The Central Bank of Nigeria (CBN) has unveiled a new plan to reshape the country’s financial landscape with the launch of the Nigeria Payments System Vision 2028 (PSV 2028).

The initiative, according to the apex bank, is designed to create a more inclusive, innovative, and globally competitive digital payment ecosystem for Nigeria.

Speaking at the inaugural meeting of the PSV 2028 Project Committee in Lagos, the Director of the Payments System Policy Department, Musa Itopa Jimoh, described the project as a “national assignment” that will transform how individuals, businesses, and government agencies interact financially.

Jimoh noted that while Nigeria’s payment system has made huge progress over the last 20 years, the rapid pace of technological change makes it necessary to create a future-ready framework that is safe, efficient, and globally relevant.

The strategy will bring together banks, regulators, fintechs, payment service providers, consumer groups, and other stakeholders to ensure it reflects real needs, encourages innovation, and gains broad acceptance.

To achieve this, the CBN has set up five thematic working groups, focusing on:

Infrastructure & Interoperability

Digital Financial Inclusion, Consumer Protection & Financial Literacy

Innovation, Digital Identity & Emerging Technologies

Cross-Border Payments & CBDC (Central Bank Digital Currency) Integration

Regulation, Risk Management & Cybersecurity

A sixth group on Strategic Communications and Stakeholder Engagement is also being considered.

With PSV 2028, the CBN says Nigeria is taking bold steps to strengthen its financial system and position itself as a global leader in digital payments.