National Identity Management Commission (NIMC) has said that the new National Identification Number (NIN) card can be used by Nigerians for financial transactions including payments and cash withdrawals, in addition to being used as a means of identification.
Kayode Adegoke, head of Corporate Communications, and Peter Iwegbu, director of Card Management Services, of NIMC, disclosed this during an interview on Channels TV.
Speaking on the card’s multi-functional use, Iwegbu said it will enable users to conduct transactions such as ATM withdrawals, online payments, and money transfers, adding that its chip integrates seamlessly with Nigeria’s banking system, allowing users to withdraw money or transfer funds regardless of the bank they use.
For his part, Adegoke pointed out that to streamline the process, banks would issue the cards.
“The way the card is going to be issued this time around, quite unlike the past, is that you have to get it through your respective bank,” he noted.
Adegoke further explained that while the NIN remains the core element of identity verification in Nigeria, the linked card offers extensive utility.
“The NIN is free, and we are enlightening Nigerians that whenever they go to any of our centres, the enrollment and issuance of the NIN are entirely free.”
Read Also: NIMC Reaffirms September 14 Deadline for NIN-SIM Linkage
According to the officials, NIMC is partnering with various stakeholders, including the Central Bank of Nigeria (CBN) and the Nigerian Interbank Settlement System (NIBSS), to implement the card’s financial features.
This initiative is expected to provide value to banks while including previously underserved Nigerians in financial systems.
“We are bringing to them almost over 100 million possible customers who they can bank with,” Iwegbu stated.
In addition to its financial utility, the NIN card has been designed to enhance security and identification in remote areas.
“It also enables us to financially include some of these people who have been excluded and provide identification for those without means like an international passport,” Iwegbu added.
According to Adegoke, “You can decide the bank you want, the branch you want to pick it from, or even choose to have it delivered to your doorstep.”
Iwegbu assured Nigerians that the initiative is designed to address past challenges, including distribution and acceptance issues.
“The card will solve problems of financial and social exclusion, making life easier and smarter for Nigerians,” he added.
Read Also: NCC Sets Final Deadline for NIN-SIM Linkage on September 14
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