The Central Bank of Nigeria (CBN) has unveiled an ambitious plan to transform Nigeria from a major user of financial technology into a leading global producer and exporter of fintech solutions through its new Payment System Vision (PSV) 2028.
Speaking at the Future of Banking Summit 2026, the Governor of the CBN, Olayemi Cardoso, said the apex bank wants Nigeria to become a country where world-class fintech companies are created, developed and exported to international markets. He explained that the plan is aimed at using Nigeria’s growing pool of technology talent, strong digital infrastructure and innovative ideas to compete on the global stage.
Cardoso was represented at the event by the Director of the CBN’s Statistics Department, Dr. Okpanachi Usman Moses.
According to the CBN governor, Nigeria has already established itself as one of the world’s fastest-growing digital payment markets. However, the next goal is to move beyond simply using financial technology and begin creating globally competitive fintech products and services.
He said the vision is for successful fintech companies to emerge from cities such as Lagos, Abuja and Kaduna, built on Nigerian technology, data and infrastructure before expanding into international markets.
Cardoso noted that the Payment System Vision 2028 is designed to encourage innovation while also improving trust, security, financial inclusion and cooperation among stakeholders in the financial sector. He explained that efficient payment systems have become important national assets because they contribute to economic growth, business competitiveness and financial stability.
The CBN governor stressed that Nigeria is not trying to catch up with other countries because it has already made remarkable progress in digital payments over the past two decades. He attributed this success to the widespread adoption of instant payment platforms, the rapid expansion of fintech companies and the growth of agent banking services across the country.
According to him, Nigeria now has about two million banking agents providing financial services to millions of people, especially those in underserved communities. These developments, he said, have placed the country’s payment system among the most advanced in many parts of the world.
He described the new Payment System Vision as the next stage of Nigeria’s digital finance success story rather than an attempt to fix a failing system. Instead, he said the CBN wants to build on existing achievements and position the country as a global leader in financial technology.
Cardoso explained that PSV 2028 is built around six major priorities. These include improving interoperability across payment platforms, strengthening cybersecurity, promoting financial inclusion, supporting innovation, increasing transparency and encouraging stronger collaboration among financial institutions and technology companies.
One of the key objectives is to make digital payments easier by ensuring that customers can send and receive money across different banks, wallets and payment providers without experiencing delays or compatibility issues.
He said Nigerians should not have to worry about which financial institution the recipient uses because transactions should move smoothly across all platforms.
The CBN also plans to strengthen cybersecurity by building fraud prevention measures directly into payment infrastructure from the beginning. Cardoso said protecting customers’ funds and personal information remains one of the bank’s highest priorities.
He added that public trust is essential for the continued growth of digital financial services, stressing that Nigerians should feel more confident keeping their money within the country’s digital financial system than anywhere else.
With the implementation of Payment System Vision 2028, the CBN believes Nigeria can move beyond being a large consumer of financial technology and become one of the world’s leading exporters of innovative fintech solutions.
