News
MTN Foundation Brightens Communities with WCWDT
MTN Nigeria has been on a journey to “brighten” the lives of Nigerians for the past 17 years through its social investment vehicle, MTN Foundation.
With the “What Can We Do Together (WCWDT)” initiative of the foundation, the company has extended its mission of brightening lives to local communities across Nigeria.
The “What Can We Do Together (WCWDT)” initiative was launched in 2015 as part of the 10th anniversary of the MTN Foundation, and in just three years more than 10 million Nigerians in 400 communities and 347 local government areas across Nigeria have been impacted.
The interventions by the MTN Foundation evidently reflect the MTN mission of transforming lives by addressing the pressing needs of the Nigerian populace for maximum impact.
The MTN brand is passionate about Nigeria’s growth and is determined to help Nigerians reach the heights of their potential.
This mission is executed through the three focus areas health, education and economic empowerment that are crucial to the socio-economic development of any society. The uncontrolled population growth has further contributed to the prevailing negative indices in these essential areas of our nationhood.
The resultant effect of this model is the rapid deterioration of such projects. It is on this premise that the “What Can We Do Together” initiative was introduced in order to ensure that social investments truly reflect the burning needs of the benefiting communities.
The hand-in-hand principle on which the initiative rests was once summarised by Dr. Pascal Dozie, MTN Nigeria chairman, with the words of the 26th President of the United States of America, Theodore Roosevelt, who said, “Do what you can, with what you have, where you are.”
Benefiting communities under the initiative are chosen through a nomination process that allows any Nigerian resident to nominate a community for possible selection. The nominated communities are scrutinised through a verification conducted by an expert verification team. Successful communities are subsequently enlisted to benefit from the initiative.
To date, MTN Foundation, through the “What Can We Do Together” initiative, has delivered 40 transformers, 40 borehole installations, and 14,200 items of school furniture to students who previously had to sit on sandy floors to receive lessons across 347 local government areas in Nigeria.
A total of 66 orphanages have received highly essential household items and 80 primary healthcare centres have been supplied with vital medical equipment.
Speaking on the success of the last edition of the initiative, Nonny Ugboma, executive secretary of the MTN Foundation, said that the executed projects were selected from a pool of thousands of nominations by members of the public in Phases 1 and 2.
“At the end, 200 communities were chosen to benefit in Phase 1, another 200 communities in Phase 2 and announcements were made in the print, electronic and digital media platforms. We are pleased to report that all the 200 projects in Phase 1 have been successfully implemented, while all the 200 projects in Phase 2 are at various stages of delivery and installation,” Ugboma said.
Dozie, expressed his delight at the support of Nigerians in helping the foundation reach its goal of touching lives in the beneficiary communities. “We could not have come this far in impacting 400 communities across the country through this initiative without the support of our customers and the nominators who demonstrated their belief in us by nominating their communities to benefit from the projects and show of loyalty in patronising our products and services,”
Dozie said at the MTN Foundation’s “What Can We Do Together” appreciation event in Lagos.
On his part, Prince Julius Adeluyi-Adelusi, chairman of the MTN Foundation, praised the nominators for being true change agents. “Through your nominations, 20 communities have received 500KVA transformers; another 20 communities have received 650ft boreholes. Supply of medical equipment to 80 primary healthcare centres and 80 schools have received sets of school furniture because of your nominations. Indeed, you are change agents in your communities today.
“Nigeria has had its fair share of challenges; a reality that can’t be denied, but if we work together we may be able to collectively combat these challenges. The MTN Foundation is here to improve the lot of Nigerians, and the “What Can We Do Together” initiative is a further testament to the shared success philosophy of MTN. The initiative encourages Nigerians to be more aware of the individual power to trigger positive change, one community at a time. As billionaire and philanthropist Pierre Omidyar said ‘Long-term sustainable change happens if people discover their own power.’
Federal Airports Authority of Nigeria (FAAN) has announced plans to introduce a biometric identity verification system, known as V-Pass, to speed up passenger processing and enhance security at domestic airports nationwide.
This initiative is aimed at strengthening aviation security, reducing passenger processing time and eliminating dependence on physical identity documents.
A statement issued yesterday by Henry Agbebire, director of Public Affairs and Consumer Protection, FAAN, said the new facial recognition platform, developed in partnership with Verxid Technologies Limited, would enable passengers to verify their identities through biometric authentication, allowing them seamless access through airport security checkpoints and boarding gates.
According to him, the initiative formed the focus of a strategic meeting between FAAN and Verxid Technologies Limited, where both organisations reviewed deployment plans, security safeguards and measures to improve passenger experience.
The statement hinted that the authority centred on ensuring the successful rollout of the digital platform while maintaining high security standards.
The statement quoted, Adebola Agunbiade, director of Commercial and Business Development, FAAN, as describing the V-Pass as another milestone in the authority’s ongoing digital transformation programme.
According to her, the platform indicated FAAN’s commitment to deploying innovative technology that enhances passenger facilitation while reinforcing aviation security across domestic airports.
She assured that the system would provide every traveller with a secure digital identity through a one-time enrolment process.
Under the arrangement, Nigerian passengers would register using their National Identification Number (NIN) alongside facial biometric capture, while foreign travellers would enroll with their passports through Optical Character Recognition (OCR) supported by biometric authentication, the statement added.
FAAN said the system would verify passenger identities before they gain access to restricted airport areas and once again before boarding their flights.
The agency noted that the dual-verification process was designed to prevent identity fraud, impersonation and unauthorised access to airport facilities, while giving security agencies greater confidence in passenger authentication.
Passengers would be able to complete the verification process either through self-service kiosks or with assistance from trained FAAN personnel.
The deployment would also include electronic gates to automate access into controlled areas, reduce queues and improve passenger movement across airport terminals.
According to the developers, first-time registration is expected to take about one minute, while subsequent biometric verification would take less than 30 seconds.
Apart from passenger processing, the V-Pass platform would also provide airlines with secure digital access to flight schedules, passenger manifests and boarding statistics.
FAAN assured travellers that data protection remained a critical component of the project, stressing that the platform fully complies with the Nigeria Data Protection Regulation (NDPR).
The Central Bank of Nigeria (CBN) has launched a new system to monitor how Bureau De Change (BDC) operators buy foreign exchange in the country.
Under the new arrangement, all licensed BDCs must report their foreign exchange purchases through a platform called the FX BDC Purchase Tracker (FXBT). The portal will allow the CBN to monitor transactions in real time or on the same day they take place.
The directive was announced in a circular dated July 15, 2026, and signed by the Director of the CBN’s Trade and Exchange Department, Aderinola Shonekan.
According to the apex bank, the new framework is designed to support its February 2026 policy that allows licensed BDCs to buy foreign exchange directly from authorised dealer banks in the Nigerian Foreign Exchange Market (NFEM).
The CBN said the initiative will improve transparency, strengthen compliance, increase liquidity in the retail forex market, and ensure proper participation by market operators.
A major feature of the framework is the FXBT portal, which will serve as a central database for tracking all foreign exchange purchases made by BDCs from banks.
Under the guidelines, every licensed BDC must register on the platform and submit transaction details either in real time or on the same day the transactions occur.
The CBN stated that the system will help regulators identify violations, detect suspicious transactions, monitor compliance with market rules, and improve confidence in the foreign exchange market.
The framework builds on the CBN’s February 2026 decision to allow licensed BDCs back into the official foreign exchange market. Under that policy, each eligible BDC can purchase up to $150,000 weekly from authorised dealer banks at market rates.
The apex bank said only BDCs with valid licences will be allowed to access foreign exchange through the framework. Operators whose licences have been suspended or restricted due to regulatory issues will not be eligible until those restrictions are lifted.
The CBN also directed banks to carry out thorough Know Your Customer (KYC) and customer due diligence checks before onboarding any BDC. Required documents include valid operating licences, Tax Identification Numbers (TIN), Corporate Affairs Commission (CAC) registration documents, and information on beneficial ownership.
Banks have also been warned not to sell foreign exchange to BDCs that fail to meet the required compliance standards.
To encourage fair competition, the CBN said BDCs can buy foreign exchange from any authorized dealer bank of their choice. Banks are prohibited from forcing BDCs into exclusive arrangements or charging referral fees that limit their ability to transact with other banks.
Under the new process, BDCs must submit electronic requests for foreign exchange through a bank’s designated portal. Banks are required to acknowledge requests within two business hours and communicate approvals or rejections immediately after processing.
Requests can only be rejected for valid reasons, such as incomplete documentation, exceeding weekly purchase limits, unresolved compliance concerns, or internal risk management issues.
The CBN also introduced stricter rules on how purchased foreign exchange can be used. All transactions between banks and BDCs, as well as between BDCs and customers, must be conducted through accounts held with licensed financial institutions. Third-party transactions remain prohibited.
In addition, BDCs are not allowed to keep unused foreign exchange purchased through the official market. Any unused funds must be sold back into the market within 24 hours after the permitted usage period expires.
The apex bank warned that failure to comply could lead to forfeiture of funds and suspension from the market.
BDC operators must also disclose any unused balances from previous allocations when applying for new purchases, while banks are expected to consider those balances when calculating weekly allocations.
Beyond reporting through the FXBT portal, BDCs must continue submitting weekly reports to the CBN. These reports must include details of foreign exchange purchased from banks, sales to end users, unused balances, and settlement records.
The CBN said the reporting requirements will improve transparency and help regulators better monitor foreign exchange flows in the retail market.
The bank warned that violations of the framework could attract penalties under the Banks and Other Financial Institutions Act (BOFIA) 2020 and the Foreign Exchange Act. Sanctions may include fines, suspension from the foreign exchange market, withdrawal of BDC licences, revocation of banks’ authorised dealer status, and referrals to law enforcement agencies where necessary.
The CBN’s Trade and Exchange Department will oversee compliance through regular and surprise inspections carried out in collaboration with other departments.
The apex bank said the new directive is part of its wider efforts to reform the foreign exchange market, improve transparency, boost liquidity, and restore confidence in the system.
Concerns over compliance breaches, speculative trading, and abuse of foreign exchange allocations had continued even after BDCs were reintroduced into the official market earlier this year.
The Corporate Affairs Commission (CAC) has announced the commencement of another exercise to remove 100,000 companies from Nigeria’s register of companies for failing to comply with statutory requirements under the Companies and Allied Matters Act (CAMA), 2020.
In a public notice issued on Thursday, and dated July 15, 2026, the commission said the exercise was being carried out pursuant to Sections 692(3) and 692(4) of the Companies and Allied Matters Act, 2020.
The notice stated: “This is to notify the General Public and Esteemed Customers that the Corporate Affairs Commission has commenced another round of striking off names of companies from the Register pursuant to the provisions of Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.”
According to the commission, the affected companies are listed on its official website.
“The list of the affected One Hundred Thousand (100,000) companies can be accessed at the Commission’s Website,” the notice said.
The CAC directed all affected companies to update their records by filing outstanding annual returns and beneficial ownership information within 90 days.
“The affected companies are hereby advised to take steps to file all outstanding Annual Returns (and by extension Persons with Significant Control/Beneficial Ownership information) and regularize their records within ninety (90) days of this notice,” the commission said.
It added that companies must send proof of compliance to the designated email address, [email protected], within the stipulated period.
The commission warned that failure to comply would result in the affected companies being removed from the register without any further notice.
“Please note that companies that fail to comply within the stipulated timeline shall be struck off the Register without further notice,” the notice stated.
The CAC reiterated its commitment to improving service delivery, saying, “The Commission remains committed to providing prompt and efficient services to the satisfaction of our valued customers.”
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