The Central Bank of Nigeria (CBN) has unveiled the Nigeria Payments System Vision (PSV) 2028, a strategic roadmap designed to create a more secure, efficient, innovative, and inclusive payments ecosystem capable of driving economic growth and accelerating the country’s digital transformation.
Speaking during the launch in Abuja, CBN Governor, , said the initiative is aimed at strengthening the role of the financial sector in national development, deepening financial inclusion, and enhancing Nigeria’s competitiveness in the global digital economy.
Cardoso noted that modern payment systems have become critical national infrastructure that support trade, transparency, productivity, and wider economic participation. He added that Nigeria has made remarkable progress in digital payments over the last two decades through innovations such as instant payment platforms, digital banking services, and fintech solutions.
According to the apex bank, the Payments System Vision 2028 will focus on strengthening payment infrastructure, expanding access to financial services, promoting innovation, facilitating seamless cross-border transactions, enhancing consumer protection, and safeguarding the integrity of the financial system.
The framework also seeks to encourage the adoption of emerging technologies, including open banking, artificial intelligence, and digital assets, as part of efforts to position Nigeria as a leading digital economy in Africa.
Deputy Governor in charge of Economic Policy, , said the initiative is designed to build a resilient and interoperable payment ecosystem capable of supporting the country’s rapidly expanding digital economy while ensuring that millions of Nigerians have greater access to financial services.
Stakeholders at the unveiling called for reduced transaction costs and stronger institutional support for Nigerian fintech firms seeking to scale their operations across Africa and international markets. They argued that the fintech sector remains one of Nigeria’s most dynamic drivers of innovation, investment, and job creation.
The Payments System Vision 2028 forms part of broader financial sector reforms being implemented by the CBN and is expected to enhance economic stability, improve remittance flows, strengthen investor confidence, and support Nigeria’s transition toward a more technology-driven economy.
