Telcos may lose N25b over prolonged SIM ‘lockdown’

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ICYMI: Telcos may lose N25b over prolonged SIM ‘lockdown’

The implications of this are that mobile network operators would have lost about ₦25 billion to the process as a result of inactive SIM cards, which would have increased by 9.6 million, at an average of 3.2 million lines per month, aside from those previously lost.

Another subscriber, Nduka Okafor, said he was robbed in traffic on Ikorodu road on January 20, “they took my business line. The robbers later took some money from my account. If not that I was faster to block some of the bank accounts linked to that SIM, they would have rendered me bankrupt. I have not been able to reactivate the line. I think the government should look into the matter fast.

“Having a robust database is crucial to solving so many challenges bedeviling Nigeria, especially insecurity. So, it is crucial that we must get this process right this time around.”On the April 6 deadline and the court order demanding extension of the exercise by two months, the ALTON Chairman said the deadline for the registration, verification, and linking of NIN to SIMs is still a bit far.

While in the last three months of the FG’s directive, some 7.6 million lines have become inactive and had resulted in operators losing over N10 billion in the process, the court order may further compound these woes, but Ogunbanjo said: “no sacrifice is too much for the sake of security. The extension is for a short time. It won’t take long before the operators will recoup their money.

According to him, the target of the World Bank in this project is to ensure that NIMC registered about 150 million Nigerians, which appears not realisable by April 6. He said some youth demographics will just be attaining the age of registration, and definitely, they cannot be thrown out because the future of the country rests with the young adults, “so, in essence, I am saying that the registration should be a continuous process.

 

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