CBN to Prioritise Faster Digital Payments, Financial Inclusion in 2026
- The CBN has said it is prioritising the improvement of the national payment system, expansion of digital finance and the enhancement of financial inclusion in its 2026 agenda
- Governor Olayemi Cardoso highlighted ongoing reforms to strengthen regulation, enhance platforms and support safe digital transactions
- He noted progress in fintech adoption and financial inclusion but stressed the need for deeper participation, especially among underserved groups
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, tech and macroeconomic trends in Nigeria.
The Central Bank of Nigeria (CBN) has announced its 2026 strategic plan, noting that it would prioritise the upgrade of the national payments system and the improvement of financial inclusion in the country.
The CBN governor, Olayemi Cardoso, said this while delivering his keynote address at the 60th annual bankers’ dinner of the Chartered Institute of Bankers of Nigeria (CIBN), The Sun reported.
Source: Getty Images
Cardoso explained that the agenda is part of broader efforts to restore monetary stability, rebuild public confidence, expand digital finance and strengthen the financial sector following years of economic uncertainty.
According to the governor, the apex bank is accelerating reforms aimed at positioning Nigeria among Africa’s leaders in digital payments.
He said the CBN will continue to improve the interoperability of payment platforms and diligently carry out regulatory oversight to ensure safe and affordable transactions nationwide.
“The CBN’s ambition is to place Nigeria among the leading nations in payment innovation,” he stated.
Digital finance remains a central pillar of the plan, with the governor noting that the bank is reviewing regulatory frameworks to accommodate emerging technologies, including fintech models for lending, merchant payments and cross-border activities.
Cardoso revealed that more than 12 million contactless payment cards are currently in circulation, while over 40 fintech innovators are active in the CBN’s regulatory sandbox.
He added that by mid-2025, some of the country’s top fintech apps had exceeded 10 million downloads each, with one surpassing 50 million downloads, signalling strong consumer adoption.
He said the CBN will continue promoting infrastructure upgrades to ensure “all Nigerians benefit from a more efficient, secure and financially inclusive system.”
On financial inclusion, Cardoso acknowledged that despite notable progress, many Nigerians, particularly in rural communities, still lack access to basic banking services.
Source: Getty Images
He said the bank is introducing targeted initiatives through agent banking, microfinance institutions, remittance channels and mobile money operators.
“At 74 per cent, the share of adults with access to formal financial services is approaching the global average,” he said.
Cardoso commits to financial inclusion
He added that more than 3 million agent bankers now operate across the country. However, he stressed that true inclusion must go beyond account ownership, calling for meaningful economic participation.
Cardoso highlighted several programmes designed to support underserved groups, including the Women’s Financial Inclusion Dashboard, the Women Entrepreneurs Finance Code and the Inclusion Roadmap for Displaced Persons.
He noted that digital wallets, mobile money and fintech-enabled microcredit continue to expand options for households and small businesses.
Looking ahead to 2026, the governor said the CBN is pursuing a wide-ranging reform agenda that aims to deepen monetary policy effectiveness, strengthen bank supervision and improve macro-financial stability.
He also signalled closer coordination with fiscal authorities to address structural drivers of inflation, such as food supply challenges and foreign-exchange pressures.
Cardoso reaffirmed the apex bank’s commitment to a market-driven foreign-exchange system supported by ongoing liquidity measures.
According to him, the CBN will also intensify efforts to improve governance in the banking industry, enhance risk-management standards and enforce prudential regulations as banks expand their digital operations and adjust to new capital requirements.
CBN rolls out project for underserved populations
Legit.ng earlier reported that CBN rolled out a project to revive the eNaira project with the aim of increasing access to digital financial services and promoting financial inclusion.
The project targets underserved populations with no access to financial services and limited access to telecommunications, the CBN stated.
It also includes enhancing protection through initiatives like the Unified Complaints Tracking System and promoting policies that improve financial stability.
Source: Legit.ng
