Project Stakeholders

Central Bank of Nigeria (CBN)  
The Central Bank of Nigeria (CBN) is Nigeria’s apex financial regulatory authority. It was established by the CBN Act of 1958 and it began operations in July 1959. It has been responsible for the growth, soundness, stability and viability of Nigeria’s financial system ever since. Its objectives include

  • Ensuring monetary and price stability
  • Issuing legal tender currency in Nigeria
  • Maintaining external reserves to safeguard the international value of Nigeria’s legal tender currency
  • Promoting a sound financial system in Nigeria and
  • Acting as banker and providing economic and financial advice to the Federal Government of Nigeria

Nigerian Identity Card Management Commission (NIMC)
Established by the NIMC Act No 23 of 2007, NIMC is a federally-funded body that was set up to create, operate and manage Nigeria's national identity card database, integrate all the existing identity databases in government institutions, register individuals and legal residents, assign a unique national identification number to each person living in Nigeria and introduce general multi-purpose cards. NIMC began its first enrollment exercise in September 2010 and issued the first multipurpose card in 2013. It currently holds the single largest and most reliable biometric and textual identity database of Nigerians in Nigeria, in Africa and in the world.

Nigerian Interbank Settlement Scheme (NIBSS)
Nigeria Inter-Bank Settlement System Plc (NIBSS) was incorporated in 1993 and is owned by all licensed banks in Nigeria including the Central Bank of Nigeria (CBN). It commenced operations in June 1994 and today handles inter-bank payments. It does this in order to remove potential bottlenecks associated with inter-bank fund transfer and settlement. NIBSS also provides interconnectivity and interoperability of retail electronic payments in Nigeria. This way, there is ubiquitous card acceptance across the country and payment device disputes are easily resolved. NIBSS works with all the banks and financial institutions in the country on both the payment and collection side to give its clients value added services. NIMC’s innovative consumer payment solutions currently power Nigeria’s internet and mobile banking industry. These solutions also drive digital payments and settlements in Nigeria’s emerging ecommerce industry

Orado Technologies Limited (Project Consultants)
Orado Technologies Limited is a Nigerian-based company that was founded by two university school mates to help deploy technology and engineering solutions towards nation building. Its focus areas include data science, software engineering, IT infrastructure, identity management and IT project management. In the last five years, Orado has handled and is still handling for both government and for the private sector, IT consulting and training projects that range from data conversion and identity management to data archiving and other aspects of IT infrastructure. Some of its clients include Nigeria Interbank Settlement System Plc (NIBSS), Nigeria Identity Management Commission (NIMC) and the Central Bank of Nigeria (CBN).

Project Partners

Nigeria Inter-Bank
Settlement System Plc
Central Bank of Nigeria
National Identity Management
Commission