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Lack of Funds Stops Nigerians from Getting e-ID cards ―NIMC boss
Engr. Aliyu Aziz Abubakar, Director-General, National Identity Management Commission(NIMC), on Monday disclosed that most Nigerians are not getting the multipurpose e-ID cards despite enrolment into the national database due to funding constraints.
He said although, the founding laws of the commission stipulated that a multi-purpose e-ID card is given as proof of its activities, it is incapacitated by the paucity of funds.
Engr. Abubakar, disclosed this in Abuja at a press briefing to kick start the 4th annual conference of the ID4Africa movement holding at the International Conference Center(ICC).
According to him, the commission is majorly focused on enrolment of Nigerians into the database, where enrollee would be issued with a National Identification Number (NIN).
He explained that the NIN is the major identity of an individual stressing that the commission currently cannot produce the e-IDcards for everyone.
In his words, “The focus is on NIN, the NIN gives you your identity. Historically we focus on the card to be an output of what we do.
“When we entered recession, we stepped back and check and we found out that in the US, the social security number is the one that connects all the other agencies, in the UK, it is National Insurance Number, in India where recently they enrolled about 1.4 billion people, they did not even give them a NIN slip but rather, they just gave them a number.
“That does not mean that card will not be given because it is there in the law that we should give a multipurpose card that is secured but it is difficult right now to produce for everyone because it is the best in the whole world,” he explained.
While reacting to questions of alleged partiality in the issuance of the e-ID cards, he said; “At NIMC, the focus is first come, first serve at least for 99 percent.
“It is people that have registered in 2012 and 2013 that have already gotten their cards.
“That does not mean that some people didn’t get recently but the focus is first come, first serve.”
He added that in the next three years, the commission will focus on the issuance of NIN rather than card saying the technique increased the number of enrollments from 5 million to 30 million.
“The focus now for the next three years will be on the number and not on the card. We have like five vendors in Lagos that can print these cards, it is to get the funding to ask them to print the cards.
“That is why we focus on enrolling people and then harmonizing their identity that is wDr. Joseph Atickhy we grew from 5 million to 30 million records but on the ID cards, we have not done much.”
Earlier, the Executive Chairman, ID4Africa, said the event aims to bring together experts from across the country to discuss and learn about identity management.
Also, he disclosed that the conference will be launching a petition to the United Nations (UN) on adoption of September 16 as the international identity day.
He explained that if adopted, the day will be set aside for the celebration of identity across the world.
“Identity is an important aspect of human and once we get the UN approval, other countries will key into it. This is starting in Abuja tomorrow all the way to New York where other countries will vote,” he said.
Nigerian Education Loan Fund (NELFUND) has said that Nigerian students will need to present their Unified Tertiary Matriculation Examination registration number (UTME); National Identification Number (NIN); and Bank Verification Number (BVN) to access student loans.
Mr Akintunde Sawyerr, managing director of NELFUND, assured that the body would ensure that those he called ‘ghost students’ would not have access to the soon-to-be-launched scheme.
The MD noted that NELFUND has put processes in place to ensure that all applicants and beneficiaries are traceable to prevent the loan from turning into a sort of national cake.
“We are using technology to run the system. The process of application is online and we are limiting human contact as much as possible. Once you have a Bank Verification Number, BVN and National Identification Number, NIN, which are parts of the requirements, we will have access to your data and all your accounts. This will also help us to know if you are qualified or not,” he explained.
He explained further that those who are already in school can apply for the loan at any level of their study, but must be at the beginning of each session. They would also have to provide their admission and matriculation details in addition to BVN and NIN.
According to the NELFUND boss, about 1.2 million Nigerian students in tertiary institutions and government-recognized skill acquisition centres would be among the first batch of beneficiaries. The number may increase as time goes on.
The programme, he noted, will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS), which will amount to N194 billion if the agency meets its projection.
He explained that the loan would be paid in two segments. The first, he said, is the chargeable school fees which would be paid directly to the institutions while stipend would be paid into individual student’s account for day-to-day upkeep.
Mr. Sawyerr stated that the amount individual applicants will access will vary because of the course of study, school fees payable and geographical location of the institutions among others.
On the method of payback, he said, “You don’t start paying back the loan until two years after your National Youth Service Corps, NYSC Scheme and that is, if you have secured a job or business. A beneficiary can defer repayment if he has not secured a job, but if after due diligence, he defaulted, then he becomes a criminal and we will work with every agency that can help us get the money back, for example, EFCC, ICPC etc.”
Sun International Limited, run by Anthony Leeming, South African entrepreneur, has agreed to sell its Nigerian interests to Rutam Finance Company Limited (RFC) for roughly $14.4 million.
The move is part of Sun International’s strategy to consolidate operations and focus on key markets. Sun International joined the Nigerian market in 2009, but has struggled in recent years due to a challenging operating climate.
This divestiture is consistent with the company’s strategic objectives and represents a shift in portfolio management.
Sun International, will sell a 43.3 percent ownership investment in Tourist Company of Nigeria PLC (TCN), which manages Lagos’ Federal Palace Hotel, to RFC for $1.875 million.
In addition, the group would pay off its whole $12.675 million credit to RFC, effectively exiting the Nigerian market. The corporation also intends to sell its remaining 6% ownership in TCN in due course.
The transaction, subject to customary closing conditions including as regulatory approvals, is estimated to create a cash inflow of about $14.41 million for Sun International.
These funds will be utilized to reduce debt.
Following the completion of the acquisition, TCN will no longer be included in Sun International’s financial statements.
This will reduce group debt by about $41.82 million, excluding IFRS 16 lease liabilities.
The closing is scheduled for no later than May 28, 2024, provided that all usual closing conditions are met. The Nigerian Competition Authority, the Securities and Exchange Commission, and the Nigerian Stock Exchange have all provided key clearances.
Sun International, founded in 1968 by the late Sol Kerzner, has grown into a renowned gaming and resort company under Leeming’s leadership.
In fiscal 2023, the company’s revenue increased by 7% to $646.14 million, while headline earnings increased by 86 percent to $55.35 million.
This demonstrates Sun International’s resiliency and strategic direction. Sun International’s pullout from Nigeria demonstrates the company’s dedication to streamlining its portfolio and pursuing growth possibilities in key areas.
With a rich history and a focus on the future, this transaction demonstrates the company’s commitment to create wealth for shareholders and stakeholders while also strengthening its position in the gaming and hospitality industries.
Sam Darwish, a US-Nigerian telecom entrepreneur, has experienced a huge financial setback in his holding in IHS Holdings following a recent drop in the shares of the top telecom infrastructure company on the New York Stock Exchange (NYSE).
Sam Darwish
According to data, Sam Darwish’s investment in IHS Holdings has lost $6 million in market value during the last 13 days. This drop reflects increasing selling pressure among NYSE investors.
From March 12 to 30, Darwish’s investment in IHS Holdings increased from $35.17 million to $49.27 million, resulting in a $14 million gain.
Darwish founded IHS Holdings in 2001, and it has since grown to become the largest telecom infrastructure business in Africa, Europe, Latin America, and the Middle East.
It is renowned for its huge tower count and is the world’s third-largest independent international tower firm.
In the last 13 days, IHS Holdings shares on the NYSE have dropped by 11.72 percent, from $3.67 on April 3 to $3.24 at the time of writing.
As a result, the company’s market capitalization has dropped below $1.1 billion, causing significant losses for stockholders.
As chairman and CEO of IHS Holdings, Sam Darwish holds a critical position in African telecom.
With a strong 4.17 percent ownership holding, equivalent to 13,958,158 ordinary shares, he is a key participant in the global telecom infrastructure business.
The recent double-digit loss in IHS Holdings shares has resulted in a $6 million decrease in the market value of Darwish’s shareholding in the top telecom infrastructure company. His shareholding has decreased from $51.23 million on April 3 to $45.22 million.
Despite this defeat, Darwish remains an important figure in the worldwide telecom business.
IHS Holdings’ extensive tower network and smart acquisitions have secured its position as a major participant in the global telecom infrastructure sector.
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