A new report by policy research institute Bridgforte, produced in partnership with the United Nations Development Programme, UNDP, Innovation Hub, has warned that Nigeria’s digital finance challenge is no longer payment speed but public trust. The report argues that confidence in the financial system now depends more on reliable service delivery and effective dispute resolution than on transaction volumes or technological innovation.
Although Nigeria processed more than ₦1.2 quadrillion in digital transactions in 2025 and has significantly expanded formal financial inclusion, the report said recurring issues such as failed transfers, delayed reversals and poor complaint resolution continue to weaken consumer confidence. It identified service reliability and dispute resolution as the leading factors eroding trust, ahead of concerns about fraud, data privacy and Artificial Intelligence.
Bridgforte founder and former Central Bank of Nigeria Deputy Governor, Aishah Ahmad, said trust is an outcome of strong governance rather than infrastructure alone, stressing that consumers view the financial system as a single ecosystem regardless of which institution is responsible for a failed transaction. She called for stronger collaboration across banks, fintechs and regulators on fraud prevention, cybersecurity, operational resilience and customer complaint resolution.
The report aligns with the Central Bank of Nigeria’s Payment System Vision 2028, which identifies trust as a key policy objective and targets an 80 per cent trust index by 2028. Bridgforte also recommended the creation of a national trust barometer to monitor consumer confidence over time, warning that without sustained trust, digital financial inclusion and investment in payment infrastructure could fail to achieve their full economic impact.