Business
FG approves banks to issue NIN Card to Nigerians
FG approves banks to issue NIN Card to Nigerians
The Federal Government says Nigerians can now request their commercial banks to issue them with a debit card which doubles as their National Identity Card at no extra cost.
Minister of Communications and Digital Economy, Prof Isa Pantami, who disclosed this on Wednesday in Abuja, said the approval was obtained at the meeting of the Federal Executive Council (FEC).
The meeting was presided over by President Muhammadu Buhari at the Presidential Villa, Abuja.
He explained that the approval followed a memo from the National Identity Management Commission (NIMC) allowing banks to print a multipurpose debit cards that double as National identity cards.
He said: ”It is going to be a form of multipurpose card where it will serve as your national identity card on one hand and also your bank card on the other hand, either Mastercard, Visa or any other kind of card.”
According to Pantami, although the NIMC Act 2007 only mandates Nigerians to have a National Identity Number and not necessarily a printout card, demands for cards have swelled nonetheless.
“As in the NIMC Act 2007, section 27, what is mandatory for our citizens and legal residents is the acquiring of the National Identity Number, not the card. However, the card is optional.
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“But many citizens, particularly those living in rural communities, always go to NIMC offices complaining that they need the card at hand, even though it’s optional.
“To make it easier, NIMC last year, we introduced a smart ID card you can download from NIMC app. It is just a smart card. You don’t need to have it physically, but that is becoming difficult for our people living in rural communities.”
To ease the difficulty, Pantami said NIMC had partnered with the Central Bank of Nigeria ”so that citizens who are interested in having a card at hand can easily go to the relevant banks.”
According to him, the bank is permitted to print the card along with either Mastercard or Visa card.
”It is going to be a form of multipurpose card that will serve as your national identity card on one hand and also your bank card on the other. And based on the agreement, it is without any additional costs on our citizens.
“So when you apply for a card at your bank, you can indicate that ‘I want this card to be multiple purpose where it will serve as my bank card and also my national identity card’.
”Both of them are going to be printed on the same card and it is going to serve the same purposes without any additional costs,”
The Minister disclosed that NIMC and the CBN signed a nondisclosure agreement to protect the privacy and confidentiality of card applicants.
“NIMC and the central bank signed a nondisclosure agreement where your privacy and your confidentiality must be respected in the course of providing the card for you.
“When you apply for the card, the bank will apply online to NIMC through their database.
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”When they verify and confirm that your record in the database is in alignment with your record in NIMC database, it will be permitted and the card is going to be printed for you immediately,” the minister added.
The Minister also said that FEC also approved a memo proposing the deployment of an automated system to integrate NINs with individual SIM cards.
The system, he noted, would consolidate the implementation of the NIN-SIM linkage.
He said “As we all know that previous administrations made efforts to verify NIN and SIM starting from 2011 without success.
”In February 2020, President Muhammadu Buhari approved the implementation of the policy and the revised version of the policy was also launched and unveiled by Mr. President on May 6, 2021.
“As it stands today, the NIN and SIM policy registration is being implemented. In order to consolidate the implementation.
“The Nigerian Communications Commission came up with a proposal that will enhance the implementation of the policy and bring many more benefits to it.”
Pantami said the automated system would sanitise the database and ease the process of SIM replacement for Nigerians or legal residents.
platinumpost
Business
MTN, Airtel to share network infrastructure in Nigeria
MTN, Airtel to share network infrastructure in Nigeria
Airtel Africa has partnered with MTN Group to expand digital inclusion by sharing network infrastructure in Uganda and Nigeria.
In a statement in Lagos on Wednesday, Airtel said the sharing agreements aim to improve network cost efficiencies, expand coverage, and provide enhanced mobile services to millions of customers.
A sharing agreement is a formal arrangement between two or more parties to share resources, assets, or services.
According to the telecommunications company, the partnership will benefit customers in remote and rural areas who do not yet fully enjoy the benefits of a modern connected life.
Airtel assured that both parties will ensure the agreement complied with local regulatory and statutory requirements.
Sunil Taldar, chief executive officer (CEO) of Airtel Africa, said telecommunications companies are driving digital financial inclusion by building common infrastructure within the regulatory framework.
Taldar noted that the collaborative approach not only advances digital transformation and financial inclusion but also reduces the duplication of expensive infrastructure.
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As a result, Taldar said operational efficiencies are boosted, ultimately benefiting customers.
He further said telecoms continue to compete fiercely in the market, differentiating themselves through their brand, services, and offerings.
“The initiative is part of a growing global trend toward network sharing. By collaborating, telecoms operators can explore innovative and pro-competitive solutions to improve service quality while managing costs more effectively,” Taldar said.
“The sharing of infrastructure has the potential to enable the delivery of world-class, reliable mobile services to more and more customers across Africa.”
Taldar added that following the conclusion of agreements in Uganda and Nigeria, MTN and Airtel Africa are also exploring various opportunities in other markets, including Congo-Brazzaville, Rwanda, and Zambia.
Ralph Mupita, MTN Group CEO, said there is a need to invest in coverage and capacity to ensure high-quality connectivity to meet customers’ increasing demands.
“As MTN, we are driven by the vision of delivering digital solutions that drive Africa’s progress,” Mupita said.
“We continue to see strong structural demand for digital and financial services across our markets.
“To meet this demand, we continue to invest in coverage and capacity to ensure high-quality connectivity for our customers.”
Mupita added that there are opportunities within regulatory frameworks for sharing resources to drive higher efficiencies and improve returns.
MTN, Airtel to share network infrastructure in Nigeria
Business
NNPCL in historic initial public offer, ready for capital market
NNPCL in historic initial public offer, ready for capital market
The Nigerian National Petroleum Company Limited (NNPCL) has announced that it is in the final stages of preparation for its much-anticipated listing on the capital market, in line with the provisions of the Petroleum Industry Act (PIA) 2021.
The company’s Chief Corporate Communications Officer, Olufemi Soneye, disclosed this in a statement on Thursday in Abuja.
According to the statement, the Chief Finance and Investor Relations Officer, Olugbenga Oluwaniyi, revealed the development during a consultative meeting with partners at the NNPC headquarters.
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He stated that NNPCL is currently engaging with potential investors through an exercise called the “NNPC Ltd. IPO Beauty Parade,” which aligns with capital market regulations ahead of its Initial Public Offer (IPO).
“According to the CFIO, the aim of the IPO Beauty Parade is to access potential partners and determine in what ways they could be of support to the company,” the statement explained.
The statement further highlighted that NNPCL is seeking partnerships in three key areas: Investor Relations, IPO Readiness Advisors, and Investment Banking Partners. Companies with the most competitive offers will be selected for each category.
An IPO is a public offering in which a company’s shares are sold to institutional investors. Under the PIA, NNPCL is required to list its shares on the capital market in compliance with the Companies and Allied Matters Act (CAMA) 1990.
NNPCL in historic initial public offer, ready for capital market
Business
Naira rises to N1,560/$ in parallel market
Naira rises to N1,560/$ in parallel market
The Naira yesterday appreciated to N1, 560 per dollar in the parallel market from N1,570 per dollar on Wednesday. But the Naira depreciated to N1,540 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,540 per dollar from N1,539 per dollar on Wednesday, indicating N1 depreciation for the naira.
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