E-Financial
SecureID Commissions First Polycarbonate eID, EMV Certified Plant in Africa
SecureID Limited, an industry leader in smart card supply and personalization business, has announced the launch of its new and first polycarbonate plant in Africa called SecureCard Manufacturing.
This ultra modern plant focuses on the polycarbonate card body production and high security designs which confirms a successful fulfillment of another milestone in the backward integration of smartcard manufacturing process.
SecureID built its first personalisation plant in 2006 using advanced technology equipment to personalize imported smartcards for various purposes across different sector of the economy. In 2008, SecureID took the lead to backward integrate into “Milling and embedding”; a core aspect of personalization.
Milling and embedding is the process of milling a cavity into a card body and embedding a chip module unto the plastic. We refer to this as “Sub-assembly”.
SecureCard Manufacturing Plant is the first polycarbonate smartcard manufacturing plant in Africa capable of producing large supplies of cards to the tone of 200 million cards per year in line with global standards.
This great achievement brings to birth another level of backward integration in card manufacturing process which distinguishes SecureCard Manufacturing from being a Perso bureau.
Perso bureaus create uniqueness by graphical and chip personalization while full end-to-end manufacturers such as SecureCard actually manufacture the card.
It is important to note that Perso bureaus cannot manufacture smartcards rather they specialize in personalizing manufactured smartcards.
The completion of the new EMV certified plant allows SecureID to significantly manufacture polycarbonate ID cards (ranging from national IDs, payment cards, SIM cards) of any specifications and standards from around the world, locally.
The plant has been tested by foreign test labs and certified by MasterCard, Visa and Verve for all kinds of smartcards production. It is equipped with ultra modern facilities and employs ” Special Security Design ” software to design unlimited security features that can be used for any ID documents including currency note.
“I really appreciate SecureID for the decision to work with us for the supply of world class manufacturing equipment and related services. This plant is equipped with the state of the art machines and ready to operate with most advanced technology and manufacturing processes capable of delivering high security level requirements. I can confidently say that this polycarbonate plant is a remarkable achievement in Africa despite the complexity of setting up,” said Charles Mevaa, Vice President Government Program, Gemalto.
This great effort in delivering a world class plant will in no doubt contribute to the growth and development of the nation’s economy in various ways such as job creation, technology transfer as well as skilled manpower, capacity development and reduction in capital flight in line with the Nigeria Industrial Revolution Plan (NIRP) launched by the President, Federal Republic of Nigeria, Dr. Goodluck Ebele Jonathan in 2012.
This further opens up opportunities for entrepreneurship as approximately 75% of raw material used for the manufacturing of smartcards are made from petrochemical products that can be sourced locally in the next three to four years if supported by the Federal Government.
It also reduces the strain on foreign exchange as clients will be more competitively positioned because of the proximate benefits.
One important benefit of producing smartcards locally is the security of Nigeria’s citizens data and infrastructure, offering the benefit to create and own all the technology on our smartcards without dependence on control from outside the country.
Other countries like India have already adopted the same and this was effective from October 2014 “all the applications that reside on their chip modules must be loaded from inside the country”
Kuda Microfinance Bank has unveiled the 2025 edition of “My Year on Kuda,” its annual recap providing customers with personalised insights into their spending, saving, and money management habits from the previous year.
Kuda Microfinance Bank
The tool analyses transaction data across categories like transfers, card payments, online purchases, and bills, revealing patterns such as highest-spending months, biggest payments, saving frequency, and savings from Kuda’s 25 free monthly transfers. Customers can compare 2025 activity against 2024, including income versus expenditure.
In an era of inflation and economic uncertainty, the recap promotes financial literacy by highlighting responsible borrowing via Kuda Overdraft usage, including access frequency, amounts borrowed, and repayment patterns.
Customer-shared screenshots on X reflect national trends: Nigeria recorded over 2.2 billion electronic transactions worth ₦285 trillion in Q1 2025, up 20 percent year-on-year, with POS terminals driving the shift to cashless commerce.
Kuda Group CEO Babs Ogundeyi, in the recap’s opening video, urged users: “Before you carry on with January, this is the perfect time to see everything you did with your money on Kuda last year and learn something.”
The feature underscores Kuda’s focus on actionable insights to help Nigerians navigate evolving personal finance amid shifting earning and spending behaviours.
Wema Bank has introduced SAW, a new AI voice assistant integrated into the ALAT 2.0 app, allowing customers to manage finances through natural voice commands similar to Siri, Bixby, or Alexa.
Wema Bank
SAW understands everyday language and delivers instant responses tailored to banking needs, such as checking account balances, transferring money, reviewing transactions, and accessing support.
This feature brings conversational banking to Nigerian users, eliminating complexity and enhancing accessibility.
The bank positions SAW as a pioneer in AI-powered financial services, aligning with global trends where millions interact daily with voice assistants for tasks like setting reminders or playing music.
ALAT 2.0 represents the next evolution in digital banking, making services more efficient, personal, and human-like for everyday Nigerians.
Ecobank Nigeria Limited has fully repaid bondholders who validly tendered their notes ahead of the February 2026 maturity date.
The bank announced the successful completion of its tender offer, under which it prepaid approximately $245 million of its $300 million Eurobond, representing more than 80 per cent of the total issuance.
According to a statement, the transaction relates to the 7.125 per cent Senior Note Participation Notes due February 2026.
Ecobank Nigeria Limited said it launched a tender offer to eligible noteholders in respect of the outstanding $150 million on the bond on November 27, 2025, providing them with an opportunity to redeem their holdings ahead of the original maturity date of 16 February 2026.
It stated that the early and late tender participation deadlines were 11 December 2025 and 29 December 2025, respectively.
According to the bank, holders of notes validly tendered and accepted received a cash consideration of $1,000 per $1,000 in principal amount, in addition to accrued interest from the last interest payment date up to, but excluding, the final settlement date of 31 December 2025.
Following completion of the offer, the bank said the outstanding principal amount of the notes has been reduced to approximately $55.092 million.
The bank also stated that the initiative reflects Ecobank Nigeria’s proactive approach to liability management and prudent balance sheet optimisation.
The tender offer was conducted with Renaissance Capital Africa (Renaissance Securities Nigeria Limited) acting as financial adviser and dealer manager, while Sodali & Co Limited served as tender agent.
The notes were originally issued by EBN Finance Company B.V., with limited recourse to the issuer, for the sole purpose of financing the purchase of the $300 million 7.125 per cent Senior Note due 2026 issued by Ecobank Nigeria Limited.
PalmPay Deepens Its Long-Term Commitment in Nigeria with New Office @ Yaba
Kaspersky Shares AI Cybersecurity Predictions for 2026
Youth Talent Takes Center Stage as T2 Ignites High-Octane Rap Battles @ Carnival Calabar
Konga launches Jara sales with 25% discount on Starlink kits, free delivery
Kuda Microfinance Bank Releases ‘My Year on Kuda’ 2025 Financial Recap
Banks quietly move to enforce new ₦50 transfer levy from Jan. 1
FIRS says NIN, CAC Numbers to Serve as Tax IDs from 2026
Financial Sector Faced AI, Blockchain and Organised Crime Threats in 2025 – Report
PalmPay Launches N400 Million World Travel Carnival, Rewarding Users with Free Global Trips
Check Point Reveals Nigeria as Second Most Targeted African Country for Cyberattacks in November
News2 days agoCourt Sends Faleti, Ex-Lagos Director to Jail for Stealing ₦48.9m from Access Bank
E-Financial2 days agoRemita Powers over ₦100 Trillion in Payments as Nigeria’s Digital Economy Expands
E-Financial2 days agoWhy 2026 Must Be the Year Nigeria’s Economy Works for All
E-Financial2 days agoFlutterwave Acquires Nigeria’s Mono in $25m-$40m All-Stock Deal
E-Financial2 days ago2026: SEC to Review Rules to Incentivise SME Listings
General News2 days agoNigeria Targets Satellite-to-Mobile Services in Draft Spectrum Roadmap
Telecom2 days agoSamsung Plans to Double AI Mobile Devices to 800 million Units this Year
Telecom2 days agoMENXTT NG to pre-install Bitdefender Antivirus on all laptops from 2026