MasterCard is oiling its machines in readiness for the
National Identity Number (NIN) pilot scheme for the National Identity
Management Commission (NIMC), an agency of the Federal Government of Nigeria.
DigitalSENSE
Business News recalls that MasterCard is the technology provider to the
project, which entails a pilot phase anticipated to provide an initial 13
million MasterCard-branded National Identity Smart Cards.
Confirming this to DigitalSENSE Business News, the
MasterCard’s Vice President and Area Business Head for West Africa, Ms
Omokehinde Ojomuyide said their involvement would ensure the cards are well
secured and globally acceptable.
“MasterCard is also saddled with the responsibility of
deepening financial inclusion and promoting the cash-less initiatives,” she
declared, adding that the all allegation of MasterCard cornering the affiliate
contracts on this scheme was untrue.
MasterCard, she insisted, has identified with the country’s
financial inclusion and cash-less initiative, which seek to reduce the number
of the unbanked and reduce the costs associated with cash transactions, with
over 40 years experience.
She pointed out that the cash-less initiative was a
forward-looking scheme, maintaining that the cost managing cash-based economy
is between 0.5 per cent and 1.5 per cent of the Gross Domestic Product of most countries.
Ojomuyide explained that these costs comprise printing and
distribution, security and handling, lost time associated with queuing to
withdraw cash, to name a few, even as she said that the current scheme with the
Federal Government, will be issued before the end of the year.
She described corruption as bane of most economies that deal
on cash-based regime, stressing that robbery, terrorism financing, kidnapping
are all products of huge cash transactions, as complicates every efforts to
trace the sources.
She emphasised the readiness of MasterCard to deliver on
this project, even as Ojomuyide called for understanding and support of
Nigerians on this scheme.
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