MTN Nigeria to hold investor's meeting on new SIM registrations

After the directory by National Communications Commission (NCC) Nigeria to block new SIM cards not updated with National Identity Numbers (NIN), MTN Group is going to hold a meeting with Nigerian telecoms operators, according to a report by BusinessDay.

The mobile operator reportedly said on Thursday that it will clarify the details to its investors about the meeting it organized with other Nigerian regulators earlier this week.

MTN stated this after NCC's recent audit on the suspension of sale and activation of new SIM cards as it caused a hiatus among MTN investors.

After the news of the suspension of new SIM card activation, MTN has observed a fall of 10% of its share right after a day of the announcement, it said.

The group to in its effort to maintain synchronization among its investors said, "thursday's teleconference thus intends to provide additional context to the market on this issue, as well as the NCC's most recent announcement", to discuss the condition in the West African country.

Led by the meeting organized by NCC on Monday with industry stakeholders, including the National Identity Management Commission (NIMC), the National Information Technology Development Agency (NITDA), and management teams from Nigeria's mobile operators.

"The need to consolidate the achievements of last year's SIM registration audit and improve the performance and sanity of the sector was exhaustively discussed and all stakeholders agreed that urgent drastic measures have now become inevitable to improve the integrity and transparency of the SIM registration process," the regulator stated after the meeting.

NCC has reportedly given mobile operators two weeks to update SIM registration records. All SIMs without valid national identity numbers are to be blocked from the networks.

Marking a third of MTN's earning, Nigeria is its largest market.