Connect with us

News

NIMC Says Cashless Initiative Requires Reliable Identity Management

Published

on

Dr. Chris Onyemenam, Director-General of the National Identity Management Commission (NIMC)
Kindly share this post

The National Identity Management Commission (NIMC) has highlighted the need for a reliable identity database and its adoption in the financial services sector to reduce fraud and improve Gross Domestic Products (GDP) among others.

Chris Onyemenam, director-general NIMC said “there must be a reliable Identity Management system in place for lasting success of the Central Bank of Nigeria’s Cash-less Policy.”

“The National Identity Management System (NIMS) is central to the success of a cashless economy project” he said, adding that “a Universal Identification Infrastructure (UIDI) is unique, secure, accessible and reliable, recommended for identity authentication (Identification/Verification) and tying individuals to transactions (non-repudiation and with a history) as the current methods rely on two-factor identity authentication are still challenged with effectively managing identities.”

“A secure UIDI is a precondition for financial inclusion. The NIMS will tie captured biometrics and unique National Identification Numbers (NIN) of Nigerians to bank accounts, voter registers, immigration, and law enforcement agencies among others” he said.

According to him, existing databases have not met international standards (ISO/IEC, NIST, IEEE, ICAO, etc) and they have been non-centralized, unreliable and incomplete. Also, regular updating have not been possible and there have not been centralized and irrefutable way of tying individuals to transactions until now.

He said this recommended move, if followed, will unleash in the nation, the opportunity in consumer credit experienced all around the world, reduce fraud, fight terrorism, improve GDP, and create a robust and dependable identifier. NIMS project is an essential transformation tool for fostering socio-economic development, maintenance of law and order and security of lives and properties.

He applauded the development of the Mobile Payment Services Sector (MPSS) which has achieved remarkable feats which includes the licensing of Mobile Payment Service Providers (MPSP) e.g. Pagatech, Fortis Mobile, UBA/Afripay, GTBank, eTranzact.

He said there is potential for the MPSS to play a huge role in the development of the Nigerian economy. “The Mobile Payment Service Providers (MPSP) creates employment and economic opportunities, it will stimulate consumer demand, local production and grow GDP but the need for a reliable identity management sector to drive the initiative is core” he said.

The enhancement of the efficacy of monetary policy operations and economic stabilization measures, balanced and genuine currency transaction demands a speculative market behaviour that will in turn facilitate better currency management and help in reducing cost of currency management.

Onyemenam said the congruence of plans and deployment of the NIMS project is inevitable and a complementary CBN policy is essential.

“Annual debt finance is less than 65 per cent of total loss due to identity-related fraud in banks. There is need for a deployment Strategy focused on update-able database and secure identity authentication” he said adding that the live pilot of the project commenced February 23, 2012 in FCT.


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

News

Anambra Cuts Monday Pay to Kill Sit-at-Home

Published

on

Kindly share this post

Anambra State will implement pro-rata salary payments for civil servants starting February 2026, targeting chronic Monday absenteeism from the long-running sit-at-home order, Information Commissioner Dr. Law Mefor announced Saturday.

Anambra Cuts Monday Pay to Kill Sit-at-Home

Soludo

Speaking at an Awka briefing after the Executive Council’s end-of-tenure retreat, Mefor said improved security and transport have eliminated excuses for the four-year disruption, which cost the state trillions in lost revenue. “Workers enjoyed full pay despite staying away; now, no work means no pay for that day, calculated over 24 working days,” he stated.

Compliance measures include mandatory Monday clock-in forms, with markets urged to reopen fully amid bolstered security. This builds on a January 22 executive order docking 20% pay from teachers absent on Mondays.

Mefor warned that lost Mondays cripple revenue collection and productivity, rejecting alternatives like Saturday shifts as capitulation to agitators.


Kindly share this post
Continue Reading

News

Stakeholders Demand Stronger Governance and Infrastructure to Drive Tech Adoption @ Lagos AI Summit

Published

on

Kindly share this post

As AI adoption accelerates across Nigeria, leaders at the “AI in Action Now” conference 2026 have called for a balance between rapid innovation and strict regulatory governance. The event, held at the Lagos Oriental Hotel, highlighted both the doggedness of Nigerian builders and the risks of unregulated data usage.

Dotun Adeoye, Co-Founder of AI Nigeria, raised alarms over “Shadow AI”, a trend where employees upload sensitive official documents to public AI platforms. He praised the Nigerian Data Protection Commission (NDPC) for its recent aggressive stance, including multi-million-dollar fines against major banks and social media brands.

“Innovation without governance is dangerous. The regulator now has the job of educating players. We are working in partnership with them to ensure players don’t just get fined, but actually understand how to protect data locally rather than storing it abroad, ” Adeoye noted.

Addressing issues of lack of infrastructure to carry AI adoption, Conference Convener Debola Ibiyode admitted that while Nigeria lacks the traditional foundation for AI adoption, the tech community cannot afford to wait.

“The simple answer is we don’t have the infrastructure, but Nigeria has never really had infrastructure to drive anything, and we still thrive, ” Iboyode said, encouraging students and builders to look beyond current limitations. “Once we start to build based on what we have now, it will encourage those who need to provide the infrastructure to do their part. The world will not wait for us,” she insisted.

To bridge this gap, she highlighted the AI Foundry Africa, an incubator designed to mentor ideas into market-ready products.

Meanwhile, speaking to journalists on the sidelines, Biodun Ogunleye, the Lagos State Commissioner of Energy and Mineral Resources, echoed the sentiment that the government’s role is to facilitate the right environment through partnership. He emphasized that data generated from interactions with the government must have long-term value.

“We must ensure that in all facets from production to interaction with government, the tools required to ensure data has value are appreciated,” Ogunleye stated.

He concluded that through private-sector collaboration, the government can focus on its primary functions while leveraging AI to ensure the nation aspires for the future.


Kindly share this post
Continue Reading

News

35 Million Nigerians Face Acute Hunger in 2026, UN Warns

Published

on

Kindly share this post

About 35 million Nigerians face acute hunger risks in 2026, including three million children battling severe malnutrition, the United Nations has warned, attributing the crisis to collapsing global aid budgets and escalating violence in the northeast.

35 Million Nigerians Face Acute Hunger in 2026, UN Warns

UN Resident and Humanitarian Coordinator Mohamed Malick Fall disclosed this on Thursday during the launch of the 2026 humanitarian plan in Abuja, noting that the traditional foreign-led aid model proves unsustainable amid Nigeria’s escalating needs.

He highlighted dire conditions in Borno, Adamawa and Yobe states, where over 4,000 people perished in the first eight months of 2025 from surging suicide bombings and attacks—equalling the entire previous year’s toll.

The UN now targets $516 million to deliver lifesaving aid to 2.5 million people this year, a sharp drop from 3.6 million in 2025 and half of prior levels, forcing prioritisation of only the most critical interventions.

Fall stressed, “These are not statistics. These numbers represent lives, futures and Nigerians,” as shortfalls last year compelled the World Food Programme to halt support for over 300,000 children after resources dried up in December.

Yet, Fall acknowledged Nigeria’s increasing national ownership, including local funding for lean-season food assistance and proactive flood early-warning systems, signalling a shift toward self-reliant crisis response.


Kindly share this post
Continue Reading

Trending