Central Bank of Nigeria (CBN) has launched the Payments System Vision 2028 as a platform that will enable financial inclusion and, by extension, grow the economy of the country through increased participation of citizens in digital banking system.

While unveiling the PSV 2028 on Monday in Abuja, the Governor of CBN, Mr. Olayemi Cardoso, said, “Today, we unveil more than a payments strategy. We unveil a vision for how Nigerians will transact, trade, save, invest, and participate in an increasingly digital economy.

“Over the past two decades, Nigeria’s payments ecosystem has evolved into one of the most dynamic and innovative in the world. From instant payments and digital adoption to fintech-led innovation, our progress has often set the pace on the continent and, in several respects, compares favourably with leading global markets.

“While this progress has not always been fully reflected in global narratives, its impact on economic activity, financial inclusion, and system resilience is evident across our economy.”

He explained that “the Payments System Vision 2028 (PSV 2028) provides a strategic roadmap for the next phase of transformation and reflects our ambition to build a payments ecosystem that is secure, inclusive, resilient, and globally competitive.

“The global payments landscape is undergoing profound change. New technologies are reshaping how value is exchanged. Digital commerce is expanding rapidly. Cross-border transactions are becoming increasingly important. Expectations around speed, convenience, security, and interoperability continue to rise.
“In this environment, payments are no longer merely a means of transferring funds. They are platforms for innovation, enablers of inclusion, and critical infrastructure for economic growth.

“For Nigeria, efficient payment systems reduce the cost of doing business, improve productivity, strengthen transparency, support trade, and broaden participation in economic activity. In a modern economy, payment infrastructure is not simply a financial utility; it is a strategic national asset.

“That is why PSV 2028 matters. It is designed to ensure that Nigeria’s payments ecosystem remains secure, resilient, inclusive, and globally competitive while supporting our broader economic aspirations.”

Cardoso further stated that PSV 2028 is also an important component of the broader reform agenda that the Central Bank has pursued since 2023. “By strengthening the efficiency, resilience, and international connectivity of our payments ecosystem, this Vision will support ongoing efforts to stabilise the economy, facilitate trade and remittance flows, deepen investor confidence, and contribute to improvements in Nigeria’s external and Balance of Payments position over time.

“PSV 2028 provides a comprehensive framework for strengthening infrastructure, expanding inclusion, supporting innovation, enhancing resilience, and deepening integration with regional and global payment systems. At its core, however, the Vision is anchored on a simple premise, which is that a modern payments system is indispensable to economic growth, financial inclusion, innovation, and national competitiveness.

“It seeks to ensure that every Nigerian can participate meaningfully in the digital economy while positioning Nigeria to take advantage of opportunities arising from the African Continental Free Trade Area (AfCFTA), expanding digital commerce, and increasingly interconnected markets.
.
“This is not merely about technology or transactions. It is about opportunity. By making it easier for businesses to send and receive payments seamlessly across Nigeria, Africa, and the wider world, we expand access to markets and unlock new possibilities for growth.

“For the entrepreneur in Aba, the trader in Zaria, the fashion designer in Ilesha, or the small business owner in Kano, efficient and interoperable payment systems can mean access to new markets, faster settlement of transactions, and greater participation in regional and global commerce. In this way, payments become a powerful tool for job creation, income growth, and poverty reduction,” the governor stated.

Also speaking, the Deputy Governor of Economic Policy Directorate, CBN, Dr. Muhammad Sani Abdullahi, said, “As economies become increasingly digital and interconnected, the efficient movement of value across households, businesses, governments, and borders has become a critical determinant of competitiveness and growth.

“Modern payment systems are no longer merely channels for settling transactions; they are strategic economic infrastructure that supports trade, investment, financial inclusion, innovation, and productivity.

“Every successful payment is more than a financial transaction. It enables commerce, connects markets, supports enterprise, facilitates trade, and creates opportunities for economic participation. As such, the future of Nigeria’s economic growth will depend not only on the movement of goods and services but increasingly on the seamless, secure, and efficient movement of money.”

Abdullahi stated, “It is against this backdrop that the Payments System Vision 2028 has been developed. PSV 2028 reflects our collective ambition to build a payment ecosystem that is innovative, inclusive, resilient, and globally connected—one that supports Nigeria’s aspirations as Africa’s largest economy and a leading hub for trade, investment, and financial services.

“More importantly, it provides a strategic blueprint for harnessing the opportunities presented by digital transformation, regional integration, and the African Continental Free Trade Area (AfCFTA),” he noted.

The unveiling of the PSV 2028 was attended by Head of Agencies, Bank CEOs, and other stakeholders.

Copyright © 2026 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).