The Central Bank of Nigeria (CBN) has revealed in its Payments Vision 2025 document that Nigeria will become cashless by 2025.Information Guide Nigeria

According to the documents, Nigeria aspires to have a cashless and efficient electronic payment system infrastructure that facilitates financial services in all the sectors of the economy.

RIPPLES NIGERIA reports that, according to the CBN document obtained from its website, the Nigerian payment landscape has many options that have displaced cash in recent times, including electronic bill payment, mobile phone top up, and mobile and instant payments.

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The document stated, “The use of cash will naturally slow with the ‘mobile first generation’, which will be economically active by 2025, hence one of the focuses of the PSV 2025 is enhancing the cashless policy of the CBN.”NYSC portal

Recall that on October 26, 2022, CBN announced that it would redesigned and introduced the higher denominations of the naira- N200, N500 and N1,000 into the economy.

Although the new naira became a legal tender on December 15, 2022, millions of Nigerians are yet to physically see the notes.JAMB Result