CBN Advocates for Digital Payment Adoption at 2026 Fair

The Central Bank of Nigeria (CBN) has advocated for the wider adoption of alternative payment channels to enhance access to financial services and stimulate economic activity. This call was made by Hakama Sidi-Ali, Acting Director of Corporate Communications and Investor Relations Department, during the 2026 CBN Fair held in Lokoja, Kogi State.

The event focused on “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development.” Sidi-Ali, represented by Zubairu Salihu, Branch Controller of the CBN Lokoja Branch, noted that reforms under Governor Olayemi Cardoso have led to improvements in key economic areas, including a decrease in headline inflation from 15.91% in June to 15.43% in July 2026, and an increase in foreign exchange reserves to over $52.5 billion, marking a 17-year high. The CBN's initiatives aim to support farmers, traders, and small businesses with limited access to traditional banking.

Kogi State Governor Ahmed Ododo emphasized the importance of digital payment channels in closing financial access gaps in underserved areas.