The National Identity Management Commission (NIMC) has unveiled an upgraded version of the National Identification Number (NIN) card, designed to serve as both an identification tool and a payment card for financial transactions. This new initiative, aimed at enhancing financial inclusion and simplifying identification processes, was discussed in a recent interview with NIMC officials Kayode Adegoke and Peter Iwegbu on Channels TV.
Iwegbu, Director of Card Management Services at NIMC, explained that the new card will not only function as a national ID but will also allow users to perform various financial activities. These include ATM withdrawals, online payments, and money transfers across any bank in the country. The card’s chip integrates seamlessly with Nigeria’s banking system, making it a versatile tool for financial transactions.
“The card serves as a payment card, apart from being an identification card,” Iwegbu said, emphasizing the card’s ability to work across all Nigerian banks.
Adegoke, Head of Corporate Communications at NIMC, further clarified that the issuance process would be streamlined through banks. Unlike previous methods, individuals will now obtain the card through their banks, which will handle applications both in-branch and via an online portal, ensuring easy access for Nigerians across the country.
He also reassured the public that obtaining a National Identification Number (NIN) remains free of charge, as part of the ongoing push to improve national identification systems. “The NIN is free, and Nigerians are encouraged to visit our centres for enrollment and issuance,” Adegoke stated.
The NIMC has partnered with key stakeholders, including the Central Bank of Nigeria (CBN) and the Nigerian Interbank Settlement System (NIBSS), to implement the card’s financial capabilities, which is expected to benefit banks by expanding their customer base. According to Iwegbu, this initiative could potentially bring over 100 million unbanked Nigerians into the formal financial system.
In addition to its financial and identification functions, the NIN card is also designed to provide enhanced security, especially for individuals in remote areas who may lack access to traditional identification documents like passports.
Iwegbu highlighted the card’s role in financial inclusion: “It enables us to include people who have been previously excluded from the financial system, providing them with both identification and access to financial services.”
A major improvement of the new system is the ability for Nigerians to collect their cards at designated bank branches or have them delivered to their doorstep, providing greater convenience.
While NIMC is in the final stages of testing the card’s security features, the full rollout is expected in the coming months. The initiative aims to address past distribution and acceptance challenges, with NIMC officials confident that the card will drive greater financial and social inclusion in Nigeria.
“The card will solve problems of financial and social exclusion, making life easier and smarter for Nigerians,” Iwegbu concluded.