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, The 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 with Bank Verification Number protection. "That means 50 million more market women, farmers and young people will have a bank account or wallet in their name," he said.
- The CBN plans to reduce cash outside the banking system to less than 40 per cent of money in circulation by 2028 while targeting fraud losses of less than 0.001 per cent through stronger identity verification and artificial intelligence-driven detection.
- Nigeria Inter-Bank Settlement System CEO Premier Oiwoh advocated for controlling transfer charges, noting that fees discourage electronic payments. He urged zero-rated financial apps to improve usage, accessibility, and trust 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 the initiative's success depends on execution rather than policy documentation.
22 Articles
22 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 launches PSV, targeting 95% financial inclusion by 2028
The Central Bank of Nigeria (CBN) has officially launched the Nigeria Payment System Vision (PSV) 2028, a strategy aimed at expanding financial inclusion to 95 per cent of the adult population in Nigeria’s digital payments system by 2028. The CBN Governor, Olayemi Cardoso, stated at the launch in Abuja on Monday that the […] The post CBN launches PSV, targeting 95% financial inclusion by 2028 appeared first on Business247News.
Cardodo Unveils Nigeria Payments System Vision 2028
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has unveiled the Nigeria Payments Systems Vision 2028, noting that the vision aims to deepen infrastructure, expand inclusion, accelerate innovation, strengthen cybersecurity, and enhance Nigeria’s integration with regional and global payment systems. “Today, we don’t just unveil a payments strategy; we unveil a vision for how Nigerians will transact, trade, save, invest, an…
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