News
FG Seeks Asset Manager for N15tn Infraco Fund

Federal government plans to hire an asset manager for its new Infrastructure Development Company (Infraco), designed to raise as much as N15 trillion ($36.7 billion) for infrastructural projects and to accelerate growth.

Vice President Yemi Osinbajo
President Muhammadu Buhari about a fortnight ago, had approved the establishment of the Infraco, a Public-Private Partnership-styled infrastructure company with an initial seed capital of N1 trillion, to tackle Nigeria’s growing infrastructure deficit.
A report yesterday by Bloomberg quoted a source as saying that the Central Bank of Nigeria (CBN) and its funding partners, the Africa Finance Corporation (AFC) and Nigeria Sovereign Investment Authority (NSIA), are seeking proposals from companies to independently manage the infrastructure company’s capital-raising plan.
The Infraco will help fund projects from roads to railways and power plants.
The fund manager will be responsible for coordinating the total equity capital and associated debt raise required by the company, according to the source.
Asset managers seeking the role must have been active in infrastructure financing.
“We need to be innovative in our approach to developing our infrastructure in Nigeria,” Mr. Godwin Emefiele, CBN governor, said in a text message sent by an official from the institution.
“We believe that Infraco will be a major game-changer in this regard.”
Already, PricewaterhouseCoopers, Boston Consulting Group, McKinsey and KPMG have expressed interest in being transaction advisers in the deal, according to the source.
Ukiri Lijadu and Co. and Kenna Partners have been appointed legal advisers, the source said.
PricewaterhouseCoopers and KPMG didn’t immediately answer calls seeking comment on Wednesday, while calls to Ukiri Lijadu and McKinsey didn’t connect. Representatives at Kenna Partners and BCG couldn’t comment straight away when called.
Nigeria plans to boost infrastructure investments to stimulate economic growth after exiting its second recession in four years in the fourth quarter.
The nation needs at least $3 trillion over 30 years to close its infrastructure deficit, Moody’s Investors Service said in a November report.
Already, Vice President Yemi Osinbajo has been saddled with the responsibility of heading a steering committee to facilitate the take-off of the company.
Mr. Laolu Akande, Osinbajo’s media assistant, had said in a statement at the time that Infraco would grow to N15 trillion in assets and capital and that it would be one of the premier infrastructure finance entities in Africa to be wholly dedicated to Nigeria’s infrastructure development.
According to him, the initial seed capital for the entity will come from the CBN, the NSIA and the AFC.
Akande had stated: “The board of Infra-Co will be chaired by the central bank governor and include the Managing Director of the Nigerian Sovereign Investment Authority, President of the Africa Finance Corporation, as well as representatives of the Nigeria Governors’ Forum, and the Ministry of Finance, Budget and National Planning. The board will also have three independent directors from the private sector.
“To address Nigeria’s infrastructure deficit, the Buhari administration continues to explore innovative options, including through financing initiatives such as the Presidential Infrastructure Development Fund (PIDF), designed to cater for the second Niger Bridge, the Abuja-Kaduna-Zaria-Kano Expressway, and other projects.
“There is also the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme which is being used for the funding of the Bodo-Bonny bridges and road (with the Nigeria Liquefied Natural Gas, NLNG), and the Apapa-Oshodi-Oworonshoki Expressway (with Dangote Group), among others.
News
US Begins Partial Visa Ban on Nigerians January 1

The United States will begin a partial suspension of visa issuance to Nigerians from January 1, 2026, following a new presidential proclamation aimed at strengthening border and national security.

The US Mission in Nigeria announced on Monday that the restriction will take effect at 12:01 a.m. Eastern Standard Time in accordance with Presidential Proclamation 10998, titled ‘Restricting and Limiting the Entry of Foreign Nationals to Protect the Security of the United States.’
According to the mission, Nigeria is one of 19 countries affected by the measure.
Others listed are Angola, Antigua and Barbuda, Benin, Burundi, Cote d’Ivoire, Cuba, Dominica, Gabon, The Gambia, Malawi, Mauritania, Senegal, Tanzania, Togo, Tonga, Venezuela, Zambia and Zimbabwe.
The proclamation provides for a partial suspension of visa issuance covering nonimmigrant B-1/B-2 visitor visas, as well as F, M and J student and exchange visitor visas.
It also applies to immigrant visas, though with limited exceptions.
The statement read in part, “Effective January 1, 2026, at 12:01 a.m. EST, in line with Presidential Proclamation 10998 on “Restricting and Limiting the Entry of Foreign Nationals to Protect the Security of the United States,” the Department of State is partially suspending visa issuance to nationals of 19 countries – Angola, Antigua and Barbuda, Benin, Burundi, Cote D’Ivoire, Cuba, Dominica, Gabon, The Gambia, Malawi, Mauritania, Nigeria, Senegal, Tanzania, Togo, Tonga, Venezuela, Zambia, and Zimbabwe – for nonimmigrant B-1/B-2 visitor visas and F, M, J student and exchange visitor visas, and all immigrant visas with limited exceptions.”
US officials clarified that the policy does not apply to all travellers. Exemptions include immigrant visas for ethnic and religious minorities facing persecution in Iran, dual nationals applying with passports from countries not affected by the suspension, and Special Immigrant Visas for eligible US government employees.
Other exempted categories include lawful permanent residents of the United States and participants in certain major international sporting events.
The US government emphasised that the proclamation applies only to foreign nationals who are outside the United States on the effective date and who do not hold a valid US visa as of January 1, 2026.
“Foreign nationals, even those outside the United States, who hold valid visas as of the effective date are not subject to Presidential Proclamation 10998. No visas issued before January 1, 2026, at 12:01 a.m. EST, have been or will be revoked pursuant to the Proclamation,” the statement added.
Visa applicants from affected countries may continue to submit applications and attend interviews. However, the US Mission noted that such applicants “may be ineligible for visa issuance or admission to the US” under the new rules.
The announcement comes amid a series of recent US policy decisions that have raised concerns among Nigerians seeking to travel, study or migrate to the country.
In October, the United States added Nigeria back to its list of countries accused of violating religious freedom, citing persistent insecurity and attacks on Christian communities. This was followed by Nigeria’s inclusion on a revised US travel ban list that imposed partial entry restrictions on Nigerians.
The US has also tightened immigration and visa policies affecting Nigerians. Earlier this year, the validity of most non-immigrant visas issued to Nigerians was reduced to single-entry visas with a three-month duration.
News
DPLAN Threatens NDPC with Legal Action for Setting aside $32.8m Meta Fine


The pre-action notice was signed by Emmanuel Okpara, Esq., Litigation and Compliance Director, and Mus’ab Awwal Mu’az, Esq., secretary of the Association’s Steering Committee.
The dispute stemmed from a consent judgment delivered on November 3, 2025, by Justice J.K. Omotosho of the Federal High Court, Abuja, in Suit No: FHC/ABJ/CC/355/2025 between Meta Platforms, Inc. and the NDPC.
Following investigations conducted under the Nigeria Data Protection Act (NDPA), 2023, the NDPC had issued a Final Order against Meta Platforms, Inc., finding “widespread violations of the data protection and privacy rights of approximately 61 million Nigerians,” and imposing a remedial fine of USD 32,800,000.
The pre-action notice was signed by Emmanuel Okpara, Esq., Litigation and Compliance Director, and Mus’ab Awwal Mu’az, Esq., Secretary of the Association’s Steering Committee.
The dispute stemmed from a consent judgment delivered on November 3, 2025, by Justice J.K. Omotosho of the Federal High Court, Abuja, in Suit No: FHC/ABJ/CC/355/2025 between Meta Platforms, Inc. and the NDPC.
Following investigations conducted under the Nigeria Data Protection Act (NDPA), 2023, the NDPC had issued a Final Order against Meta Platforms, Inc., finding “widespread violations of the data protection and privacy rights of approximately 61 million Nigerians,” and imposing a remedial fine of USD 32,800,000.
The NDPC investigation stemmed from a petition filed at the commission on August 14, 2023, against Meta Platforms Inc. by the convener of Personal Data Protection Awareness Initiative, Ozoemena Nwogbo, regarding violation of the Nigeria Data Protection Act.
After its investigation, NDPC found Meta Platforms Inc. wanting and, on February 18, 2025, issued nine Final Orders against Meta Platforms Inc.
NDPC’s Order
The NDPC’s order nine reads, “Meta shall pay the naira equivalent of 32,800,000 USD (Thirty-two million, eight-hundred thousand United States Dollars) as a remedial fee. The naira equivalent shall be at the rate determined by the Central Bank of Nigeria.
“The details of the account for payment of the remedial fee are as follows: Account Name: Nigeria Data Protection Commission Fund Account. Account Number: 0020331265048 (300131267). Use RTGS for payment.”
The NDPC added, “Note that Meta has a right to seek a judicial review of this decision. The Commission will closely monitor Meta’s remediation process and its impact on data subjects for upwards of six months.”
However, the Final Order was subsequently set aside through Terms of Settlement, which were adopted by the court as a consent judgment on November 3, 2025, following a suit marked FHC/ABJ/CS/355/2025, filed by Meta Platforms Inc. against the NDPC.
Part of the Terms of Settlement entered between NDPC and Meta Platforms Inc. reads, “The applicant (Meta Platforms Inc.) and the respondent (NDPC) have come to a mutual settlement agreement that resolves the dispute underlying the applicant’s originating Summons.
“Pursuant to this agreement: (I) the applicant has agreed to provide specific remedial consideration to the respondent in support of protecting the rights of data subjects in Nigeria; and (II) the respondent has inter alia agreed to set aside and waive any rights to enforce or take steps to enforce the Final Orders against the applicant.”
The settlement terms specifically read, “In the light of the foregoing: The applicant wholly and completely terminates, abandons, withdraws, and discontinues the Originating Summons as well as any and all claims against the respondent connected to or arising from the matters or the subject matter thereof, except as the parties have otherwise agreed.
“The respondent: (I) sets aside the Final Orders against Meta; and (II) save and except as the parties have otherwise agreed, fully and firmly releases and discharges Meta from any and all claims, demands, actions, causes of action, contracts, obligations, suits, debts, costs, liabilities, which the respondent ever had, may now have, or May hereafter claim to have against Meta in respect of the matters.”
Association Alleges Illegality In Settlement
But the Data Privacy Lawyers Association contended that the consent judgment was entered into unlawfully, arguing that it was done without lawful statutory authority, in violation of the Nigeria Data Protection Act, 2023, and in derogation of the constitutional right to privacy guaranteed under Section 37 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).
The Association further said the action was taken “to the grave prejudice of millions of affected Nigerians and the public interest, as well as the Federal Government of Nigeria.”
In the notice, the Association warned that unless the issues raised are urgently addressed within the statutory notice period, it would approach the Federal High Court to seek multiple reliefs.
These include an order setting aside, vacating, and nullifying the consent judgment on grounds of fraud, collusion, material non-disclosure, lack of statutory authority, and violation of the NDPA, 2023.
It is also seeking a declaration that the consent judgment is “null, void, unconstitutional, and of no legal effect,” as well as a declaration that the NDPC lacks statutory authority to waive, compro
Other reliefs sought include an order restoring and reviving the Final Order against Meta Platforms, including the $32.8 million fine, and an order restraining any further reliance on or enforcement of the consent judgment.
The Association also asked the court for other orders the Court may deem fit in the interest of justice, public accountability, and the protection of constitutional rights.
In the interest of transparency and accountability, the Association urged the NDPC to provide a written explanation of the legal basis for entering into the Terms of Settlement, clarify the statutory authority relied upon to waive the remedial fine and set aside the Final Order, and take steps to remedy the issues raised.
The letter, the Association said, constitutes the requisite pre-action notice under applicable law.
It warned that unless the concerns are satisfactorily addressed within 30 days of receipt of the notice, it will proceed to institute legal proceedings without further recourse.
mise, or extinguish liabilities, sanctions, or remedial fines arising from established violations of the Act.
News
Glo Extends Christmas Greetings, Urges Unity and Care for Others

As Christians in Nigeria and around the world mark the birth of Jesus Christ, Globacom has extended warm Christmas greetings, describing the season as one of goodwill and togetherness.

Reflecting on the significance of Christmas in a message released on Tuesday, the technology company said the period offers an opportunity for renewal, calling on Christians to uphold the values embodied by Jesus Christ, including love, humility and compassion for humanity.
Globacom noted that the circumstances of Christ’s birth continue to offer timeless guidance for society. “The noble yet humble birth of Jesus teaches virtues such as obedience to God, humility, love for mankind and a strong commitment to the common good. We encourage Christians to consciously practise these virtues as true followers of Christ,” the company stated.
Against the backdrop of today’s social and economic challenges, the company emphasized the shared responsibility of people of goodwill to care for others and to give generously, pointing to Christ’s acts of compassion, including his feeding of multitudes as recorded in the Bible.
Beyond the celebrations, Globacom urged Nigerians to sustain the true spirit of Christmas by consistently demonstrating love, promoting peace and fostering harmony—values that defined Christ’s life and teachings.
The company also wished its customers and Nigerians at large a joyful Christmas, while reaffirming its commitment to delivering reliable, high-quality services throughout the festive period and beyond, urging customers to take advantage of its wide range of innovative products and services to stay connected and share the joy of the season with loved ones.
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