•Unveil new payments vision as PSPC takes off
By Babajide Komolafe
The Central Bank of Nigeria (CBN), commercial banks and financial technology (fintech) operators have launched a joint industry platform aimed at addressing structural gaps in the nation’s payment system, even as the apex bank disclosed plans to unveil a new payments vision to drive the next phase of growth.
The platform, known as the Payments Service Providers Committee (PSPC), was inaugurated in Lagos, yesterday, bringing together regulators, banks, mobile money operators, and fintech firms to deepen collaboration, accelerate innovation, and strengthen financial system stability.
Speaking at the event, Deputy Governor, Economic Policy Directorate, Muhammad Sani Abdullahi, said the initiative became imperative given the rapid expansion of Nigeria’s digital payments ecosystem.
He stated: “In 2024 alone, the system processed over 11.2 billion electronic transactions, amounting to over N1.07 quadrillion. This is
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