Beyond financial inclusion, Nigeria’s central bank is chasing regional payments leadership 

In the first half of 2007, Nigerians processed ₦946.22 million ($695,469) in point-of-sale (PoS) transactions. In the first quarter of 2025, that figure grew to ₦10.51 trillion ($7.73 billion). 

The growth was the product of a series of policy decisions by the Central Bank of Nigeria (CBN), which has spent nearly two decades trying to reduce the country’s reliance on cash and build a…