a payment sent at 9:45am clears at 10am; a payment sent at 2:01pm clears at 8am the following working day.
NEFT is supported via FCMB only.
RTGS (Real Time Gross Settlement)
RTGS is a batch payment scheme for high-value transfers above NGN 100 million, with a midday cut-off. Payments initiated before 12pm settle the same day; payments after 12pm are applied the next working day.
RTGS is supported via FCMB only.