CBN Unveils New Roadmap to Protect Nigerians’ Digital Money
By Patience Ikpeme
The Central Bank of Nigeria has shared a clear plan for how it will manage the country’s growing digital money space as we move through 2026.
According to the latest details from the apex bank, the focus is now on making sure that every Nigerian can safely use their phones and computers for money matters without fear of fraud or system failures.
In the report, the CBN explained that the era of “anything goes” in the digital space is over. The bank said it is moving to a stage where it will keep a much closer eye on companies that provide POS services, mobile money, and online loans to ensure they follow strict rules that protect the average person on the street.
One of the biggest parts of this plan is the push to make sure people in rural areas are not left behind.
The CBN notes that while many people in big cities now pay for everything with their phones, many Nigerians in villages still struggle to access basic banking.
To fix this, the bank plans to support “Agent Banking” even more. These are the small shops in various neighborhoods that help people withdraw or send money. The goal is to make these agents so common that no Nigerian has to travel long distances just to see a bank.
On the issue of safety, the report makes it clear that the Bank is taking cyber-crimes very seriously. The CBN says it is setting up a new way to check how these fintech companies handle people’s data and money.
The CBN stated that it wants to create a “safety net” so that if a digital bank has issues, the customers do not lose their life savings. This involves making sure these companies have enough money in their own accounts to stay stable, similar to how big traditional banks are monitored.
The Bank also spoke about the future of the “eNaira” and other digital currencies. The report mentions that the CBN is looking at how to make digital versions of the Naira work better for daily trades and even for sending money from abroad.
It added that it wants to “bridge the gap” between the old way of using cash and the new way of using digital tools, making the transition smooth for everyone from market women to big businessmen.
For those who use online loan apps, the CBN has a message of hope. The report says the bank will work to stop the bad behavior of some “loan sharks” who harass people. By setting better rules for how these apps should work, the CBN intends to make borrowing money online a more respectable and less scary experience for Nigerians.
In the area of innovation, the bank says it is opening its doors for new ideas but only if they are safe. It mentions something called a “Regulatory Sandbox,” which is like a practice ground where new fintech ideas can be tested under the watchful eye of the CBN before they are allowed to go out to the public. The Bank believes this will allow Nigeria to have the best technology in Africa without putting the economy at risk.
The Governor of the Central Bank, Olayemi Cardoso, has previously said that the bank’s goal is to bring the number of Nigerians who have access to financial services to over 70 percent. This latest report shows that the Bank plans to use technology as the main engine to reach that target.
As the country moves towards 2026, the CBN promises to keep talking with the people and the companies to make sure the digital economy works for everyone.
The Bank said its priority is to build a system that Nigerians can trust with their “hard-earned money” while enjoying the speed and ease that modern technology brings.
