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Cardoso outlines roadmap focused on security, reliability, consumer protection and equitable access to digital financial services
The Central Bank of Nigeria (CBN) has unveiled a five-point outcome-based strategy designed to accelerate the next phase of fintech development and deepen sustainable financial inclusion across the country.
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The Governor of the CBN, Olayemi Cardoso, announced the strategic priorities in a goodwill message delivered at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 held in Lagos. He said Nigeria’s rapidly expanding fintech ecosystem must evolve beyond innovation to deliver digital financial services that are reliable, secure, transparent and accessible to every Nigerian.
Represented by the Director of Payments System Supervision, Dr. Rakiya Yusuf, Cardoso emphasized that the Central Bank is repositioning itself from a traditional regulator to an enabler of disciplined innovation that promotes trust, resilience and inclusive growth in the digital financial ecosystem.
CBN Prioritises Reliable and Secure Digital Payments
Cardoso said Nigerians should be able to conduct financial transactions with confidence at all times, including during periods of peak network demand, stressing that platform reliability is fundamental to building trust in digital financial services.
He noted that fintech operators and financial institutions must continue investing in resilient technology infrastructure capable of delivering uninterrupted services while maintaining high standards of operational efficiency.
According to him, cybersecurity and fraud prevention must remain a collective responsibility across the financial services ecosystem.
“Cybersecurity and fraud prevention must remain a shared responsibility. Institutions must continually invest in secure technology, effective controls, and practical customer education,” he said.
Five Strategic Priorities for Nigeria’s Fintech Ecosystem
The CBN Governor outlined five key outcomes that will shape the future of fintech regulation and financial inclusion in Nigeria.
1. Strengthening Platform Reliability
The apex bank wants digital payment platforms to guarantee uninterrupted services, enabling consumers and businesses to carry out transactions seamlessly, even during periods of heavy usage.
2. Enhancing Cybersecurity and Transaction Security
Cardoso said fintech operators must strengthen internal controls, deploy more secure technologies and improve consumer awareness to combat rising cyber threats and digital fraud.
3. Promoting Consumer Protection and Fair Pricing
The CBN also seeks to improve customer experience by ensuring transparent pricing, eliminating hidden charges and providing prompt resolution of complaints and failed transactions.
According to Cardoso, customers should not suffer unnecessary hardship when resolving transaction-related issues.
“Charges should be clear, complaints resolved promptly, and failed transactions addressed without unnecessary hardship to customers.”
4. Expanding Financial Inclusion
The Governor stressed the need for digital financial products to reach underserved communities, rural populations and participants in the informal economy, ensuring that every Nigerian can benefit from secure and affordable financial services.
5. Encouraging Fair Competition
Cardoso said the CBN is committed to maintaining an open and competitive fintech ecosystem by ensuring qualified operators have equitable access to national payment infrastructure while discouraging anti-competitive practices.
Data Localisation to Strengthen Regulatory Oversight
As part of the broader regulatory framework supporting the five strategic outcomes, Cardoso disclosed that the Central Bank is enforcing local processing and storage of payment transaction data generated within Nigeria.
He explained that data localisation will enhance regulatory oversight, improve data security and strengthen the resilience of Nigeria’s digital payment infrastructure.
Measures to Prevent Market Dominance
The CBN also announced plans to implement anti-concentration measures aimed at preserving competition within the fintech ecosystem.
The new market structure requirements are expected to prevent any single fintech operator from dominating critical payment infrastructure or gaining unfair competitive advantages, thereby creating a more level playing field for innovation and investment.
CBN Positions Itself as an Innovation Enabler
Cardoso noted that the Central Bank’s evolving regulatory approach reflects its commitment to fostering responsible innovation while protecting consumers and maintaining financial system stability.
He said the combination of reliable digital infrastructure, robust cybersecurity, consumer protection, broader financial access and competitive market practices will strengthen confidence in Nigeria’s fintech ecosystem and support the country’s long-term digital economy ambitions.
The five-point strategy aligns with ongoing efforts by the apex bank to modernise Nigeria’s payment systems, promote financial inclusion and create an enabling environment for sustainable fintech innovation that benefits individuals, businesses and the wider economy.
