Despite processing over ₦1.2 quadrillion ($880.5 billion) in transactions in 2025, Nigeria's real-time payment ecosystem faces a critical turning point. A new report by policy institute Bridgforte and the UNDP Innovation Hub reveals that expanding financial access is no longer the main priority. Instead, maintaining user confidence in the system has become the primary challenge.
Operational Failures Outweigh Fraud Concerns
The study shows that everyday operational issues—such as failed transfers, network downtime, and delayed dispute resolution—erode public trust far more than fraud or artificial intelligence risks. Because consumers view digital finance as a single connected system, a failure at one bank, payment gateway, or fintech provider damages confidence across the entire ecosystem.
Building a Shared Trust Architecture
To address these vulnerabilities, the Central Bank of Nigeria (CBN) has integrated trust into its Payments System Vision for 2028, targeting an 80% trust index score. Experts emphasize that long-term adoption depends on cross-industry collaboration. Financial institutions must share fraud intelligence, improve operational resilience, and resolve customer grievances efficiently to prevent users from reverting to cash.
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