Business
Telcos Begin Backend Integration Into NIMC Database
The mobile network operators in the country under the aegis of the Association of Licensed Telecommunications Operators of Nigeria (ALTON) have started the process of backend integration with the database of the National Identity Management Commission (NIMC) to facilitate the validation and verification of digital identities as well as the enrolment processes.
The association in a statement issued on behalf of MTN , Airtel, Globacom and 9 mobile on Wednesday said the integration would increase the capacity of both databases.
The statement signed by the ALTON Chairman, Gbenga Adebayo and Publicity Secretary, Damian Udeh, informed subscribers that there could be inconsistency in data captured and would notify subscribers when such happens.
The telecommunications operators said all operators had established various systems to enable subscribers with existing National Identification Numbers (NINs) to integrate it into their SIM registration profiles.
According to ALTON, options deployed for customer ease and convenience include USSD strings, apps and other self-service online portals, walk-in stores and customer care lines.
The statement said, “To facilitate the validation, verification and enrolment processes and having now been licensed by NIMC to provide those services, operators have commenced the process of backend integration with NIMC’s database and increasing the capacity of the respective databases, thus enabling more rapid validation and verification.
“It is important to note that we do expect that when SIM registration details are verified against the NIN database, there are likely to be inconsistencies in some of the data captured e.g. spelling, order or number of names captured etc.
“Where such inconsistencies are found, the operators will notify subscribers and provide a quick and easy mechanism to update SIM registration data and ensure alignment”.
The association pleaded for the understanding and cooperation of subscribers, saying stakeholders would continue to develop solutions that enhance the process such that safety , security and wellbeing of customers were prioritised.
Business
Private sector gets N2.2tr credit in 30 days — CBN
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
Business
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Business
NDDC Intensifies Women Empowerment Initiative Across Niger Delta
