Friday, April 24th 2026

NIMC Accuses Fintech Firms of Buying Nigerians’ NIN Data from Fraudsters


NIMC Accuses Fintech Firms of Buying Nigerians’ NIN Data from Fraudsters
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The National Identity Management Commission (NIMC) has raised the alarm over a disturbing trend involving the illicit trade of Nigerians’ personal data, including National Identification Numbers (NIN), to financial technology companies. The Commission claims that fraudsters are colluding with young Nigerians to illegally harvest and sell this sensitive data.

According to a press release issued by Kayode Adegoke, Head of Corporate Communications at NIMC, the Commission stated that these fraudsters lure unsuspecting youths into surrendering their NINs in exchange for sums ranging from ?1,500 to ?2,000. The data is then resold to Fintech institutions for as much as ?5,000 per individual.

“The statement by EFCC that this fraud scheme is largely driven by an army of young Nigerians offering a paltry payment of between N1,500 and N2,000 to their victims to make them surrender a copy of their personal information details to them and sell the same information to some Fintech Institutions for about N5,000,” the NIMC statement reads.

The Commission warned that such actions carry grave security implications and reminded citizens that it bears no responsibility for any consequences arising from the voluntary disclosure of personal data to unauthorized individuals or third parties.

NIMC and EFCC Raise Red Flags

The alert follows a broader warning from the Economic and Financial Crimes Commission (EFCC) regarding a fast-growing scam where Nigerians — particularly youth — are exploited or complicit in the selling of identity credentials. NIMC has reiterated its stance that individuals must never disclose their NINs unless through authorised and verified channels.

“Nigerians have been informed repeatedly in the past by the NIMC not to disclose their NIN to any unauthorised individual or organisation,” the Commission stressed.

The commission also highlighted the importance of using its NINAuth platform — a secure digital identity verification system launched in May 2025 — to protect personal information and validate identity credentials before accessing government or commercial services.

Rise of Fake Identity Platforms and Unauthorized NIN Cards

In a related crackdown, NIMC warned the public about fraudulent platforms like NINcard.com, which falsely claim to offer enrollment or modification services for NIN. The Commission categorically disowned the site, describing it as part of a broader attempt by cybercriminals to deceive and defraud the public.

The Commission also raised concerns about the illegal printing of unauthorized NIN cards by individuals, cybercafés, and other informal agents. In an earlier statement made in March 2025, NIMC reminded Nigerians that only the NIN slip or the official General Multi-Purpose Card (GMPC) issued by the Commission is valid for identification.

“The so-called NIN card being printed by some cybercafés and individuals is not authorised by NIMC. On no account should it be presented as a means of identification,” the agency said.

Progress on National Identity Registration

Despite the challenges, NIMC reported steady progress in its drive to ensure a national digital identity for every Nigerian. As of July 2025, the agency has successfully registered over 120 million Nigerians, with an ambitious target of reaching 200 million by December 2025.

The Commission reiterated its commitment to safeguarding the integrity of Nigeria’s identity ecosystem and warned of the long-term risks of exposing personal data to unauthorized entities.

“This situation is not only a serious security concern but one with grave consequences for the NIN holders themselves,” it said.

Public Advisory

NIMC advises all Nigerians to:

  • Avoid selling or sharing their NIN and personal details.
  • Verify identities only through official platforms like NINAuth.
  • Refrain from using unauthorized NIN cards or enrolling on unofficial websites.
  • Report any suspicious activities related to identity fraud to NIMC or law enforcement agencies.

The Commission concluded by calling on Fintech firms and service providers to tighten due diligence processes and avoid engaging in data procurement practices that violate national laws or compromise user privacy.

 

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