AfriGO, Nigeria’s first domestic card scheme launched in 2023 by the Central Bank of Nigeria (CBN) in collaboration with the Nigeria Inter-Bank Settlement System Plc (NIBSS) has been making significant progress lately.
With features such as instant merchant settlements, offline transaction capabilities, and a fully localised processing system, the card is already gaining ground across banking and commercial sectors.
But what exactly is AfriGO—and why does it matter now? Techparley’s Quadri Adejumo breaks down how this homegrown innovation is reshaping Nigeria’s payment landscape, empowering merchants, and putting control of financial data back into local hands.
What Is AfriGO?
AfriGO is Nigeria’s first indigenous card payment scheme created to serve as an alternative to international brands like Visa, Mastercard, and Verve. It allows users to make everyday payments, and also supports offline transactions.
According to multiple reports, the card has been making significant progress since its launch in 2023, gaining adoption across major banks. The card is issued by leading Nigerian banks including First Bank, Wema Bank, Stanbic IBTC, Sterling Bank, Access Bank, and others.
About AfriGO
The scheme is operated by Afrigopay Financial Services Limited (AFSL), a subsidiary of NIBSS, which manages its integration across banking systems and commercial platforms.
AFSL’s role includes ensuring interoperability with ATMs, POS machines, and online portals—making the card functional across multiple payment channels.
Ebehijie Momoh, CEO of AFSL, has described AfriGO as more than just a payment card, expressing enthusiasm for the momentum gained since launch.
“AfriGO is more than just a payment card—it is a symbol of our nation’s commitment to securing our financial data, empowering our merchants, and providing Nigerians with a reliable, homegrown payment solution,” she said in a recent press briefing.
What This Means
AfriGO represents a major shift in how Nigerians interact with money, how businesses get paid, and how the country protects its financial data. Its impact include:
- Faster Payments for Merchants: AfriGO’s instant settlement feature ensures that businesses, especially SMEs, receive payments immediately.
- Lower Transaction Costs: By operating within Nigeria and avoiding international payment networks, AfriGO reduces transaction fees for both consumers and merchants.
- Financial Inclusion Gains Ground: With support for offline transactions and widespread bank adoption, AfriGO brings digital financial services to underserved and remote areas with limited internet access.
- Greater Data Sovereignty: All AfriGO transactions are processed locally, ensuring Nigerians’ financial data remains within the country and under national regulatory control.
- A Model for African Fintech Independence: Nigeria’s domestic card scheme sets a precedent for other African nations seeking to build secure, localised payment infrastructures that align with their economic and social priorities.
Understanding AfriGO’s Offline Advantage
One of AfriGO’s most impactful features is its capacity for offline payments. This means that even without real-time internet connectivity, customers can complete transactions using the card.
For rural communities and mobile agents who often operate in low-bandwidth areas, this feature is crucial. Offline transactions encourage financial inclusion by offering digital services where other card schemes might fail.
Are Other African Countries Doing the Same?
Across Africa, several countries are following the lead. In Ghana, the Bank of Ghana introduced the Gh-Link card as part of its national payment infrastructure, enabling local transactions and reducing transaction costs.
Similarly, in Ethiopia, the EthSwitch national payment system has begun laying the foundation for a homegrown card network to improve local settlement capabilities and reduce forex outflows.
In South Africa, efforts have also been made to deepen the use of localised payment systems alongside established platforms like BankservAfrica.
According to financial analysts, this domestic initiatives reflect a broader continental shift toward building resilient, inclusive, and cost-effective payment ecosystems.
Understanding the Future of AfriGO
With an expanding network of banks, businesses, and agents on board, AfriGO is steadily positioning itself as Nigeria’s preferred payment card.
Plans are underway to deepen its integration into mobile money ecosystems, transportation systems, and e-commerce platforms.
Industry insiders see AfriGO not just as a product but as the infrastructure for a new era in Nigerian finance. As adoption increases, so too does the potential for Nigeria to lead other countries in developing indigenous financial technologies that serve local needs.
Talking Points
It is commendable that the Central Bank of Nigeria, in partnership with NIBSS, has developed AfriGO, Nigeria’s first domestic card scheme that prioritises local processing, data sovereignty, and financial inclusion.
AfriGO’s instant settlement feature directly addresses one of the biggest pain points for small businesses: delayed payments. By ensuring merchants receive funds immediately, it supports better cash flow and operational stability.
At Techparley, we see AfriGO’s offline transaction capability as a breakthrough innovation for reaching communities with limited internet access, expanding digital financial services beyond Nigeria’s urban centres.
The card’s ability to integrate with existing ATM, POS, and agent banking infrastructure makes it both scalable and adaptable to Nigeria’s diverse economic landscape. It’s a solid foundation for building inclusive, secure digital payments.
Looking ahead, sustained success will depend on awareness, education, and ease of access. Collaborating with microfinance institutions, agent networks, and local market leaders could help drive widespread adoption across Nigeria’s informal economy.
