• About
  • Advertise
  • Careers
  • Contact Us
Sunday, June 22, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Finance

CBN, NIBSS Unveil Afrigo Card; Nigerian National Domestic Card Scheme

by Peter Oluka
January 26, 2023
in Finance
0
CBN and NIBSS introduce AfriGo Card by AfriGoPay
CBN and NIBSS introduce AfriGo Card by AfriGoPay

CBN and NIBSS introduce AfriGo Card by AfriGoPay

UBA
Advertisements

The Central Bank of Nigeria today officially unveiled the Nigerian National Domestic Card Scheme – AFRIGO, in conjunction with the Nigeria Inter-Bank Settlement Systems (NIBSS) Plc, the Bankers Committee, and other financial ecosystem stakeholders.

Afrigo card is operated by AfrigoPay Financial Services Limited (AFSL), a national domestic card scheme duly licensed by the Central Bank of Nigeria.

The Nigerian National Domestic Card Scheme is a robust in-country scheme tailored to address the specific requirements of Nigeria’s payment industry and provide innovative offerings to empower Africa’s payment ecosystem.

With the implementation of this scheme, the industry will reap benefits which include improved transaction security, data sovereignty, better pricing opportunities, interchange fee reduction, reduced demand for FX and less pressure on the Naira whilst developing local skills in the card and payment space. Other advantages include a boost to financial inclusion, value retention, flexibility not to mention it is  a source of national pride.

Speaking during the event, Mr. Godwin Emefiele, the Governor of the Central Bank of Nigeria, expressed the central bank’s commitment to ensuring a secure national payment system in Nigeria.

GodWin Emefiele, CBN Governor - PoS Agents
Advertisements
MTN ADS
Godwin Emefiele, Governor of the Central Bank of Nigeria

He stated ‘Millions of Nigerians are still unable to make use of payment cards to consummate transactions. We can no longer neglect the vast majority of Nigerians whose daily payment needs are micro payments. We need to capture them in national statistics, to further understand their transaction dynamics and properly target interventions.’ Indeed, Afrigo presents an opportunity to integrate the informal segments of our economy and bring more Nigerians into the formal financial services system.

Mrs. Aishah Ahmad, the Deputy Governor, Financial Systems Stability, Central Bank of Nigeria & Chairman, NIBSS PLC,  enthused ‘Today is a strategic turning point for payments in Nigeria and a source of deep national pride. Afrigo is Africa’s most promising domestic card scheme given the rapid growth of electronic payments in Nigeria, the continent’s most populous nation. It is a monumental development for several reasons, not in the least is the fact that it gives us sovereignty over our data, saves cost for the industry, and presents a new vista of opportunities for the card business”.

AfriGo - Aishah Ahmad, Deputy Governor of the CBN
| Deputy Governor, Financial Systems Stability, Central Bank of Nigeria & Chairman, NIBSS PLC,

In her presentation, she further detailed the rationale behind the name Afrigo – which represents the continents ethnic diversity combined with progress, empowerment and inclusiveness laced with our predominant Nigerian green.

Furthermore, Premier Oiwoh, the MD of NIBSS, highlighted the key benefits of the scheme to Nigerians. According to him, “one of the major values of the scheme is the reduced operating cost as well as other benefits such as a secured platform, loyalty scheme, credit cards, and virtual cards amongst others”.

NIBSS MD, Premier Oiwoh at IFIC’22
Premier Oiwoh,  Managing Director/CEO of NIBSS

The launch of the Nigeria National Domestic Scheme will present a new payment era in the Nigerian payment ecosystem and unveils the unique opportunities presented by the Nigerian financial industry.

Loading

Author

  • Peter Oluka
    Peter Oluka

    Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

    View all posts
0Shares
Tags: AfriGo CardAfrigoPayAFSLCBNNIBSSPremier Oiwoh
Peter Oluka

Peter Oluka

Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

Next Post
Classera - TD partnership

After $40m Series A Raise Classera partners with TD Africa to Deepen Footprints across Africa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Ibrahim Olayokun - microservices architecture

Microservices Architecture and Event-Driven Systems: Building Scalable, Loosely-Coupled Systems

1 year ago
Bolt for Corporate and SME

BOLT: Survey Reveals Commuting’s Deep Impact on Daily Life, Mental Health

1 month ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.