Nigeria’s digital payments continue to rise, but cash remains an indispensable part of economic activity, particularly for inclusion and operational efficiency across diverse segments of the economy.
This is according to the General Manager and the Group Head of Retail Operations at Access Bank Plc, Abraham Aziegbe.
He made the remark ahead of the Committee of Heads of Bank Operations’ (CHBO) 2026 Banking Operations Conference.
What the bankers are saying
According to Aziegbe, who is also the Chairman of CHBO, cash remains indispensable despite the growth of digital infrastructure.
“As Nigeria deepens its digital payments infrastructure, cash remains an indispensable part of economic activity.”
He said the 2026 conference is coming at a defining moment for the financial services industry.
“This conference is about confronting operational realities head-on and charting a future where cash is smarter, more efficient and better integrated with digital systems,” Aziegbe said.
He stated that participants would discuss practical strategies for redefining cash operations, including the use of technology to improve traceability and security, strengthening interoperability between cash and electronic channels, reassessing cost and risk frameworks, and enhancing customer experience across payment touchpoints.
Focus on practical and policy-relevant outcomes
Also speaking, Chairman of the Conference Planning Committee, Mr Tolulope Ogundipe, said the agenda had been deliberately structured to deliver actionable outcomes.
“This year’s theme reflects the industry’s shared responsibility to rethink cash beyond legacy processes.
“Our objective is to provide a platform where banks, regulators, switches and service providers can align on sustainable models for cash management in a digital-first era,” Ogundipe said.
He added that CHBO expects the outcomes of the conference to shape industry thinking, inform policy discussions, and support more resilient and forward-looking banking operations as digital adoption continues to accelerate nationwide.
Ogundipe said registration details and programme highlights would be communicated to invited participants ahead of the event.
What you should know
- According to data from the CBN’s latest quarterly statistical bulletin, Nigerians withdrew a total of N36.34 trillion via automated teller machines between January and June 2025, a sharp rise of 197.66% from the N12.21 trillion recorded in the same period of 2024.
- This surge reflects strong reliance on digital infrastructure for financial transactions.
- The data shows that the value of ATM withdrawals nearly tripled year on year, showing the resilience of cash usage even as regulators moved to make cash access more expensive.
