Author: user user

MTN’s FibreX to empower remote workers, gamers, startups with unlimited internet

MTN Nigeria’s FibreX broadband initiative is set to empower remote workers, gamers, and digital startups by connecting over 8 million homes with high-speed, unlimited internet by 2028.

This expansion aims to transform Nigeria’s digital landscape, providing seamless connectivity to fuel productivity, creativity, and innovation across the country.

Launched in April 2025 as a rebrand of MTN’s earlier fibre broadband service, FibreX is designed to provide ultra-fast, low-latency internet through fibre-to-the-home (FTTH) and fibre-to-the-business (FTTB) networks.

Egerton Idehen, MTN Nigeria’s chief broadband officer, emphasized the initiative’s focus on enhancing digital lifestyles during a webinar media briefing.

‘We are building a broadband experience for everyday life: for content creators, remote workers, and students alike. FibreX offers unlimited data and consistent speed, eliminating the frustration of data depletion that hinders productivity and creativity,’ Idehen said.

The initiative targets urban and semi-urban areas, catering to the growing needs of Nigeria’s digital workforce and tech-savvy youth. Remote workers, who rely on seamless connectivity for virtual meetings and cloud-based tools, will benefit from FibreX’s reliable, high-speed internet. Gamers, too, stand to gain from low-latency connections that ensure smoother online experiences, while content creators can upload and stream high-quality media without interruptions.

For Nigeria’s burgeoning startup ecosystem, FibreX is a game-changer. Micro, small, and medium enterprises (MSMEs) and digital startups, which form the backbone of the country’s growing digital economy, will gain access to robust connectivity to scale operations, reach global markets, and innovate.

‘This is about empowering people to connect and thrive in the digital economy,’ Idehen added.

MTN’s FibreX aligns with Nigeria’s National Digital Economy Policy and Strategy (NDEPS), supporting the government’s push for enhanced connectivity to drive economic growth. The telco is collaborating with infrastructure companies, state governments, and local contractors to accelerate last-mile connectivity, ensuring broadband reaches homes, offices, and communities efficiently.

However, challenges such as fibre vandalism and community resistance pose hurdles to the rollout. To address affordability, MTN is prioritizing high-demand clusters like residential estates, where collective adoption can reduce costs. ‘It is more cost-effective to connect 10 or 20 homes at once than one at a time,’ Idehen explained.

With Nigeria’s internet penetration currently at 43 percent and a target of 70 percent by 2025 under the National Broadband Plan, MTN’s FibreX is poised to play a pivotal role in closing the digital divide. By 2028, the initiative aims to transform Nigeria’s internet backbone, enabling millions to work, play, and innovate in a connected world.

FG unveils national digital trustmark to tackle fraud in $13bn e-commerce market

The federal government has launched a National Digital Trustmark to enhance consumer confidence and promote transparency in Nigeria’s $13 billion e-commerce sector.

The initiative is being implemented in partnership with key regulatory bodies, including the Corporate Affairs Commission (CAC), Central Bank of Nigeria (CBN), and Nigerian Communications Commission (NCC).

Kashifu Abdullahi, Director General of the National Information Technology Development Agency (NITDA), announced the launch on Thursday in Abuja.

The portal, developed by NITDA in collaboration with the German Development Cooperation (GIZ) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Trustmark provides a verifiable certification for legitimate online businesses.

Abdullahi stated that the Trustmark will help curb online fraud, identity theft, scams, and forgery, while fostering trust and integrity in Nigeria’s digital business space.

According to him, ‘The National Digital Trustmark has become essential in light of growing global concerns around online and e-commerce activities involving Nigerians.’

He expressed concern over the negative perception of Nigerians as fraudsters due to recurring cases of online scams, such as customers making payments without receiving goods or receiving items that do not meet advertised specifications.

Abdullahi explained that the Trustmark, supported by GIZ and NACCIMA, is designed to address such challenges. It will serve as a security seal issued by NITDA to certify and authenticate digital businesses.

The seal will be displayed on platforms, letterheads, and websites to verify registered companies or entities operating in Nigeria, with at least one identifiable office.

He noted that while the certification is not mandatory, it will involve a fee based on business size and specialization. The registration portal is expected to open next week.

Tijani Ibrahim, President of NACCIMA-represented by Suleiman Audu, Special Adviser on Digital Economy Trade Group-described the seal as a step toward building a safer and more competitive digital economy.

He assured that NACCIMA, in collaboration with stakeholders such as SMEDAN, NAFDAC, and SON, would ensure smooth implementation, free from bureaucratic hurdles.

Chinedu Albert, a GIZ representative, said the Trustmark certification would be renewed annually to maintain transparency and accountability. He described the initiative as a model for public-private partnerships.

Albert highlighted that Nigeria’s e-commerce market accounts for just 0.055% of the $27 trillion global market-a figure largely attributed to trust issues.

The Trustmark, he said, directly addresses this and aligns with the African Continental Digital Trade Protocol, which encourages cross-border trust mechanisms to support intra-African trade.

He emphasized that both public and private online businesses would be eligible for the seal, which aims to eliminate fraud and illicit transactions in Nigeria’s digital space.

Albert also noted that while Nigeria is often associated with online fraud, some of the activities have been traced to foreign nationals.

He added that similar seals are already being implemented in countries like Rwanda to combat cyber fraud, identity theft, and data mismanagement.

We can transform our tourism sector into major economic hub – Expert

An expert in Tourism Diplomacy, Dahiru Bala says Nigeria can transform its tourism sector into a major economic driver, creating millions of job opportunities and generating revenue.

Bala also said that tourism can help showcase the nation’s rich cultural and natural heritage to the world when fully developed.

Bala who is the Chairman, Cultural and Diplomacy Council spoke on the sidelines of the take-off of a continental tour to Ethiopia by the Director, International Society of Diplomats Tourism Directorate on Thursday in Abuja.

He noted that Nigeria is sitting on a goldmine via its tourism sector, brimming with untapped potentials that offer a wealth of opportunities for economic diversification and growth.

‘From hotels to restaurants, the benefits of a thriving tourism industry cut across various sectors, as the sector expands, construction, transportation, and even casual labour markets experience a positive boost,” he said.

According to him, ‘Once an entire economy is built on the process of tourism, even casual labourers and tour guides provide employment opportunities.

This, he said highlights the widespread economic impacts of a flourishing tourism sector.

He also lamented Nigeria’s currently underutilising its vast array of tourist sites due to lack of adequate infrastructure and security.

He said Nigeria is not investing enough in harnessing the tourism sectors.

‘Tourists prioritise safety and accessibility and without these fundamental elements, our potential remains untapped,” he said.

He pointed out the need to prioritise first-class infrastructure with well-maintained roads, state-of-the-art technology, integrating advanced tech to enhance the tourist experience and modern amenities to ensure ease of access.

He called on security agencies to ensure adequate security for the safety of tourists.

‘Global promotion, actively promoting Nigeria’s tourism potentials at international events and lastly, media investment, showcasing our sites through various media channels,” he said.

‘Consider the untapped potentials of the Yusufari desert in Yobe, which could rival the desert experiences of Dubai.”

He said by implementing these strategies, Nigeria can unbundle the strength in her potentials and unlock the boundless opportunities that await us as a nation.

The Project Director, Amb. Phil Roberts noted that the title of the project ‘Tourism Across Africa: Uniting Cultures, Connecting Destinations is borne out of the trans-African story aimed at exploring and promoting Africa’s untapped tourism potentials.

He explained that the 30-day journey from Abuja to Ethiopia is entirely by road and will be showcasing Africa’s interconnectivity and rich cultural corridor, with stop overs in local communities to spotlight hidden destinations and engage with tourism stakeholders.

The project will position Africa as a unified travel destination for both Africans and the global community, it’s not just going to cover distance and it will build bridges across cultures, promoting Africa’s diverse beauty while inspiring a new narrative of African-led tourism development.

‘Currently in Congo, heading towards Uganda, with strong interest from local media, hospitality businesses, and youth groups, i have been widely received as ‘Tourism Peace Envoy’ with calls for collaboration across borders.

‘We are creating a documented travel route from West to East Africa, demonstrating that Intra-African tourism beyond mainstream destinations is possible, but more importantly, that peaceful cross-border relations and partnerships are possible without walls,’ he said.

Farouk Lawan praises Tinubu for presidential pardon, says his hope is renewed

Farouk Lawan, former member of the House of Representatives, has expressed deep gratitude to President Bola Ahmed Tinubu for granting him a presidential pardon, describing the gesture as a renewal of hope and restoration of faith in the country.

President Tinubu granted clemency to Lawan and several others on Thursday.

Lawan, who represented the Bagwai/Shanono constituency of Kano State, was at the centre of a major corruption scandal in 2012 after he was accused of demanding a $3 million bribe from billionaire businessman Femi Otedola.

The payment was allegedly to facilitate the removal of Otedola’s company, Zenon Petroleum and Gas Limited, from the list of firms implicated in the petrol subsidy fraud.

At the height of the controversy, videos circulated widely on social media showing Lawan stuffing wads of cash into his traditional outfit and under his cap.

He was subsequently arraigned on seven counts of bribery by the Independent Corrupt Practices and Other Related Offences Commission (ICPC). In June 2021, a Federal Capital Territory (FCT) High Court in Apo convicted him on three counts and sentenced him to seven years in prison.

In February 2022, the Court of Appeal discharged and acquitted Lawan on two of the three counts but upheld his conviction on one count, reducing the sentence to five years. The Supreme Court, in January 2024, affirmed the appellate court’s judgment.

Lawan completed his five-year prison term in October 2024.

Reacting to his pardon in a statement, the former lawmaker described Tinubu as ‘a fatherly, compassionate, and decisive political leader.’

‘To a fatherly, compassionate, and decisive political leader, His Excellency, President Bola Ahmed Tinubu, GCFR, God, and history shall remember you,’ he said.

‘Mr President has cast a warm blanket over me, pulling me back from the harshness of yesterday’s cold. A day like this is not for a long treatise. I lie, prostrate utterly humble in my heart and entire being, grateful for the mercy which Allah (SWT), through Mr. President and my country have shown me.’

Reflecting on his ordeal, Lawan acknowledged his family and supporters for standing by him. ‘During the eclipse at noon of my life, a path designed by destiny, a past with which I am fully reconciled, my family, friends and associates stood by me through thick and thin, their light became my singular unfailing beacon. I remain eternally indebted to you. May Allah (SWT) recompense you.’

He added that his faith in Nigeria’s potential never wavered. ‘Throughout those moments of sober reflection, my faith in the greatness of our Fatherland never wavered, nor did my resolve to contribute to it ever weaken. A re-dedication to the ideals of Nigeria is upon me. My hope is renewed.’

Lawan said the pardon has restored his sense of purpose and commitment to national service. ‘My family and I, along with my friends and associates in Kano State and across Nigeria, are indescribably grateful to Mr. President for drafting me back into active citizenship with its unavoidable service imperative.’

LSB honors nation-builders on National Teachers’ Day

Legazpi Savings Bank (LSB), a subsidiary of the Bank of the Philippine Islands (BPI), placed teachers at the heart of this year’s National Teachers’ Day Culminating Activity held at the SM Mall of Asia Arena, where over 12,000 educators and education leaders nationwide gathered to celebrate the invaluable role of Filipino teachers.

Spearheaded by the Department of Education (DepEd) under the leadership of Secretary Juan Edgardo ‘Sonny’ M. Angara, the program carried the theme ‘My Teacher, My Hero.’ The event served as a heartfelt tribute to educators who shape lives every day and provided an opportunity for LSB to reaffirm its lifelong commitment to supporting teachers both inside and outside the classroom. No less than President Ferdinand R. Marcos, Jr. graced the occasion as the keynote speaker.

‘Amplifying DepEd’s theme, our rallying mantra for this celebration was ‘Teacher, ikaw naman ngayon.’ This goes beyond LSB-it reflects the collective heartbeat of BPI and the Ayala Group, coming together with gratitude and purpose to honor those who have devoted their lives to teaching and nurturing generations,’ said Jerome Minglana, LSB President.

Supporting teachers through financial empowerment

In line with this commitment to the education sector, LSB continues to develop and offer financial solutions designed to empower teachers. During the event, the bank highlighted this advocacy through an audiovisual presentation that underscored how its dedicated services can help educators better manage their financial needs, allowing them to focus on what matters most: nurturing the next generation of Filipinos.

‘Our goal has always been to provide teachers with faster, simpler, and more reliable financial services to empower the teachers to achieve their goals and aspirations. Through these efforts, we hope to give back to those who continue to help shape dreams and build futures,’ said Minglana.

Deepening partnership with DepEd

LSB’s presence at this culminating event reflects its growing collaboration with the Department of Education (DepEd). Throughout the year, LSB has actively supported the education sector through various initiatives, including:

Donated laptops to enhance digital learning last February 2025

Supported the Palarong Pambansa in Ilocos Norte last May 2025

Participated in Brigada Eskwela activities nationwide last June 2025

Supported the National Teachers’ Month celebrations in Mindanao (Koronadal) and Visayas (Dumaguete)

One BPI, One Ayala for Teachers

In partnership with BanKo, BPI AIA, other BPI groups such as Consumer Banking (Motorsiklo and Housing Loans),Digital Platform (VYBE by BPI), and members of the Ayala Group of companies specifically AC Health, GCash, Avida,Amaia, ACEN, AC Logistics, and Globe, LSB mounted an engaging tribute for teachers-complete with booths, games, giveaways, and raffle prizes.

‘By partnering with DepEd and our colleagues in BPI and the Ayala Group, we are not only celebrating teachers but also giving them meaningful support,’ said Elfren ‘Boyie’Sarte, LSB Chairman. ‘This is a testament to our collective commitment to nurture those who nurture the nation, in line with our vision of building a better Philippines-one family, one school, one community at a time.’

With 6th CA order, AMLC has frozen ?4.67-B assets tied to FCP mess

THE Anti-Money Laundering Council (AMLC) has so far frozen a total P4.67 billion worth of assets linked to alleged anomalies in flood control projects (FCP), after securing its sixth freeze order from the Court of Appeals.

In a statement on Friday, the AMLC said the latest order covers 39 bank accounts, four insurance policies and 59 real estate properties, including residential, commercial and agricultural assets.

Some of these properties are connected to a former high-ranking government official suspected of playing a central role in the procurement of questionable flood control contracts.

‘We are taking deliberate actions to preserve assets potentially linked to unlawful activity,’ AMLC Executive Director Atty. Matthew M. David was quoted in the statement as saying.

‘Our focus remains on ensuring that public funds are protected and that those involved are held accountable through lawful and transparent processes,’ David added.

This sixth freeze order builds on earlier directives that already immobilized 1,671 bank accounts, 58 insurance policies, 163 motor vehicles, 99 real properties and 12 e-wallet accounts.

Collectively, these frozen assets amount to a total of P4.67 billion, with the AMLC anticipating the figure to increase as additional orders are secured and new leads are uncovered.

Last October 8, the AMLC received its fifth freeze order from the CA covering several bank accounts, linked to persons-of-interest, including an entity whose license had allegedly been used in implementing ghost projects.

Moreover, the AMLC said it is coordinating closely with the Independent Commission for Infrastructure, the Office of the Ombudsman, the Bureau of Internal Revenue and the National Bureau of Investigation.

‘The multi-agency effort includes a review of individuals and entities flagged during recent Senate hearings, underscoring the government’s commitment to a thorough and impartial inquiry,’ it said.

With the freeze order, banks can now examine their systems, determine the amounts stored in the covered accounts and report these to the AMLC.

According to David, the freeze order is a step toward the filing of civil and criminal cases, including efforts to recover funds possibly moved before the directive took effect.

The freeze order can only be lifted if the account or asset owners file a motion to lift the effects of the freeze order over their accounts or assets.

House okays ?6.793T ‘transparent’ 2026 budget, cuts OVP budget by ?156M

THE House of Representatives on Friday approved the proposed P6.793-trillion 2026 General Appropriations Bill (GAB), or House Bill 4058, on second reading, while implementing a cut to the budget of the Office of the Vice President (OVP).

The lower chamber adopted the recommendations of the Budget Amendments Review Subcommittee (BARC) as amendments to the GAB, including a major adjustment aimed at ensuring transparency in the use of unprogrammed funds.

The 2026 GAB was approved on second reading through viva voce voting.

One of the key amendments is the reduction of the OVP budget, which was proposed by House Deputy Minority Leader of the Mamamayang Liberal (ML) Leila De Lima during the period of individual amendments to the national budget.

‘I proposed an amendment to reduce the OVP’s budget from P889.24 million to its 2025 level of P733.2 million, a cut of P156 million, or 17.5 percent,’ De Lima said, citing GAB Volume I-A, Page 22, Line 19.

She emphasized the principle of accountability in the use of public funds. ‘Every peso in this budget is the people’s money. And when we demand accountability, we do so not out of hostility, but out of duty-duty to the Constitution, duty to the people, and duty to the truth,’ she said.

The lawmaker criticized Vice President Duterte for refusing to appear before the chamber. ‘Her repeated refusal to face this House is an insult. It spits on the duty of accountability while she clings to millions in public funds she refuses to explain. This is arrogance,’ she said, drawing a comparison to a child refusing to account for the family allowance.

‘Congress holds the purse. And when a child squanders the family’s money without answers, the remedy is clear: reduce the allowance until they learn responsibility,’ she added.

The lawmaker clarified that the budget cut is meant as a disciplinary measure, not an attempt to dismantle the OVP. ‘This is discipline, not demolition. Public money is not a toy. It is a trust. And until the vice president learns respect, this House must act as the parent that disciplines a brat,’ she said, contrasting the measure with past actions taken against the Commission on Human Rights.

Unprogrammed appropriations

Also, one of the amendments is the removal of P35 billion worth of infrastructure projects from the 2026 unprogrammed appropriations, a move designed to prevent the misuse of lump-sum funds.

Nueva Ecija Rep. Mikaela Suansing, representing the House Committee on Appropriations, explained that the Department of Budget and Management (DBM) agreed with the House panel’s proposal to exclude infrastructure projects from the Strengthening Assistance for Government Infrastructure and Social Programs (SAGIP) as a safeguard against potential misuse.

She clarified that unprogrammed appropriations are now divided into two categories: SAGIP and support for foreign-assisted projects (FAPs). While infrastructure funding under SAGIP will be removed, projects under FAPs will remain to honor the Philippines’ commitments to foreign and multilateral partners such as the World Bank, Asian Development Bank (ADB), and Japan International Cooperation Agency (JICA).

Also, SAGIP will be now called the Strengthening Assistance for Government Programs (SAGP).

Suansing added that a significant portion of unprogrammed funds previously allocated under SAGIP has already been revised in the second reading of the GAB. Only P45 billion remain under the newly designated Strengthening Assistance for Social Programs (SAGP), primarily earmarked for agricultural subsidies, rice subsidies, and augmented funding for the 4Ps program administered by the Department of Social Welfare and Development.

She noted that FAP infrastructure projects remain under unprogrammed appropriations because they do not yet meet the criteria for inclusion in programmed allocations, which require finalized contracts with international partners and NEDA Board approval.

During the period of individual amendments, Akbayan Rep. Chel Diokno urged the House to eliminate all unprogrammed appropriations, which total P243.22 billion, arguing that if these funds were truly national priorities, they should be included in the programmed budgets of the relevant departments.

However, a motion to reject Diokno’s proposal, supported by the committee and the majority, was approved.

Key agencies

Another set of amendments to the national budget bill adopted by the plenary involves additional allocations for three key sectors: education, health, and agriculture.

Under the proposed amendments, the education sector-which covers the Department of Education (DepEd), Commission on Higher Education (CHED), Technical Education and Skills Development Authority (TESDA), State Universities and Colleges (SUCs), and the Philippine Science High School System (PSHS)-is set to

receive an extra P56.64 billion. This brings the sector’s 2026 budget to P1.36 trillion, or 4.36 percent of GDP, marking the first time it surpasses the 4-percent milestone.

The health sector, including the Department of Health (DOH) and PhilHealth, will see an increase of P92.57 billion. Meanwhile, the agriculture sector-which covers the Department of Agriculture (DA), National Irrigation Administration (NIA), and Department of Agrarian Reform (DAR)-will gain an additional P53.75 billion.

These budget boosts were made possible through the reallocation of P255 billion previously earmarked for flood control projects under the Department of Public Works and Highways (DPWH). Of this, P202.96 billion has been redirected to education and agriculture, with the remainder supporting other government agencies.

Speaker Faustino ‘Bojie’ Dy III on Friday assured the public that the House of Representatives has introduced key reforms to ensure full transparency and accountability in both the crafting and implementation of the proposed P6.793-trillion national budget for 2026.

The General Appropriations Bill (GAB) is targeted for final approval on third reading by Monday, October 13.

COA files 4 more fraud reports with ICI, covering ?359-M Bulacan works

THE Commission on Audit (COA) said on Friday it has filed four additional fraud audit reports with the Independent Commission for Infrastructure (ICI), uncovering mismatched construction sites, substandard structures, and ghost projects worth over P359 million in Bulacan province.

The latest reports, filed on Friday, still focused on flood control projects under the Department of Public Works and Highways’ (DPWH) Bulacan 1st District Engineering Office (DEO).

According to the commission, state auditors discovered a pattern across the four projects: DPWH representatives repeatedly ‘redirected’ them to different locations from the approved project sites, offering ‘no explanations’ for the changes.

In one case involving M3 Konstract Corp.’s P96.4-million riverbank protection project in Barangay San Roque, Baliuag, auditors found existing structures at both the approved and redirected locations, but neither matched the contracted project.

The structure at the redirected site already showed defects and cracks, and belonged to an entirely different project.

‘Aside from these findings, DPWH-Bulacan 1st DEO failed to submit a significant number of critical supporting documents to COA. In particular, DPWH-Bulacan 1st DEO submitted conflicting documents regarding the contract cost, variation order amount and name of the actual contractor designated to carry out the variation order,’ the report read.

Likewise, state auditors found that the P92.6-million flood control site in Barangay Manatal, Pandi had no structure at the approved location. The project proponent was SYMS Construction and Trading.

The project was redirected to a different location, but had ‘unfinished structure with exposed steel bars,’ and that there were no workers or equipment at the location during inspection.

According to the auditors, the same was true for another SYMS projects in Balagtas worth P74.1 million: There were no structures on the original site and those that were built on the redirected site ‘utterly failed to meet the project specifications.’

‘COA also discovered that based on DPWH’s own database, the project was tagged as ongoing, yet full payment was already made to the contractor,’ state auditors noted. ‘These findings, taken together, point to the fact that this is a ghost project.’

The fourth project, a P96.4-million riverbank protection structure contracted to Amethyst Horizon Builders, followed a similar pattern: mismatched locations, structures that didn’t conform to approved plans, and missing documentation.

The fraud reports name numerous DPWH-Bulacan 1st District Engineering Office personnel and private contractors as liable parties.

Appearing across multiple reports are former officials, namely: District Engineer Henry C. Alcantara, Assistant District Engineer Brice Ericson D. Hernandez, Planning and Design Chief Ernesto G. Galang, and Engineer John Michael E. Ramos.

For the M3 Konstract Corporation project, those found liable include Alcantara, Hernandez, Engineer Irene DC. Ontingco, Engineer Jaypee D. Mendoza, Galang, Engineer Jefferson S. Buendia, Engineer Prince Earl P. Deocampo, Ramos, and Louis Raphael DG. Tiqui of M3 Konstract Corp., along with the company’s officers and board members.

The auditors listed the following as liable for the two SYMS projects: Alcantara, Hernandez, Galang, Ramos, Ontingco, Buendia, Project Engineer Lemuel Ephraim SD. Roque, Engineer Jolo Mari V. Tayao, Engineer Michelle C. Cruz, and Sally N. Santos of SYMS Construction Trading.

Lastly, for the Amethyst project, the COA listed the following as liable: , Hernandez, Galang, Ontingco, Ramos, Mendoza, Cruz, Engineer Jasmine Jean I. Gonzaga, and Rochelle R. Campos of Amethyst Horizon Builders and Gen. Contractor and Development Corp., along with the company’s officers and board members.

The individuals face potential charges for graft and corruption under the Anti-Graft and Corrupt Practices Act, malversation, falsification of documents under the Revised Penal Code, and violations of COA regulations and the Government Procurement Reform Act.

COA emphasized that the list of liable persons ‘is not final and may expand as the audit progresses, or new information becomes available.’

Since COA Chairperson Cordoba’s directive on August 12, ordering an immediate audit of all DPWH flood control projects in Bulacan covering the period from July 1, 2022, to May 30, 2025, the COA has transmitted 21 reports to the ICI and the Ombudsman.

‘Today’s filing sends an unequivocal message: COA remains relentless in its mandate to safeguard the people’s money and uphold public trust,’ he said.

On Thursday, DPWH Secretary Vince Dizon said the agency has uncovered 421 ghost flood control projects out of the 8,000 initially validated.

To recall, the government started the crackdown on alleged ghost projects after President Marcos Jr.’s State of the Nation Address (Sona) in July.

Since then, investigations into the flood control corruption scandal have implicated numerous lawmakers, contractors, public works officials, and auditors.

Some have been charged with graft and malversation cases.

IBC eyeing privatization once ?430 million labor liabilities paid

THE Intercontinental Broadcasting Corporation (IBC) is eyeing to finally undergo privatization after it settles its remaining almost P430 million remaining labor-related liabilities and the evaluation of its current assets by next year.

The amount is part of the over P1.1 billion worth of augmentation or ‘insertions’ being requested by the Presidential Communications Office (PCO) from the Senate to its P2.8-billion budget under the 2026 National Expenditure Program.

During the Senate budget hearing on Friday, PCO Acting Secretary Dave M. Gomez said that P428 million of the amendments in the 2026 proposed budget will be used as payment for the retirement benefits of 167 IBC Employees.

IBC 13 President and CEO Jose Policarpio, Jr. explained that it will be used to pay for the backpay of the workers, as ordered by the National Labor Relations Commission (NLRC).

He explained they were able to pay the first tranche of P230-million retirement benefits this year.

‘We have to retire all of them. We want to save P89 million and because this P89 million comprise of different benefits because during the previous owners of [IBC], they have low wages, but generous benefits. But we were [overtaken] by the decision of the NLRC to pay them a series of wage adjustments,’ Policarpio explained.

He noted they want to settle all of the labor-related claims as well as six remaining labor cases of IBC so they can start its privatization.

IBC is currently an attached government-owned and controlled corporation (GOCC) under the PCO.

Policarpio said they submitted a privatization plan to the Technical Working Group composed by the Department of Budget and Management, Governance Commission for GOCCs, Office of the Government Corporate Counsel, IBC, PCO, Office of the Government Corporate Counsel, and the Department of Finance.

‘Nobody will buy a company with such a big problem. But under our management, we were able to bring down its liability from P1.5 billion to P500 [million], but still depending on the problem of the payment of the new set of retirees, P428 million.I presume once we have finished all these problems, I assume the Office of the Executive Secretary or the Office of the President [will] probably push for privatization [of IBC],’ he said.

He said President Ferdinand Marcos Jr’s signing of Republic Act No. 12311, which extended the franchise of IBC by another 25 years, will boost the chances of the privatization of the said television network.

‘The franchise is a big factor in adding more value to the company. Plus of course, the biggest factor that will enable or invite the prospective bidders would be to take out all the labor problems because no financial, no business sector, any businessman would buy a company with a lot of labor problems,’ Policarpio said.

The Privatization and Management Office is currently conducting an assessment of IBC in preparation for its privatization.

Senators Loren Legarda and Sherwin Gatchalian backed the privatization of the IBC since they said the People’s Television Network, the other state-controlled television network, is already sufficient for the government’s needs.

RCBC’s Lito Villanueva pushes API Ecosystems at WFIS 2025

Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer of Rizal Commercial Banking Corporation (RCBC) and Founding Chairman of FinTech Alliance.PH, called on finance leaders to embrace wider adoption of API ecosystems at the World Financial Innovation Series (WFIS) 2025.

An API ecosystem refers to an interconnected network of applications, services, and interfaces that enables seamless data exchange and collaboration across platforms. This architecture empowers developers and institutions to rapidly address market gaps, enhance resilience, and unlock new opportunities for inclusive innovation.

Addressing over 600 delegates from banks, regulators, microfinance institutions, and insurers, Villanueva underscored the urgent need to invest in interconnected API ecosystems to accelerate innovation, strengthen resilience, and drive financial inclusion.

‘Banks must evolve from mere service providers to orchestrators of expansive networks that unite fintechs, telcos, regulators, retailers, and grassroots entrepreneurs,’ he stressed. ‘APIs are not the finish line, the real value lies in building ecosystems. An API is a handshake, but an ecosystem is the enduring partnership that follows.’

Villanueva urged stronger collaboration and co-investments among financial institutions, regulators, and enterprises, calling APIs ‘national assets’ that must be unlocked to deliver real financial health to millions.

WFIS 2025, themed ‘Bridging Financial Gaps for a Digitally Smart Philippines,’ comes amid the government’s renewed push for a digital-first society, reinforced by President Ferdinand Marcos Jr.’s pledge to position the Philippines as a regional innovation hub.