As Nigeria navigates a complex transition toward a digital-first financial landscape, the Committee of Heads of Bank Operations (CHBO) has announced a high-level strategic summit to address the persistent role of physical currency. On Friday, January 23, 2026, the industry’s top decision-makers will convene at The Bankers House, Lagos, to move the conversation from “cashless” to “cash-smart.”
1. The Strategic Mandate: Re-imagining, Not Replacing
The 2026 conference theme, “Re-imagining the Future of Cash in a Digital-First Economy,” acknowledges a fundamental reality: despite the explosion of electronic payments, cash remains an indispensable anchor for Nigeria’s informal markets and underserved rural communities.
Chairman of CHBO, Mr. Abraham Aziegbe, ACIB, notes that the industry must confront these “operational realities head-on.” The objective is not the elimination of cash, but its integration—ensuring it becomes smarter, more traceable, and more efficient within the digital ecosystem.
2. A Multilateral Industry Dialogue
The conference serves as a rare convergence point for the various pillars of the financial system:
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Regulators: Strategic participation from the Central Bank of Nigeria (CBN) and NIBSS.
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Bank Executives: Heads of Operations, E-Business, Compliance, and Information Security.
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Service Providers: Licensed Cash Managers and Payment Service Providers (PSPs).
3. The 2026 Innovation Agenda
Led by the Planning Committee Chairman, Tolulope Ogundipe, ACIB, the summit will focus on five “Actionable Insights” designed to shift industry policy:
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Traceability Tech: Leveraging blockchain and digital tagging to improve cash security and auditing.
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Interoperability: Strengthening the “handshake” between cash-out points (PoS/ATMs) and digital wallets.
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Cost Rationalization: Reassessing the high logistical costs of physical cash management in an era of digital dominance.
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Risk Frameworks: Strengthening the defenses against illicit finance while maintaining fluid liquidity for legitimate trade.
The Bottom Line
The 2026 CHBO conference is expected to be a watershed moment for banking operations. By moving away from the “legacy processes” of the past, the committee is helping Nigeria build a resilient, multi-modal payment system where cash and digital channels coexist to support the diverse needs of 200 million citizens.
