The Central Bank of Nigeria (CBN) has launched the Nigeria Payments System Vision (NPSV) 2028, a comprehensive strategic framework aimed at driving innovation, deepening financial inclusion, and strengthening the country’s rapidly evolving digital economy.
The new roadmap was unveiled in Abuja during a high-level gathering attended by banking executives, fintech leaders, regulators, payment service providers, and development partners, highlighting the collaborative approach required to transform Nigeria’s payments landscape over the next four years.
According to the apex bank, the Nigeria Payments System Vision 2028 is designed to position Nigeria among Africa’s leading digital payment ecosystems by promoting faster, safer, more efficient, and accessible financial transactions.
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Under the framework, the CBN identified several strategic priorities, including improving interoperability across payment platforms, expanding access to financial services for underserved and unbanked populations, and enhancing cybersecurity measures to safeguard users and financial institutions against emerging digital threats.
The initiative also seeks to strengthen Nigeria’s participation in regional trade by supporting seamless cross-border payment systems within the framework of the African Continental Free Trade Area (AfCFTA), enabling businesses to transact more efficiently across African markets.
Industry stakeholders who attended the launch expressed confidence that the implementation of the roadmap would accelerate digital payment adoption, reduce transaction costs, enhance consumer confidence, and encourage greater collaboration among banks, fintech companies, and other players within the financial services ecosystem.
They noted that a more efficient and interconnected payment system would not only improve access to financial services but also support economic growth, innovation, and the country’s transition towards a cash-lite economy.
The NPSV 2028 is expected to play a critical role in modernising Nigeria’s financial infrastructure by ensuring that payment systems remain resilient, secure, and responsive to changing technological and economic realities.
The launch forms part of the CBN’s broader reform agenda aimed at strengthening the financial sector, promoting digital transformation, and creating a more inclusive economy where individuals and businesses can participate effectively in the formal financial system.
Analysts believe the successful implementation of the vision could further consolidate Nigeria’s position as one of Africa’s leading fintech and digital payments hubs while driving greater financial inclusion and economic competitiveness.
