The Central Bank of Nigeria (CBN) has said it plans to transform Nigeria from one of the world’s largest adopters of financial technology into a global exporter of fintech solutions, as part of its Payment System Vision (PSV) 2028.
CBN governor, Olayemi Cardoso, speaking at the Future of Banking Summit 2026, said the long term objective is to ensure that the next globally competitive fintech company is built in Nigeria and exported to international markets, leveraging local talent, infrastructure and innovation.
Cardoso, who was represented by CBN director, Statistics Department, Dr. Okpanachi Usman Moses, said the country’s rapidly evolving payments ecosystem has already positioned Nigeria among the world’s leading digital payment markets, adding that the next phase is to convert that success into a globally competitive fintech production economy.
“Our aspiration now is that Nigeria moves from being a fintech adoption market to a fintech production economy; that the next globally competitive fintech is built in Lagos, in Abuja, in Kaduna, on Nigerian data and Nigerian infrastructure, and exported to the world,” he stated.
According to him, the CBN’s Payment System Vision 2028 is designed to deepen innovation while strengthening trust, inclusion, security and collaboration across the financial ecosystem. He noted that payment infrastructure has become a strategic national asset whose efficiency increasingly determines a country’s competitiveness, stressing that Nigeria is not starting from behind.
Cardoso said over the past two decades, the country’s payments ecosystem has become one of the most dynamic globally, driven by instant payment platforms, fintech innovation and the expansion of agent banking to about two million agents across the country.
“In several respects, our performance compares favourably with that of many advanced markets. PSV 2028 builds upon these achievements. It is not a response to failure. It is the next phase of a success story that we must not take for granted,” he said.
The governor explained that the new payment vision is anchored on six strategic pillars, including interoperability, security, financial inclusion, purposeful innovation, transparency and collaboration. He said the CBN intends to make interoperability the default standard across the financial system to ensure seamless movement of funds across banks, wallets and payment providers.
“No Nigerian should have to think about which bank, which wallet, or which provider sits on the other side of the transaction. The money should simply arrive,” he said.
Cardoso also underscored the importance of embedding cybersecurity and fraud prevention into payment infrastructure from inception, insisting that public confidence remains the backbone of digital financial services.
“Our ambition is straightforward, though demanding: a Nigerian’s money should be safer within the digital financial system than anywhere else,” he added.
