Paragraph 1: Introduction to the Afrigo Card and its Significance
The United Bank for Africa (UBA) Plc has unveiled the Afrigo Card, a domestically designed and implemented payment card scheme specifically tailored for the Nigerian market. This initiative, a collaborative effort between the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS), represents a significant step towards reducing reliance on international card schemes and fostering a more self-reliant and inclusive financial ecosystem. The Afrigo Card is positioned as a secure, cost-effective, and readily available alternative for everyday transactions, aligning with the CBN’s strategic objectives of promoting financial inclusion and accelerating the growth of the digital economy. This move empowers Nigerian consumers and businesses with a naira-denominated payment option that is optimized for local needs and economic realities.
Paragraph 2: UBA’s Leadership in Financial Innovation and Inclusion
UBA’s introduction of the Afrigo Card underscores the bank’s commitment to pioneering financial advancements and driving inclusivity within Nigeria’s financial landscape. Shamsideen Fashola, UBA’s Group Head of Retail and Digital Banking, emphasizes the card’s adaptability and its potential to cater to a wide spectrum of users, from market traders and students to small business owners and individuals with limited income. The Afrigo Card offers a practical and accessible payment solution that addresses the specific financial needs of Nigerians across various demographics. By championing this innovative payment solution, UBA reinforces its position as a leader in driving financial innovation and accessibility for all segments of the Nigerian population.
Paragraph 3: Features and Benefits of the Afrigo Card
The Afrigo Card is equipped with a comprehensive suite of features designed to ensure security, convenience, and accessibility for its users. Utilizing chip-and-PIN technology, the card provides robust security against fraud and unauthorized access. Cardholders can seamlessly conduct transactions at ATMs and Point-of-Sale (POS) terminals nationwide, with 24/7 access to their funds. Furthermore, the card offers attractive benefits and rewards programs for users. Its affordability, combined with its advanced security features and the potential for future enhancements like biometric authentication and offline transactions, positions it as a crucial instrument in promoting cashless transactions throughout Nigeria.
Paragraph 4: Targeting Diverse Demographics and Empowering Financial Inclusion
A key aspect of the Afrigo Card’s design is its focus on inclusivity, catering to a broad range of demographics, including low-income earners, artisans, students, and market traders. By offering a flexible, affordable, and efficient way to manage finances, the Afrigo Card empowers individuals who may have previously been excluded from formal financial services. It provides a practical tool for managing daily transactions, facilitating savings, and participating in the digital economy. This focus on inclusivity aligns with UBA’s commitment to expanding financial access and empowering individuals across all socioeconomic strata.
Paragraph 5: UBA’s Commitment to Innovation and Customer-Centric Solutions
Joachim Iloemezue, UBA’s Head of Cards, reiterates the bank’s dedication to delivering innovative and customer-centric financial products. He highlights the Afrigo Card as a transformative solution for Nigerians, offering not only a dependable and cost-effective alternative for daily transactions but also enhanced security, convenience, and nationwide accessibility. This initiative reinforces UBA’s unwavering commitment to driving financial inclusion and providing its customers with cutting-edge financial solutions that empower them to manage their finances effectively. The Afrigo Card represents another step forward in UBA’s mission to provide accessible and innovative financial services to all Nigerians.
Paragraph 6: Accessibility and Acquisition of the Afrigo Card
The Afrigo Debit Card is readily available to customers at any UBA branch for a nominal fee of N1,000 plus N75 VAT. This accessible pricing strategy further underscores the card’s focus on inclusivity and its aim to reach a wide range of users, regardless of their income level. This accessibility, combined with its robust features and benefits, positions the Afrigo Card as a game-changer in the Nigerian financial landscape, promoting cashless transactions and empowering individuals across all segments of society with a secure, affordable, and convenient payment solution. By making the card easily accessible through its extensive branch network, UBA is actively working to ensure that all Nigerians can benefit from this innovative financial tool.
