CBN Unveils Payments Vision 2028 to Power Nigeria’s Digital Economy
The central bank said the plan will add 50 million more Nigerians to the formal system and cut cash use and fraud by 2028.
- On Monday, CBN Governor Olayemi Cardoso launched the Nigeria Payment System Vision 2028 in Abuja, a roadmap designed to transform financial transactions and strengthen Nigeria's digital economy over the next three years.
- Cardoso aims for 95 per cent financial inclusion by 2028, targeting 50 million additional Nigerians into the formal system. "That means 50 million more market women, farmers and young people will have a bank account or wallet in their name, with their BVN protecting them," he said.
- The CBN plans to reduce cash outside the banking system to less than 40 per cent of money in circulation by 2028. The bank also targets fraud losses of less than 0.001 per cent of total transactions through stronger identity verification.
- Nigeria Inter-Bank Settlement System CEO Premier Oiwoh advocated for controlling transfer charges, noting that fees and data costs discourage electronic payments. He called for zero-rated financial apps to improve usage and accessibility across the payment ecosystem.
- Modernizing national payments infrastructure will support intra-African trade, positioning Nigeria as an active engine for continental economic integration. Cardoso emphasized that success depends on execution rather than policy documentation.
18 Articles
18 Articles
CBN targets 95% financial inclusion, faster money transfers by 2028
CBN said the vision will modernise the national payments infrastructure in intra-African trade. The bank added that the vision will accelerate regional commerce and enhance export competitiveness. The post CBN targets 95% financial inclusion, faster money transfers by 2028 appeared first on Premium Times Nigeria.
Payment system key to lifting Nigerians from poverty – Cardoso
CBN Governor Cardoso unveils Nigeria Payments System Vision 2028, highlighting an efficient payment system as crucial for poverty reduction and economic gr Read More: https://punchng.com/payment-system-key-to-lifting-nigerians-from-poverty-cardoso/
CBN unveils Payments System Vision 2028, stakeholders seek lower transaction costs
By Emma Ujah, Abuja Bureau Chief ABUJA — The Central Bank of Nigeria, CBN, has unveiled the Nigeria Payments System Vision (PSV) 2028, a strategic framework aimed at building a more efficient, innovative and financially inclusive payments ecosystem in the country. Unveiling the vision in Abuja on Monday, CBN Governor, Olayemi Cardoso, said the framework would accelerate the financial sector’s contribution to Nigeria’s Gross Domestic Product, GDP…
CBN Projects Financial Inclusion To Hit 95% By 2028, Launches Payment System Vision 2028
*CBN Governor, Olayemi Cardoso, and other staff of the bank at the launch of the Payment System Vision 2028 on Monday, JUNE 1, 2026 The Central Bank of Nigeria has said it is implementing a reform targeting 95 per cent financial inclusion, and “faster-than-a-blink” digital transactions, bringing millions more market women, farmers, and young people into the formal financial system. Speaking during the launch of the Payments System Vision 2028 (…
Cardoso to banks: reduce fraud, deepen financial inclusion, accelerate digital economy - OGUN STATE TELEVISION
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has set ambitious targets for Nigeria’s financial sector, directing banks, fintech companies and other payment service operators to significantly reduce fraud, deepen financial inclusion and accelerate the country’s transition to a digital economy by 2028. Cardoso gave the directive yesterday in Abuja during the official launch of the Payments System Vision 2028 (PSV 2028), a st…
Coverage Details
Bias Distribution
- 75% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
