Unity Bank and AfriGo Forge Partnership to Deepen Electronic Payments and Financial Inclusion

Unity Bank Plc has officially announced a strategic collaboration with AfriGo, Nigeria’s domestic card scheme provider, aimed at significantly boosting card usage across its retail customer segments and accelerating the adoption of electronic payments, thereby enhancing financial inclusion across the nation. This partnership underscores a growing national drive towards localized payment solutions and a cashless economy.

The collaboration was solidified during a high-level strategic business engagement held recently at Unity Bank’s head office in Lagos, where executive teams from both institutions discussed synergies to expand access to electronic payments. The initiative aligns with the Central Bank of Nigeria’s push for domestic alternatives in the payment ecosystem, aiming to create more cost-effective and accessible transaction methods for Nigerians.

Mr. Ebenezer Kolawole, Managing Director/Chief Executive Officer of Unity Bank, emphasized the bank’s commitment to the new alliance. “We are committed to making the AfriGo Card a primary delivery channel for Unity Bank,” he stated during the session. “As a national domestic card scheme, it deserves to be promoted both internally and externally as a local solution with significant potential to redefine Nigeria’s card payment landscape.” He further pledged Unity Bank’s continued support for AfriGo card adoption across its extensive network and urged AfriGo to intensify awareness campaigns to drive broader market acceptance.

AfriGo’s Managing Director, Mr. Ebehijie Momoh, commended Unity Bank for its instrumental support, noting that Unity Bank ranks among the top five adopters of the AfriGo card. He highlighted AfriGo’s growing impact in expanding financial inclusion and improving access to electronic payments, particularly in underserved markets. Momoh elaborated that AfriGo has continued to innovate with technologies that support instant payments and offline capabilities, ensuring broader access to e-payment systems even in areas with limited connectivity. He also pointed to successful partnerships, such as with Tap & Go solutions, which have accelerated contactless payment adoption, offering increased convenience for cardholders.

Momoh expressed optimism about leveraging Unity Bank’s extensive retail network to drive deeper collaboration, aiming to enhance e-banking penetration nationwide. This partnership is seen as a critical validation of AfriGo’s model, providing secure, affordable, and localized alternatives to foreign-issued cards, with all transactions settled in Naira to eliminate foreign exchange risks and lower costs.

Unity Bank has a history of pioneering digital innovations, including launching USSD banking (*7799#) in local languages, and introducing youth-centric platforms like Unifi and GenFi. This new collaboration with AfriGo reinforces Unity Bank’s enduring culture of digital innovation and its dedication to fostering financial inclusion through homegrown technology.

Industry observers suggest that this alliance could significantly reshape Nigeria’s payment value chain, especially if Unity Bank’s retail reach and AfriGo’s evolving technological capabilities succeed in onboarding the next wave of electronic banking users, particularly in rural and semi-urban communities outside major urban centers. Stakeholders are keenly watching to see if this collaboration sets a new benchmark for public-private partnerships aimed at achieving a more inclusive, cash-lite economy in Nigeria.