Business
‘SIM Card Registration, Major Exercise In Telecoms’
The registration of the Subscriber Identification Module (SIM) cards by the NCC was one of major developments in the telecoms industry in 2011.
The NCC registration exercise started immediately after the conclusion of individual service providers’ registration of the SIM cards. The SIM registration by the service providers started in 2010 and ended in 2011.
The NCC registration was officially flagged off by the Executive Vice Chairman (EVC) of the NCC, Dr. Eugene Juwah, on March 28, 2011.
Juwah said that the involvement of NCC in the project was to ensure that the registration project achieved the primary goal of checking crime rates in the country.
He said that the NCC registration was significant as the nation had been waiting for the day when all the SIM cards being used in the country would be registered.
The NCC EVC also said that the project would enable the country to have a central data base for all mobile phone users in Nigeria.
He said that NCC would bequeath to the nation a pool of data that would assist other agencies of government, especially the security agencies and the National Identity Management Commission.
“Although challenges are not unexpected in an exercise of this nature, we will make every effort to minimise and overcome such challenges as they occur.
“We currently have over 89 million active lines in the national telecoms network and after six months from today, all these lines are expected to be registered.
“The registration exercise will last for a period of six months,’’ Juwah said.
He called on users of mobile phones in Nigeria to register their SIM cards with NCC appointed SIM card registration agents nationwide.
“No Nigerian or visitor to Nigeria, using mobile phones, is exempted from this exercise.
“At the end of the six months of this registration, all unregistered SIM cards will be disconnected from the various networks,’’ the NCC’s chief said.
The NCC directed that proxies could register the SIM cards of their minors or elderly persons.
Executive Commissioner, Stakeholder Management in the NCC, Mr Okechukwu Itanyi, said that the gesture was allowed where such dependents could not come out physically to register.
“A dependable relation can register on behalf of a subscriber, which means that the photograph and biometrics of such relation would be taken in place of the phone owner,’’ Itanyi said.
He said that the decision of the commission to allow for proxy registration was to ensure that no SIM card user was left out of the exercise.
At the end of the six months provided for the registration exercise on September 28, the NCC announced an extension of the exercise.
Muoka said that the extension was to provide time for the harmonisation of the data collected during the six months period.
“While the Commission commends all telephone subscribers who were able to register their lines within the six months schedule for the registration, a new window of opportunity is now open for those who have not yet registered their SIM cards to do so within the limited period of the harmonisation exercise.
“This limited period, provides the last chance for all users of existing SIM cards to register as all unregistered SIM cards will be promptly disconnected without further notice at the conclusion of the harmonisation exercise,’’ he said.
Mouka said that the Commission was fully aware of the clamour by interested stakeholders for extension of the period.
The Chairman of the Association of Licensed Telecoms Operators of Nigeria (ALTON),
Mr Gbenga Adebayo, said that service providers asked for extension and NCC granted it.
Adebayo said that NCC was in a better position to tell how long the harmonisation period would take because they were the custodian of the data.
“We hope that in no time, we can harmonise these data and conclude the exercise,’’ he said.
Director of Customer Care at Globacom, Maria Svensson, said that although the operators wanted an extension of the registration period, that there was need for a specific date to be given.
Svensson said that subscribers’ enthusiasm to the exercise had waned as they had the feeling that there was no definite deadline.
The President of the National Association of Telecoms Subscribers (NATCOMS),
Chief Deolu Ogunbanjo, said it was wrong for NCC to allow indefinite registration of SIM cards among subscribers and the registering telecoms operators.
According to him, the suspected indefinite extension will not help NCC achieve its mandate on SIM registration.
The NATCOMS President called on NCC to fix a time frame for the harmonisation of data to enable Nigerians have a clear understanding as to when the registration would end.
The Central Bank of Nigeria (CBN) yesterday said 33 banks have met new minimum capital requirements under its recapitalisation programme, raising a combined N4.65 trillion to strengthen the financial system.
The apex bank disclosed this in a statement marking the end of the exercise, which commenced in March 2024 and drew participation from domestic and foreign investors.
The statement was jointly signed by the Director of Banking Supervision, Olubukola Akinwunmi, and the Acting Director of Corporate Communications, Hakama Sidi-Ali.
The statement said “Over the 24-month period, Nigerian banks raised a total of N4.65tn in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.”
The regulator said local investors accounted for 72.55 per cent of the funds, while international investors contributed 27.45 per cent, reflecting continued confidence in the sector.
Commenting on the outcome, the CBN Governor, Olayemi Cardoso, said in the statement, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
It added that while 33 banks have complied with the new thresholds, a few others are still undergoing regulatory and legal processes.
The statement noted, “The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme.
“A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
“All banks remain fully operational, ensuring continued access to banking services for customers.”
The apex bank stressed that the exercise was executed without disrupting banking operations, ensuring uninterrupted access to services nationwide.
It further stated that key prudential indicators have improved, particularly capital adequacy ratios, which remain above global Basel benchmarks.
The minimum ratios were set at 10 per cent for regional and national banks and 15 per cent for banks with international licences.
The bank also said the recapitalisation coincided with a gradual exit from regulatory forbearance, a move it said improved asset quality, strengthened balance sheet transparency, and enhanced overall stability.
To preserve these gains, the CBN said it has reinforced its risk-based supervision framework, mandating periodic stress tests and adequate capital buffers for banks.
It added that supervisory and prudential guidelines would be reviewed regularly to strengthen governance, risk management, and resilience across the sector.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the statement said.
The Tide learnt that foreign capital inflows into Nigeria’s banking sector rose by 93.25 per cent year-on-year to $13.53bn in 2025, up from $7.00bn recorded in 2024, amid the ongoing recapitalisation drive by the Central Bank of Nigeria.
Data from the National Bureau of Statistics capital importation report showed that the banking sector remained the dominant destination for foreign capital, accounting for $13.53bn of the total $23.22bn recorded in 2025, representing 58.26 per cent of total inflows, up from 56.81 per cent in 2024.
The surge reflects heightened investor interest in Nigerian banks as they raised fresh capital to meet new regulatory thresholds introduced by the apex bank, with industry-wide recapitalisation activities driving large-scale inflows across all quarters of the year.
However, the Centre for the Promotion of Private Enterprise (CPPE) recently raised concerns over weak credit flows to small businesses despite recent banking sector reforms.
The CPPE, led by a renowned economist, Dr Muda Yusuf, acknowledged that the ongoing bank recapitalisation exercise by the CBN has strengthened the financial system, but warned that the benefits have yet to translate into meaningful support for the real economy.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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