NIMC’s Multipurpose Card to Boost Financial Inclusion for 30m Nigerians
NIMC
The Managing Director of AfriGo, Ebehijie Momoh, has stated that the newly introduced multipurpose card by the National Identity Management Commission (NIMC) could significantly enhance financial inclusion by bringing about 30 million Nigerians into the financial system.
Speaking at Nigeria Fintech Week 2024 in Lagos, Momoh explained that AfriGo, Nigeria’s local card scheme, is collaborating with NIMC to issue the cards to Nigerians, linking them to their National Identification Numbers (NIN).
She highlighted that over 100 million Nigerians currently possess NINs, and with this infrastructure in place, it could lead to millions gaining access to financial services. According to Momoh, the integration of government disbursements into these cards will also enhance efficiency and transparency, contributing to closing the financial inclusion gap.
Momoh further emphasized the importance of awareness and affordability in driving financial inclusion in Nigeria, where only 55 million out of a population of 126 million currently have access to banking services. AfriGo’s strategic partnership with NIMC aims to create a seamless process for bringing unbanked individuals into the financial ecosystem.
Beyond financial inclusion, AfriGo has developed impactful solutions, including contactless payment systems for the transportation sector. These contactless cards will allow users to make transactions even in areas with limited internet connectivity, addressing Nigeria’s infrastructure challenges.
The NIMC had earlier announced in April the launch of the multipurpose National ID card, which will serve for identity verification, payments, and access to government services. However, despite its potential to support government interventions and the eNaira, the issuance date for these cards remains unclear.
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