As Nigeria’s Payments System Vision 2028 reshapes the regulatory agenda, Dennis Ajalie, MD/CEO of TeamApt, a CBN-licensed switching and processing company, speaks to BusinessDay’s Stephen Onyekwelu on what interoperability really means for scale, and what it will take to build a payments infrastructure worthy of Africa’s largest economy. Excerpts
The Central Bank of Nigeria recently published its Payments System Vision 2028 – a blueprint for Nigeria’s payments infrastructure over the next three years. As someone at the centre of that ecosystem, what is your honest read of where Nigeria stands today?
My candid assessment is that the Nigerian landscape has reached a major inflection point, a reality that the PSV 2028 articulates with remarkable precision. We have engineered a truly formidable ecosystem: annual electronic transaction throughput has eclipsed a quadrillion naira, while formal financial inclusion surged from 54% to 64% in a remarkably short time. The fact that transaction volumes
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