Business
Again, FG Extends NIN-SIM Linkage Deadline
For the umpteenth time, the Federal Government has approved extension of the deadline for the National Identity Number-Subscriber Identity Module (NIN-SIM) data verification/linkage.
The government also disclosed that 66 million NIN have been issued since the directive to link NIN to SIM began in January, this year.
The Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami, conveyed the approval in a joint statement by Director, Public Affairs, Nigerian Communications Commission, and Head, Corporate Comm-unications, National Identity Management Commission, Mr. Kayode Adegoke at the weekend.
He urged citizens and legal residents to endeavour to complete the process before the end of the year 2021.
It would be recalled that the Federal Government had earlier extended the deadline for NIN-SIM linkage for five times.
The first extension was from January 19 to February 9. Then it was moved to April 6 and, again, extended by one month to May 6. The deadline was later shifted to July 26 and then October 31 (yesterday).
Last Friday, three days before the October 31 deadline, the Federal Government again extended the deadline to December 31.
The Minister said the decision to extend the deadline was made further to appeals by the Mobile Network Operators and other industry stakeholders, soliciting for further extension to ensure better compliance with government’s directive and to avoid widening the digital divide.
He also said that the extension would also provide the enabling environment for the registration of Nigerians in remote areas, diaspora, schools, hospitals, worship centres, as well as foreigners, diplomatic missions, those in other areas that were hitherto unreachable, and increase enrolments in countries with a significant number of Nigerians.
According to him, the review of the progress of the exercise indicated that over 66 million unique NINs have been issued, an indication of progress achieved in the ongoing NIN-SIM linkage.
He, however, indicated that a significant part of the populace is yet to be registered into the National Identity Database (NIDB), which may be due to some challenges which the Federal Government has looked into and has made efforts to alleviate, hence the need to extend the deadline.
The statement reads in part: “As of October 30, 2021, there were over 9,500 enrolment systems and over 8,000 NIN enrolment centres within and outside the country.
“This has significantly eased the NIN enrolment process and subsequent linkage of NIN to SIM.
“The NIN-SIM verification process is supporting the Government’s drive to develop Nigeria’s digital economy, strengthen our ability to protect our cyberspace and support the security agencies.
“The administration of President Muhammadu Buhari, has graciously approved the extension to accommodate the yearnings of the populace and make it easier for its citizens within and outside the country, and legal residents to obtain the NIN and link it with their SIM.
“The unique 66 million NIN enrolments, with an average of 3 to 4 SIMs linked to the NIN, is a testament to the commitment and dedication of the Federal Government, through the Nigerian Communications Commission, NCC, and the National Identity Management Commission, NIMC, to ensure the success of the project”.
The minister, therefore, enjoined Nigerians and legal residents to take advantage of the window to complete the process of enrolment and verification before the end of the year.
Cornerstone of Financial Services
A survey of more than 1 000 global finance leaders undertaken by digital payment network Ripple shows that 72% of respondents believe they need to offer a digital asset solution to remain competitive.
According to Ripple, leaders from the banking, fintech, corporate and asset management sector have made it clear that the “digital asset revolution is happening now”.
“Digital assets are quickly becoming a cornerstone of financial services, underpinned by progressive regulation, growing interest from Tier-1 banks, a steady consumer shift from banks to fintech providers, and booming stablecoin adoption,” Ripple says.
The survey was conducted in early 2026 and the findings released in March.
Stablecoin Boon or Bane?
Ripple has experienced significant success in the stablecoin sector since launching its Ripple USD (RLUSD) stablecoin in 2024.
With a market cap of $1.56 billion, it is considered a major regulated player in the market.
No doubt the platform was pleased to learn through its own survey that financial leaders were most bullish about stablecoins.
Roughly three-quarters of respondents believed they could boost cash-flow efficiency and unlock trapped working capital.
Ripple noted that finance leaders were thinking about stablecoins as more than “just a new way to execute payments”; instead, they viewed them as effective tools for treasury management.
In March 2026, Ripple began testing a new trade finance model built around RLUSD in a bid to increase the speed of cross-border payments.
The pilot initiative, developed alongside supply chain finance company Unloq [https://unloq.com], is running on the XRP Ledger inside a testing framework developed by the Monetary Authority of Singapore.
The Asian city-state is one of the platform’s biggest growth markets.
The idea behind the project is to see whether stablecoin-based settlement can streamline trade finance, too often hampered by reliance on intermediaries and slow reconciliation.
The only potential drawback is that if the initiative takes off, the Ripple to USD price could be negatively affected.
Ripple has always championed its native XRP token as a bridge asset, the “middleman” in the process of a financial institution turning dollars in the US into pounds in the UK, for example.
Ripple converts dollars into XRP and then back into pounds.
If RLUSD can do exactly the same thing, questions will be asked about XRP’s relevance.
That is a bridge Ripple will have to cross if it gets to that point.
Tokenisation Partners
Another interesting finding from Ripple’s survey is that most banks and asset managers are seeking tokenisation partners to help execute their strategies.
Some 89% of respondents said digital asset storage and custody were top priority. “Token servicing/lifecycle management also ranks highly for banks at 82%, while asset managers place greater emphasis on primary distribution at 80%,” Ripple found.
The survey also revealed that just more than half of fintechs and financial institutions want an infrastructure provider that can offer a “one-stop-shop solution”. This rose to 71% among corporate financial leaders.
Ripple attributes this to institutions and firms wanting uncomplicated, cohesive systems.
Infrastructure Rules
In its final analysis, Ripple says companies across the board are looking for partners and solutions that are “secure, compliant, battle-tested and that enable growth and execution”.
“The message is clear: infrastructure decisions made today will shape competitive positioning tomorrow.”
No surprise that this is precisely where Ripple is placing much of its focus.
