Secure identity system will deepens digital transactions in Nigeria –NIMC DG

Director General of the National Identity Management Commission (NIMC), Engr. Aliyu Aziz, says the nexus between e-identity, connectivity, and financial inclusion will be crucial to driving sustainable growth and development in the digital age.

Engr. Aziz disclosed this penultimate Thursday while delivering a speech at the 2023 CIO Club Africa Summit with the theme: Digital Economy and the Nexus between E-identity, Connectivity, and the Financial Inclusion.

According to him, at the heart of the nexus is the need for a reliable and secure identity system that can serve as the foundation for digital transactions and financial services.

“Nigeria’s efforts in this area are commendable, with the National Identity Management Commission (NIMC) working to provide every Nigerian with a unique National Identification Number (NIN) and a digital identity card. This will enable citizens to access a range of services, including financial services, securely and conveniently.

“The importance of connectivity in this digital age cannot be overemphasized. The digital economy relies on high-speed internet access and reliable connectivity to function effectively. Nigeria has made significant progress in expanding broadband access, with initiatives such as the National Broadband Plan and the licensing of new broadband providers.

“However, more needs to be done to ensure that all Nigerians have access to affordable and reliable connectivity, particularly those in rural areas.

Speaking further, Engr. Aziz stated that financial inclusion is another critical component of the digital economy, as it allows individuals and businesses to participate fully in the economy and access a range of financial services.

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“Nigeria has made impressive strides in this area, with initiatives such as the Bank Verification Number (BVN) system, mobile banking, and the cashless policy. These initiatives have helped to increase financial inclusion and reduce the number of unbanked individuals in the country.

“It has the potential to transform the lives of millions of Nigerians by providing them with access to essential services, promoting entrepreneurship and innovation, and driving economic growth.

“This is part of the reason why ICT has become the mainstay of the National economy with over 18 Percent contribution to the GDP in the second quarter of 2022 compared to the contribution of the oil sector which was 6. 33 per cent during the same period.

“At the National Identity Management Commission (NIMC) we have a rich tradition and experience in providing assured verification channels/systems to willing partners to accurately identify individuals seamlessly as empowered by the Law.

“This is evident in NIMC’s collaboration with organizations such as the Joint Admission Matriculation Board (JAMB), Nigerian Interbank Settlement System (NIBBS), Federal Inland Revenue Service (FIRS), Federal Road Safety Corp/Vehicle Inspection Unit Officials (FRSC/VIO), Nigeria Police Force (NPF), the Military Armed Forces, and so on, “he added.