NIMC Card Poised to Boost Financial Inclusion in Nigeria – Ebehijie Momoh
The Managing Director of AfriGo, Ebehijie Momoh, has announced that the recently introduced multipurpose card by the National Identity Management Commission (NIMC) could significantly increase financial inclusion in Nigeria.
According to her , the card has the potential to bring an additional 30 million people into the financial system. AfriGo, a local card scheme in Nigeria, is partnering with NIMC to issue the card to Nigerians. Momoh emphasized that linking government disbursements to these cards will streamline processes, enhance transparency, and ultimately bridge the financial inclusion gap in the country.
“With over 100 million Nigerians already possessing a National Identification Number (NIN), we can immediately expand financial access to 30 million more people by issuing this multipurpose card,” she stated.
Leveraging NIN for Financial Inclusion
Momoh highlighted the current state of financial inclusion in Nigeria, noting that only a portion of the country’s 126 million population has access to financial services. She emphasized the opportunity to bring millions of people into the financial system by leveraging their NINs and issuing multipurpose cards.
“Currently, we have approximately 55 million people with bank accounts and over 100 million with NINs. This represents a substantial opportunity to improve financial inclusion. Our collaboration with NIMC aims to create multipurpose cards linked to NINs to facilitate this process,” she explained.
Momoh identified awareness and affordability as crucial factors in driving financial inclusion in Nigeria. She stressed the importance of educating the public about the benefits of financial inclusion and ensuring that the cost of accessing financial services is affordable for all.
Momoh highlighted AfriGo’s commitment to developing impactful solutions that address the unique challenges faced by Nigerians. One of the company’s significant innovations is its contactless payment solution for offline services in the transportation sector. This solution enables commuters to use contactless cards to pay for bus services, even in areas with limited or no internet connectivity.
“Our contactless payment solution is a game-changer in Nigeria, where inconsistent online infrastructure can be a major obstacle. By collaborating with a fintech partner, we have ensured that our cards can be used for transportation services, regardless of network availability,” she said.
Source: Nairametrics
