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Nigerian National e-ID Card Bags Award for Financial Inclusion

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L-r: Kenny Teller, MasterCard, Mrs Onadeko, NIMC, Mrs Ejiofor, NIMC and Taiwo Adebayo MasterCard at the CBN Card Expo 2015 Awards Ceremony where the Nigerian National e-ID Card was awarded Best Financial Inclusion Product.  The pilot program, launched in 2014, was recognised for effectively expanding financial inclusion and advanced Nigeria’s cashless policy.
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Nigerian National Electronic Identity (e-ID) card, powered by MasterCard, has been named “the Best Financial Inclusion Product” at this year’s Central Bank of Nigeria’s (CBN) Card, ATM and Mobile Expo Awards, held in Lagos last week.

 Supported by Nigeria Inter-Bank Settlement System and CBN, the award recognises the payment product that has effectively expanded financial inclusion and advanced Nigeria’s cashless policy.

The National e-ID card with MasterCard’s prepaid payments functionality is currently being issued by the Nigerian Identity Management Commission (NIMC) to 13 million Nigerians 16 years and older as part of a pilot program launched in August 2014. 

Upon completion of the pilot program, NIMC plans to introduce more than 100 million cards to Nigeria’s 170 million citizens, making this the largest  rollout of a an electronic payment solution in the country and the broadest financial inclusion program in Africa.

“We are extremely honoured to receive this prestigious award, which recognises the strides we are making in providing a convenient, safe, and cost effective electronic payments product to Nigerians – 64 percent of whom do not have a bank account,” said Barr. Chris ‘E Onyemenam, director general and CEO of NIMC.

“Combining an identity card with MasterCard’s prepaid payment capability creates a game changer as it breaks down the most significant barrier to financial inclusion – proof of identity – while simultaneously enabling Nigerians to access state-of-the-art financial services.”

Using the e-ID as a payments tool, cardholders can deposit funds, save, withdraw cash at ATMs, and pay for goods and services at any of the millions of MasterCard acceptance locations globally or via online shopping portals.

The card also enables citizens to receive funds electronically including government subsidies, social grants, salaries and other disbursements, rather than physically transporting themselves to receive the cash, which is costly, unsafe and inconvenient.

“Too many people lack access to the most basic financial services, leaving them trapped in a cash economy that imposes greater risks and costs on those least able to afford them,” said Omokehinde Ojomuyide, vice president and area business head for West Africa, MasterCard.

“Through the e-ID program, we are creating an avenue to help citizens better manage their finances, and participate in the mainstream economy.”

Ojomuyide said that the broader economic impact of the card will be felt as the previously unbanked build a financial history, which enables them to secure loans from financial institutions.

Small Medium Enterprises will be able to access the financing they need to grow their businesses, in turn creating jobs and sharing in the opportunities for economic growth enjoyed by wealthier segments of the population.

The card’s electronic payments capability also enables the Government to minimize fraud and corruption, reduce leakages and generate significant savings, as it digitizes cash payments and formalizes the shadow economy.

The announcement signals the second accolade awarded to the NIMC in as many months, with the Smart Card and Payments Awards (Middle East) 2015 naming the National e-ID card as “The Best Payment Initiative in Africa” in May 2015.

“We are proud to be associated this program, which has already received recognition globally, and congratulate NIMC on this notable achievement,” said Ojomuyide.

“Making financial inclusion a reality is central to our business and we look forward to working with NIMC and our other partners to achieve our vision of a cashless, more inclusive, Nigeria.”


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E-Business

NITDA DG Reaffirms FG Commitment to Responsible and Inclusive AI

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The Federal Government of Nigeria has reaffirmed its commitment to building a responsible, inclusive, and sovereign artificial intelligence ecosystem to enable Nigeria to transition from being a passive consumer of AI technologies to an architect and builder of indigenous AI systems.

This was said by the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi CCIE, while delivering a virtual address at the InnovateAI Conference held in Lagos.

The conference brought together policymakers, technology leaders, innovators, and stakeholders to discuss the future of artificial intelligence and its role in driving Nigeria’s digital economy and national development agenda.

Inuwa outlined Nigeria’s ambition to transition from being a consumer of artificial intelligence technologies to becoming a builder and owner of AI systems that reflect national values and priorities, in line with the National AI Strategy.

“Our goal is not just to use AI, but to architect and build our own AI systems in Nigeria,” he said, stressing that the country must take ownership of its AI future.

He noted that Nigeria’s approach to artificial intelligence extends beyond innovation to include governance, infrastructure, data sovereignty, and policy evolution.

According to him, “Responsible AI is never a finished job; it is an iterative journey. Our policies must evolve as the technology evolves, and we must avoid frozen laws by adopting living policies that adapt over time.”

He cited the implementation of the Digital Economy and E-Governance Bill as a key mechanism for generating insights that will help refine AI regulations and governance frameworks.

Inuwa also highlighted the challenge of data representation in global AI systems, noting that most models are trained on non-African datasets, which often results in bias against local dialects, cultures, and demographics.

“If a model shows bias against a local dialect or demographic, we cannot just patch it. We must reinvest in infrastructure to retrain it with inclusive and representative local datasets,” he stated.

He added that building national AI infrastructure is critical to achieving data sovereignty and ensuring that Nigeria is not merely an end user of foreign AI systems.

He further called for strategic partnerships with global technology companies and hyperscalers to build AI infrastructure in Nigeria while aligning with local values and national priorities.

“The world today is a global village. We need to work with global players, but they must understand our local nuances and help us build the infrastructure to retrain and develop AI models that reflect our context,” he said.

The NITDA Director General explained that adopting a comprehensive AI lifecycle approach, from responsible data collection and governance to deployment and continuous feedback, will enable Nigeria to move from reacting to AI developments to proactively designing indigenous AI systems.

“Without understanding how AI models are trained, how decisions are made, and how models are retrained, it will be difficult to build a responsible and trustworthy AI system,” he warned.

He reaffirmed that the Federal Government is intentional about promoting responsible AI and is working closely with the technology ecosystem to co-design national AI guardrails. He described platforms such as the InnovateAI Conference and other national AI dialogues as critical to shaping Nigeria’s AI future.


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Mutual Benefits Assurance Settles ₦5.9bn Claims in January 2026

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Mutual Benefits Assurance, a leading Nigerian insurance company, has paid a total of ₦5,937,665,353.57 in claims to policyholders in January 2026 alone, underlining its strong financial capacity and unwavering commitment to prompt claims settlement.

Mutual Benefits Assurance Settles ₦5.9bn Claims in January 2026

Mutual Benefits Assurance

A breakdown of the figures shows that ₦3,426,602,834.28 was paid under its General (Non-Life) Insurance portfolio, while ₦2,511,062,519.29 was paid across its Life businesses, including Group Life and Retail Life policies.

The significant payout within a single month reinforces Mutual Benefits’ reputation as a dependable insurer that honors its obligations swiftly and responsibly.

Commenting on the development, Olufemi Asenuga, Managing Director, Mutual Benefits Assurance Plc stated that claims settlement remains the core promise of insurance and the ultimate test of an insurer’s credibility.

“Insurance is built on trust. Our ability to settle over ₦5.9 billion in claims in one month demonstrates not only our financial strength, but also our deep commitment to our policyholders. At Mutual Benefits, we do not just sell policies. We stand by our promises,” he said.

With over three decades of operations, Mutual Benefits has consistently positioned itself as a strong and well-capitalised insurer.

The company operates both Life and General Insurance businesses and remains fully compliant with regulatory capital requirements as stipulated by the National Insurance Commission (NAICOM).

The January payout reflects Mutual Benefit’s robust underwriting standards, prudent risk management practices and efficient claims administration framework.

It also aligns with the company’s broader record of substantial claims settlement in recent years, reinforcing its standing as a trusted brand in the Nigerian insurance industry.

Mutual Benefits employs over 5,000 staff, managed by seasoned management team and an experienced Board of Directors. Industry observers note that prompt claims payment remains one of the most critical differentiators in Nigeria’s competitive insurance landscape.

By consistently settling valid claims without delay, Mutual Benefits continues to strengthen customer confidence, deepen market trust and expand its footprint across retail and corporate segments.

As the company begins 2026 on a strong footing, it reiterates its commitment to innovation, service excellence and delivering value to policyholders and stakeholders alike. Mutual Benefits Assurance focused on its mission to provide reliable risk protection solutions while maintaining the highest standards of professionalism and integrity.


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NITDA Warns Nigerians of Actively Exploited Microsoft Office Vulnerability

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National Information Technology Development Agency (NITDA) has issued an urgent cybersecurity warning about a serious Microsoft Office vulnerability (CVE-2026-21509) that attackers are actively exploiting.

NITDA Warns Nigerians of Actively Exploited Microsoft Office Vulnerability

This advisory, shared through Nigeria’s Computer Emergency Response Team (CERRT.NG), highlights the risks of this flaw and recommends immediate action to protect systems.

Microsoft has released quick security updates to fix this vulnerability, which has a severity score of 7.8, showing it is a serious risk. Attackers have already used it in targeted attacks.

CVE-2026-21509 affects multiple versions of Microsoft Office, including Office 2016, Office 2019, Microsoft 365 Apps, Office 2021, and later versions.

This flaw allows attackers to bypass security features meant to stop harmful Object Linking and Embedding (OLE) controls. OLE is an older Microsoft technology that can be used to embed links or content, but it has often been exploited by malware.

By exploiting this flaw, attackers can create specially designed Office documents.

When a user opens these documents, they can run malicious code or gain further access to the system.

Exploitation requires user interaction, meaning attackers often trick people into opening harmful Word, Excel, or other Office documents. Common methods include using email attachments or files from untrusted sources.

Because Microsoft confirmed that the vulnerability is being actively exploited, they have made emergency security updates available outside their usual schedule. Users and organisations should:

  1. Install the latest Microsoft Office security updates for all affected versions.
  2. Restart Office applications for Office 2021 and later to ensure that the updates take effect.
  3. Use registry-based settings for protection if updates can’t be applied right away.
  4. Follow good cybersecurity practices, like using endpoint protection and filtering emails.

Microsoft’s updates for Office 2021 and newer versions are automatically applied, but need a restart of the applications to be active.


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