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Business

Telecom operators submit 43million NINs to NIMC for verification as deadline ends

Telcos have submitted about 43 million NINs to the NIMC for verification in order to have them registered with their respective SIMs.

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Telecom operators have submitted about 43 million National Identity Number (NIN) to the National Identity Management Commission (NIMC) for verification, in order to have them registered with their respective Subscriber Identification Modules (SIMs).

This is as the Telecommunication companies said that they won’t block SIMs with unlinked submitted NINs as the deadline for the integration of NIN with SIM ends today, January 19, 2021.

This disclosure was made by the Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), Gbenga Adebayo, who spoke on behalf of the telecom firms.

According to a report from Punch, the NIMC provided about 45 million NINs, as it registered about 2 million people in the last 1 month after the Federal Government ordered citizens to register their SIMs with valid NINs.

READ: NIMC workers embark on indefinite strike leaving thousands of applicants stranded

What the Chairman of ALTON is saying

Adebayo said that the NINs has been sent to NIMC for verification in order to ensure that the numbers were harmonized with their respective SIMs.

  • I don’t have the number of SIM cards that have been linked but at the last count, NIMC told us that they have about 43 million Nigerians who have NINs. So, we will be safe to assume that a large percentage of these citizens have delivered their NINs to the operators by way of dialling the USSD access code and/or visiting the operators’ websites and uploading their NINs on the websites.
  • “And by extension, I will be right to say that operators have delivered those NINs to NIMC. Now, the second part of it, which is not in our control, is how many of these numbers uploaded by the operators and forwarded to NIMC have been harmonised? How many of them have been verified? That is not in our control, but as an industry, the large numbers we received from subscribers have since been delivered to NIMC.”

READ: Exxon Mobil to cut 14,000 jobs as pandemic hit oil demand, prices

Adebayo pointed out that the responsibility is now that of the commission to educate the public on the number of NINs that had been verified and cleared for harmonisation with SIMs.

On whether the government would block the SIMs of subscribers who don’t yet have their SIMs registered despite submitting their NINs to their service providers, the ALTON chairman said such SIMs would not be blocked.

  • If you already have your NIN and you have delivered the number to your service provider and it has been acknowledged and forwarded to NIMC, I don’t think the penalty will be there for you as from tomorrow (Tuesday) if your SIM has not been registered with the NIN.
  • “This is because as far as you are concerned as a subscriber, you have uploaded that number to your operator and forwarded to NIMC. Now, further interrogation of that means that you are not supposed to be penalised because you have done what you are required to do to your service provider and to NIMC.

Adebayo said the penalty would be mainly for those who do not have the NIN and who were unable to deliver their NINs to their service providers.

READ: FG announces mandatory NIN enrolment for foreign diplomats

What you should know

  • It can be recalled that the Federal Government had on December 15, 2020, directed the telecom operators to block subscribers who had not registered their SIMs with valid NINs by December 30, 2020.
  • Following a public outcry against the earlier announcement, the Federal Government extended the December 30, 2020 deadline to January 19, 2021, and also gave 6 weeks extension for subscribers without NIN from December 30, 2020 to February 9, 2021.
  • However, some Nigerians have called for a further deadline extension or outright suspension of the NIN registration process due to the large crowds who are yet to have their NINs amid the risk of contracting Covid-19.

Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

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Business

Osinbajo reveals what Nigerians in diaspora asked for to make more investments in the country

Osinbajo has disclosed that the Nigerians in diaspora seek an enabling business environment in order to make more investments.

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Solar, FG to slash import duties on tractors, buses, others in 2020 Finance Bill, Nigeria will not issue Eurobonds, says Vice President Yemi Osinbajo, FG guarantees mortgage loan to low income buyers at low interest rate, FG inaugurates gold refinery project in a landmark event

Nigeria’s Vice President, Yemi Osinbajo, has revealed that the Nigerians in diaspora asked for improvement in the enabling business environment in order to make more investments into Nigeria in specific engagements with investment opportunities.

This follows the conduct of a study by the Federal Government with stakeholders, which found out that many Nigerians have a keen interested in investing in the country.

This disclosure was made by Osinbajo while speaking at a webinar organized by Fidelity Bank Plc, entitled, ‘The New FX Policy, Implications and Positive Impact on Diaspora Investments’

Osinbajo, who was represented by the Executive Secretary/Chief Executive Officer of Nigerian Investment Promotion Commission (NIPC), Yewande Sadiku, commended the new CBN FX policy, ‘Naira 4 Dollar Scheme,’ an initiative aimed at incentivising senders and recipients of international money transfers, saying it would aid more investment from Nigerians living abroad.

What Nigeria’s Vice President is saying

Osinbajo pointed out that for several years, the remittances from Nigerians in diaspora exceeded Nigeria’s oil revenue, adding that the country is interested in finding out how to translate this potential to investments.

He said, “Nigerians in diaspora represent an indomitable force, they are flag bearers of Nigeria’s image, Nigeria entrepreneurial energy and Nigeria’s incredible can-do attitude. In business, politics, education, sports, entertainment, science, medicine, and arts, Nigerians have demonstrated across the world what Nigerians represent in Nigeria. We realise the role of the diaspora and the potential that they represent.

“For several years, the remittances from Nigerians in diaspora exceeded Nigeria’s oil revenues, which translated sometimes as high as six per cent of GDP. We are interested in understanding exactly how to translate this potential to investments.

“So, the office of the VP working with stakeholders, including NIPC, worked on a study and we found that many Nigerians, particularly first-generation males, have a keen interest in investing in their country.”

Going further, Osinbajo added, “We noticed that 70 per cent of remittances go into family support and only 30 per cent of the inflows go into investments and in that 30 per cent, a bulk of it goes into real-estate.

“But what Nigerians in the diaspora indicated would be useful for them is to undertake more investments into Nigeria in specific engagements that promote investment opportunities led by the private sector. From government, what they asked for was improvement in the enabling business environment.

“The effort of government in recent years has been on improving the business environment and initiatives, such as this, driven by the private sector, to attract investment from the diaspora is one of the key things they asked for,’’ he said.

The Vice President expressed delight with the new CBN policy that makes it easier for Nigerians in diaspora not just to transfer funds to Nigeria but to have greater control over the funds they transfer to Nigeria.

He said that he is confident that when statistics would be released, there would be a material impact on the diaspora remittances from Nigerians to Nigeria.

What you should know

  • It can be recalled that the CBN in an earlier circular dated March 5, 2021, stated its new forex policy initiative that all recipients of diaspora remittances through the apex bank’s licensed IMTOs shall henceforth be paid N5 for every $1 received as remittance inflow as an incentive.
  • This means for instance if an individual sends you $10,000, you will get an additional special credit alert of N50,000.
  • The new policy initiative which is with effect from Monday, March 8 and end on Saturday, May 8, 2021, states that this incentive is to be paid to recipients whether they choose to collect the US dollar as cash across the counter in a bank or transfer same into their domiciliary account. In effect, a typical recipient of diaspora remittances will at the point of collection, receive not only the USD sent from abroad but also the additional N5 per USD received.”

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BUA commences legal action over allegations of involvement in $20 million bribe scandal

BUA has urged stakeholders and the public to disregard malicious, baseless allegations circulating in some news media concerning its OML 110.

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Kabiru Rabiu, BUA Group

The management of BUA Group has commenced legal actions against parties involved in spreading spurious allegations of corruption and involvement in a $20 million bribe scandal.

The leading conglomerate revealed that the corruption allegations which were published by some Nigerian news channels allegedly attributed to a purported statement by Alhaji Ibrahim Mai Deribe and Cavendish Petroleum with respect to BUA’s OML 110 as false, defamatory, malicious and libellous.

According to the statement published by the management of BUA, the Group had been duly contacted by Cavendish Petroleum as well as the alleged writer of the statement, Alhaji Ibrahim Mai Deribe and both parties have told BUA on the record that neither Cavendish, the Mai Deribe Family nor any of its Executives put out such a malicious statement.

The Group noted that the statement was made with the clear intent to impugn the integrity and reputation of BUA Group and its Chairman, Alhaji Abdul Samad Rabiu.

BUA fingers Kainos MD as instigator of false allegations, commences legal action

An inhouse investigation conducted by the Group revealed that the source of the fraudulent news is Mr James Onyejekwe, the MD of Kainos Exploration and Production.

In reaction to this, BUA has therefore instructed its legal team to immediately commence criminal defamation proceedings against the MD of Kainos, the said originator of the malicious letter fraudulently attributed to Alhaji Ibrahim Mai Deribe, with damages.

The legal action will also extend to the online blog, blazenews.com.ng – which first published the unsubstantiated malicious news without a careful fact check in their duty of journalistic care, to confirm and clarify the source of such a weighty allegation.

The Group believes these actions are necessary, in order to protect the name and reputation of the manufacturing conglomerate, noting that there is no reason why Mr. James Onyejekwe of Kainos Exploration and Processing would single out BUA in a supposed business dispute which had no link to the BUA Group in its entirety.

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