Digital Identification and Verification Market Report: A Detailed Research by Youverify and Asoko Insight

The pressing need to establish a reliable identity verification system in Nigeria has transcended just the constant fight against financial crimes but is now also required to propel transparency in the business sector in Nigeria. 
 

According to Transparency International, Nigeria ranks 154 out of 180 on Corruption Perception Index (CPI) with a major reason being the lack of transparency and existing control over relevant infrastructures. This could cost Nigeria up to 37% of its GDP by 2030, according to a study by PwC, stressing the need for a more robust digital identification and verification system.
 

This industry report explores the following:

• The current state of digital identification in Nigeria and the implication of the lack of a reliable accountability system for effective verification.
• The key role digital identification play in the betterment of the economy.
• Why digital harmonization is important for economic growth.