CBN Begins Developing Payments System Vision 2028 at Lagos Committee Meeting
Updated for accuracy, 6 November 2026: This article distinguishes the start of the PSV 2028 development process in 2025 from the formal launch of the completed vision in 2026.
The Central Bank of Nigeria (CBN) began work on its Payments System Vision 2028 (PSV 2028) with the inaugural meeting of the project committee in Lagos on 9 September 2025, setting in motion the preparation of a strategic framework for the country’s digital payments industry.
The initiative was intended to build on earlier payments roadmaps, including PSV 2020 and PSV 2025, and address developments involving banks, financial technology companies, payment infrastructure providers and consumers.
At the Lagos meeting, the CBN’s Director of the Payments System Policy Department, Musa Jimoh, described the exercise as a national undertaking. Contemporary reports of the meeting identified financial inclusion, stronger interoperability and innovation among the priorities under discussion.
The work followed years of growth in electronic payments in Nigeria, alongside concerns about security, access, consumer protection and the ability of different payment platforms to work together.
What changed in 2026? The CBN’s official payments-system information states that the completed PSV 2028 was formally presented to the public on 1 June 2026. The central bank describes six guiding principles: interoperability, security, inclusion, innovation, trust and collaboration.
The final vision aims to advance a secure and inclusive payments system and strengthen Nigeria’s connections with regional and international financial markets. The CBN also identifies regulatory oversight, cross-border payments and collaboration across the payments ecosystem as areas of focus.
The distinction matters: the September 2025 committee meeting began development of the vision; it was not the formal launch date of the final document.
Sources: CBN’s official PSV 2028 page; September 2025 report of the Lagos committee meeting.