Frequently Asked Questions on Afrinvest Securities NIBSS E-Bills Pay
What is NIBSS E-Bills Pay?
NIBSS introduced an electronic billing (E-Bills) system that allows instant online transfers through your bank. This platform was introduced for the purpose of making electronic payments e.g. bills, fees, premium, IGR, subscriptions to billers (Merchants like Afrinvest Securities Limited) by their customers.
What is NIBSS?
Nigeria Inter-Bank Settlement System (NIBSS) Plc. was incorporated in 1993 and is owned by all licensed banks including the Central Bank of Nigeria (CBN). The Company also operates the Nigeria Automated Clearing System (NACS) which facilitates the electronic clearing of cheques and other paper-based instruments, electronic funds transfer, Automated Direct Credits and Automated Direct Debit.
How Secure is E-Bills Pay?
The platform is very secure, and the verification process is additionally backed by the security process from your commercial bank i.e. a token verification and a security question. The funds are also securely transferred to beneficiaries.
What are the Benefits?
Some of the benefits include:
- Instant fund transfer to fund investments
- Secure platform
- Low transfer charges (standard N100.0 – N105.0/transaction) irrespective of the transfer volume
- There is no minimum value that can be transferred on the platform
What is the Maximum Amount that can be Transferred?
There is no maximum amount that can be transferred on the platform. However, a maximum of N100.0m (Hundred Million Naira Only) can be transferred in a tranche. Thus, if you intend to transfer N300.0m, you need to do 3 tranches of transfer.
Does My Bank Have E-Bills Payment?
Please find below the list of banks that currently have E-Bills payment on their online platform:
- Diamond Bank
- First Bank
- Guaranty Trust Bank
- Stanbic IBTC
- Wema Bank
- Zenith Bank
Other banks are currently working on integrating with NIBSS
What Type of Transaction Can I Pay For?
The range of Afrinvest Securities products currently available on the platform are as follows:
- Treasury Bills (T-Bills)
- Equities (Deposit for Shares)
- FGN Savings Bond
- FGN Bonds
You can buy any of these products immediately after fund transfer. The products are linked to our bank accounts.
How Do I Make Payment?
Visit your bank’s online platform, click on NIBSS E-Bills payment and select/search Afrinvest Securities from the drop-down list of available merchants. Once this is done, you will be required to provide your Afrinvest Securities In-House Account Number, value/amount you intend to transfer and product.
NB: The E-Bills payment link location varies on different online bank portals.
Can I Pay Through My Mobile App?
Mobile banking apps are currently not enabled for E-Bills payment. It is only available on web online banking platforms.
How Do I Get My Afrinvest Securities In-House Account Number?
Your in-house account number is sent in your welcome note once you create an account, However, you can get the number once you login to your Afrinvestor online trading platform www.afrinvestor.com
Alternatively, you can send us a live chat or leave an offline message anytime (click here) on our website or contact us via email [email protected]
Can I Make Third-Party Payments?
Yes, third party payments can be made using the beneficiary’s Afrinvest Securities Account Number. For example, a parent can transfer to their kids’ Afrinvest account.
What Happens if my Transaction Fails?
If the transaction fails, the fund transferred is reversed directly to your bank account.
After Payment is Made, What Next?
Once payment is made, your Afrinvest account would be automatically credited for your preferred investment. Then, you can visit our online trading platform to BUY/SELL securities or contact your account officer. You can also send an email ([email protected]) if you wish to submit a subscription form/send a detailed instruction for your preferred investment.
Who Can I Contact for More Information?
Please contact your account officer or send an email to [email protected]
Lagos: Adedoyin: +234 809 778 3100, Bolaji: +234 812 175 903, Vwede: +234 818 334 2612, Titilayo: +234 806 416 3665
Port Harcourt: Taiwo: +234 808 718 4771
Abuja: Bola: +234 909 504 1827