Payment rail · Nigeria
Payment rail · NigeriaWhat is NIP?
NIP — NIBSS Instant Payment — is Nigeria’s real-time interbank transfer service, operated by the Nigeria Inter-Bank Settlement System, which credits the recipient’s account instantly ahead of the banks’ deferred net settlement. Poplin pays out to Nigeria over NIP, settling in real time.
Source: NIBSS (opens in a new tab)
Reviewed · by Joyce Chin, Chief Operating Officer & Compliance Officer
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A payout to Nigeria clears fastest over
NIP
settles in real time · 0.85% + $1.00 on a business account
Also reaches USD accounts over
Set from your location — change it above.The recipient’s account details decide the rail — the fee is always shown before you send.
// at a glance
What the rail sets for a payout over NIP — and what Poplin charges to send.
Settlement
Real time
clears in seconds
Reaches
1
country — Nigeria
Paid out in
NGN
Nigerian naira
Business fee
0.85%
plus a $1.00 fixed fee
Clearing
Local
domestic clearing
Days are business days — a Saturday delays a same-day or next-day payout. These are ceilings, not typical times: within the window, how fast the money lands depends on the receiving bank.
// how it moves
How NIP payouts move.
From your US-dollar balance to an account in Nigeria — four steps, seconds end to end.
You send from USD
Enter an amount in your Poplin US-dollar account and confirm the payout — the full fee shows before you send.
Converted at mid-market
Dollars become Nigerian nairas at the mid-market rate — no markup added.
Cleared over NIP
Poplin clears the payout over NIP, Nigeria’s real-time bank transfers.
Arrives in seconds
The money lands in the recipient’s account in Nigeria in seconds.
// coverage
Where NIP reaches.
Sending somewhere else?
Each destination clears over its own set of rails. See the rail, speed, and fee for any destination — or the fee for every rail on one page.
NIP — FAQ
Basics
What is NIP?
NIP — NIBSS Instant Payment — is Nigeria’s real-time interbank transfer service, operated by the Nigeria Inter-Bank Settlement System, which credits the recipient’s account instantly ahead of the banks’ deferred net settlement. Poplin pays out to Nigeria over NIP, settling in real time.
Speed
How long do NIP payouts take?
Over NIP, Poplin payouts settle in real time. Payments leave your account in seconds; NIP then clears the payout to the recipient’s bank.
Cost
How much does it cost to send money over NIP with Poplin?
A percentage of the amount plus a $1.00 fixed fee — 0.85% on a business account and 1% on a personal account, shown in full before you send. Conversion, where the payout currency isn’t US dollars, is at the mid-market rate with no markup.
Coverage
Which countries does Poplin reach over NIP?
NIP is how Poplin pays out to Nigeria, in NGN. Poplin also reaches Nigeria over SWIFT (USD) — which one a payout uses depends on the bank details your recipient has.
Send US dollars to Nigeria over NIP.
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