Nigerian fintech companies will be allowed to resume enrolling new customers in a few months, according to the Central Bank of Nigeria (CBN). The CBN had suspended new customer onboarding in April to address concerns about money laundering.
The National Identity Management Commission (NIMC) in Nigeria is making significant strides in its National Identity Number (NIN) enrollment drive. As of May 2024, over 107.3 million Nigerians have been captured in the national identity database. The NIMC is also working to expand capacity to enroll 250 million Nigerians and introducing a new multifunctional National ID Card that offers a variety of functionalities beyond just identification, including financial transactions, access to government services, and travel identification.
Despite facing economic challenges, Nigerians are displaying resilience and creativity, transforming adversity into opportunity across various sectors like arts, tech, and agriculture.