CBN launches Payment System Vision 2028 targeting 95% financial inclusion by 2028

CBN Governor Olayemi Cardoso unveiled the Payment System Vision 2028 on Monday, June 1, 2026, aiming to bring 95% of Nigerians into the formal financial system—adding an estimated 15 million market women, farmers, and young people. The plan targets fraud losses below 0.001% of transactions by 2028 through NIN/BVN integration and AI-driven detection, and promises "faster-than-a-blink" digital payments nationwide. Cardoso described payment infrastructure as "invisible roads that move money," linking its efficiency to GDP growth, poverty reduction, and Nigeria’s ambition to become a global fintech hub producing internationally competitive unicorns. The framework builds on two decades of instant payments and fintech growth, emphasizing execution over documentation, with open banking reforms already unlocking over 100 APIs for innovation. He warned against policy disruption, stressing that continuity and measurable outcomes are essential for long-term economic gains, and urged Nigerians to tell their own fintech success stories globally.

SOURCE: https://www.channelstv.com/2026/06/02/financial-inclusion-to-hit-95-by-2028-cbn/