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The Central Bank of Nigeria (CBN) has launched Release 2 of its Payment System Vision 2020. The document, “urges operators to mobilize available technology to take mobile financial services to the grassroots.” According to Mallam Sanusi Lamido Sanusi, CBN Governor, “launching the PSV2020 Strategy (Release 2) document was a proactive response to address the identified deficiencies in the nation’s financial market infrastructure against the current 24 BIS/IOSCO Principles for Financial Market Infrastructure (PFMI).” The CBN Governor was speaking at the International Conference on Payments System in Abuja, and also said, “the revised system would also help to achieve a much higher target for compliance than was possible in 2007 given the remarkable strides recorded so far in the implementation of e-payment in the face of constraining challenges.” “Since the launching of the PSV2020 in 2007, we identified a 7-point strategic area of focus in the implementation of the PSV2020 Release 2 in order to consolidate the gains recorded in the drive towards higher e-payments compliance level in the country.” “The CBN would ensure that each payment scheme is defined and the exact point at which payments were deemed to have been ‘final and irrevocable’ formally documented, while implicit role of ‘Lender of Last Resort’ for the RTGS payment system would be removed by December 2016 and Deferred Net Settlement system by December 2019.” “The development of Payment System Vision 2020 document in 2007 provided a focused road map for efficient payments system infrastructure utilised nationally and internationally. The CBN licensed 18 Mobile Money Operators (MMOs), pointing out that on a monthly basis, transactions worth an average of over N1 billion were currently being done through the mobile platform.”