Isa Pantami, the Honourable Minister of Communications and Digital Economy, announced that the The Federal Government has directed Nigerian banks and other financial institutions to issue new debit cards to customers with National Identification Numbers (NIN). The new card will withdraw money from Automatic Teller Machines and serve as a national identity card for Nigerians in a press briefing at the valedictory Federal Executive Council (FEC) meeting presided over by President Buhari in Abuja.
The Minister stressed that Nigerians can now request their banks to provide them with the new debit card for free, as reported by the Punch. That It is different from the N1,000 charges for a new bank card request.
As he further explained that He also explained that the decision came in response to a memo from the National Identity Management Commission (NIMC) authorising banks to print multipurpose debit cards that can function as national identity cards. He however added that Nigerians staying in the rural parts of the country in particular regularly visits NIMC offices to express their need for a physical card, all-though it is optional
He Explains:
“To address this issue and provide convenience to citizens, NIMC introduced a smart ID card last year, which can be downloaded through the NIMC app. However, this digital solution poses challenges for people in rural areas. To alleviate these difficulties, NIMC has partnered with the Central Bank of Nigeria (CBN) to allow interested citizens to obtain a physical card from their respective banks.” With the new directives banks will now be authorised to print the card with either a Master card or Visa card, The multipurpose card will serve as both a national identity card and a bank card, eliminating the need for separate cards. Importantly, citizens will not incur any additional costs when applying for this new card
The Minister also disclosed that to protect the privacy and confidentiality of card applicants, NIMC and CBN have signed a nondisclosure agreement. He noted that the agreement ensures that personal information remains secure throughout the process of card issuance.
He said:
“Banks will apply online to NIMC, cross-checking their database with the NIMC database to verify the applicant’s information. Once confirmed, the card will be printed immediately.”
In an an early report, it was stated that that the (CBN), in partnership with Nigeria Inter-bank Settlement System (NIBBS), would launch the card this January as the the Central Bank of Nigeria officially deployed the National Domestic Card on Monday, January 16, 2023, which is meant to serve as both a credit card and debit card, among other functions is expected to compete with top finance industry players like Master card, Discovery, and Visa