The management of SecureID, an indigenous smart card manufacturer, led by Kofo Akinkugbe, its managing director, has applauded the efforts of the Bank of Industry, BOI, in providing lifeline for enterprises in the real sector to grow the Nigerian economy.

Without the N1.1 billion facility granted by the bank, Akinkugbe said the company won’t be able to supply the 13 million high-end, residents’ identity cards for the Lagos State government.

“We are proud of our results so far, being an indigenous company encouraged by BOI, as what we have achieved is something many industry experts around the world insisted could not be done in Nigeria,” she noted.

During a facility tour, Rasheed Olaoluwa, managing director, BOI, explained that the company has a state-of-the-art smart card facility that enables the local production of SIM cards for the telecoms industry, bank payment cards and high security polycarbonate identity cards for the private and public sector.

“Our support for SercureID is in line with the nation’s vision of actualising local content production and helping achieving its dream of building the first card manufacturing plant in sub-Sahara Africa,” he stated.

Commissioned in 2005, SecureID pioneered the smart card supply and personalisation business sector several years ago and helped change the payment system in Nigeria; helping the Central Bank of Nigeria, CBN, to drive its cashless policy and financial inclusion scheme.