Sterling Bank, NIBSS partner on AfriGO debit cards

Sterling Bank has teamed up with AfriGO and the Nigeria Inter-Bank Settlement System to introduce the “Independence Reward Programme”.

Launched in commemoration of Nigeria’s 64th Independence anniversary, the bank noted in a release that the initiative sought to distribute 100,000 complimentary AfriGO debit cards to essential service providers throughout the nation.

It stated that the initiative aligned with Nigeria’s cashless policy, celebrating both national pride and the increasing shift towards a digital economy.

The Chief Product Officer at Sterling Bank, Mustapha Otaru, emphasised the programme’s dual purpose, stating, “We are leveraging fintech solutions to honour our nation’s backbone, the service providers. This program is not just about rewards; it’s about accelerating the shift towards a digital economy.”

According to the lender, cardholders will benefit from an array of incentives, including a bonus upon activation and additional rewards for completing 10 transactions within a month.

It said the programme would feature a league campaign where 10 high-volume users stand to win cash prizes, adding that the initiative would run from October to December, providing ample opportunity for participation.

The Chief Executive Officer of Afrigopay Financial Services Limited, Ebehijie Momoh, highlighted the programme’s potential to enhance digital payment adoption among service providers.

“By ‘gamifying’ card usage, we are making digital transactions more attractive and accessible to a crucial segment of Nigerian society,” Momoh noted.

The Head of Engineering at Peerless, Olusegun Adeoye, remarked on the importance of local technology and innovation in the initiative, stating, “Following the successful deployment of SeaBaaS for Sterling Bank, we are collaborating on this program to further demonstrate our commitment to advancing Nigeria’s technological capabilities.”

The lender noted that the collaborative effort between Sterling Bank, NIBSS, and AfriGO not only marked a milestone in Nigeria’s digital transformation but also set a precedent for future public-private partnerships in the fintech space.

The PUNCH reports that Afrigopay Financial Services has unveiled an instant Point of Sale settlement feature for AfriGO card transactions.