CBN Announces New Modes Of Payment
The Central Bank of Nigeria has introduced a new framework called the Nigeria Payments System Vision 2028 (PSV 2028), which will guide how financial transactions are carried out across the country over the next three years.
The plan was launched in Lagos on September 9, 2025, during a meeting that brought together regulators, banks, fintechs, and other industry players.
The new framework focuses on creating more payment options for Nigerians, including mobile wallets, online transfers, QR codes, Point-of-Sale services, cross-border payments, and the Central Bank Digital Currency, eNaira.
It also aims to improve the way these systems connect with one another, making transactions faster and more reliable.
As part of the project, the CBN has set up working groups to concentrate on areas such as infrastructure, financial inclusion, consumer protection, innovation, cybersecurity, and regulation.
The process will be carried out with input from stakeholders to ensure it meets the needs of individuals, businesses, and government institutions.
The PSV 2028 succeeds the PSV 2025, which is ending, and will serve as Nigeria’s main blueprint for payments going forward.
