AfriGO: Nigeria’s Domestic Payment Card Hits N70 Billion Transaction Milestone in 2025
Nigeria’s homegrown payment card system, AfriGO, has achieved a significant milestone by processing transactions worth over N70 billion in 2025, marking a major success for the country’s digital payment infrastructure. This achievement was announced by Premier Oiwoh, Managing Director and CEO of the Nigeria Inter-Bank Settlement System Plc (NIBSS).
Launched in 2023 through a collaborative effort between the Central Bank of Nigeria (CBN) and NIBSS, AfriGO has distinguished itself as the world’s only payment card offering instant settlement to merchants for point-of-sale (POS) transactions. The platform has already issued over one million cards across the nation, supporting ATM withdrawals and both online and offline payments.
A key feature of AfriGO is its domestic processing capability, ensuring all transaction data remains within Nigeria’s borders, thereby enhancing data sovereignty and security. The system is set to integrate with the National Identity Management Commission’s (NIMC) new national ID card program, transforming identification documents into multifunctional payment tools with biometric security features.
To expand its reach, AfriGO has formed strategic partnerships with leading fintech companies including Moniepoint, Palmpay, OPay, and Flutterwave. Notably, Moniepoint and Palmpay have committed to distributing 10 million AfriGO cards and implementing contactless payment technology.
Moniepoint CEO Tosin Eniolorunda emphasized AfriGO’s role in advancing financial inclusion, particularly targeting Nigeria’s unbanked population. The initiative aligns with the government’s objective to bring 20% of unbanked Nigerians into the formal financial system.
In the competitive $22 billion Nigerian card market, AfriGO is positioning itself against established international players like Visa, Mastercard, and Verve. The platform’s integration with Nigeria’s digital currency, the e-Naira, provides additional functionality for digital currency transactions while supporting the CBN’s monetary control objectives.
The government’s planned elimination of transfer fees on the NIBSS Instant Payment platform further demonstrates its commitment to promoting digital payments and reducing cash dependency. NIBSS continues to prioritize security measures against fraud and cyber threats while ensuring system reliability.
AfriGO’s success represents a significant advancement in Nigeria’s journey toward a more inclusive and digitized financial ecosystem, backed by government support and innovative fintech partnerships. The platform’s growth indicates increasing adoption of digital payment solutions across the Nigerian economy.
