Business

NIN Enrollment: Telecom Operators Get NIMC Enrolment Licences

Published

5 years ago

December 24, 2020

Mobile network operators (MNOs) on Wednesday says they have received enrollment and verification licences from the Federal Government.

The development followed the stampede that was witnessed at the registration centres of the National Identity Management Commission (NIMC) across the country earlier this week.

Communications and Digital Economy Minister, Dr Ibrahim Pantami, had directed the MNOs to deactivate SIMs not linked with NINs and threatened hefty sanctions to non-complaint operators including withdrawal of operating licence.

Acting under the aegis of the Association of Licensed Telecoms Operators of Nigeria (ALTON), the group said it will continue to work with the Federal Government to ensure the success of the directive to deactivate subscriber identity modules (SIMs) not linked with their owners National Identity Number (NIN).

Its spokesman, Kayode Adegoke, said, “NIMC would like to assure the public that there have been no such breaches or incidents. Investigations on the alleged data dump were found to be non-existent in the National Identity Database.

NIMC on Wednesday dismissed as fake, news that its data base had been breached by hackers.

He said, “The Commission investigated the data breach claim and found out that the database schema presented by the adversary does not tally with the existing schema of NIMC records. The data being posted by criminals purporting to contain citizens’ information is fake.

“The NIMC guarantees the security of the National Identity Database through various layers of security and can assure that no data was breached.

“The members of the general public are, therefore, enjoined to refrain from spreading false reports on the purported data breach.”

(NATION)

Business

JUST IN: Otedola Sells Shares In Geregu Power For N1trn

Published

15 hours ago

December 29, 2025

Editor

Billionaire businessman, Femi Otedola, has sold his majority stake in Geregu Power Plc for N1.088 trillion in a deal financed by a consortium of banks led by Zenith Bank Plc.

The Nigerian Exchange, NGX, made this announcement on Monday.

Otedola’s Amperion Power Distribution Company Ltd reportedly held nearly 80 percent of the power generating company.

With this new development, Otedola, Chairman of First Holdco Ltd, parent company of First Bank of Nigeria Plc, will reportedly now concentrate on expanding his interest in the Nigerian banking sector, although he still retains some shares in Geregu.

Otedola is said to currently own 17.01 percent of First Bank — its single largest shareholder since the bank was established in 1894.

Business

Fuel Price Cut: NNPCL GCEO Ojulari Reveals Biggest Beneficiaries

Published

20 hours ago

December 29, 2025

Editor

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has said Nigerians are the biggest beneficiaries of the ongoing fuel price reductions, triggered by competition in the downstream oil sector.

Ojulari made the remarks on Sunday while speaking with journalists after briefing President Bola Tinubu in Lagos.

He described the current fluctuations in petrol prices as a natural outcome of Nigeria’s transition away from dependence on fuel imports.

According to him, increased competition in the market ultimately favors consumers, adding that the present volatility will ease over time.

“Where there is healthy competition, the buyers are the ultimate beneficiaries. We should also bear in mind that the market will stabilise,” Ojulari said. “There may be some tension along the way because we are undergoing a major transition.”

His comments come amid an ongoing fuel price war that has resulted in successive reductions at petrol stations across the country in recent weeks.

Earlier in December 2025, Dangote Refinery cut its gantry price to about N699 per litre. Following this move, MRS filling stations, NNPCL outlets, and other marketers reduced pump prices to between N739 and N901 per litre in Abuja.

Business

Naira Records Massive Appreciation Against US Dollar Into Christmas Holidays

Published

3 days ago

December 27, 2025

Editor

The Naira gained massively against the United States dollar in the last three days at the official foreign exchange as trading ended for the Christmas holidays.

Central Bank of Nigeria data showed that the Naira strengthened further on Wednesday to N1,443.37 per dollar, up from N1,449.99 on Tuesday.

This means that since Monday this week, the Naira has recorded a significant N13.18 gain against the dollar, according to the apex bank data.

Similarly, at the black market, the Naira traded on Wednesday at N1,490 per dollar, an appreciation from the N1,500 exchanged on Monday but the same rate as on Tuesday.

The uptrend comes amid the rise in the country’s external reserves to $45.24 as of December 23rd, 2025.

DAILY POST reports that the Naira gained against the dollar at the official market on Monday and Tuesday.