The National Identity Management Commission (NIMC), the Nigeria Interbank Settlement Systems (NIBSS), AfriGO, and other stakeholders have concluded plans to roll out digital cards with multiple wallets, which are expected to drive financial inclusion and contribute to Nigeria’s Gross Domestic Product (GDP).
These digital cards with multiple wallets are also expected to allow Nigerians to access government services in all Ministries, Departments, and Agencies (MDAs) of the government. Additionally, they will provide platforms for students to access government loans.
The Director General/Chief Executive Officer of NIMC, Engr. Abisoye Coker-Odusote, while addressing journalists in Abuja, stated that the biometric NIMC-enabled cards have multiple features designed to address the socio-economic needs of Nigerians in line with the eight-point agenda of President Bola Tinubu.
Engr. Coker-Odusote was supported by the Managing Director/CEO of NIBSS, Mr. Premier Oiwoh; the Managing Director/CEO of AfriGO, Mrs. Ebehije Momoh; and the Managing Director of Data Mining Company, Mr. Femi Akande.
She explained that stakeholders were brought together to discuss the various benefits of digital cards for Nigerians and their overall impact on the economy, as President Tinubu aims to implement his welfare programs using digital identity verification as a key platform.
ALSO READ: Bye-elections: No law stops serving lawmakers from contesting — Reps member
The NIMC boss further noted that the multipurpose cards would be available to citizens both within Nigeria and in the diaspora, as well as to legitimate residents. These cards could be used for various transactions, including payments for water and electricity bills, transportation services, and shopping, among others.
She explained that the digital cards could be used both online and offline to provide services for unbanked citizens in rural areas and to support businesses requiring government assistance. She emphasized that with such opportunities, Nigerians would not need political connections to access government services and support.
Engr. Coker-Odusote also noted that the digital cards could not be forged due to the various security features they contain. She stressed that they were designed to meet the government’s current needs, ensuring that there are no ghost beneficiaries of government palliatives, loans, and other benefits.
She, however, assured that the cards would significantly boost the economy by improving revenue generation and increasing the country’s GDP, as state governments and the private sector would actively participate in the initiative.
Speaking on behalf of other stakeholders, the CEO of AfriGO, Mrs. Ebehije Momoh, said the launch of the cards would transform Nigeria’s economy by ensuring that the flow of money remains within the country.
“The digital card is a domestic solution to drive financial inclusion, enhance cost-effectiveness, and promote transparency within the system. It will ensure data sovereignty and autonomy, and we all know that data is crucial for economic growth,” she stated.
“This card will help reduce costs, particularly foreign exchange expenses incurred by banks. Domestic payments are essential for supporting government welfare and social intervention programs. It will also promote the cashless policy and ensure that our money remains within the economy.
“We already have about 26 banks issuing the cards, and more are expected to join. Nigeria is the first country to introduce this innovation, and it will undoubtedly enhance micro, small, and medium enterprises (MSMEs) across the country,” she added.
