This week I had the privilege of meeting with Nigerian President Goodluck Jonathan and a delegation from the Nigerian government at the New York Stock Exchange to discuss the Nigerian economy and the advent of electronic payments as the country pushes a Cashless Nigeria agenda. It was a great discussion and reinforced the importance of continued dialogue and public-private partnerships.
We are proud to be playing a part with innovative payments technologies in Nigeria. Earlier this year, the Nigerian government, in partnership with MasterCard announced the roll out of 13 million National Identity Cards — the largest formal electronic payment solution in Nigeria and the broadest financial inclusion initiative of its kind on the African continent. And they’re just getting started! The Nigerian National Identity Management Commission plans to introduce more than 100 million cards to Nigeria’s 167 million citizens.
It was an honor to discuss this project with the President and members of his administration. We share a joint objective in supporting their Cashless Nigeria policy and it is encouraging to see firsthand how governments, under strong leadership, can leverage the efficiencies of electronic payments and move away from cash to the benefit of their citizens and the economy as a whole.