CBN's Payment System Vision 2028: Blockchain Surveillance and Data Localization Redefine Nigeria's Fintech Rules

The Central Bank of Nigeria's Payments System Vision 2028 (PSV 2028) is rolling out a two-pronged regulatory overhaul that will fundamentally reshape how fintechs operate in the country. The regulator plans to run observer nodes on blockchain networks hosting approved stablecoins, giving it real-time visibility into transactions without relying on third-party reports. Simultaneously, a June 15 circular mandates that all payment transaction data be stored and managed within...