The Central Bank of Nigeria has launched its Nigeria Payments System Vision 2028 to succeed PSV 2025, aiming over the next three years to accelerate digital transformation, deepen financial inclusion, and respond to emerging payment system demands.
The Central Bank of Nigeria (CBN) recently introduced a new strategic framework, Nigeria Payments System Vision 2028 (PSV 2028), to guide the country’s payments systems for the next three years. PSV 2028 succeeds the outgoing Payments System Vision 2025 (PSV 2025), building on its successes while aiming to respond to newer demands in the payments landscape. If properly executed, the framework could accelerate digital transformation, deepen financial inclusion, and position Nigeria to better handle evolving payment technologies and consumer expectations.
The new framework reflects CBN’s recognition that the payments ecosystem must continuously adapt to innovations and growing usage of electronic transactions. By setting forward-looking objectives, PSV 2028 is expected to support improved efficiency, security, reach, and inclusiveness in Nigeria’s payment system. The CBN sees this as “another major leap in Nigeria’s payments system evolution.”