…Targets achieving near-universal e-payment penetration by 2030

The Central Bank of Nigeria, CBN says over 25% of all electronic transactions in Nigeria are processed via real-time payment channels and through the NIBSS NIP platform, with about 11 billion transactions processed in 2024.

According to the Apex bank this is up from 5 billion transactions in 20222, placing the country among the top adopters of Fintech globally and a clear leader on the African continent.

This is contained in its latest report on assessment of Nigeria’s fintech landscape released on Monday.

The CBN added that the figure aligns with the Payments System Vision 2025, which sets a target for achieving near-universal e-payment penetration by 2030.

According to a statement from the CBN, the report outlines the priorities needed to sustain innovation, strengthen system integrity, and support the next phase of digital financial growth.

It said, “It also examines the scale and maturity of Nigeria’s fintech ecosystem, highlighting the country’s leadership in real-time payments and the structural factors shaping recent growth.

“It positions fintech innovation as a complementary force within the financial system, expanding access, efficiency, and reach, while preserving stability and resilience.”

Informed by surveys and extensive stakeholder engagement, the apex bank said that the report outlined practical policy directions to improve regulatory coordination.

“It also outlines policies to strengthen supervisory capability, and support responsible innovation, including cross-border scale. It underscores interoperability, proportional regulation, and effective execution as critical enablers of sustainable ecosystem development.

“This publication forms part of an ongoing series through which the CBN will continue to engage the financial sector, provide clearer regulatory direction, and support more coordinated execution,” the CBN said.

It said that the report was intended to serve as a shared reference point for banks, fintech firms, regulators, infrastructure providers, investors, and partners.

“This will help Nigeria to consolidate its position within the regional and global fintech landscape,” it said.