Nigeria’s digital payments landscape is expanding rapidly, yet cash continues to play an indispensable role in economic activity, supporting financial inclusion and operational efficiency across various segments of the economy.

This observation was made by the General Manager and Group Head of Retail Operations at Access Bank Plc, Abraham Aziegbe.

He spoke ahead of the Committee of Heads of Bank Operations 2026 Banking Operations Conference.

Aziegbe, who also serves as Chairman of CHBO, emphasised that cash retains its critical importance even as digital infrastructure grows.

“As Nigeria deepens its digital payments infrastructure, cash remains an indispensable part of economic activity.”

He described the 2026 conference as occurring at a pivotal 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 explained that participants will explore practical strategies for modernising cash operations, including deploying technology to enhance traceability and security, improving interoperability between cash and electronic channels, reviewing cost and risk frameworks, and elevating customer experience across all payment touchpoints.

Also speaking, the Chairman of the Conference Planning Committee, Mr Tolulope Ogundipe, noted that the agenda has been carefully designed to produce concrete results.

“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 anticipates the conference outcomes will influence industry perspectives, guide policy discussions, and foster more resilient and forward-thinking banking operations as digital adoption accelerates across the country.

Ogundipe stated that registration details and programme highlights will be shared with invited participants before the event.

Data from the Central Bank of Nigeria’s latest quarterly statistical bulletin shows that Nigerians withdrew a total of N36.34 trillion through automated teller machines between January and June 2025, representing a 197.66% increase from the N12.21 trillion recorded in the same period of 2024.

This sharp rise underscores continued strong reliance on digital infrastructure for accessing cash.

The figures indicate that the value of ATM withdrawals nearly tripled year-on-year, highlighting the enduring demand for cash despite regulatory measures to increase the cost of cash access.