Business

NIN-SIM linkage: Telcos Lost 12 Million Internet Subscribers In 2021 – NCC

Published

1 year ago

March 11, 2023

Editor

The Nigerian Communications Commission, on Friday, said telecommunication companies lost a total of 12 million internet subscribers in 2021 due to the national identification number linkage policy.

NCC made this known in its latest report titled, “2021 subscriber/network data annual report.”

It said the number of internet subscribers decreased from 154,301,195 subscriptions as of December 2020 to 141,971,560 subscriptions as of December 2021 representing a decline of 8 per cent.

This, according to the report, was due to the directive to suspend the sales and registration of new SIMs across the country.

Recall, in December 2020, NCC had given telecommunications companies a two-week ultimatum to block SIM cards not registered with National Identification Number.

The Federal Government later extended the deadline from December 2020 to January 2021 to enable subscribers with NIN to link it up; while those without NIN had till February 9, 2021.

The NCC report said subscriber number decreased from 204,601,313 subscribers in 2020 to 195,463,898 active voice subscriptions as of December 2021 “with a loss of 9,137,415 subscriptions”.

“This represents about 4.46 per cent decline in total subscription within the period under consideration,” it added.

“The decrease in operators’ subscriber base was attributed majorly to the effect of the directive from NCC in December 2020 to all GSM operators to suspend the sale and registration of new SIMS, SIM swaps and all porting activities.

“The objective of the audit exercise was to verify and ensure compliance by mobile network operators with the set quality standards and requirements of SIM card registration as issued by the federal ministry of communications and digital economy and the commission.”

“Nigeria’s teledensity decreased from 107.18 per cent as of December 2020 to 102.40 per cent by December 31 2021,” the report said.

In the period under review, the commission said broadband penetration also decreased from 45.02 per cent as of December 2020 to 40.88 per cent as of December 2021.

Similarly, broadband subscriptions decreased from 85,941,222 subscriptions in December 2020 to 78,041,883 subscriptions as of December 2021.

On the level of data usage, the NCC said, “There was an increase in the volume of data consumed in the year-end December 2021 when compared with the year ended December 2020”.

“The total volume of data consumed by subscribers increased to 353,118.89 terabytes as of December 2021 from 209,917.40TB as of December 2020. This represents an increase of 68.2 per cent in data consumption within the period.”

It added that the telecoms industry contribution to the gross domestic products was 12.45 per cent in the fourth quarter, of 2020 compared to 12.61 per cent in Q4 of 2021.

Business

Naira Slumps, Exchanges At Over N1,500 Against Dollar

Published

2 days ago

May 13, 2024

Editor

The naira continued its depreciation against the US dollar in the foreign exchange market.

Data from the parallel market section and FMDQ showed further depreciation against the dollar on Monday.

At the parallel market, a Bureau De Change operator in Wuse Zone 4, Mistila Dayyabu, told DAILY POST that the naira was sold as high as N1,517 per dollar on Monday before settling at N1,500 per dollar.

“On Monday morning, the dollar was sold at N1,517 per dollar. However, on hearing the information about the coming of the Economic and Financial Crimes Commission operatives, we started selling at N1,500 this evening, ” he said.

The figure increased from the N1, 450 per dollar it traded at the weekend.

Similarly, at the official market, FMDQ data showed that they dipped to N1478.11 per dollar on Monday from N1466.31 last Friday.

This represents an N11.8 drop from the N1466.31 recorded last Friday.

Earlier, the Central Bank of Nigeria Governor, Olayemi Cardoso, said the apex bank’s Monetary Policy Committee will do everything to bring down soaring Nigeria’s inflation, which stood at 33.22 per cent in March 2024.

Business

CAC Opens Centre For Registration Of PoS Operators

Published

7 days ago

May 9, 2024

Editor

The Corporate Affairs Commission has inaugurated a centre for bulk registration of Point of Sale operators in its database.

The CAC Registrar-General, Hussaini Magaji, said this while inaugurating the centre stationed at its Federal Capital Territory Office in Abuja on Wednesday.

According to Magaji, the importance of registering the PoS operators in the commission’s database cannot be over emphasised.

He said the centre was well equipped with all the necessary facilities to operate 24 hours a day and ensure the commission’s achievement of its purpose.

“What we did was accommodate the request from the Fintechs.

“We have allowed them to integrate with the Corporate Affairs Commission; they have developed their structure, and we gave them access.

“Once they supply the necessary details for registration on their platform, the certificate is generally generated and transmitted directly to their platform without them having to contact anyone.

“We have done this to ensure that everyone gets it easy without hitches, but if they choose to apply manually, we have a secretariat open for them to do so,” he stated.

Recall that the Federal Government through the CAC on Tuesday issued a two-month registration deadline to Point of Sales companies, to register their agents, merchants, and individuals with the commission in line with legal requirements and the directives of the Central Bank of Nigeria.

Meanwhile, at the event, the registrar-general reiterated that the centre would be opened to all operators in the fintech industry who voluntarily submitted their agents and merchants for regularisation with the CAC.

Magaji said that the registration was in line with President Bola Tinubu’s desire to ensure financial inclusion for the youth and strengthen the fight against fraud, finance and other crimes in the country.

He further expressed his resolve to ensure compliance with the provisions of Section 863 (1) of the Companies and Allied Matters, CAMA 2020, and the CBN guidelines for Agent Banking, 2013.

On security, the CAC boss said that if a crime were committed using the PoS, the government would easily trace the perpetrators to the CAC data platform if such machines were registered.

“If an incident happens and they report it to CAC, if we do not have the operator’s details, we cannot respond, and that is the essence of this registration.

“The registration ensures that every detail of the person is provided, including NIN, passport photograph and all other useful documents.

“And it is an opportunity for more people to be captured into the formal sector,” he said.

The News Agency of Nigeria reports that the Special Adviser to the President on ICT Development and Innovation, Tokoni Peter attended the event.

The event was attended by Dr Salihu Dasuki, the Special Adviser to the President on ICT Policy Office, the PoS operators, and other stakeholders.

(NAN)

Business

FULL LIST: CBN Publishes List Of Licensed Deposit Money Banks

Published

1 week ago

May 8, 2024

Editor

The Central Bank of Nigeria has released a comprehensive list of licensed Deposit Money Banks operating within the country.

The list, which was made public on the CBN’s official website on Tuesday, provides insights into the banking landscape in Nigeria.

Banks with international authorisation include Access Bank Limited, Fidelity Bank Plc, First City Monument Bank Limited, First Bank Nigeria Limited, Guaranty Trust Bank Limited, United Bank of Africa Plc, and Zenith Bank Plc.

Commercial banks with national authorisation include Citibank Nigeria Limited, Ecobank Nigeria Limited, Heritage Bank Plc, Globus Bank Limited, Keystone Bank Limited, Polaris Bank Limited, Stanbic IBTC Bank Limited, Standard Chartered Bank Limited, Sterling Bank Limited, Titan Trust Bank Limited, Union Bank of Nigeria Plc, Unity Bank Plc, Wema Bank Plc, Premium Trust Bank Limited and Optimus Bank Limited.

Commercial banks with regional licenses are Providus Bank Limited, Parallex Bank Limited, Suntrust Bank Nigeria Limited, and Signature Bank Limited.

Players in the non-interest banking sector with national authorisation include Jaiz Bank Plc, Taj Bank Limited, Lotus Bank Limited, and Alternative Bank Limited.

In the merchant banking category, the apex banks listed, are Coronation Merchant Bank Limited, FBN Merchant Bank Limited, FSDH Merchant Bank Limited, Greenwich Merchant Bank Limited, Nova Merchant Bank Limited, and Rand Merchant Bank Limited.

The financial holding companies listed were Access Holdings Plc, FBN Holdings Plc, FCMB Group Plc, FSDH Holding Company Limited, Guaranty Trust Holding Company Plc, Stanbic IBTC Holdings Plc, and Sterling Financial Holdings Limited.

The Mauritius Commercial Bank Representative Office (Nigeria) Limited was listed as the sole representative office.