This study investigates the impact of banking innovation on economic growth in Nigeria, with a particular focus on digital payment services, electronic banking services, and the Bank Verification Number (BVN) system. Despite the rapid uptake of financial technologies in Nigeria, empirical research on their impact on the economy is limited. The study seeks to address this gap by examining the relationship between various banking innovations and Nigeria's Gross Domestic Product (GDP). The research uses time series data from 2009 to 2023, analyzing variables such as Point of Sales Machine transactions (POSM), Mobile Banking App transactions (MOBA), Automated Teller Machine transactions (AUTM), Bank Verification Number registrations (BVRN), and Real Gross Domestic Product (RGDP). The methodology includes descriptive statistics, Augmented Dickey-Fuller (ADF) unit root tests, Johansen cointegration analysis, and an Error Correction Model (ECM). The findings reveal that all banking innovation variables are positively and significantly linked to economic growth, both in the short and long term. The Johansen cointegration test indicates a long-run equilibrium relationship between these variables and economic growth. The ECM results show that mobile banking has the strongest short-run impact on economic growth, followed closely by the BVN system. Additionally, POS and ATM transactions significantly contribute to GDP growth. The study concludes that banking innovation is a critical driver of Nigeria's economic growth, providing evidence for the financial innovation-led growth hypothesis in the Nigerian context. However, the relatively lower impact of POS transactions suggests that there is room for further development in this area. Based on the findings, the study recommends policies to encourage the adoption of mobile banking, strengthen the BVN system, enhance POS usage, and continue investment in ATM infrastructure. It also advocates for a supportive regulatory framework, financial literacy programs, and cross-sector collaboration to maximize the potential of banking innovations for economic growth.