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Esigie Aguele, Co-founder and Chief Executive Officer of VerifyMe Nigeria, has highlighted the critical role of digital identity in driving Nigeria’s economic growth, national security, and development planning.
Speaking on the sidelines of the 7th International Identity Day, organized recently in Abuja by the National Identity Management Commission (NIMC), Aguele stressed the need for robust digital identity infrastructure to enhance financial inclusion and support national development.
“Digital identity is the foundation of our economy, our security, and capital planning,” Aguele said.
“This day reminds us to assess our progress, define our goals, and plan for the future of identity in Nigeria.”
He explained that effective digital identity systems are essential not only for expanding access to financial services but also for enabling cross-border interoperability and building public digital infrastructure.
Aguele commended NIMC’s leadership for ongoing reforms aimed at improving data protection and addressing identity data misuse.
He said “We’ve seen meaningful progress with the introduction of the NIN-Auth repository and smarter frameworks that support industry growth and private sector innovation”.
“VerifyMe remains a committed partner in this ecosystem and supports collaboration between government and industry.”
On data privacy, Aguele noted that many Nigerians, like users globally, often skip reading terms and conditions before consenting to data use.
“Most people don’t read the fine print, and in a country with varying literacy levels, this becomes a serious issue,” he said.
“Regulated companies must standardize terms and make them understandable to protect users.”
He called for more public education and awareness to help citizens understand how their data is used and to promote informed consent.
“People are busy, and adoption can be challenging,” he said.
“But we must continue to promote transparency and encourage individuals to know their rights and ask questions.”
Aguele also addressed the challenges regulators face in adapting to innovation in the digital space, particularly with the transition from Web2 to Web3.
“As identity providers develop secure, flexible solutions, regulators are increasingly cautious of fully decentralized systems—especially those that limit oversight and governance,” he said.
Aguele expressed confidence in Nigeria’s digital identity progress and reiterated VerifyMe’s commitment to building a secure and inclusive ecosystem.
“The future of our economy and security depends on how well we build and protect digital identity systems,” he said.
“Collaborating with government and civil service teams focused on progress has been a positive experience.”
Despite being Africa’s largest economy, Nigeria continues to face challenges related to financial inclusion, security, and public service delivery.
He noted that scalable digital identity solutions are essential to overcoming these barriers and expanding access to services such as banking, healthcare, and social programs.
