CBN Launches Nigeria Payments System Vision 2028 to Boost Digital Finance

By Admin, September 11, 2025

The Central Bank of Nigeria (CBN) has introduced the Nigeria Payments System Vision (PSV) 2028, a new strategic framework to strengthen digital payments, deepen financial inclusion, and enhance innovation across the financial sector.

Unveiled at the inaugural meeting of the PSV 2028 Project Committee in Lagos, the initiative builds on earlier frameworks, PSV 2020 and PSV 2025.

CBN’s Director of Payments System Policy, Musa Jimoh, described it as a “national assignment” that will prepare Nigeria’s financial ecosystem for rapid technological change and global competitiveness.

The framework will be developed through a stakeholder-driven process involving regulators, banks, fintechs, consumer groups, and payment providers.

It will focus on infrastructure interoperability, consumer protection, financial literacy, emerging technologies, cross-border payments, CBDC integration, and cybersecurity.

Six working groups, including one dedicated to strategic communications, have been set up to guide the rollout.

Former NIBSS CEO, Ajao Niyi, praised the initiative, urging collective support.

PSV 2028 will replace the expiring PSV 2025 and serve as the blueprint for Nigeria’s digital payments ecosystem over the next three years.