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We Toughened SIM Card Replacement to Stop Fraud – NCC



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  • We Toughened SIM Card Replacement to Stop Fraud – NCC

The Nigerian Communications Commission has said that it toughened the process of replacing SIM cards in order to stop fraudulent use of mobile lines to steal from subscribers bank accounts.

According to a statement made available to our correspondent in Abuja on Sunday, the Director of Zonal Operations, Mrs. Amina Shehu, said this at a Consumer Conversation Programme held by the commission in Lafia, Nasarawa State, on Saturday.

Shehu, who was represented at the forum by a Principal Manager in Zonal Operations, Mr Ekisola Oladisun, explained that it became necessary to review and make the process of replacing lost, stolen or damaged SIM cards more stringent to prevent those who swap SIM cards for fraudulent purposes.

She said that the regulatory agency had found that at times a subscriber may be having issues with their phone number, thinking that it was a network issue but by the time they discovered what was happening, money had been fraudulently taken out of their bank account.

Shehu said SIM swap or replacement fraud had a lot of issues attached to it because, often times, a lot of people who were not the owners of some numbers go to do SIM swap at various customer centres of the service providers.

The NCC helmsman said, “There have been cases of fraudulent activities done on people’s bank accounts as a result of SIM swap and the victims often complain to the commission expecting that the NCC would compensate them.

“To stop this SIM swap fraud, the commission in 2017 developed ‘Guidelines on SIM Replacement’, which sets water-tight rules for telecoms consumers to replace their SIM card when there is a need for it.

“The guidelines set stringent conditions which require that consumers identify themselves properly before replacing lost SIM. This is to ensure that telecoms subscribers are well protected from becoming victims of SIM swap fraud.”

She said that the commission had noted that there was the likelihood by subscribers to think that network providers were putting them through stress to have their SIM replaced, by asking them to bring court affidavit, national identification card (or other valid IDs), SIM pack, amongst other requirements.

Explaining further, Shehu said, “What telecoms consumers should know is that they must appreciate the fact that all the information being required from them is to establish that anybody coming for SIM swap proves that the number that is being requested to be swapped belongs to him/her.”

She urged the consumers to immediately report to their respect bank to block their accounts once they lose SIMs that linked with their bank accounts.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.

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BUA, Kainos Exploration to Drag Each Other to Court Over $20 Million Scandal



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BUA Group on Monday threatened to drag Mr James Onyejekwe, the Managing Director of Kainos Exploration to court over a publication that claimed the Group was involved in a $20 million scandal.

BUA stated in a statement issued on Monday.

It stated that the publication engineered by Mr Onyejekwe was a “clear intent to impugn the integrity and reputation of BUA Group and its Chairman, Mr Abdul Samad Rabiu.”

BUA takes its reputation seriously and we will continue to do everything to protect it from anyone and any entity who obstructs our mandate to conduct business in a proper, legal and socially-responsible manner.

“BUA will, therefore, utilise its legal and human resources to resist every campaign of defamation and distraction,” the statement further said.

The leading cement manufacturing company said its independent investigation showed Mr. Onyejekwe was behind the false story that went viral online.

We have, therefore, instructed our legal team to immediately commence criminal defamation proceedings against the person of Mr James Onyejekwe who is the said originator of the malicious letter fraudulently attributed to Cavendish Petroleum against our person, with damages,” the statement seen by Investors King noted.

BUA explained that “We deem these actions necessary, in order to protect the name and reputation of BUA Group.”

“We see no reason why Mr James Onyejekwe of Kainos Exploration and Processing would single out BUA in a supposed business dispute which had no link to the BUA Group in its entirety.

“Therefore, BUA finds it absurd that Mr Onyejekwe or anyone else will decide to drag BUA into their issues and/or put out such a malicious and defamatory statement, fraudulently using the name of Cavendish/Mr Mai Deribe without recourse to the truth, facts, decorum or decency,” it added.

BUA Group described the story bordering on allegations of corruption as “false, malicious and spurious.”

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Dangote Cement Emerges Best Performing Firm In Africa



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The Kogi State Chamber of Commerce, Industry, Mines and Agriculture (KOCCIMA) has named the Dangote Cement Plc, Obajana Plant, as the best performing company in Africa.

The award was presented to the company in Lokoja at the weekend by the Deputy Governor of Kogi State, Chief Edward Onoja, who represented the State Governor, Alhaji Yahyah Adoza Bello, at the Annual General Meeting(AGM) of KOCCIMA.

Speaking at the occasion, the President of KOCCIMA, Mr. Victor Ibrahim, said the Dangote Cement emerged through a thorough screening process that involved 20 companies.

He said: “Our screening committee considered many criteria before Dangote Cement Plc was selected”.

According to him, the Chamber put into consideration Dangote Cement’s contributions to the state’s economy through Internally Generated Revenue(IGR), as well as its good relationship with KOCCIMA.

Mr. Ibrahim said another criterion that placed the Dangote Cement in good stead is that the company has been environmentally friendly.

“We’ve visited DCP Obajana Plant and we found it complying with global best practices when it comes to the environment. Your parking lot does not constitute any environmental danger. We also considered returns to investors, the welfare of staff, the 43km Obajana-Kabba concrete road, your good relationship with the host community and your positive image”.

He announced that the Chamber of Commerce was planning to host its Trade Fair by year-end and looking forward to collaborating with the Dangote Cement Plc.

The Deputy Governor Mr. Edward Onoja expressed the appreciation of the Kogi State Government, saying the contributions of KOCCIMA and the private sector were crucial to the development of the state.

Speaking to newsmen on the sideline of the event, representative of the Dangote Cement Plc Mr. Ademola Adeyemi said the company was elated and that the award will further spur it to continue its support to the state’s economy, KOCCIMA and Corporate Social Responsibility schemes.

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MTN Appoints Chika Ekeji as Executive Lead for Strategy and Transformation



MTN Appoints Chika Ekeji, A Nigerian-American as Executive Lead for Strategy and Transformation

MTN Group has announced the appointment of Chika Ekeji, a Nigerian-American national as an executive to lead the strategy and transformation unit of the mobile network operator.

Chika has a Master of Engineering in Computer Science from Cornell University and an MBA from MIT.

He will be leaving from McKinsey & Company, where he led the West Africa Digital Practice and served telco, financial services, and public sector clients across Africa.

His appointment with Africa’s leading mobile operator will be effective on, 15th of March. In his new role, he will be based in SA.

“We are very pleased that Chika is joining us as we work to accelerate our strategic repositioning,” says MTN Group chief operating officer Jens Schulte-Bockum.

To support the execution of the repositioned strategy, Ekeji joins a group of other recent appointees, including the new group chief financial officer, Tsholofelo Molefe.

In recent weeks, MTN also made changes to the group’s regional structure and the executive committee.

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