Business

NIN-SIM Linkage: Airtel Laments Loss As 8.5m Customers Yet To Comply

Published

4 years ago

May 12, 2022

The Federal Government had ordered telecommunications operators including MTN, Globacom, Airtel, and 9mobile to bar all outgoing calls of all Subscriber Identification Module cards not yet linked with the National Identification Number effective from April 4, 2022.

However, telecommunications operator, Airtel Nigeria, has lamented revenue loss as about 8.5 million of its customers were yet to comply with the linkage.

Airtel Nigeria noted that only 35.9 million out of its 44.4 million active customers had linked their NIN with their SIMs as of the end of April 2022, about one month since the barring.

The PUNCH learnt that 8.5 million subscribers of Airtel had yet complied and were said to have been placed on ‘receive only’ status, meaning all their outgoing calls would not go through but would receive incoming calls.

Airtel Africa, the parent body of the Airtel Nigeria, made this known in its financial report for the year, ended March 2022.

Airtel noted that the number of its customers that were yet to link their NIN had affected its revenue for the year by 7 percent.

Airtel Africa report said, “As of the end of April 2022, we have collated NIN information for 35.9 million active customers. Outgoing voice revenues for those active subscribers who have not yet linked their NIN with their SIM amount to around 7 percent of total revenues from Nigeria, and around 3 percent of total revenues for the Group.

“However, our experience of adopting similar procedures in other countries suggests that SIM registration is accelerated, and some SIM consolidation is likely to occur in response to implementation, potentially reducing any financial impact.

“As of the end of the year, Airtel Nigeria had an active customer base of 44.4 million and posted revenue of $1.878 million. We continue to work closely with the regulator and impacted customers to help them to comply with the registration requirements, making every effort to minimise disruption and ensure affected customers can continue to benefit from full-service connectivity as soon as possible; in line with our aim to drive increased connectivity and digital inclusion across Nigeria.”

Business

Naira Records Depreciation Against US Dollar Across Official, Black Markets

Published

17 hours ago

December 2, 2025

Editor

The naira depreciated against the dollar at the official and parallel foreign exchange markets on Monday to begin the new month on a bearish note.

Central Bank of Nigeria’s data showed that the Naira weakened to N1,448.44 on Monday, down from N1,446.74 traded on Friday last week.

This means that the naira dropped by N1.7 against the dollar on Monday when compared to Friday.

Similarly, at the black market, the Naira declined by N5 to N1,475 on Monday from N1,470 at the close of work last week.

The development comes as Nigeria’s foreign reserves stood at $44.61 billion as of November 27th, 2025.

Business

NNPCL Revenue, Profit Soar To N5.08tn, N447bn In October

Published

4 days ago

November 29, 2025

Editor

The Nigerian National Petroleum Company Limited has announced a significant revenue increase to N5.078 trillion for October 2025.

The state-owned firm disclosed this in its monthly financial report released on Saturday.

According to the financial report, from N5.078 revenue in October, the company posted a N447 profit after tax.

The figure represents a significant 19.2 percent increase in revenue from N4.26 trillion and a 106 percent rise in PAT from N216 billion in September 2025.

The report stated that from January to September, NNPCL paid N11.150 trillion in statutory payments to the federation.

Four days ago, NNPCL posted a total of N45.1 trillion as total revenue for the 2024 financial year.

Business

NNPCL Reveals Reason Behind N5.4trn Profit After Tax

Published

4 days ago

November 29, 2025

Editor

The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, has explained that the state-owned firm’s N5.4 trillion profit after tax declaration in its 2024 financial statements indicates that the country has begun to reap the benefits of the Petroleum Industry Act.

He made this explanation in an interview released on NNPCL’s X account on Friday.

Recall that NNPCL declared a significant N5.4 trillion PAT from a total revenue of N45.1 trillion in 2024.

Reacting, Ojulari said the earnings result demonstrated the state-owned firm’s commitment to transparency.

“This earning is our first step in going out there to make ourselves more visible and demonstrate our commitment towards transparency. The profit of N5.4 trillion is quite significant. What that indicates is that we are beginning to reap the benefits of the Petroleum Industry Act.”

According to DAILY POST, since Ojulari’s appointment in April 2025, NNPCL has been consistent in making its monthly financial records public.