Business
NIN defaulters risk 14-year jail term, says minister
…no plans to lift ban on SIM registration
THE Federal Government has warned that those yet to obtain their National Identification Numbers risk seven or 14 years imprisonment as stipulated by the constitution.
Government also said there was no plan to lift the ban on new Subscriber Identification Module registrations any time soon for security reasons.
Already, the FG said as of March 31, 2021, only 51 million Nigerians had been authenticated for NIN.
Minister of Communications and Digital Economy, Dr Isa Pantami, who disclosed these at the sixth edition of the ministerial briefing organised by the Presidential Media Team, at the Presidential Villa, Abuja, said government had planned to ensure that in the next two years, the country will have a database.
He added that when it came to addressing the issue of security, the economy takes back stage. He also said it is an offence to pay taxes, have voters’ card or even pay pension without the NIN.
The minister said, “President Muhammadu Buhari gave priority to security because it is our number one primary responsibility as a government.
“The ban on SIM may affect our economy in some ways but when addressing the issue of security, the issue of economy is second because you have to protect your citizens before you talk of economy.
“The decision was taken in order to ensure that we contribute our quota in making our country safe and secure for all. We know it’s painful but it’s necessary.
“In September 2019, we did audit exercises and we allowed a process of auditing and the process of new SIM to go concurrently. We discovered that some of the agents doing the registration compromised the system badly to the extent that while we were doing audit exercise in 2019, they allowed people to come. “One person will be invited, he would be given a little amount of money, they will use his biometric to register a hundred cards online and get a passport to attach to it and they will complete the bio-data and the SIM will be activated.
“But as you know, criminals, whether bandits or terrorists, always exploit this SIM and we don’t want to allow our platform for perpetration of criminality in our country.
“This is one of the most difficult decisions taken as a minister. It is a very painful decision but we had to take it.”
Pantami also put the number of SIM card subscribers linked to NIN at over 150 million, adding, however, that enrollment of NIN was 51 million as at March 31, 2021.
“So what we are doing now is matching all the SIMs with NIN; this has become necessary for security purposes,” he said.
He explained that while 150 million completed registration, the remainder had problems of improper registration.
Pantami further stated that while obtaining a SIM card might be optional, NIN is mandatory, citing Section 27 of the NIMC Act of 2007.
He said it is a criminal offense in Nigeria to carry out business activities without first acquiring the NIN number.
He said, “The NIMC Act, clause 27 states that you need the NIN number for opening bank accounts, for insurance, land transactions, voters registration, drivers licenses.
“So, it is an offense to transact any business activity without first having your NIN.”
He said the number of enrolment centres had doubled; while number of computers had been tripled, adding that NIN will determine the number of Nigerians that had registered because of the unique number.
Pantami further noted that the cost of data provided by telecommunications companies had been halved since last year from about N1,200 per gigabyte to leas than N500 at present.
He, however, blamed some state governors for the high cost of data production by inflating the charges telecommunication firms pay state governments for right of way in installing their cables.
“Some states charge as high as N60,000 per linear metre, whereas it should not ordinarily be more than N145,” he said.
The minister said he had engaged the governors through the Nigeria Governors Forum and pleaded with Vice-President Yemi Osinbajo to intervene in the matter.
According to him, if the anomaly is corrected fully, GSM and telecom firms will charge cheaper for data.
Railway
Lagos Rail Mass Transit part of FG free train ride – NRC
Lagos Rail Mass Transit part of FG free train ride – NRC
The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.
The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).
This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.
While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.
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Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.
“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.
Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.
He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.
Lagos Rail Mass Transit part of FG free train ride – NRC
Business
NNPC denies claim of Port Harcourt refinery shutdown
NNPC denies claim of Port Harcourt refinery shutdown
The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.
The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.
Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.
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The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.
“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”
He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”
NNPC denies claim of Port Harcourt refinery shutdown
Business
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period.
The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department.
The arrangement will be in effect from December 19, 2024, to January 30, 2025.
Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.
Transactions to occur at the prevailing NFEM rate
The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.
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All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department.
The circular read in part:
“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).
This window will be open between December 19, 2024 to January 30, 2025.
“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.”
The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”
These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.
This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
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