The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has unveiled the Nigeria Payments Systems Vision (PSV) 2028, a comprehensive roadmap aimed at deepening payment infrastructure, expanding financial inclusion, accelerating innovation, strengthening cybersecurity, and enhancing Nigeria’s integration with regional and global payment systems.
Speaking at the unveiling, Cardoso described the initiative as more than a payments strategy, saying it represents a transformative vision for how Nigerians will transact, trade, save, invest, and participate in the digital economy.
“Today, we don’t just unveil a payments strategy; we unveil a vision for how Nigerians will transact, trade, save, invest, and fully participate in a digital economy,” he said.
The CBN Governor emphasized that PSV 2028 is a national project rather than a government initiative, stressing that its success would depend on collaboration among regulators, financial institutions, fintech companies, businesses, and consumers.
According to him, the apex bank remains committed to providing the leadership and enabling environment necessary to transform Nigeria’s payments ecosystem while maintaining a balance between innovation and financial stability.
Cardoso noted that payment systems have evolved beyond simple fund transfers to become platforms for innovation, instruments of financial inclusion, and critical infrastructure for economic growth. He explained that PSV 2028 is designed to build a secure, resilient, inclusive, and globally competitive payments ecosystem capable of supporting trade, boosting investor confidence, and driving broader economic reforms.
A major objective of the vision, he said, is to deliver measurable impact on the lives of Nigerians.
He stressed that success would not be judged by the quality of the policy document but by effective implementation and its contribution to economic growth, poverty reduction, and improved livelihoods.
The Governor expressed confidence that Nigeria could achieve a financial inclusion rate of 95 per cent by 2028, bringing more market women, farmers, entrepreneurs, and young people into the formal financial system.
“The goal is inclusion, not exclusion,” he stated.
Cardoso also projected a future where trust becomes the foundation of digital payments adoption, supported by reduced fraud, stronger consumer confidence, and a gradual shift away from cash dependence.
He observed that Nigeria already occupies a leading position in Africa’s payments landscape and possesses the talent, scale, and entrepreneurial capacity required to convert that advantage into long-term economic competitiveness.
Looking ahead, the CBN Governor envisioned a future where Nigerian youths build globally successful fintech companies from cities across the country, leveraging local talent and innovation to solve both domestic and international challenges.
“The success of PSV 2028 will not be measured by the quality of this document. It will be measured by execution; by our ability to expand opportunity, strengthen trust, lower barriers to participation, and build a payments ecosystem that serves every Nigerian,” Cardoso said.
