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Home » NIMC Cautions Nigerians Against Selling Personal Data Amid Reports of Fintechs Buying NIN for as Low as N1,500

NIMC Cautions Nigerians Against Selling Personal Data Amid Reports of Fintechs Buying NIN for as Low as N1,500

Destiny Eseaga by Destiny Eseaga
July 28, 2025
in Security & Data Protection
Reading Time: 2 mins read
0
NIMC, personal data and digital tokens

NIMC | NIN

In a quiet neighbourhood in Nigeria, a young man walked up to a stranger with a tempting offer, ₦2,000 in exchange for their National Identification Number (NIN) and other personal details.

It sounded harmless, even helpful, especially in these tough economic times. But behind that offer lies a much darker reality.

The National Identity Management Commission (NIMC) is deeply concerned about a disturbing trend recently highlighted by the Economic and Financial Crimes Commission (EFCC): a growing number of Nigerians, especially the youth, are being enticed into selling their personal data for as little as ₦1,500 to ₦2,000.

These details are then resold to certain fintech platforms for as much as ₦5,000, fueling an underground economy that puts every NIN holder at risk.

“This is not just a case of minor fraud, it’s a threat to national security and personal safety,” said Dr. Kayode Adegoke, head of Corporate Communications at NIMC. “When you hand over your data to unknown agents, you are essentially handing over control of your identity.”

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The Commission wishes to make one thing unequivocally clear: NIMC will not be held liable for any misuse of personal data shared willingly by individuals or through third parties for money or inducement.

The public has been repeatedly warned not to disclose their NIN or related information to anyone not officially authorised.

Moreover, NIMC reminds all service providers that every NIN presented for services must be properly verified using the appropriate channels before access is granted.

To protect yourself and your identity, Nigerians are strongly encouraged to download the NINAuth App, available on both Apple iOS and Google Play Store.

This tool empowers you to manage, secure, and control access to your personal NIN data, anytime, anywhere.

The story of your identity should be written by you, not sold for a quick payout.

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Destiny Eseaga

Destiny Eseaga

My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

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