Unity Bank bets on AfriGo to boost local payments, deepen financial inclusion

In a bold move that underscores the rising tide of homegrown fintech innovation in Nigeria, Unity Bank Plc is deepening its partnership with AfriGo, the national domestic card scheme, in a bid to expand access to electronic payments and accelerate financial inclusion.

The alliance was the focus of a strategic engagement last Friday at Unity Bank’s Lagos headquarters, where top executives from both institutions mapped out new synergies. At the heart of the discussion was Unity Bank’s renewed commitment to making AfriGo cards a centerpiece of its retail banking strategy.

“We are committed to making the AfriGo card a primary delivery channel for Unity Bank,” said Mr. Ebenezer Kolawole, Managing Director/CEO of Unity Bank. “As a national domestic card scheme, it deserves to be promoted both internally and externally as a local solution with significant potential to redefine Nigeria’s card payment landscape.”

Unity Bank, which ranks among the top five adopters of AfriGo cards, is banking on this partnership to not only broaden customer touchpoints but also champion a narrative of indigenous innovation in electronic payments.

For AfriGo, this growing alliance represents a critical validation of its model — offering cost-effective, secure, and localized alternatives to foreign-issued cards. According to AfriGo Managing Director, Mr. Ebehijie Momoh, the scheme’s adoption curve is rising steadily, driven by innovation in contactless and offline payment capabilities.

“Unity Bank has been an exemplary partner,” Momoh noted. “Their strong retail presence and willingness to innovate position them as a key driver in our mission to extend electronic payment systems into Nigeria’s underserved regions.”

The collaboration comes at a time when Nigeria’s fintech ecosystem is witnessing a quiet shift: from foreign-dominated solutions to an increasingly confident embrace of local infrastructure. The Central Bank of Nigeria’s push for domestic alternatives — especially in payment systems — has lent regulatory tailwinds to initiatives like AfriGo.

Unity Bank is no stranger to financial innovation. From pioneering USSD banking (*7799#) in local languages, to launching youth-centric platforms like Unifi and GenFi, the Bank has consistently positioned itself as a challenger brand, especially in underserved and rural communities.

Industry watchers say this latest move could reshape Nigeria’s payment value chain — especially if Unity Bank’s retail reach and AfriGo’s evolving tech stack can unlock the next wave of electronic banking users, particularly outside major urban centers.

“The future of payments in Nigeria will be defined by local ingenuity,” said a fintech analyst familiar with the sector. “Unity Bank’s backing of AfriGo is not just a strategic move — it’s a signal that Nigerian institutions are ready to invest in local solutions that work for Nigerian realities.”

As digital payment adoption grows, stakeholders are watching closely to see if this collaboration sets a new benchmark for public-private partnerships aimed at achieving a more inclusive, cash-lite economy.