CBN Launches PSV 2028 for 95% Financial Inclusion

On a recent date in Abuja, the Central Bank of Nigeria (CBN) launched the Nigeria Payment System Vision (PSV) 2028, targeting 95% financial inclusion by the year 2028. CBN Governor Olayemi Cardoso described the PSV 2028 as a strategic blueprint designed to transform Nigerian transactions, savings, investments, and participation in the digital economy over the next three years.

The initiative is expected to bring an estimated 50 million additional Nigerians into the formal financial system, thereby strengthening payment infrastructure and reducing reliance on cash. Cardoso emphasized that the success of PSV 2028 will be measured by execution rather than just documentation quality.

Deputy Governor for Economic Policy, Dr. Muhammad Sani Abdullahi, noted that the PSV 2028 provides a strategic framework to harness digital transformation opportunities within the region, integrating with the African Continental Free Trade Area (AfCFTA) to enhance cross-border transactions and foster innovation.