VerifyMe Unveils Nigeria’s 1st Digital ID and KYC Industry Report

Lagos, Nigeria – Identity verification and KYC technology startup, VerifyMe Nigeria, in partnership with global consulting firm, Dalberg Advisors, has announced the release of Digital ID in Nigeria: State of the Industry Report.

The 33-page report is the first independent assessment of the country’s digital identity and eKYC segment as government, private sector stakeholders and civil society take accelerated action towards driving a digital transformation agenda to enable inclusion and growth in Africa’s largest economy.

Contributors to the report include: Aliyu Abubakar Aziz, Director General, National Identity Management Commission (NIMC), digital identity companies in Nigeria and other ancillary players who all collaborated to further the discourse as well as advance the landscape.

Speaking on the report, Esigie Aguele, Co-founder and Chief Executive Officer at VerifyMe, stated: “As an identity and KYC company that is helping to solve the problem of financial inclusion, we see the digital identity space not just as a business but as a critical aspect of sustainable development and financial inclusion in Nigeria and Africa.”

“We see the partnership Dalberg Advisors, a leading impact advisory group that brings together strategy consulting, design thinking, big analytics and research to address complex social and environmental challenges, as critical. Not only does the Digital ID in Nigeria: State of the Industry report provide a comprehensive snapshot of the Nigerian digital identify ecosystem, but we also believe it will promote standardisation and build capacity and collaboration within the Nigerian industry,” he added.

“Digital identity has the potential to drive greater social and financial inclusion around the world, but especially in countries such as Nigeria which are digitizing and innovating rapidly,” said Robin Miller, Partner and Global Digital & Data Practice Lead at Dalberg Advisors. “Our hope for this report is that it results in a greater understanding of the state of the industry in Nigeria today, but also the steps necessary to ensure that digital IDs live up to their promise of driving truly inclusive growth.”

Themes explored include: the potential of digital identity, challenges of uptake in Nigeria and recommendations to advance the digital identity system in Nigeria. The report also contains use cases from the financial services, eCommerce and government sectors.