Nigerias participation in the Pan-African Payment and Settlement System PAPSS recorded a sharp contraction in the first half of 2025, as the value of cross-border transactions processed through the platform fell by 53 per cent to N5.6 billion.
The Central Bank of Nigeria, CBN, disclosed this in its Financial Stability Report, June 30th, 2025, which showed that Nigerian participants settled 3,246 transactions on PAPSS during the period, representing a 29 per cent decline from the 4,600 transactions recorded in the preceding half-year. Transaction value also dropped significantly from 11.97 billion, highlighting a pullback by Nigerian users from the continent-wide payment platform.
