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Nigeria’s first domestic payment card, AfriGO, has recorded over N70 billion in transactions in 2025, underscoring its rapid adoption nationwide and growing role in the country’s digital payment ecosystem.
The milestone was announced by Premier Oiwoh, Managing Director and Chief Executive Officer of the Nigeria Inter-Bank Settlement System (NIBSS), who highlighted AfriGO’s unique value proposition — being the only card globally that guarantees merchants instant payment for every transaction made via point-of-sale (POS) terminals.
Launched in 2023 through a collaboration between the Central Bank of Nigeria (CBN) and NIBSS, AfriGO was created to enhance payment efficiency, localise transaction processing, and strengthen data sovereignty. Since its rollout, over one million cards have been issued, supporting seamless cash withdrawals, online and offline payments, and improved access to financial services.
Oiwoh described AfriGO’s progress as a “transformational success,” noting that its instant settlement feature is reshaping how merchants and consumers interact in the Nigerian payment landscape. “The growth of AfriGO demonstrates the success of a locally built innovation designed to empower Nigerians and promote financial inclusion,” he said.
A key advantage of AfriGO lies in its local transaction processing, which ensures that all data and payments remain within Nigeria’s borders—boosting security, reducing dependence on international networks, and supporting regulatory oversight.
In a significant development, AfriGO is set to be integrated into the new national ID card initiative by the National Identity Management Commission (NIMC). The upcoming multi-purpose ID card will combine identification, payment, and access functions, featuring biometric verification and enabling holders to access financial, social, and travel services across ECOWAS countries.
To accelerate adoption, AfriGO has entered strategic partnerships with major fintech operators, including Moniepoint, PalmPay, OPay, and Flutterwave. These collaborations aim to distribute millions of AfriGO cards, introduce tap-to-pay technology, and extend digital payment services to underserved communities.
Tosin Eniolorunda, CEO of Moniepoint, commended the initiative, describing AfriGO as “a powerful tool for inclusion” that aligns with the government’s target of onboarding 20% of Nigeria’s unbanked population into the formal financial system.
AfriGO’s rise positions it as a strong local competitor to global brands such as Visa, Mastercard, and Verve in Nigeria’s $22 billion card market. Its instant settlement, local infrastructure, and integration with Nigeria’s digital currency, the eNaira, give it a distinctive edge in supporting national payment objectives.
The Central Bank of Nigeria is also working with NIBSS to eliminate transfer fees on the NIBSS Instant Payment (NIP) platform — a move expected to reduce transaction costs, promote cashless payments, and expand digital adoption nationwide.
With Nigeria’s total digital payment value projected to keep rising, NIBSS views AfriGO as a cornerstone of a secure, inclusive, and self-sustaining financial ecosystem. The initiative supports broader national goals of reducing cash dependence, curbing fraud and cyber risks, and empowering millions through digital access.
In summary, AfriGO’s N70 billion transaction milestone signals more than just growth — it represents a shift toward sovereignty, security, and inclusivity in Nigeria’s financial sector. Through strategic partnerships and government backing, AfriGO continues to advance digital transformation and strengthen the foundation of Nigeria’s evolving cashless economy.
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