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CardForté Limited has marked its fifth anniversary with a strong message to Nigeria’s financial sector that the future of the country’s payment ecosystem depends on local infrastructure, not imports.
During a leadership breakfast held over the weekend, at the Lagos Polo Club in Ikoyi, the indigenous smart card manufacturer convened top executives from banks, fintechs and payment schemes to examine the role of domestic production in scaling Nigeria’s fast-growing digital economy.
The event brought together industry leaders for a series of panel discussions focused on some of the sector’s most pressing challenges, including foreign exchange exposure, financial inclusion and the evolution of payment technologies.
The first panel, titled “Local vs. Global: The Battle for the Nigerian Wallet,” explored the ongoing tension between international card schemes and domestic alternatives. Speakers emphasized that, with more than 95 percent of transactions occurring within Nigeria, local card schemes present a compelling economic advantage.
They noted that domestic solutions can help reduce dependence on foreign exchange while strengthening the resilience of the financial system. Attention then shifted to financial inclusion during the “Financial Inclusion and Agency Banking” session. Panelists examined the growth of agent banking networks, which have expanded access to financial services for millions of Nigerians. While acknowledging the progress made, they also highlighted ongoing challenges such as fraud risks, liquidity constraints, and the need for stronger consumer protection frameworks as the sector continues to scale.
In the final session, “Beyond the Card,” industry experts discussed emerging payment technologies, including tokenization and contactless payments.
Despite global momentum toward digital and tap-to-pay solutions, speakers agreed that physical cards remain essential in Nigeria’s current landscape due to infrastructure limitations and cost considerations.
Beyond the discussions, the anniversary celebration also featured a football tournament involving teams from leading financial institutions and fintech companies, reinforcing collaboration within the ecosystem. PalmPay emerged as the tournament winner.
CardForté used the occasion to highlight its own growth and contribution to the sector.
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Since commencing operations in April 2021, the company has produced more than 27 million payment cards for over 150 clients, positioning itself as a key partner for banks and fintech startups entering the market.
The company also underscored its commitment to local talent development. According to its leadership, a significant portion of its workforce has been built through a graduate trainee programme that transitions young Nigerians from entry-level roles into full-time positions.
CardForté maintains a fully local workforce, prioritizing skills transfer by training employees abroad and reintegrating that expertise domestically.
Speaking at the event, Chief Executive Officer, Seun Lawal, gtvfgdgffgdggdggfassaid the company’s mission extends beyond manufacturing to reshaping perceptions about local capability.
“For a long time, there was a belief that high-value, technical solutions had to come from outside Nigeria,” he said. “We are proving that local manufacturing can meet global standards while delivering efficiency, reliability and innovation.”
He added that domestic production reduces turnaround times, minimizes reliance on imports and enhances data sovereignty by keeping critical processes within the country.
The anniversary event concluded with a dinner attended by shareholders, board members, staff and industry partners, reflecting the company’s broad network across banking, technology and professional services.
As Nigeria’s payments industry continues to evolve, CardForté’s five-year journey highlights a central theme: building a sustainable digital economy will require strong, homegrown infrastructure capable of supporting long-term growth.
