AfriGO Processes Over ₦70 Billion in Transactions, Strengthening Nigeria’s Digital Payment Sovereignty
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Nigeria’s first domestic debit card, AfriGO, has processed over ₦70 billion worth of transactions in 2025, marking a major milestone in the country’s drive toward a more inclusive and locally controlled digital payment system.
The figure was revealed by Premier Oiwoh, Managing Director and CEO of the Nigeria Inter-Bank Settlement System (NIBSS), who noted that AfriGO remains the only card globally that enables instant credit on point-of-sale (POS) transactions. According to him, this unique feature has fueled rapid adoption among merchants across Nigeria.
Oiwoh further disclosed that over one million AfriGO cards have been issued nationwide. Designed to facilitate seamless ATM withdrawals, digital payments, and offline transactions, the card is a key initiative by the Central Bank of Nigeria (CBN) and NIBSS to promote financial inclusion and extend banking access to the unbanked population.
Launched in 2023, AfriGO was introduced to revolutionize Nigeria’s payment infrastructure by ensuring instant merchant settlements and improving transaction efficiency. Beyond convenience, the card reinforces data sovereignty, as all transactions are processed locally, protecting users’ sensitive payment information and aligning with Nigeria’s broader push for digital independence.
In a significant development, Oiwoh confirmed that the upcoming National Identity Management Commission (NIMC) multipurpose ID card will incorporate the AfriGO payment rail. This integration will allow millions of Nigerians to access financial services directly through their national identity cards.
The new General Multipurpose Card (GMPC) launched by NIMC serves both as a national ID and a debit or prepaid card, using biometric authentication like fingerprints for secure transactions. It will also integrate with government social intervention programs and function as an ECOWAS travel card.
To accelerate distribution, AfriGO has partnered with leading fintechs including Moniepoint, PalmPay, OPay, and Flutterwave, targeting over 10 million card distributions nationwide. These collaborations aim to expand access to affordable, secure, and instant financial services, especially for underserved communities.
According to Tosin Eniolorunda, CEO of Moniepoint Inc., the Moniepoint/AfriGO card is not just a product; it’s a vital tool that will extend our reach, particularly to those traditionally excluded from the formal financial system.
AfriGO’s growth also supports the Federal Government’s financial inclusion drive, which seeks to integrate over 20% of Nigeria’s unbanked population into the formal economy. Competing with global giants like Visa, Mastercard, and Verve, AfriGO positions Nigeria as a key player in the ₦22 billion cards and payments market.
The card is also integrated with the eNaira, Nigeria’s Central Bank Digital Currency (CBDC), enhancing its digital capabilities and reducing foreign exchange dependence. Meanwhile, the Federal Government’s plan to eliminate transfer fees on the NIBSS Instant Payment (NIP) platform underscores its commitment to advancing a cashless and digitally driven economy.
As Oiwoh emphasized, the future of Nigeria’s financial system depends on strengthening national payment infrastructure, ensuring security, resilience, and innovation in the evolving fintech ecosystem
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