Nigeria's digital payments ecosystem is shifting focus from simply widening access to financial services to strengthening the infrastructure, security, and innovation needed for sustained growth, and OPay has aligned itself with that vision.
The Central Bank of Nigeria's Payment System Vision 2028, a strategic roadmap for the country's payments landscape, aims to achieve approximately **95% financial inclusion** by 2028 through expanded mobile money adoption, agency banking, simplified onboarding processes, and improved financial literacy.
OPay said millions of Nigerians, particularly those in rural and underserved communities, still face barriers to formal financial services due to limited banking infrastructure. The fintech company noted that achieving the inclusion target requires more than just increasing the number of account holders.
To bridge the gap, OPay has continued to invest in agent banking networks and mobile-first financial services designed to bring more individuals and businesses into the formal financial system.
The PSV 2028 framework also places significant emphasis on strengthening payment infrastructure through enhanced interoperability, real-time transaction processing, improved payment switching systems, and alignment with global standards such as ISO 20022. OPay noted that the reliability and scalability of payment systems have become increasingly important as digital transaction volumes continue to rise across the country.
On innovation, the roadmap identifies Open Banking, Artificial Intelligence, digital identity systems, embedded finance, and blockchain as key drivers of future growth. OPay stressed that innovation should be focused on solving real customer challenges rather than simply introducing new technologies, and that advancements must be accompanied by responsible implementation and effective governance.
Cybersecurity and fraud prevention form another critical pillar of PSV 2028. The CBN aims to reduce fraud losses across the payments ecosystem to below **0.0001%** of transaction volumes while strengthening public confidence in digital financial services. OPay said trust remains one of the strongest factors influencing adoption and continued use of digital financial services, requiring continuous investment in security systems, fraud prevention measures, customer support, and financial education.
Nigeria has emerged as one of Africa's leading digital payments markets over the past decade, driven by rapid fintech growth and mobile money adoption. In May 2025, the CBN and the Nigeria Inter-Bank Settlement System launched the Non-Resident Bank Verification Number platform, enabling Nigerians abroad to obtain their BVN remotely without in-person verification in Nigeria.
