PRESS RELEASE
A coalition of northern youth organisations under the umbrella of the Northern Youth Frontiers (NYF), has commended President Bola Ahmed Tinubu over the Federal Government’s strategic partnership with global payments company Mastercard.
The group also called on the Federal Government to ensure that Northern Nigeria is fully integrated into the implementation of the fintech and digital economy initiatives expected to emerge from the partnership.
In a statement signed by the Chairman of the NYF, Sama Musa, the coalition said the recent visit of Mastercard Global Chief Executive Officer, Michael Miebach, to President Bola Tinubu at the State House in Abuja demonstrated growing international confidence in Nigeria’s economic reforms.
He said: “Our commendation follows the high-powered visit of Mastercard’s Global CEO, Michael Miebach, to President Tinubu at the State House in Abuja, where Miebach revealed that the tech giant actively injects $2 Billion in foreign exchange into the Nigerian economy annually, blocks $200 million in financial fraud, and is set to deploy massive resources to unlock the potential of Nigeria’s Micro, Small, and Medium Enterprises (MSMEs).”
The NYF described the development as a landmark investment that would strengthen Nigeria’s digital economy while creating new opportunities for businesses, entrepreneurs and young people across the country.
The coalition highlighted several key aspects of the proposed collaboration, including the establishment of a Cyber Centre of Excellence that will deploy artificial intelligence to enhance cyber threat intelligence, combat financial fraud and strengthen Nigeria’s expanding digital infrastructure.
It also welcomed plans for a three-year digital capacity-building programme designed to equip five million small businesses with digital and cybersecurity skills, as well as expanded collaboration between Mastercard, the Central Bank of Nigeria and local financial institutions to improve intra-African trade and facilitate diaspora remittances.
While applauding the initiative, the NYF urged the Federal Government to ensure that Northern Nigeria does not miss out on the opportunities presented by the partnership.
He added, “The Northern Youth Frontiers notes that this deep global commitment from Mastercard validates the economic reforms driven by the president. We celebrate the key components of this direct economic booster.
“The cyber centre of excellence, A proposed advanced technical hub leveraging AI to capture threat intelligence, combat financial fraud, and protect the nation’s rapidly scaling digital architecture.
Massive SME Digital Training. A strategic three-year capacity-building initiative aimed at equipping 5 million small businesses with vital digital skills and cybersecurity defences.
“Expanding Digital Economic Corridors, deeper operational collaborations with the Central Bank of Nigeria (CBN) and local financial institutions to boost intra-African trade and streamline diaspora remittances.
“A Passionate Plea for Equitability, do Not Leave the North Behind in Fintech. While celebrating this massive economic victory for Nigeria, the Northern Youth Frontiers seized this historic moment to firmly present the interests of the millions of industrious youths and small business owners across the Northern region.
“Historically, the Northern region has lagged significantly behind in terms of financial technology (fintech) infrastructure, digital inclusion, and access to modern credit facilities compared to our Southern counterparts. For this Mastercard partnership to achieve true national transformation, it must be rolled out equitably.
“The NYF passionately appeals to President Bola Ahmed Tinubu, the Minister of Finance and Coordinating Minister of the Economy, and the Minister of Communications, Innovation and Digital Economy, to deliberately ensure that the North is prominently featured as a major hub when these programs commence.
“Specifically, the coalition requests, Zonal Sub-Hubs for the Cyber Centre of Excellence: That tech incubation and cyber intelligence structures be decentralized to key Northern urban centres like Kaduna, Kano, or Maiduguri to harness the digital talents of Northern youths.
“Targeted Allocations for the 5 Million SME Training: That a substantial quota of the 5 million small businesses slated for digital skills training be strictly reserved for entrepreneurs across the 19 Northern states, particularly our local traders, agricultural MSMEs, and cottage industries.”
He further advocated an aggressive financial inclusion drive targeting unbanked and underbanked rural communities across Northern Nigeria through partnerships with financial institutions.
“President Tinubu has consistently stated that Nigeria’s tech-savvy youth are our greatest national asset. We, the Northern youth, are ready, capable, and eager to compete in this global digital economy.
“However, to build a resilient and balanced nation, the digital divide must be bridged. We thank Mr. President for securing this $2 billion economic lifeline, and we trust his fatherly disposition to ensure that the North is fully carried along as a primary beneficiary of the Mastercard digital revolution,” he said.