Financial leaders convened in Lagos have issued a unified call for payment systems prioritizing Africa’s excluded populations, citing the continent’s persistent 400-million-person financial gap despite digital advances.
Dr. Robert Ochola, CEO of AfricaNenda Foundation, opened the Peer Learning Visit co-hosted with Nigeria Inter-Bank Settlement System (NIBSS) by declaring current exclusion levels “not only unsustainable but unacceptable.”
Speaking before delegates from 10+ African nations, Ochola urged policymakers to build interoperable infrastructure starting from society’s margins. “The real question is: can we build inclusive, scalable systems that serve every citizen — not just the privileged few?” he posed, highlighting Nigeria’s NIBSS platform processing nearly one billion monthly transactions as proof of locally-led success.
NIBSS CEO Premier Oiwoh challenged African nations to reject colonial frameworks. “Africa must move beyond colonial mindsets and build payment solutions by Africans, for Africans. Free trade requires free movement,” he stated, proposing an Africa Regulators Forum on Digital Payments to align standards continent-wide. He credited NIBSS’s real-time clearing capabilities to its partnership with Nigeria’s central bank.
Central Bank of Nigeria representative Musa Jimoh reframed the inclusion challenge, stating: “The true competitor in Africa’s financial landscape is cash, not other institutions.” He urged regulators to transcend jurisdictional silos, emphasizing collaboration as critical for scaling Nigeria’s instant payment model.
The five-day technical forum featured workshops examining Nigeria’s NIP system as a replicable blueprint. Delegates departed committed to adapting its interoperable architecture to national contexts, aiming to transform instant payments from privilege to universal reality across Africa.
