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Modifications (Adults) National Identity Management Commission

This is the modification of data of an enrolled Citizen or Legal Resident of age 16 years and above, when the need arises.

However, some fields in the data are non-updatable and cannot be modified.

The approved fee for a Change of Date of Birth request is N15,000.

Updatable Fields (approved)

  1. Names
  2. Date of Birth (carries a different fee, see above)
  3. Addresses
  4. Phone Number
  5. Place of Birth – State
  6. Place of Birth – LGA
  7. Place of Birth – Country (if different from Nigeria)
  8. Place of Origin – State
  9. Place of Origin – Town, Village
  10. Place of Origin – LGA
  11. Father’s NIN
  12. Father’s Town, Village of Origin
  13. Father’s State of Origin
  14. Father’s LGA of Origin
  15. Mother’s NIN
  16. Mother’s Town, Village of Origin
  17. Mother’s State of Origin
  18. Mother’s LGA of Origin

Non-Updatable Fields

  1. Gender
  2. NIN
  3. State of Registration
  4. LGA of Registration
  5. Registration Centre
  6. Ward
  7. Polling Unit
  8. Date of Death
  9. Date of Death Type
  10. Tracking Number
  11. Date of Registration
  12. Originating Centre
  13. Loading Centre
  14. ID Card Number
  15. Applicant’s Finger Print (Finger 1 to 10)
  16. Applicant’s Finger Print Reason (Finger 1 to 10)
  17. Applicant’s Signature

Mandatory requirements for data modification:

Applicants are to present

  • the original copy of the NIN slip issued to them after the first registration
  • the printout of the Remita Retrieval Reference (RRR) Number given at the bank after payment/ or a printout stating the payment details if the payment was made online
  • an Application Letter duly signed by the applicant for change in the data fields he/she wishes to modify stating the reason
  • the supporting document to back the proposed changes to be submitted accordingly.

Supporting Documents for Data Modification

Change of Name

  • Sworn Affidavit
  • Newspaper Extract
  • Marriage Certificate (in cases of marriage)

Change of Address

  • Utility Bill
  • Tenancy Agreement
  • Bank Statement
  • Community leader Attestation

Phone Number due to loss or mechanical damage

  • Police Report

Level of Education

  • Certificate obtained

Change of Occupation

  • Offer Letter

Process of Modification (Adults):

  • Applicants walks into the enrolment Centre with a supporting document (including application letter).
  • Applicant will be issued a data modification form to fill.
  • Applicant data modification forms will be vetted by a NIMC Official to crosscheck the information filled on the form against the supporting document provided. Note: applicants who cannot read nor write should come along with a person who can do the form filling for him.
  • Applicant’s pre-filled information will be inputted on the NIMC Software by a NIMC enrolment officer.
  • The enrolment officer will ask the applicant to double check his/her information using the applicant monitor to check for errors.
  • If the applicant is satisfied with his/her demographic information, the biometrics of the applicant will be captured subsequently.
  • After completing the enrolment, a Transaction ID Slip will be issued to the applicant as an evidence of the transaction.
  • The former NIN Slip will be retained by the enrolment officer if the modified data will affect details on the NIN slip.
  • The applicant will be requested to come back for the NIN within 2-5 working days or more, as it is subjected to speed of the network.
  • A new National Identification Number Slip having the same NIN will be issued to the applicant after processing.

If the modification affects the information on the applicant’s card, the following process will take place:

  • A card replacement form will be filled and the old National ID card retrieved.

The new/modified National e-ID Card will be issued to applicant within three (3) months after re-issuance of NIN slip.

Service Fee: N500 per field (except for Change of Date of Birth which is N15,000 for processing your request only – non-refundable). Payable through the NIMC into the TSA (CBN).

Availability: Monday – Friday (8a.m. to 4 p.m.)

Dependencies:

  • Payment must be made before modification commences.
  • Availability of network.
  • Availability of NIMS Backend.
  • Availability of power.

Payment Process

Step 1:
Visit www.remita.net to start the payment process.

Step 2:
Click on the option ‘Pay Bills‘.

Step 3:
Who do You want to Pay – type in ‘National Identity Management Commission‘.
Name of Service/Purpose – choose ‘Modification of any other field other than DOB‘ or ‘Correction of date of Birth‘.
Amount to Pay – will be set based on your choice in the step above.
Payer’s Name – type your full name.
Payer’s Phone – type your phone number.
Tick the ‘I am not a robot’ reCAPTCHA checkbox and click on the stated selection of images before clicking on the ‘Verify’ button.

Step 4:
Click on the ‘Submit’ icon to ͞proceed to payment.
A new page which is the invoice will come up which will display your RRR – Remita Retrieval Reference at the top of the page.
Print the invoice and take note of your RRR.

Step 5:
Choose any payment method convenient for you.
Option 1: ‘Card’.
Option 2: ‘Bank Branch’.
Option 3: ‘USSD’.
Option 4: ‘Internet Banking’
Option 5: ‘Wallet’.
Proceed to complete your transaction by clicking on the “Pay…’, ‘Print Invoice’ or ‘Continue’ button as suited to your preferred method.

AGSMEIS: CBN expands beneficiaries to 14,638

The Central Bank of Nigeria has extended the number of beneficiaries under the Agri-Business Small and Medium Enterprise Investment Scheme (AGSMEIS) Loans to 14,638 applicants.

This information is contained in a communique from the last MPC report of CBN verified by Aiaccess Contractors. The communique also revealed that 250 SME businesses, predominantly the youths, have also benefited from the Creative Industry Financing Initiative.

In addition to these initiatives, the CBN is set to contribute over N1.8 trillion of the total sum of N2.30 trillion needed for the Federal Government’s 1-year Economic Sustainability Plan (ESP), through its various financing interventions using the channels of Participating Financial Institutions (PFIs).

Backstory

A few months ago, the CBN announced that it has unveiled a framework that will integrate a non-interest window in all its intervention programmes aimed at supporting businesses and households that have been impacted negatively by the COVID-19 pandemic. Aiaccess Contractors had earlier reported on how to access the AGSMEIS fund.

Why it matters

Given the impact and accompanying harsh consequences of the pandemic, coupled with the present regime’s focus on diversification of the economy, this intervention is therefore aimed at achieving the diversification goal, reflating the economy, creating more jobs and income, managing inflation, and setting the economy on the path of recovery.

CBN in the latest communique of its last MPC meetings also revealed that it has disbursed a total of N3.5 trillion in interventions in the wake of the COVID-19 pandemic as of September 22, 2020. The breakdown of the disbursement includes:

  • Real Sector Funds: N216.87 billion
  • Targeted Credit Facility: N73.69 billion
  • AGSMEIS: N54.66 billion
  • Pharmaceutical and Health Care Support Fund: N44.47 billion
  • Creative Industry Financing Initiative: N2.93 billion

In terms of project distribution, a total of 128 projects that comprises 87 real sector funds project and 41 health-related projects have been funded. In like manner, about 120,074 have received funding under the Targeted Credit Facility.

 

How to access new CBN’s Agric fund

The Central Bank of Nigeria (CBN) has unveiled guidelines for a Non-Interest Financial Institutions under its Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS) and Micro, Small and Medium Enterprises Development Fund (MSMEDF).

This was disclosed by the apex bank via its website on Tuesday. The guidelines also included the Accelerated Agricultural Development Scheme (AADS) and seven other intervention schemes in its bouquet.

The Central Bank of Nigeria (CBN) has unveiled guidelines for a Non-Interest Financial Institutions under its Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS) and Micro, Small and Medium Enterprises Development Fund (MSMEDF).

This was disclosed by the apex bank via its website on Tuesday. The guidelines also included the Accelerated Agricultural Development Scheme (AADS) and seven other intervention schemes in its bouquet.

How the AGSMEIS works

* The CBN would create a Fund to be known as ‘AGSMEIS Non-Interest Fund’ that will be domiciled in a dedicated account with the apex bank.

* Each non-interest deposit Bank (full-fledged or window) was to set aside 5% of its Profit After Tax (PAT) annually as contribution to the Fund.

* Each non-interest Deposit Bank was also to transfer its contribution to the CBN not later than 10 working days after the Annual General Meeting (AGM) of the participating bank.

* Eligible activities under the Scheme are businesses across the agricultural value chain, covering production, inputs supply, storage, processing, logistics and marketing.

* Others included MSMEs in the real sector including manufacturing, ICT, mining, petrochemicals and the creative industry as well as other activities as the CBN may determine from time to time.

How to access fund

The application of the Fund shall be categorised into three broad components. They are debt, equity and developmental components.

•  The debt component shall constitute 50% of the fund which shall be disbursed as financings to eligible businesses through Non-Interest Deposit Money Banks.

*Asset purchased shall be registered with the National Collateral Registry (NCR).

* Financing limit: N10,000,000

* Mark-up: 5% per annum

* Tenor: Up to 7 years (depending on the nature/gestation period of the
project)

* Moratorium: Maximum of 18 months for principal and 6 months on mark-up.

* Duly completed application form.

* Bank Verification Number (BVN).

* Certificate of Training from recognised Entrepreneurship Development Institution (EDI) or evidence of membership of organised private sector association.

* Letter of Introduction from any of the following: Clergy, Village Head, District Head, Traditional Ruler, senior civil servant etc (for individuals, microenterprises only).

* Evidence of registration of business name or certificate of incorporation and filing of annual returns (where applicable) in compliance with the provisions of the Companies and Allied Matters Act (1990).

Back story

Some month back, the CBN announced that it has unveiled a framework that will integrate a non-interest window in all its intervention programmes aimed at supporting businesses and households that have been impacted negatively by the COVID-19 pandemic.

In a statement, the apex bank said the integration will focus mainly on its Anchor Borrowers’ Programme (ABP) as well as the Targeted Credit Facility (TCF).

Why it matters: The Scheme will be for start-ups, business expansion or revival of ailing companies and shall be in compliance with provisions of BOFIA (1991) as amended and the principles underpinning operations of NIFIs.

“The MSMEDF for NIFIs guidelines are aimed to channel low return funds to the MSME sub-sector of the Nigerian economy through participating Financial Institutions (PFIs) to enhance access by MSMEs to financial services.

“Similarly, the non-interest guidelines for the AADS are aimed at engaging a minimum of 370,000 youths in agricultural production across the country between now and 2023, in order to reduce unemployment among the youth in the country,” it added.

While the specific objectives of the MSMEDF for NIFIs are to increase the productivity and output of microenterprises, job creation and engender inclusive growth, those of the AADS are to increase agricultural production towards food security, job creation and economic diversification.

How to register NAFDAC regulated Products

The following are required from the Applicants

  1. Submit all documents for registration and application letter in accordance with the issued guidelines at first instance for any of the service to be rendered by NAFDAC.
  2. Provide NAFDAC with the relevant information and description of the facility for inspection where it relates to registration and importation of NAFDAC regulated products.
  3. Provide samples of the products to be registered when notified by NAFDAC for laboratory analysis.
  4. Ensure all payments are made as at when due (See relevant guidelines and tariffs and fees).
  5. Ensure all documents are complete and with the appropriate description to prevent unnecessary delays.

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Timelines

  1. Registration of food product not more than 90 days from acceptance of application.
  2. Registration of drug product not more than 120 days from acceptance of application.
  3. Variation of product registration takes not more than 60 days

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Compliance Directive

A client is mandated to comply with Compliance Directive (CD) within 7 days of issuance.

Note failure to comply with any CD issued by NAFDAC may be a basis for cancellation of the application and all delays of the client will not be counted within the 90 days for registration.

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Complaints:

All Complaints or conflicts should be forwarded to the reforms unit of NAFDAC through the following address; nafdac@nafdac.gov.ng, complaints@nafdac.gov.ng, or the nearest nafdac state offices (see attached details).

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Summary of Registration processes with timelines

  1. Submission of Application – 0 days
  2. Document Verification – 10 days
  3. Facility Inspection/Sampling – 10 days for Food, 20 days for Drugs
  4. Laboratory Analysis – 30 days for Food, 40 days for Drugs
  5. Final Vetting – 10 days
  6. Approval Meeting/Issuance of NAFDAC registration Number(Certificate of registration) – 20 days

Total number of days: 90 days for Food, 120 days for Drugs

Useful Resources

PROCEDURE FOR FINANCE COMPANY LICENSE IN NIGERIA

INTRODUCTION

The Central Bank of Nigeria according to the powers conferred on it by Section 28 of the Central Bank of Nigeria Act and Section 56-61 of the Bank and Other Financial Institutions Act, issued revised guidelines to regulate the establishment, operations, and other activities of Finance Companies in 2014.

FINANCE COMPANY

A finance company, unless otherwise stated, means a person or company licensed to carry on finance company business. Finance Company Business means the business of providing financial services for consumers and to industrial, commercial, or agricultural enterprises. Such services include:

1.      Funds management;

2.      Equipment leasing;

3.      Hire-purchase;

4.      Debts factoring and securitization;

5.      Project financing or consultancy;

6.      Debt administration;

7.      LPO financing;

8.      Project financing;

9.      Export financing;

10.     Financial consultancy; and

11.     Issuing of vouchers, coupons, credit cards, and token stamps and such other businesses as the CBN may, from time to time, designate.

PROCEDURE FOR APPLICATION FOR LICENCE

Any person seeking a licence for a finance company business in Nigeria shall apply in writing to the Governor of the Central Bank of Nigeria. Such application shall be accompanied by the following:

1.      A non-refundable application fee of N10,000.00 [ten thousand Naira only] in bank draft, payable to the Central Bank of Nigeria.

2.      Deposit of the minimum capital of N20 million (Twenty million naira only) in bank draft made payable to the CBN. The capital thus deposited together with the accrued interest will be released to the promoters on the grant of the final licence.

3.      Satisfactory, verifiable, and acceptable evidence of payment by the proposed shareholders of the minimum capital of N20 million.

4.      A copy of a detailed feasibility report disclosing information that will include:

i.       The objectives and aims of the proposed finance company.

ii.      The need for the services of the finance company.

iii.     The special services that the finance company intends to provide.

iv.      The branch expansion programme [if any] within the first five years.

v.      The proposed training programme for staff and management succession.

vi.      A five-year financial projection for the operation of the finance company, indicating its expected growth and profitability.

vii.     Details of the assumptions upon which the financial projection has been made.

viii.    The organizational structure of the finance company, setting out in detail, the functions and responsibilities of the top management team.

ix.      The composition of the Board of Directors and the curriculum vitae of each member including other directorships held [if any].

x.      The conclusions based on the assumptions made in the feasibility report.

5.      A copy of the draft Memorandum and Articles of Association.

6.      A letter of intent to subscribe to the finance company, signed by each subscriber.

7.      A copy of the list of proposed shareholders in tabular form, showing their business and residential addresses [not post office addresses], and the names and addresses of their bankers.

8.      Names and curriculum vitae (CV) of the proposed members of the Board of directors. The Cvs must be personally signed and dated. The documents/items under paragraph (d) above.

9.      No proposed finance company shall incorporate/register its name with the Corporate Affairs Commission until written approval has been communicated to the promoters by the CBN, a copy of which shall be presented to the Corporate Affairs Commission.

10.     In considering an application for a licence, the Bank shall require to be satisfied as to the following;

  • The Minimum paid-up capital of N20 million is acceptable and the source is verifiable, satisfactory, and acceptable.
  • The quality of the management of the proposed company. The promoters would be required to submit the names and curriculum vita (cv) of the proposed top management team. The CVs must be personally signed and dated.
  • The earnings prospect of the company.
  • The objects of the company as disclosed in its Memorandum and Articles of Association which should agree with the services listed in the provisions of Section 1 of these Revised Guidelines.

11.     Thereafter, the Governor may grant a licence to a finance company.

12.     The CBN may at any time vary or revoke any conditions of a licence or impose additional conditions.

13.     Where a licence is granted subject to conditions, the finance company shall comply with those conditions to the satisfaction of the CBN within such a period as the CBN may deem appropriate in the circumstances.

REQUIREMENTS FOR DIRECTORS

1.      The maximum number of directors on the Board of a finance company shall be seven while the minimum shall be three. To qualify for the position of a director in a finance company, it is hereby required that the person(s) must not be current employees or directors of banks or other financial institutions, except the finance company is promoted by the banks or other financial institutions and are representing the interest of such institutions. In circumstances, however, where current directors or employees of banks or Other financial institutions are proposed for the position of Director, the consent of their employers must be given in writing to the CBN.

2.      The appointment of new directors must be preceded by CBN’s approval.

MANAGEMENT REQUIREMENTS

The following minimum qualifications and experience are mandatory for officers who may occupy the key/top management positions in the finance company.

1.      Managing Director/Chief Executive – a recognized university degree or professional qualification with at least 7 years of post-qualification experience in relevant fields.

2.      Departmental Head – a recognized university degree or professional qualification with at least 5 years of post-qualification experience in relevant fields.

3.      Support staff – shall be qualified and be of proven ability.

4.      A person with any other qualifications or experience that may be considered adequate by the CBN can hold any of the positions [i], [ii] and [iii] within the organization.

CONDITIONS PRECEDENT TO THE COMMENCEMENT OF OPERATIONS

1.      The promoters of a finance company shall submit the following documents to the CBN before such finance company is permitted to commence operations:

a.       A copy of the shareholders’ register in which the equity interest of each shareholder is properly reflected [together with the original for sighting].

b.      A copy of the share certificate issued to each shareholder.

c.       A certified true copy of Form C02 [Return of Allotments] filed with the Corporate Affairs Commission.

d.      A certified true copy of Form C07 [Particulars of Directors] and written confirmation that the Board of Directors approved by the CBN has been installed.

e.       A certified true copy of the Memorandum and Articles of Association filed with the Corporate Affairs Commission.

f.       The opening statement of affairs audited by an approved firm of accountants practising in Nigeria.

g.      A certified true copy of the certificate of incorporation of the company [together with the original for sighting purposes only].

h.      A copy of each of the letters of offer and acceptance of employment by management staff and a written confirmation that the Management team approved by the CBN has been put in place.

i.       A letter of undertaking to comply with all the rules and regulations guiding the operations of finance companies.

j.       Evidence of registration with the finance company’s association umbrella body.

2.      The finance company shall inform the CBN of the location and address of its Head Office.

3.      The finance company shall be informed in writing by the CBN that it may commence business after physical inspection of its premises.

4.      The finance company shall inform the CBN in writing of the date of commencement of business.

CONCLUSION

To recapitulate, it is compulsory for every company desiring to be licensed as a finance company to be a stand-alone and therefore, be strictly limited to solely engaging in finance company businesses as stated in the body of the article.