The Central Bank of Nigeria has unveiled the Nigeria Payments System Vision 2028 (PSV 2028), a strategic roadmap designed to strengthen the country’s digital economy, deepen financial inclusion, and modernize payment infrastructure.
Speaking at the launch in Abuja, CBN Governor Olayemi Cardoso described PSV 2028 as a blueprint for building a payments ecosystem that is secure, resilient, innovative, inclusive, and globally competitive.
According to the apex bank, the initiative aims to expand financial inclusion, strengthen digital payments nationwide, improve cross-border transactions, and position Nigeria as a leading digital payments hub in Africa.
The vision also seeks to facilitate trade and remittance flows, enhance investor confidence, reduce transaction costs, and support economic growth through increased adoption of digital financial services.
Industry targets outlined under PSV 2028 include increasing financial inclusion to 95% of Nigeria’s adult population, accelerating digital transactions, and reducing fraud-related losses through stronger payment security measures.
Cardoso noted that Nigeria’s payments sector has evolved into one of the most dynamic in the world, driven by instant payments, fintech innovation, and widespread digital adoption. He said the new roadmap is intended to build on those gains and prepare the country for the next phase of digital transformation.
Stakeholders at the launch welcomed the initiative, describing it as a major step toward improving economic participation, promoting innovation, creating jobs, and strengthening Nigeria’s competitiveness in the global digital economy.
PSV 2028 succeeds the previous Payments System Vision 2025 and is expected to guide the development of Nigeria’s digital payments ecosystem over the next three years.
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