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BSP tightens rules on digital-centric banks

The Bangko Sentral ng Pilipinas (BSP) is tightening capital and prudential requirements for thrift, rural and cooperative banks that are shifting toward digital banking models, seeking to ensure that faster-growing lenders maintain adequate safeguards.

Under Circular No. 1240 dated Sept. 21, existing thrift, rural and cooperative banks that the BSP determines are operating under a business model similar to that of a digital bank will be required to meet the P1-billion minimum capital requirement for digital banks, among other prudential standards.

The banks will have six months from receipt of the BSP’s notice to comply.

The same P1-billion minimum capital requirement will apply when a proposed acquisition is intended to transform a thrift, rural or cooperative bank into a technology-driven business model. The bank must also meet the prudential standards applicable to digital banks.

The BSP may impose additional safeguards, including enhanced supervisory reporting, restrictions on certain activities or new digital products and services, and stronger risk-management and internal-control systems.

The rules will apply to banks that meet either of two sets of conditions, according to the circular.

The first covers banks operating under a business model similar to that of a digital bank, as well as those whose capital and risk-management systems are no longer commensurate with their stated business model and risk profile.

The second covers banks that use digital platforms to deliver financial services while recording significant growth in their loan or deposit balances.

The new requirements were pushed through despite industry concerns that tighter rules could stifle innovation. The BSP said the updated rules are intended to ensure that these banks can adequately manage risks arising from the nature, scale, complexity and risk profile of their operations.

The circular also allows the BSP to issue additional digital bank licenses, including through the conversion of existing thrift, rural and cooperative banks, subject to the applicable licensing framework. A digital banking license would allow them to market their digital services to a broader customer base, including customers outside their usual geographic areas of operation.

Onoh appeals to Tinubu for intervention in El-Rufai’s legal matter

Former Southeast spokesman for the APC Presidential Campaign Council and Chairman of the Forum of Former Members of the Enugu State House of Assembly, Denge Josef Onoh, has appealed to President Bola Ahmed Tinubu to intervene in the legal matter involving former Kaduna State Governor, Mallam Nasir Ahmad El-Rufai.

Onoh made the appeal in an open letter addressed to Tinubu and formally routed through the Office of the President’s Chief of Staff, Rt. Hon. Femi Gbajabiamila.

In the letter, Onoh called for reconciliation and consideration of El-Rufai’s circumstances, while highlighting what he described as the former governor’s contributions to the All Progressives Congress (APC) and the 2023 presidential election campaign.

Onoh, who served as Southeast spokesman for Tinubu’s Presidential Campaign Council during the 2023 election, said El-Rufai played a significant role in the campaign and in mobilising support for the APC presidential candidate.

He also cited El-Rufai’s record in public office, including his tenure as governor of Kaduna State and his earlier service as Minister of the Federal Capital Territory.

According to Onoh, the former governor’s contributions to public life should be considered alongside the legal proceedings involving him.

He urged the President to consider reconciliation and other constitutional options available to the Federal Government in dealing with the matter.

Onoh referred to the constitutional powers of the President and the Attorney-General of the Federation, citing Sections 175 and 174 of the 1999 Constitution.

Section 175 provides for the President’s prerogative of mercy, including the power to grant pardons and remissions in specified circumstances, while Section 174 provides the Attorney-General of the Federation with powers in relation to the institution, continuation or discontinuation of criminal proceedings.

Onoh argued that exercising such constitutional powers, where legally applicable, could contribute to national reconciliation and political stability.

He also cited historical examples of presidential clemency, including former President Shehu Shagari’s 1982 pardon of the late Biafran leader, Dim Chukwuemeka Odumegwu-Ojukwu.

According to Onoh, such examples demonstrate the role reconciliation can play in addressing longstanding political divisions.

He appealed to Tinubu to consider El-Rufai’s circumstances from the perspective of national unity and reconciliation.

Onoh said his appeal stemmed from his longstanding relationship with El-Rufai and his belief that political differences should not prevent dialogue or consideration of humanitarian concerns.

He said he hoped the President would give the appeal due consideration in the interest of national unity and stability.

Sowore faults politicians’ shifting position on fuel subsidy

Presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has said politicians who keep shifting their positions on fuel subsidy are inconsistent.

This followed the latest declaration by the Nigeria Democratic Congress (NDC) vice-presidential candidate, Rabiu Kwankwaso, that the party, if elected, would restore subsidy in a different form.

Kwankwaso, who is the running mate to Peter Obi, spoke on a national television programme, where he maintained that the party would bring back subsidy ‘in our own way,’ if elected in 2027.

He criticised President Bola Tinubu’s removal of petrol subsidy, describing the action as a mistake that had plunged the country into a ‘total mess’. Kwankwaso said the NDC would explore measures to reduce petrol prices, including increased government investment in domestic refining.

The former Kano State governor argued that if private individuals could establish refineries, government could also build refineries to a level capable of meeting the country’s minimum requirements and making petrol available to Nigerians at a reasonable price.

His position has, however, sparked a fresh debate over the consistency of opposition politicians on the controversial subsidy policy.

But Sowore, who is also campaigning on a platform that seeks a return to subsidy, expressed a different view on the matter.

He said politicians were evasive on the matter, failing to show a clear position on where they stand.

The AAC candidate’s intervention comes against the backdrop of a policy difference between Kwankwaso and Obi.

While Kwankwaso said the NDC would reintroduce subsidy in a different form, Obi has maintained that subsidy should be removed, arguing that the problem was the way the policy was implemented and the failure to deploy the savings transparently.

Obi restated his position in August at this year’s Nigerian Bar Association (NBA) conference in Port Harcourt, the Rivers State capital.

The NDC presidential candidate said he still subscribed to subsidy removal but faulted the management of the proceeds.

The conflicting positions have placed the fuel subsidy question back at the centre of the opposition’s economic debate ahead of the 2027 presidential election.

Kwankwaso’s declaration is also significant because he had criticised President Tinubu for removing the subsidy immediately after assuming office in May 2023, arguing that the government failed to consider the consequences of the decision.

He said the NDC would not simply return to the old arrangement but would adopt a different mechanism to make petrol affordable.

‘We are bringing subsidy in our own way,’ Kwankwaso said.

He also said an NDC administration would ‘do whatever it takes’ to bring down the price of petrol.

Kwankwaso’s latest position has, therefore, opened another front in the opposition’s campaign debate, with questions likely to persist over whether or not the NDC’s presidential and vice-presidential candidates share the same position on fuel subsidy.

For Sowore, the controversy provides an opportunity to challenge what he called the changing political positions on a policy with direct consequences for all Nigerians.

The debate is expected to feature prominently as the 2027 campaign gathers momentum and political parties present competing economic prescriptions to voters.

Nationwide rapid alert system eyed for school emergencies – PNP

Amid a string of security incidents in schools, the Philippine National Police (PNP) eyes the nationwide adoption of a rapid alert system to speed up the reporting and response to emergencies on school grounds.

In a statement on Thursday, PNP chief Gen. Jose Melencio Nartatez Jr. said the agency is looking into institutionalizing the ‘Build Partnership. Early Detection. Swift Alert. Tactical Response’ (B.E.S.T.) School Alert and Rapid Response System.

The technology-based platform, developed by the Calabarzon regional office, allow schools, police and other local stakeholders to quickly report incidents, share information and coordinate responses during emergencies.

‘Technology is a critical aspect of our security and law enforcement, and our personnel must have access to modern facilities and training innovations to improve our security systems,’ Nartatez said.

Under the Calabarzon pilot program, around 155 schools are expected to use the application as part of an organized alert and response mechanism.

PNP said it may coordinate with the Department of Information and Communications Technology (DICT) to further develop and sustain the platform if it is expanded nationwide.

‘We have skilled police experts, and we are also equipped with advanced technology that can help us elevate our emergency response techniques,’ Nartatez said.

‘Now is the time to utilize them properly,’ he added.

Earlier, Interior Secretary Jonvic Remulla said the Department of the Interior and Local Government eyes the creation of quick reaction teams, in coordination with the PNP to respond to emergencies in schools.

The latest incident occurred at Banga National High School on Sept. 18, where three minors were killed

National Surf Summit opens in Camarines Norte

The third National Surf Summit and Competition opened Thursday at Bagasbas Beach in Daet town, Camarines Norte, with 269 competitors taking part in a six-day event promoting safe and sustainable surf tourism in the country.

‘Bicol is blessed with some of the country’s incredible surfing destinations-from the powerful waves of Camarines Norte and Catanduanes to the surfing gems of Sorsogon,’ said Herbie Aguas, Department of Tourism (DOT) Bicol director, in a phone interview Thursday.

He said surfers and surfing enthusiasts from established surfing destinations, including Siargao, Baler, Zambales, Samar, Quezon and La Union, were expected to participate in the event.

‘Seeing the surfing community come together here in Bicol is both overwhelming and inspiring. This is more than a competition-it is a celebration of surfing, friendship, sportsmanship, tourism, and our shared love for the waves,’ Aguas said.

The event, themed ‘Building Safe and Sustainable Surfing,’ runs from Sept. 24 to 29 and is being held in collaboration with the provincial government of Camarines Norte and the Daet municipal government.

The four-day national surfing competition, sanctioned by the United Philippine Surfing Association (UPSA), brings together established athletes and emerging talents, Aguas said.

The event will also feature the launch of the National Surf Tourism Road Map and Action Plan and the Bicol Surf Fest, which aim to promote Bicol as a marine sports hub and showcase its coastal destinations to national and international audiences.

The surfing competition will be followed by the National Surf Summit, where government agencies, local governments, tourism stakeholders, surfing associations, environmental advocates, academe and private-sector partners will discuss sustainable surf tourism, safety management, environmental stewardship, destination governance and sports tourism development.

Tourism Secretary Dita Angara-Mathay is expected to lead DOT officials attending the event.

The National Surf Tourism Road Map and Action Plan will serve as the country’s strategic framework for the sustainable development, promotion, management and competitiveness of surf tourism destinations nationwide, Aguas said.

LTFRB’s monetary aid allows Iloilo transport coop to deploy full fleet

Government financial assistance is allowing a transport cooperative in Iloilo to deploy all 95 of its modernized jeepneys despite rising fuel costs, the transport group’s chairperson said Wednesday.

Western Visayas Transport Cooperative (WVTC) chair Raymundo ‘Boyet’ Parcon said the cooperative expects to receive the P20,000 monthly assistance per unit from the Land Transportation Franchising and Regulatory Board (LTFRB) within the week.

WVTC operates 95 modernized jeepneys serving routes from the Mohon, Ungka and Tagbak terminals to Iloilo City.

‘This is a big help for us. Imagine, that is P20,000 per unit per month. Because of this, our board has decided that we will deploy 100 percent of our units,’ Parcon said in an interview.

The cooperative will use part of the assistance to cover employee benefits, including contributions to the Pag-IBIG Fund, Social Security System and Philippine Health Insurance Corp., he said.

It also plans to gradually build up its diesel reserves to serve as a buffer if the government assistance and fuel discounts end.

Parcon noted that the support will help the cooperative sustain operations as fuel prices rise and prevent disruptions for commuters.

Without government assistance, the cooperative could be forced to reduce its operations to as few as five units per route, if fuel prices continue to increase, Parcon said.

Ma. Joscet Abellar, chief transportation development officer of the LTFRB in Western Visayas, said Tuesday that the assistance will be provided for three months.

The aid is expected to benefit about 1,500 modernized jeepneys in the region.

‘We understand that they really need this to continue with their operations, and they won’t stop their operations due to the increase in fuel prices,’ Abellar said.

She urged qualified operators to submit their applications to the regional LTFRB office for evaluation and endorsement to the central office

NAPHER-SD Adopts Ten-Point Agenda for Sports, Education Reforms

The Nigeria Association for Physical, Health Education, Recreation, Sports and Dance (NAPHER-SD) has unveiled a Ten-Point Agenda aimed at improving transparency, integrity, accountability and professionalism across Nigeria’s sports, health and education sectors.

The resolutions emerged from the Association’s 54th Annual National Conference held at Bayero University, Kano, from September 15 to 19, 2026, under the theme, ‘Transparency, Integrity and Accountability in Sports, Health and Education.’

NAPHER-SD stressed that good governance should not be judged only by results but also by how decisions are taken, authority exercised and resources managed.

Central to the agenda is a call for stronger sports and educational institutions, with greater transparency in curricula, staffing, funding, facilities, research, assessment and performance.

The Association also advocated equal access to Physical and Health Education and sports regardless of gender, disability, geographical location or socioeconomic background, while insisting that policies should be driven by reliable data and research.

NAPHER-SD called for national professional standards for Physical and Health Education teaching and sports programme delivery, supported by effective monitoring and evaluation.

It also recommended continuous training for teachers, lecturers, coaches, researchers and sports administrators.

Another major proposal is the establishment of a National Data Management System for professionals in Physical and Health Education and sports. The proposed platform would assist in collecting, analysing and tracking professional and sporting resources across Nigeria’s six geopolitical zones.

The Association further called for stronger advocacy for curriculum reform and improved funding, including institutional approval for a Sports Development Trust Fund.

Universities were encouraged to regularly review Physical Education, Human Kinetics and Health Education curricula, strengthen laboratories and practical training, promote relevant research and improve academic integrity.

Government, meanwhile, was urged to protect Physical and Health Education as an essential part of education and provide qualified personnel, facilities and equipment.

The communiqué, adopted on September 18, was signed by NAPHER-SD President Prof. Florence B. Adeyanju and Secretary-General Prof. Franz U. Atare.

TCN dismantles collapsed tower, moves ERS to site for Kainji-Birnin Kebbi line restoration

The Transmission Company of Nigeria (TCN) has said significant progress has been recorded in the ongoing rehabilitation of the 330kV Kainji-Birnin Kebbi transmission line following the collapse of Tower T367 in Yauri, Kebbi State.

TCN, in a statement issued on Wednesday, said the collapsed tower had been completely dismantled and decommissioned as part of efforts to restore electricity transmission along the affected corridor.

The company said the conductors and skywire at the affected location had also been properly aligned and prepared for the next phase of the restoration work.

According to the statement, an Emergency Restoration System tower had been moved to the site and was ready for installation.

‘This will be followed by cable stringing and associated works towards the restoration of the affected transmission line,’ TCN said.

The company added that its engineers and technical personnel remained at the site, working to complete the restoration as quickly as possible.

‘Significant progress has been recorded at the affected location in Yauri, where restoration activities are being carried out,’ the statement said.

TCN explained that the restoration efforts were aimed at returning the affected transmission line to service and restoring normal bulk electricity transmission.

‘Our engineers and technical personnel remain actively engaged at the site and are working hard to ensure a quick completion and restoration of the line,’ it added.

The transmission company apologised for the inconvenience caused by the incident and appealed to electricity consumers and other stakeholders affected by the disruption to remain patient.

‘TCN appreciates the patience and understanding of electricity consumers and other stakeholders affected by the incident and assures the public that every effort is being made to restore the line and, consequently, normal bulk transmission as soon as possible,’ it said.

The statement was signed by the management of the Transmission Company of Nigeria on September 23, 2026.

17-year-old boy allegedly defiles three-year-old in Oyo

A 17-year-old boy has been arrested by the Oyo State Police Command for allegedly defiling a three-year-old girl in Saki, Oyo.

The Police Public Relations Officer (PPRO) in the state, Ayanlade Olayinka, disclosed this in a statement issued in Ibadan on Thursday, saying the child went missing while she was being retrieved from school on September 17, 2026.

According to the police, a distress report was lodged at the Saki Divisional Police Station at about 6:00 p.m. after the child could not be found.

The statement said a search operation mounted by the police subsequently led to the discovery of the child by the roadside in a distressed condition.

It added that preliminary inquiries revealed that the suspect had allegedly taken the child by force to his apartment, where the alleged sexual assault occurred.

‘Prompted by this revelation, detectives swiftly visited and secured the scene of the crime, resulting in the immediate arrest of the suspect and the recovery of critical physical evidence linked to the offence,’ the statement said.

Following her rescue, the victim was taken to a medical facility in Saki, where the police said she was receiving clinical treatment and psychotherapeutic care.

The command said it had activated investigations into the incident, while assuring that the identity and privacy of the child and her family would be protected in line with child protection laws and ethical guidelines.

The police further said the case had been transferred to the Gender Desk of the State Criminal Investigation Department (SCID), Iyaganku, Ibadan, for further investigation and prosecution.

The command reiterated its zero-tolerance stance against child abuse and sexual violence and assured that efforts would be made to ensure that justice was served.

New audit issues in OVP’s ?168-M relief drive spark fund use concerns

Questions surrounding alleged unidentified or inadequately documented beneficiaries in the Office of the Vice President’s (OVP) ?168-million disaster-relief operations have revived comparisons to controversial names previously linked to the office’s confidential fund records.

During a press briefing on Wednesday, House prosecution panel adviser and spokesperson Robert Ace Barbers highlighted a Commission on Audit (COA) special review that pointed out documentation deficiencies, which prevented state auditors from verifying beneficiaries and distributions in the OVP’s 2023 disaster-relief programs.

‘You might be surprised if the recipient of the aid there turns out to be Mary Grace Piattos again, or perhaps Nico Harina,’ Barbers said in Filipino. ‘That would be difficult. If it’s them again, they must be regular clients by now.’

Barbers clarified that his remark did not establish that either name appeared in the disaster-relief records, and the audit findings cited during the briefing did not identify Piattos or Harina as relief beneficiaries.

The two names originally surfaced in documents submitted to account for the OVP’s confidential fund expenditures, which form part of the evidence in the ongoing impeachment trial of Vice President Sara Duterte.

Verification from the Philippine Statistics Authority (PSA) presented during the proceedings showed no matching civil registry record for ‘Mary Grace Piattos.’ Duterte’s defense team has maintained that the names listed in confidential fund records were aliases connected to sensitive operations.

Barbers emphasized that the latest COA findings make it critical to establish a complete documentary trail for the ?168-million relief fund.

‘The audit trail is important because this involves ?168 million. Again, this is public money, and every single peso spent must be clear and fully accounted for,’ Barbers said. ‘If you say this is financial aid, who was it for? What was it for?’

He added that while the OVP has been given the opportunity under the standard audit process to provide explanations and supporting documents, ‘absent all these justifications, there is really a question mark.