AfriGO, the national domestic card scheme powered by Afrigopay Financial Services Limited (AFSL), has embarked on strategic partnerships with fintech companies and banks to deepen financial inclusion and extend digital payment services to Nigeria’s underserved populations.
One of these partnerships was with Kolomoni Microfinance Bank and the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) to distribute AfriGO debit cards to millions of Nigerians.
This collaboration will leverage Kolomoni’s digital banking expertise and AMMBAN’s extensive agent network to reach unbanked and underserved communities.
“This partnership will facilitate access to affordable, secure, and instant financial services for Nigerians who have traditionally been excluded from the formal banking system,” said Ebehijie Momoh, managing director of AfriGo. “It represents a significant step toward achieving our collective goal of deepening financial inclusion and accelerating the adoption of cashless transactions in Nigeria.”
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In addition to Kolomoni and AMMBAN, top fintech companies like Moniepoint, Palmpay, OPay, and Flutterwave have also aligned with AfriGO in its mission. Moniepoint and Palmpay, in particular, plan to distribute over 10 million AfriGO debit cards nationwide and roll out tap-to-pay solutions that promise secure, contactless transactions across the country.
Tosin Eniolorunda, chief executive officer of Moniepoint Inc., said, “The Moniepoint/AfriGO card is not just a product; it’s a vital tool that will extend our reach, particularly to those traditionally excluded from the formal financial system.”
“Building on Moniepoint’s impressive track record, this partnership will offer Nigerians a more affordable payment option while ensuring instant transaction settlement through AfriGO.”
The AfriGO card, introduced by the Central Bank of Nigeria (CBN), is a domestic debit card scheme designed to perform only transactions within Nigeria. It is part of the CBN’s effort to localise payment systems, reduce foreign exchange pressures, and compete with international card providers like Visa, Mastercard, and Verve in Nigeria’s $22 billion cards and payments market.
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Unlike international cards, the AfriGO card offers significantly lower transaction fees and supports seamless purchases, both online and offline, as well as ATM withdrawals, fund transfers, and payments via agent POS terminals. Importantly, the AfriGO Instant Settlement feature ensures real-time transaction finalisation, which helps merchants and agents manage cash flow more efficiently while reducing operational risks.
Furthermore, the AfriGO card is designed to integrate with the e-Naira, Nigeria’s central bank digital currency, enhancing its utility and boosting digital adoption nationwide. These partnerships also support the Federal Government’s financial inclusion agenda, which targets integrating over 20 percent of Nigeria’s unbanked population into the formal financial system.
