Nigeria's Digital Financial Infrastructure Faces New Scrutiny as e-Payments Surge Past N1 Quadrillion

NITDA Director-General Kashifu Inuwa delivered a blunt warning to Central Bank of Nigeria regulators last week: traditional bank-by-bank supervision is dead. Speaking at the CBN's Committee of Departmental Directors retreat in Lagos, Inuwa argued that Nigeria's rapid shift to electronic payments — which hit approximately N1.07 quadrillion in 2024 — has stretched the financial system far beyond what periodic bank returns can capture. He called for real-time, end-to-end visibility...