NIMC, NIBSS, Others to Introduce Digital Cards with Multiple Wallets

National Identity Management Commission (NIMC), Nigeria Interbank Settlement Systems (NIBSS), AfriGO and other stakeholders are set to roll out digital cards with multiple wallets to drive financial inclusion and improve Nigeria’s Gross Domestic Product (GDP).

The digital cards with multiple wallets would allow Nigerians to have access to government services in all Ministries, Departments and Agencies (MDAs) of government, while it would also provide platforms for students to access government loans.

Already, Nigerian farmers captured under the Federal Ministry of Agriculture and Food Security, (FMAFS) have embraced the digital cards for government services in areas of provision of agric loans, seedlings and other inputs that would improve food production and security.

Abisoye Coker-Odusote, director general/chief executive officer, NIMC,  said the biometric NIMC-enabled cards have multiple features to address the socio-economic needs of Nigerians in line with the 8 point Agenda of President Bola Tinubu.

Coker-Odusote, who addressed newsmen at the headquarters of NIMC in Abuja on plans regarding the launch of the cards, was flanked by Mr Premier Oiwoh, managing director/CEO, NIBSS; Mrs Ebehije Momoh, managing director/CEO of AfriGO; and Mr Femi Akande, managing director, Data Mining Company.

She said the stakeholders were brought together to explain the different benefits associated with the digital cards to Nigerians and the general impact it would have on the economy as President Tinubu hoped to drive his welfare programmes using digital identity verification as a major platform.

According to her, the multiple purpose cards would be available to citizens, home and abroad and legitimate residents who could use the cards for various transactions, especially payments of water and electricity bills, transportation services, and shopping, among others.

The cards, NIMC boss explained, could be used off line and online to provide services for unbanked citizens in rural areas and bring on board those whose businesses required government support for survival, noting that with such opportunities, Nigerians would need no god father to access government services and support.

Coker-Odusote said the digital cards which come with various security features cannot be forged as the biometric information of owners are embedded in them, emphasising that they were made to address current needs of government to ensure that there are no ghost beneficiaries of government palliatives, loans and other benefits.

She maintained that the cards would turn around the economy by improving revenue generation and the country’s GDP as states governments and the private sectors would be part and parcel of it.

Speaking on behalf of other stakeholders, Momoh of AfriGO, said the launch of the cards would change the narratives for the country’s economy as it would ensure that the flow of money remained within the economy.

Momoh said: “The digital card is a domestic solution to drive financial inclusion and provide cost effectiveness and transparency within the systems. It would ensure data sovereignty and autonomy, and we all know that data is significant to improve our economy.

“This card will help reduce cost, especially dollar given to banks. Domestic payments are important to support welfare and social interventions services of government, so it will help drive cashless policy and ensure that our monies remain within the economy.

“We have about 26 banks already issuing the cards and it is hoped that more would come on board. Nigeria is the first country to come up with this innovation, and surely it would enhance micro-medium enterprises across the country.”