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.
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.
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.
NIP on your bank statement.
Banks word their own statement lines, so yours can confirm one that looks wrong.
What does NIP mean on a bank statement?
The transfer went through NIP, the NIBSS Instant Payment service that moves money between accounts at Nigerian institutions by account number. The letters name the system, not the sender and not a fee.
What does NIP outward transfer mean?
Most likely money that left your account for an account at another institution over NIP. An inward transfer would be money arriving.
How much do Nigerian banks charge for a NIP transfer?
A Nigerian bank charges its own customer ₦10 below ₦5,000, ₦25 from ₦5,001 to ₦50,000 and ₦50 above ₦50,000, under the Central Bank of Nigeria (CBN) Guide to Charges in force since January 2020. A CBN draft from April 2026 proposes lower bands, not confirmed final as of November 2026. Poplin sets its own fee for a payout over NIP, which this page states separately.
Why does my statement show ₦50 beside a NIP transfer?
It may be stamp duty rather than your bank’s NIP charge. Banks’ customer notices say that since 1 January 2026 the sender pays ₦50 on electronic transfers of ₦10,000 or more, where it used to come off the recipient. Salary payments and transfers between your own accounts at one bank are exempt.
Sources: NIBSS (opens in a new tab) CBN Guide to Charges, 2020 (opens in a new tab) Candide-Johnson on the 2026 draft (opens in a new tab) Nairametrics on the stamp duty notices (opens in a new tab)
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.
Where NIP reaches.
Nigeria
The one country Poplin pays out to over NIP, in Nigerian nairas.
Send to Nigeria →Paid in US dollars by clients abroad? Poplin gives you a US-dollar account with a US account and routing number they can pay into, and you can then convert to Nigerian nairas at the mid-market rate and pay out to a bank account in Nigeria over NIP. Get paid in US dollars in Nigeria →
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.
Other rails to Nigeria.
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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