ABUJA — The Federal Government is exploring the use of the eNaira as a primary channel for distributing salaries, pensions, and social welfare benefits. This initiative is a central component of the Central Bank of Nigeria’s (CBN) newly unveiled Nigeria Payments System Vision (PSV) 2028.

Repositioning the eNaira

Since its launch in 2021, the eNaira has struggled to achieve widespread adoption, largely due to limited merchant integration and competition from established fintech and banking platforms. Under the PSV 2028 roadmap, the CBN aims to shift the eNaira from its pilot status to a core payment rail for government-to-person (G2P) payments.

Key applications identified in the vision document include:

  • Government Disbursements: Streamlining payroll, pension payments, and conditional cash transfers.

  • Programmable Money: Utilizing advanced features such as time-limited spending, purpose-specific payments, and payment splitting.

  • Operational Efficiency: Leveraging the eNaira’s infrastructure to make public-sector transactions faster, cheaper, and more traceable.

Strategic Objectives (PSV 2028)

The PSV 2028 strategy, launched earlier in June 2026, aims to consolidate Nigeria’s position as a leading digital payments market. According to CBN Governor Olayemi Cardoso, the vision seeks to improve resilience and inclusiveness, with a goal of reaching 95% financial inclusion by 2028.

To facilitate this transition, the CBN plans to:

  • Open APIs: Integrate the eNaira more deeply with fintech and banking applications.

  • Cross-Border Corridors: Launch bilateral CBDC pilots with key trade and remittance partners.

  • Enhance Infrastructure: Modernize payment systems to better support tokenized financial assets and strengthen financial market infrastructure.

Despite recording millions of wallet registrations and transactions valued at approximately ₦22 billion, the CBN acknowledges that the digital currency’s usage in everyday economic activities remains low. The new roadmap represents a concerted effort by the apex bank to drive adoption by embedding the eNaira into essential government and domestic economic processes.