PiggyVest has attributed delays affecting some customer transactions to temporary downtime on the network operated by the Nigeria Inter-Bank Settlement System (NIBSS), saying affected funds will be credited once the service is fully restored.
The explanation was given in response to a customer complaint, according to Technext. PiggyVest said the delay in processing the transaction was caused by “temporary network downtime from NIBSS.”
The disruption was not limited to PiggyVest. Other Nigerian financial technology companies separately recorded NIBSS-related problems around the same period, providing independent evidence of difficulties on the payment infrastructure.
Kuda’s official status page recorded an incident involving delayed inward transfers on October 2, 2026. The company attributed the delays to a “settlement system issue” with NIBSS and later reported that a fix had been implemented before marking the incident resolved.
Flutterwave also recorded an NIBSS-related disruption affecting some naira payouts. Its status notice said the issue was disrupting NGN payouts through NIBSS and could delay transaction processing.
Mono’s service status records separately showed NIBSS downtime affecting direct debit services, including mandate creation, approval and debit operations.
What the NIBSS disruption affects
NIBSS operates the NIBSS Instant Payment platform, which supports real-time electronic funds transfers between financial institutions. Its services include account and beneficiary checks, direct credit transfers, direct debit and transaction-status queries.
That infrastructure means a fintech platform can continue operating while an external payment transaction is delayed by an issue on the interbank network used to complete the transfer.
PiggyVest’s published terms also recognise that payments can be delayed by disruptions involving NIBSS, payment processors or banking partners.
The company has previously moved more of its payment infrastructure in-house. In 2025, PiggyVest said its payment infrastructure was being powered by PocketApp, with a direct connection to NIBSS intended to give it greater control over payment processing and reduce dependence on third-party providers.
That change does not remove exposure to problems on the underlying NIBSS network. PiggyVest’s current explanation concerns transaction processing, while reports of login problems around the same period have not been established as part of the NIBSS outage.
The available reporting also does not show that every PiggyVest complaint during the period was caused by NIBSS, nor does it establish that the company’s app itself suffered a system-wide outage.
NIBSS has been developing newer payment infrastructure through the National Payment Stack, which it launched in 2026. However, there is no evidence in the available information linking the October 2 disruption to the transition from the existing NIBSS Instant Payment infrastructure to the National Payment Stack.
