Economy
Mobile Operators Link 47.8 million NINs to Subscribers’ SIM Cards
By Dipo Olowookere
A total of 47.8 million National Identification Numbers (NINs) of telecommunications subscribers have been linked to SIM cards in the country.
This information was revealed by the National Communications Commission (NCC), which directed mobile operators in Nigeria to disconnect any subscriber that fails to link his mobile number to NIN by Tuesday, January 19, 2021.
On December 15, 2020, the agency, which regulates the telecommunications industry in Nigeria, ordered telcos to remove subscribers that fail to synchronise their numbers with the NIN by December 30, 2020.
However, after an outcry from Nigerians, the deadline was shifted to today for those already with the NINs, while those without the NINs were asked to obtain theirs and submit to their network providers on or before Tuesday, February 9, 2021.
In a statement on Tuesday afternoon, the Director of Public Affairs at the NCC, Dr Ikechukwu Adinde, disclosed that at the end of a review meeting held on Monday, January 18, 2021, the Technical Implementation Committee under the Ministerial Task Force said there has been a “significant progress” in linkage exercise.
“So far, a total of 47.8 million NINs have been collected by the mobile operators. At an average of three to four SIMs per subscriber, this means many millions will be linked up before the deadline in February 2021,” a part of the statement disclosed.
However, the statement said those who were yet to obtain their NINs for linkage with their SIM cards should urgently do so “before [the] February 9, 2021, deadline.”
It was disclosed that the linkage can be done seamlessly through a mobile application developed by the federal government. The statement said this app can allow subscribers to link up to a maximum of seven SIMs to their NIN from the comfort of their homes/offices.
Meanwhile, the Minister of Communications and Digital Economy, Dr Isa Ali Pantami, has advised Nigerians to The Minister concluded by reminding Nigerians to secure and protect their NINs, urging subscribers to properly guard their NINs.
He advised holders of the NINs not to sell or allow others to use them for registration, emphasising that, “For any [act] committed with the SIM, good or bad, it will be officially traced and attached to the NIN owner.”
This warning comes after the Economic and Financial Crimes Commission (EFCC) raised an alarm that some persons were buying and selling NINs.
“The EFCC wishes to alert Nigerians that it is not only illegal to sell their NIN, but they also stand the risk of vicarious liability for any act of criminality linked to their NIN.
“In other words, they risk arrest and prosecution for any act of criminality linked to their NIN whether or not they are directly responsible for such crimes,” the anti-graft agency had warned on January 7, 2021.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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