The Federal Government may soon begin disbursing salaries, pensions and social welfare benefits through the eNaira as part of a new roadmap by the Central Bank of Nigeria (CBN) to transform the country’s digital currency into a major payment channel.
The proposal is contained in the Nigeria Payments System Vision 2028 (PSV 2028), a strategic document released by the apex bank outlining plans to expand the use of the eNaira and reposition it from a pilot initiative to a core payment infrastructure for both public and private sector transactions.
Launched in October 2021, the eNaira became Africa’s first Central Bank Digital Currency (CBDC). It was introduced to promote financial inclusion, reduce transaction and remittance costs, and support Nigeria’s transition to a cashless economy. Despite regulatory backing and public awareness campaigns, adoption of the digital currency has remained relatively limited.
Under the new payments vision, the CBN said it would review and strengthen the existing CBDC framework to align it more closely with market realities and operational requirements.
According to the document, the apex bank plans to “transition CBDC from pilot to core payment rail through defined use cases,” identifying government-to-person payments, payroll processing, offline transactions and micro-enterprise enablement as key areas for deployment.
If implemented, government salaries, pensions, conditional cash transfers and other public-sector payments could be channelled through the eNaira platform in a move aimed at improving payment efficiency, reducing costs and accelerating adoption of the digital currency.
The CBN also highlighted the programmable-money capabilities of the eNaira, noting that the technology could support advanced features such as purpose-specific payments, time-limited spending, payment splitting and the creation of sub-wallets.
According to the bank, these functionalities could enhance the management and monitoring of funds while creating new opportunities for targeted payments and financial services.
Beyond retail payments, the apex bank said the eNaira could strengthen financial market infrastructure by supporting settlement systems, banks and tokenised financial assets, including bonds and securities. The initiative is expected to improve transaction speed, reduce settlement costs and increase overall efficiency in the financial system.
The proposed expansion forms part of the broader Payments System Vision 2028, which seeks to modernise Nigeria’s payment ecosystem through stronger digital infrastructure, wider adoption of financial technology and the deployment of innovative payment solutions.
CBN Governor Olayemi Cardoso, in the foreword to the document, said the vision was designed to consolidate Nigeria’s position as one of Africa’s leading digital payments markets while improving efficiency, resilience and financial inclusion.
He stated that the strategy would focus on modernising payment infrastructure, strengthening regulatory and supervisory frameworks, accelerating digital financial services and promoting collaboration among stakeholders across the financial sector.
The document further showed that the CBN intends to deepen and scale existing initiatives, including contactless payments, open banking and the Central Bank Digital Currency.
The Deputy Governor for Economic Policy, Dr. Muhammad Abdullahi, said the vision would support broader adoption of digital currencies and emerging payment technologies within a secure and well-regulated environment.
He noted that the strategy seeks to build on existing progress while evaluating and deploying new technologies capable of expanding the reach, quality and functionality of financial services across the country.
Despite recording millions of wallet registrations and transactions valued at approximately N22 billion since its launch, the eNaira has struggled to gain widespread acceptance in everyday commercial activities.
The CBN acknowledged that the digital currency faces challenges including limited merchant adoption, weak integration with banking and fintech platforms, and the absence of active cross-border CBDC payment corridors.
To address these issues, the bank plans to reposition the eNaira as a platform for government payments, remittances and trade settlements while opening application programming interfaces (APIs) to enable deeper fintech integration.
The apex bank also disclosed plans to pursue bilateral CBDC corridor pilot programmes with key trade and remittance partner countries to facilitate cross-border transactions and enhance international payment efficiency.
The proposal comes amid growing global interest in central bank digital currencies. Across the world, central banks are increasingly exploring digital currencies as alternatives to physical cash and private digital assets, with more than 130 countries reported to be researching, piloting or developing CBDC projects.
For Nigeria, the success of the proposed reforms could determine whether the eNaira evolves into a widely used payment platform capable of supporting government disbursements, financial inclusion and broader digital economic growth.
