CBN launches new payments strategy, targets 95% inclusion, near-zero fraud losses - Businessday NG

…Roadmap projects 15m new users, 40% cash ratio, faster digital transactions

…Seeks deeper regional integration, cross-border payments.

The Central Bank of Nigeria (CBN) has unveiled an ambitious payments strategy aimed at expanding financial inclusion to 95% of adults, accelerating digital transactions and positioning Africa’s most populous economy as a leading hub for regional and cross-border payments by 2028.

The Nigeria Payments System Vision 2028 (PSV 2028), launched Monday in Abuja, forms part of the CBN’s broader reform agenda and seeks to modernise the country’s financial infrastructure amid growing digital commerce and increasing regional economic integration.

Olayemi Cardoso, CBN Governor, said the initiative goes beyond upgrading payment channels and is intended to strengthen economic growth, improve financial inclusion and enhance Nigeria’s competitiveness in the global digital economy.