The Central Bank of Nigeria, CBN, has disclosed that payment system downtime and service interruptions increased significantly during the December festive season, popularly known in Lagos as Detty December, exposing coordination gaps across Nigerias digital payments ecosystem.
According to the CBN Fintech Report, insights drawn from surveys of fintech executives, stakeholder workshops and regulatory roundtables, show that while Nigerias core payments infrastructure is broadly resilient, peak-season transaction volumes continue to strain systems, particularly across POS channels, interbank transfers and diaspora remittances.
