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‘Digitization of Social Protection, Humanitarian Payments Enhancing Financial Inclusion in Nigeria’

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A joint report from FSD Africa, Enhancing Financial Innovation and Access (EFInA) and the GSMA, and conducted by Strategic Impact Advisors (SIA), has revealed that a gradual transition from physical cash transfers to digital would improve the recipients’ usage.

The report noted that although this transition will not be immediately possible everywhere due to limited network connectivity, low mobile phone ownership levels, and low literacy rates among other barriers, it outlined different opportunities for social protection and humanitarian actors, and the private sector, to work together to support increased access to digital payments for poor and vulnerable recipients of assistance.

The Central Bank of Nigeria (CBN) has been championing the government’s efforts by designing policies that could enhance the transition from physical cash transfers to digital. The CBN is committed to achieving their 95% financial inclusion target set for 2024.

The report, “Opportunities and Barriers to Digitising Social Protection and Humanitarian Payments in Nigeria,” highlighted the opportunities within digitisation of cash transfers and presented a roadmap for its actualisation.

The study reinforces the need to create an ecosystem in which recipients could eventually access cash transfers on a permanent digital wallet through their mobile phones, leading invariably to multi-choice usage, which they can then use to transact to meet all of their needs and help to reduce reliance on physical cash.

Also, the report offers recommendations to improve Nigeria’s capacity to deliver digital payments to the poor.

It points out the need for humanitarian and social protection organizations to work in partnership with the Government and financial service providers to support an enabling environment to reach last mile recipients, the importance of coordination to promote a more cohesive use of cash transfers wherever appropriate, and efforts to better inform the development and extension of relevant services by payment providers wherever feasible.

The report noted that there are pockets of digital transaction-ready recipients who could support the development of digital payment ecosystems and help to advance financial inclusion. Although digital payments will not be enough to bridge the financial inclusion gap in Nigeria, access to digital payments is an integral component and this report charts out practical next steps.

Commenting on the report, Director – Digital Economy at FSD Africa, Juliet Munro said: “Cash transfers are a vital source of income for many underserved households.

“We are delighted about the ongoing conversations with our partners on the existing possibilities to digitise cash payments. Once the systems are in place, the targeted households will be able to access the much-needed aid faster and more efficiently.”

CEO at EFInA, Ashley Immanuel said: “Fintech Innovation is a key driver of financial inclusion and very useful in providing access to financial services, especially for the underserved. Digitising cash transfers will help reduce the burden for cash disbursement and support recipients’ application of healthy financial habits like saving.”

On his part, Development Director at FCDO Nigeria, Chris Pycroft, said: “Really encouraged to see this report highlight principled and important opportunities for development actors to support increased access to payments among the poor, lay the foundations for financial inclusion, and harness Nigeria’s growing Fintech scene.”

 


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UK Appoints Peter Vowles as British High Commissioner to Nigeria

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The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.

Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.

He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.

Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.

Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”


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Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

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World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.

The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.

According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.

The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.

He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.

The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.

It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.

The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.

Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.

It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.

The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.


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PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

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As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.

These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”

PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.

Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.

“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”

The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.

For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.


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