Central Bank of Nigeria (CBN) has formally unveiled the Payments System Vision 2028 (PSV 2028) to strengthen the country’s digital economy and trade.

Speaking in Abuja, Monday, at the unveiling, the CBN Governor, Olayemi Cardoso, said PSV 2028 aims to deepen financial inclusion and strengthen digital payments nationwide, while urging government agencies, financial institutions, fintech firms, and development partners to support its implementation.

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According to Cardoso, PSV 2028 is intended to strengthen Nigeria’s digital economy and position the country as a globally competitive payments hub.

Describing PSV 2028 as a strategic roadmap for building a secure, resilient, inclusive and innovative payments ecosystem, the CBN Governor noted that country’s payments industry has become one of the world’s most dynamic and innovative sectors over the past two decades.

He said digital payments had enhanced economic activity, financial inclusion and resilience across the country’s financial system.

“Payment systems now serve as platforms for innovation and critical infrastructure for economic growth,” Cardoso stated.

According to him, efficient payment systems reduce business costs, improve productivity and promote transparency, disclosing that PSV 2028 aligned with the CBN’s broader economic reform agenda introduced in 2023.

According to Cardoso, the initiative would support trade, remittances, investor confidence, and Nigeria’s balance of payments position, adding further that it is expected to also strengthen infrastructure, expand inclusion and deepen integration with regional and global payment systems.

Cardoso further stated that PSV 2028 would help Nigeria maximise opportunities under the African Continental Free Trade Area.

“Seamless payments will enable businesses to access new markets across Nigeria, Africa and beyond,” he said.

Cardoso reaffirmed the CBN’s commitment to promoting innovation while maintaining financial stability and effective oversight, even as he urged government agencies, financial institutions, fintech firms, and development partners to support implementation.

“The success of PSV 2028 will depend on execution, collaboration and commitment from all stakeholders,” Cardoso said.