CBN Launches Payments System Vision 2028 to Boost Financial Inclusion, Digital Innovation, and Secure Transactions
The Central Bank of Nigeria (CBN) has unveiled its ambitious Nigeria Payments System Vision 2028 (PSV 2028), a strategic framework designed to drive financial inclusion, digital innovation, and secure transactions across the country. Launched at an inaugural committee meeting in Lagos on September 9, 2025, the initiative sets out to create a more inclusive and globally competitive payments ecosystem for individuals, businesses, and government agencies.
Speaking at the event, Musa Itopa Jimoh, Director of the CBN’s Payments System Policy Department, described the project as a “national assignment” with the power to reshape how Nigerians interact within the financial landscape. He emphasized that PSV 2028 will build on the successes of previous reforms, such as PSV 2020 and PSV 2025, by strengthening infrastructure, improving interoperability, and expanding access to financial services nationwide.
According to Jimoh, Nigeria’s payment system has made significant strides over the last two decades, but rapid technological advances demand a forward-looking approach. PSV 2028, he said, offers the country an opportunity to develop a secure, efficient, and future-ready framework that aligns with global best practices and positions Nigeria as a leader in digital finance in Africa.
The new framework will be shaped through an inclusive, stakeholder-driven process that brings together regulators, banks, fintechs, payment service providers, consumer advocates, and other key players. To support its implementation, five thematic working groups have been created to focus on areas such as infrastructure and interoperability, digital financial inclusion, consumer protection and literacy, innovation and emerging technologies, cross-border payments and CBDC integration, as well as regulation, risk management, and cybersecurity. A proposed sixth group will oversee strategic communications and stakeholder engagement.
Stakeholders at the launch welcomed the CBN’s inclusive approach, highlighting PSV 2028 as a vital step toward fostering digital innovation, economic resilience, and sustainable growth. Former NIBSS chief executive Ajao Niyi praised the initiative for setting a new standard in collaboration and urged industry players to unite in building a future-ready payments ecosystem. As PSV 2028 succeeds the soon-to-expire PSV 2025, it is set to guide Nigeria’s digital payments sector over the next three years and cement the country’s position as a leader in Africa’s financial technology landscape.
source: leadership