QoreID Pitches Address Intelligence Beyond Nigeria Postcodes

In Short

VerifyMe Nigeria says Nigeria’s new National Digital Alphanumeric Postcode System helps identify where a building is, but it does not prove who lives there.

What Happened

VerifyMe Nigeria CEO Esigie Aguele said Nigeria switched on its National Digital Alphanumeric Postcode System on 1 October 2026. The system gives every addressable building an 11 character code tied to precise geographic coordinates.

Aguele credited the Federal Ministry of Communications, Innovation and Digital Economy and NIPOST for delivering the system after it had been discussed for almost two decades.

He said logistics companies, emergency services, and e commerce platforms will benefit from the new digital postcode system.

Aguele argued that the postcode system does not solve a key problem for financial services firms. He said banks, fintechs, lenders and insurers need to know their customers, and a postcode answers “where” but not “who.”

He described the missing piece as residency, meaning proving who lives at an address. He said residency “carries legal weight,” and is the problem that “the law, the regulator and the fraudster all care about.”

In additional context shared from the same article, Aguele said QoreID now produces a contextual address intelligence report that weighs five independent evidence layers.

Why It Matters

Nigeria’s postcode system can make location data clearer for deliveries and emergency response. But for regulated onboarding and fraud controls, the harder question is linking a person to an address.

Aguele framed that gap as a risk for any institution working under the Central Bank of Nigeria’s tiered KYC framework. KYC means know your customer, the checks financial firms use to verify who someone is.

If address data only points to a building, lenders and insurers may still need other tools to confirm residency before they can rely on an address for compliance and risk decisions.