CBN convenes a Payments Service Providers Committee ahead of a new Payments System Vision

The Central Bank of Nigeria inaugurated a Payments Service Providers Committee in Lagos on 2 April 2026, seating the CBN, commercial banks, mobile money operators and fintechs at one table, with a new Payments System Vision promised within a month. The scale being governed is considerable: Nigeria's digital payments system processed 11.2 billion transactions worth over one quadrillion naira in 2024. The committee's stated agenda covers standardisation, interoperability between banking and fintech rails, and consumer protection. For operators, the composition is the signal. The CBN is shifting from command-and-control rulemaking toward coordinated governance with the industry inside the room, and the forthcoming Vision was expected to address the licensing grey zones (cross-border payments, stablecoin-adjacent services) where most compliance uncertainty now sits.