FG extends NIN-SIM linkage deadline till Oct 31 – Newstrends
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FG extends NIN-SIM linkage deadline till Oct 31

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The Federal Government has again approved the extension of the deadline for NIN-SIM data verification to October 31, the sixth extension since December last year.

A joint statement by the Nigerian Communications Commission and the National Identity Management Commission on Sunday said the decision to extend the deadline was made following a request by stakeholders to accommodate registration in hard-to-reach remote areas, foreigners and diplomatic missions and Nigerians in diaspora.
The statement signed by NCC’s Director of Public Affairs Ikechukwu Adinde and NIMC Head of Media Kayode Adegoke also said the extension would address low enrolments in schools and hospitals, as evidenced by enrolment statistics.

“It also followed a review of the progress of the exercise which indicated significant progress hence the need to consolidate the gains of the enrolment and NIN-SIM verification process across the country”, the officials said.

As at Saturday 24 July, Adinde and Adegoke said, there are over 5,500 enrolment systems within and outside the country “and this would significantly ease the NIN enrolment process and subsequent linkage of NIN to SIM.”
They said President Muhammadu Buhari has approved the extension as part of efforts to make it easier for Nigerians within and outside the country, and legal residents to obtain the NIN.
The statement urged Nigerians to take advantage of the extension to avoid their mobile lines from being blocked after the expiration of the exercise.

It said: “The NIN-SIM linkage also makes it easier for the security agencies to carry out their statutory duties and the relevant parastatals under the Ministry of Communications and Digital Economy are supporting them as required.”The statement by Adinde and Adegoke also revealed that there are now a total of 59.8 million unique NIN enrolments, with average of 3 to 4 SIMs per NIN.

” With the great number of enrolment centres within and outside the country, and many more coming up, every citizen, legal resident, and Nigerian citizens living in diaspora should be able to obtain their NINs,” they said.

The statement quoted the Minister of Communications and Digital Economy, Isa Ali Ibrahim Pantami as commending the Kano State government and other states that have made NINs a key requirement for school enrolments and access to other important services.

It added: ” The Federal Government is also excited at the news that the use of NIN in the process of the Joint Admissions and Matriculation Board (JAMB) exam significantly reduced the challenge of exam malpractice.

states that have made NINs a key requirement for school enrolments and access to other important services.
It added, ” The Federal Government is also excited at the news that the use of NIN in the process of the Joint Admissions and Matriculation Board (JAMB) exam significantly reduced the challenge of exam malpractice.

The minister, on behalf of the Federal Government, appreciates Nigerians for their patience and compliance with the Federal Government’s directive on the NIN-SIM registration exercise. Similarly, the Executive Vice Chairman of the Nigerian Communications Commission, Prof Umar Garba Dambatta, and the Director-General/CEO of that National Identity Management Commission, Engr Aliyu Azeez, urge citizens and legal residents to make sure they use the opportunity to complete the process of enrolment and verification before the October 31st deadline.”

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Tinubu orders creation of single-digit tax system

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Tinubu orders creation of single-digit tax system

President Bola Tinubu has directed a creation of a single-digit tax system with a maximum of nine taxes for a company or an individual.

Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, disclosed this in Abuja while speaking with the management team of Guinness Nigeria who paid him a visit.

A statement on Wednesday by Dare Adekanmbi, Special Adviser on Media to the FIRS chairman, quoted Adedeji as saying, “The President gave a directive that he wants a single-digit tax in the country, meaning that the maximum number of taxes we will have after the work of the Presidential Committee on Fiscal Policy and Tax Reforms will be nine taxes.”

The statement added that the plan was aimed at having a conducive environment “created for businesses to flourish and grow the economy.”

 

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Naira gains further against dollar

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Naira gains further against dollar

The Naira rose further in the official market on Tuesday, trading at N1,382.95 to the dollar.

According to data from the FMDQ’s official trading portal, the Naira rose by N25.09, or 1.78 percent, from the previous day’s rate of N1,408 versus the dollar.

On Tuesday, total turnover was $245.58 million, up from $222.15 million on Monday.

Meanwhile, at the Investor’s and Exporters (I&E) window, the Naira traded between N1,486 and N1,300 against the dollar.

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The News Agency of Nigeria (NAN) reports that the Central Bank of Nigeria (CBN) had, earlier on Tuesday at its 294th Monetary Policy Committee (MPC), raised Monetary Policy Rate (MPR) by 200 basis points from 22.75 per cent to 24.75 per cent.

CBN governor Yemi Cardoso said that was meant to tackle the nation’s rising inflation.

Naira gains further against dollar

(NAN)

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CBN jacks up interest rate amid soaring inflation

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CBN jacks up interest rate amid soaring inflation

The Central Bank of Nigeria (CBN) on Tuesday raised the interest rate from 22.75 per cent to 24.75 per cent amid soaring inflation.

Governor of the central bank, Olayemi Cardoso, made this known after the two-day Monetary Policy Committee (MPC) meeting held on Monday and Tuesday.

The country’s latest annual inflation rate jumped to 31.70 per cent from 29.90 per cent for last month, fueled by a continuous rise in food prices.

Cardoso disclosed that the MPC voted to adjust the asymmetric corridor around the MPR at +100 to -300 basis points.

He said the committee voted to retain the Cash Reserve Ratio (CRR) at 45 per cent for commercial banks and adjust the CRR of merchant banks from 10 per cent to 14 per cent.

The committee also voted to retain the liquidity at 30 per cent.

He said, “Members noted the continued rise in headline inflation driven largely by food prices, because of supply shortages, and high cost of Logistics and Distribution.

“The committee, therefore, was of the view that addressing food insecurity is key to containing current inflationary pressures.”

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