Beyond financial inclusion, Nigeria’s central bank is chasing regional payments leadership | Collector

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Beyond financial inclusion, Nigeria’s central bank is chasing regional payments leadership

TechCabal

Beyond financial inclusion, Nigeria’s central bank is chasing regional payments leadership

In the first half of 2007, Nigerians processed ₦946.22 million ($695,469) in point-of-sale (PoS) transactions. In the first quarter of 2025, that figure grew to ₦10.51 trillion ($7.73 billion). The growth was the product of a series of policy decisions by the Central Bank of Nigeria (CBN), which has spent nearly two decades trying to reduce the country's reliance on cash and build a digital payments ecosystem through successive Payment System Vision (PSV) frameworks.

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