CBN, banks, fintechs launch joint platform to fix payment gaps

The Central Bank of Nigeria (CBN), commercial banks, and fintech operators have launched a joint platform, the Payments Service Providers Committee (PSPC), to address structural gaps in the country's payment system. Inaugurated in Lagos, the committee aims to enhance collaboration and innovation in the digital payments ecosystem, which processed over 11.2 billion electronic transactions in 2024. The CBN plans to unveil a new payments vision within a month, co-created with industry players.