CBN requests for information on payment system vision 2030 PSV2030

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In its effort to develop a new framework that will define the strategic agenda for Nigeria Payment System in the next ten years (PSV2030) and with the near expiration of the existing framework (PSV2020). The Apex Bank has called for information from the general public on the proposed Payment System Vision 2030 initiative. See attached document

The general public is expected to review and respond to all or part of the topics and questions outlined in sections 6,7,8,9,10,11 and 12.

The sections of the proposed PSV2030 initiative to be responded to are:

Section 6: Global trends. Questions are to be considered in the following (New payment methods, Open Banking, Digital Access, Block Chain, Crypo-currencies, Big Data, Cyber Security and Digital Identity)

Section 7: Operational consideration. Questions are to be considered in the following (Common platform, Differing levels of functionality, Operating hours, Real-time position management, Payment tracking, Data standard, Technology platform, API versus message-base solution, Operational control, Quality of service, Consumer protection, Disaster recovery and contingency and Domestic and international flows).

Section 8: Operational parameters. Questions to be considered in the following (Support financial inclusion, inter-operable, Cooperation versus competition and Future-proof and incremental development)

Section 9: Practices in other countries. Questions to be considered in this section of the Payment System Vision 2030 document is the practices in other countries.

Section 10: Regulatory and governance. Questions to be considered in the following (Build in PFMI conformance, Legal framework, Regulatory and governance structure and Compliance monitoring)

Section 11: Dependencies. Questions to be considered in the following (Infrastructure and Capacity planning)

Section 12: Question will be welcomed in any other areas of consideration not mentioned in the Payment System Vision document.

The response is expected to be sent in writing to the CBN office in Abuja to the attention of the Director Payment System Management Department or email to TOLADIMEJI@cbn.gov.ng and UUAKAH@cbn.gov.ng on or before 7th of June 2019.

Payment system vision

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