By Atoyebi Nike
The Central Bank of Nigeria (CBN) has launched the Nigeria Payments System Vision 2028 (PSV 2028), a new framework designed to strengthen the country’s digital financial system.
The project was unveiled at the inaugural meeting of the PSV 2028 Project Committee in Lagos on Tuesday, September 9, 2025.
According to Musa Itopa Jimoh, Director of the Payments System Policy Department, the initiative will build on earlier reforms, including PSV 2020 and PSV 2025, to improve financial inclusion, innovation, and interoperability in the sector.
He said the strategy would be developed with input from regulators, banks, fintech companies, payment service providers, and consumer groups to ensure it reflects real market needs.
To guide the process, five thematic working groups were created covering infrastructure, digital inclusion, consumer protection, innovation, cross-border payments, and regulation. A sixth group on stakeholder engagement was also proposed.
Participants at the launch praised the CBN’s inclusive approach, describing the vision as critical to promoting digital innovation and strengthening Nigeria’s role in Africa’s payments landscape.
