E-payments in Nigeria hit N384 trillion in July — CBN 

Nigeria’s journey towards a completely cashless financial system continues to realize momentum as digital fee transactions surged to N384 trillion in July 2025, in response to the Central Bank of Nigeria (CBN).

This marks a major rise from N280 trillion in August 2024, reflecting deepening public confidence in digital funds and the speedy transformation of the nation’s monetary ecosystem.

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, disclosed this whereas talking throughout the opening ceremony of the Nigeria Fintech Week 2025 in Lagos.

Cardoso, who was represented by the Director of Cost System Supervision on the apex bank, Opemi Yusuf, mentioned by way of quantity, the nation recorded 4.12 billion digital transactions in July 2025, up from 3.9 billion a yr earlier.

“During the last yr, we’ve seen robust adoption of digital channels with whole digital funds reaching over 3.9 billion transactions valued at N280 trillion in August 2024 in comparison with the expansion of 4.12 billion transactions valued at N384 trillion by July 2025,” he acknowledged.

Development pushed by confidence 

The CBN governor famous that the sustained development in digital transactions mirrors the rising confidence of Nigerians in digital platforms and underscores the success of reforms throughout the fee ecosystem.

• To take care of this momentum, he mentioned, the apex bank has prioritized integrity and safety by way of stringent requirements, enhanced cybersecurity frameworks, and superior fraud detection applied sciences.
• Cardoso reaffirmed the CBN’s dedication to “accountable innovation” that encourages creativity whereas sustaining monetary stability.
• He cited initiatives corresponding to open banking, which when totally operational, would foster better competitors and allow tailor-made monetary providers for patrons.

“As Nigerians advance in the direction of a cashless financial system, the muse of progress should stay belief in our fee system. Innovation loses its which means if customers aren’t assured within the security of their cash or the safety of their information,” he mentioned.

The CBN Governor added that the apex bank continues to work carefully with the Nigeria Digital Fraud Discussion board and regulation enforcement businesses to fight digital crime and defend customers.

“By balancing innovation with prudent oversight, we permit new applied sciences to flourish whereas defending customers and the broader monetary system. A symphony is incomplete if some devices are silent,” he mentioned in reference to the theme of the discussion board.

Fintech leaders push for collaboration 

In his opening tackle on the occasion, President of the Fintech Affiliation of Nigeria (FintechNGR), Dr. Stanley Jacob, described this yr’s theme, “The FinTech Ecosystem Symphony: Orchestrating Nigeria’s Digital Future”, — as a name to collective motion.

“This isn’t merely an occasion; it has turn out to be a press release of intent,” Jacob mentioned, urging contributors to grab the chance to forge partnerships and make impactful offers that can form the sector’s future.

Additionally talking, Vice President of the Affiliation and Chair of the 2025 NFW, Dr Jameelah Sharrief-Ayedun, famous that for the primary time, apart from having numerous sector participation, the NFW is going on concurrently in a couple of metropolis.

In accordance with her, past Lagos, the occasion can also be holding in Abuja, Delta and Enugu on the similar time.

In his remarks, President of the Africa Fintech Community (AFN), Dr. Segun Aina, highlighted Nigeria’s management function in Africa’s fintech evolution, noting that the nation is house to 4 of the continent’s 9 fintech unicorns.

“Nigeria nonetheless has lots of challenges, however it additionally has immense potential. A few of you right here as we speak will go on to guide the following technology of African fintech unicorns,” Aina mentioned.

• Aina disclosed that AFN is working with regulators, together with the CBN, on a “Fintech Licensing Passporting” framework aimed toward easing the method for startups to function seamlessly throughout African international locations.
• The initiative, he mentioned, would harmonize regulatory necessities and promote cross-border fintech growth.