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5G: CBN Gives Telcos Forex Priority

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Central Bank of Nigeria (CBN) has placed the telecommunication sector on the priority list for access to foreign exchange.

5G: CBN Gives Telcos Forex Priority

This is coming ahead of the deployment of fifth generation technology (5G)

The Global System for Mobile Communications Association in late 2021 said Nigeria needs about $500m and 6000 base stations to roll out 5G in 10 cities.

The CBN’s decision means telcos can now access adequate forex to acquire major equipment from overseas for 5G deployment, and enhance their other forex-related activities.

In November 2021, Gbenga Adebayo, chairman, Association of Licensed Telecoms Operators of Nigeria (ALTON), said lack of seamless access to forex and other factors were affecting the growth of the sector.

However, in an interview with the Punch, Adebayo said the CBN’s latest decision meant telcos could access adequate forex to fulfill their international obligations and invest in infrastructure as well.

He said, “We are grateful to the CBN for this listing, for the priority consideration. We are also grateful to the minister for his intervention in this regard.

“This will allow players to honour our international obligations. As you are aware, international traffic is exchanged with foreign countries, so operators can honour the obligations (with equipment suppliers and bandwidth providers), all of those activities which supply support for the industry are denominated in foreign exchange.

“The other thing is that it enables procurement of equipment. It makes it easier to procure software and hardware. It will help the development of the sector. Also, now that we are talking about the 5G rollout, the players will have better access. It is for the good of all, we are grateful to the authorities for making this happen.”

According to a source in ALTON, telecommunication companies got priority access as a result of the engagements with the Federal Government through the Nigerian Communications Commission, the minister overseeing the sector and the office of the National Security Adviser.

The source said, “Prior to this time, it was very difficult as we had to source our forex. But we had to engage the Federal Government through the NCC, the minister, and the office of the National Security Adviser.

“We have been on the issue of exemption for a long time. As you know that the manufacturing and the power sector have been under the priority list, while telecoms have been left out. And most of the equipment we are using is imported. We use the same equipment as others in foreign countries.”

According to Olusola Teniola, national coordinator, Alliance for Affordable Internet, the latest development will improve network capacity across the nation. He said, “The bedrock of the digital economy is telecommunication, and it is the enabler for most modern society.

“For us in the industry, we are happy and we know this will only improve our capacity to build networks that have been delayed, slowed down, or even cancelled. This means that the network coverage of the country will be improved with the procurement of new network facilities; it also means there will be enthusiasm on the part of those looking to invest in the country. This is because investors will know that one of the impediments to investment has been removed-the ability to get forex out of the country.”

Also speaking, a source in one of the telecommunication companies said, “We are in a business that is FX denominated. We don’t produce anything locally, we import everything. Don’t also forget that 5G is around the corner, so we need to bring in a lot of equipment.”


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Terra Moves to Expand in African Drone Sector, Secures $22m Funding

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Olugbenga Agboola, Flutterwave CEO has joined a $22 million funding extension for Nigerian defensetech start-up Terra Industries as Africa’s fast-growing drone and security technology sector begins to attract capital far beyond traditional venture circles.

The round was led by Lux Capital, with participation from Agboola through Resilience17 Capital and returning investors including 8VC and Nova Global.

It follows an $11.75 million raise just weeks earlier, bringing Terra’s total funding to $34 million as the company accelerates expansion into high-risk security markets.

Terra, founded in 2024 by 24-year-old chief engineer Maxwell Maduka and CEO Nathan Nwachuku, builds autonomous drones and surveillance systems designed to protect critical infrastructure such as energy facilities, logistics corridors and industrial sites. The startup says it is already safeguarding assets worth billions of dollars while securing early federal and commercial contracts.

Agboola’s involvement highlights a broader shift in African tech investment patterns. While fintech has long dominated venture flows, escalating infrastructure sabotage and terrorism threats have elevated demand for locally developed security hardware.

“Nigeria’s drone ecosystem is rapidly evolving from hobbyist and mapping use cases toward industrial monitoring, border surveillance and energy protection, areas increasingly seen as foundational to economic stability.

“This is about backing infrastructure security at scale. Africa’s growth depends on resilient systems that protect critical assets,” said Agboola.

Terra CEO Nwachuku is adamant that locally engineered systems are better suited to African operating conditions. “We are building tools designed for the realities on the ground. Security technology should not always be imported when local innovation can respond faster and more effectively,” he stated.

Lux Capital partner Brandon Reeves underlined that the investor appetite, which has drawn fintech heavyweight interest such as Agboola, reflects rising cross-sector confidence in African defense technology as a commercial category. “Security is a prerequisite for economic growth,” he said.

“As Terra ramps production and expands regionally, its funding milestone illustrates a wider transformation. Drone and autonomous security platforms are no longer peripheral experiments but emerging pillars in Africa’s technology landscape, where fintech leaders and venture capital converge around safeguarding the infrastructure powering the continent’s next growth phase,” said Reeves

 


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Temu Assures Compliance Amid Nigeria Data Privacy Probe

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Temu, the global e-commerce platform expanding in Nigeria, has officially addressed an inquiry from the Nigeria Data Protection Commission (NDPC) over alleged data privacy violations, confirming its commitment to compliance with the Nigeria Data Protection Act (NDPA) 2023.

Temu Assures Compliance Amid Nigeria Data Privacy Probe

Temu

The company’s response follows NDPC’s investigation into Temu’s data processing practices.

In a statement to Nigeria CommunicationsWeek, Temu stressed its dedication to local and international data protection standards, noting ongoing communication with the regulator. “At Temu, protecting user privacy and data security is a top priority. We are committed to complying with applicable laws and regulations in our data practices,” the statement read.

Temu further affirmed: “We can confirm that Temu has received the inquiry and is engaging with the Commission. We will continue to engage in open and constructive dialogue with the NDPC to address any questions or concerns.”

Under Dr. Vincent Olatunji’s leadership, NDPC has ramped up scrutiny of foreign digital platforms to safeguard Nigerian citizens’ personal data—from contact details to financial information—ensuring transparent and secure handling. For e-commerce giants like Temu, managing vast consumer data volumes demands strict regulatory alignment to sustain operations and trust in Africa’s biggest economy.

Industry observers view Temu’s proactive stance as a savvy bid to ease tensions, mirroring Nigeria’s firm handling of platforms like X (formerly Twitter) and fintechs. This engagement underscores NDPC’s rising clout, compelling investors and foreign entrants to prioritise data compliance costs.

Nigeria CommunicationsWeek sees Temu’s approach as a model for global retailers eyeing Nigeria’s booming digital retail sector through 2026.


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NIMC Rolls Out WorkflowPro for Paperless Correspondence

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National Identity Management Commission (NIMC) has deployed WorkflowPro as its official platform for the digital submission and management of correspondence.

NIMC Rolls Out WorkflowPro for Paperless Correspondence

NIMC

Kayode Adegoke Phd, Head, Cooperate Communications of NIMC said this in a press statement on Tuesday, 17th February, 2026, pointing out that this was “In furtherance of President Bola Ahmed Tinubu’s Renewed Hope Agenda and the Federal Government’s commitment to institutionalizing a paperless public service.”

According to the statement, “The   adoption   of   WorkflowPro   marks   NIMC’s   formal   transition   to   a   paperless operating   environment   and   reflects   the   Commission’s   resolve   to   strengthen governance,    improve    administrative    efficiency,    and    standardize     records management in line with approved public sector reforms. The platform  provides a  secure,  structured,  and   traceable  system   for  managing   both  internal   and external  communications,  thereby  enhancing  accountability  and  operational transparency.

“Under the new framework, all external correspondence to NIMC will be processed electronically  through  WorkflowPro.  The  system  enables  end-to-end  tracking  of submissions,  accelerates  internal   routing   and  response  timelines,  and   ensures secure  electronic  archiving of  official  records. This  approach  eliminates  the risks associated  with  manual  handling  of  documents  while  reinforcing  compliance with established information management standards.”

Adegoke added that “The implementation of  WorkflowPro is  consistent with  the  Federal  Government’s Enterprise Content Management  (ECM)  policy, which mandates the digitization of   official   records   and   the   elimination   of   physical   file   movements   across   all Ministries, Departments, and Agencies  (MDAs) .

“Accordingly,  all  external   correspondence  addressed  to  the   National   Identity Management Commission must be submitted via the NIMC WorkflowPro platform, accessible through the official portal link or by scanning the designated QR code:
Portal Link:https://workflowpro-nimc.com/Submit . Correspondence

To  support  effective  implementation,  NIMC  has  approved  a  30-day  transition period   from   the   date   of   this   announcement,   during  which  stakeholders   are expected  to acquaint themselves with  the  new  process.  Upon  the expiration of this   period,   the   Commission   will   discontinue   the   acceptance   of    manually submitted letters and paper-based correspondence.

“WorkflowPro  was   developed   by   NIMC’s   in-house   technical   team   under   the directive   of   the   Director-General/Chief   Executive   Officer,   Engr.   (Dr.)  Abisoye Coker-Odusote. The platform forms part of a broader institutional reform agenda aimed   at   strengthening    the   security   of    official   communications,    reducing administrative   delays,   and   entrenching   digital   governance  within   the   public service.

“The  National  Identity  Management  Commission  enjoins  all  stakeholders  to  take note of this policy directive and ensure full compliance.”


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