By Babajide Komolafe
Cardcentre Â Â Â Nigeria Ltd, Â Â Â the pioneer in card technology and production said it has exited from the Small and Medium Enterprises Equity Investment Scheme (SMEEIS).
Announcing this development after the companyâ€™s strategic management retreat recentlyÂ held inÂ Â Lagos,Â Managing Director/Chief Executive of the company, Mr. Goke Idris disclosed explained that the decision was informed by the need to strategies for the future development of card technologies while repositioning for even more innovative service offerings in Nigeria.
He paid glowing tribute to the management and staff of the company for their resourcefulness and dedication to duty over the years He also commended First funds Nigeria Ltd. and Oceanic Bank for their guidance and unwavering support throughout the formative years.
SMEEIS was Â Â Â established by the Â Â Â Bankers Committee Meeting in 2001. Under the scheme, banks are required to set aside 10 per cent of their pretax profit for equity investment in small and medium industries. The company joined SMEEIS in December 2005 through equity investment by FirstÂ Funds and Oceanic BankÂ and was awarded the Central Bank of Nigeria (CBN) prize for employment generation under schemeÂ in 2006..
Leveraging on the investment support, the company the company builtÂ the largest Card personalization plant in the world with over 50% of the financial cards market became the first company to commence the local production of recharge cards with 20 per cent of the market and also the firstÂ companyÂ inÂ theÂ cardÂ personalizationÂ Â IndustryÂ inÂ Â NigeriaÂ toÂ achieveÂ ISO 2000/2001 certification.
CardCenter was also the first company to commence the production of PVC cards used in the production of Identification, ATM cards and recharge cards in the countryÂ Cardcentre, a subsidiary of Chams Pic; the Identification, e-payment and transactional services conglomerate provides card based solutions for over 19 of Nigeriaâ€™s biggest banks, the Telcos, Government agencies, educational institutions etc.
The companyÂ have successfully executed several high profile projects including the first ever Nigerian National Identity Card Project.Â and INEC Voters cards.