The National Identity Management Commission (NIMC) has announced that the new National Identification Number (NIN) card will serve as a multi-purpose tool for identification and financial transactions.

This development was disclosed during a recent interview on Channels TV with Kayode Adegoke, Head of Corporate Communications, and Peter Iwegbu, Director of Card Management Services at NIMC.

Iwegbu elaborated on the card’s financial functionality, highlighting that it enables users to conduct transactions such as ATM withdrawals, online payments, and money transfers.

“The card serves as a payment card, apart from being an identification card,” he said. He explained that its chip integrates seamlessly with Nigeria’s banking system, allowing users to withdraw money or transfer funds regardless of their bank.

Adegoke added that banks would issue the card to streamline the process.

“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. Banks, alongside an online portal, will handle applications, ensuring accessibility for all Nigerians.

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.”

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.

Unlike the previous process, where individuals had to pick up their cards from NIMC offices, the officials noted that the new system will allow Nigerians to apply for and collect their cards at designated bank branches.

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.”

While NIMC is still in the final stages of testing the card’s security features, rollout is expected in the coming months. 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 stated.