NIMC accuses fintech companies of buying NIN from fraudsters for as much as N5,000

The National Identity Management Commission (NIMC) has accused financial technology companies of buying the personal details and national identification numbers (NIN) of Nigerians from fraudsters.

According to a press release signed by the Head of Corporate Communications, Kayode Adegoke, the commission said fraudsters lure young ones to surrender their NIN for fees ranging from N1,500 to N2,000, who then sell the information to Fintech institutions for N5,000.

“The statement by EFCC that this fraud scheme is largely driven by an army of young Nigerians offering a paltry payment of between N1500 and N2000 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 N5000,” the statement reads.

The commission is thus cautioning Nigerians against selling their personal information and National Identification Number (NIN). The NIMC explained that the warning became necessary following concerns raised by the Economic and Financial Crime Commission (EFCC) about a circulating fraud scheme relating to the selling of NIN among young Nigerians for certain fees.

NIMC stated that the agency will not be responsible for information shared by an individual directly or by proxy for financial gain or inducement. It noted that the situation is not only of serious security concern but of grave consequences for the NIN holders.

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

In addition, the commission explained that any NIN presented to access services must be duly verified before granting such services. It also admonished Nigerians to utilise the service of NINAuth to safeguard their NIN and gain the ability to control their personal information.

Introduced by NIMC in May 2025, NINAuth is a cutting-edge suite of services that includes web, API and mobile verification designed to enhance data security, protect privacy, and simplify access to government services.

The platform aims to empower individuals with greater control over their personal information and regulate a reliable National Digital Identity for citizens and legal residents to affirm their identity.

The NINAuth is now employed for verification and authentication across Ministries, Departments and Agencies (MDAs), according to the Commission.

Also Read: What you should know about NINCard, the fake NIN enrollment portal.

NIMC crackdown on fake NIN production

Recently, the NIMC distanced itself from a circulating NIN enrollment and modification platform referred to as NINcard. The commission mentioned that the portal, with the web address NINcard.com, doesn’t originate from the commission and tagged it as fake. The fraudulent website joins a list of other platforms orchestrated by cybercriminals to defraud innocent Nigerians.

The scenario further highlights the extent to which fraudsters are willing to go in luring innocent Nigerians into surrendering their data, while also playing on the core need for survival by Nigerians.

Also, in March, the commission warned against unauthorised printing of National Identification Number cards by individuals, cyber cafés, and organisations across the country. The commission cautioned the public against patronising such services, emphasising that only the official NIMC General Multi-Purpose Card is legally recognised.

NIMC further advised Nigerians to stop using unauthorised NIN cards for identification, stressing that only the official NIN slip is valid and must be verified upon presentation for accessing services.

“The so-called NIN card being printed by some cyber cafes and individuals is not authorised by NIMC. On no account should it be presented as a means of identification,” the commission stated in March.

In its efforts to include all citizens nationwide in the identity scheme, the commission has now registered 120 million Nigerians, with the target of registering 200 million Nigerians by December 2025.