General
Opportunity Opens for Nigerian Teens to Join 2023 Rise Challenge
By Adedapo Adesanya
Schmidt Futures, in partnership with the Rhodes Trust, has announced that young Nigerians aged 15 to 17 (as of July 1, 2023) can apply for the 2023 Rise Challenge.
The flagship programme of Schmidt Futures and the anchor of a broader $1 billion philanthropic commitment from Eric and Wendy Schmidt, find brilliant people who need opportunity and support them for life as they work to serve others.
Rise will build a lifelong community of students, teachers, and institutions across sectors that aim to serve others. The programme, which identifies young people between the ages of 15 and 17 from around the world, is designed to encourage a lifetime of service and learning by providing support that could include scholarships, career services, and funding opportunities to help these leaders serve others for decades to come.
Since its inception, Rise has welcomed over 150,000 people from over 170 countries to its community and selected 200 winners from 69 countries of origin who have showcased their brilliance – from making education more accessible to mitigating global warming and developing tools to better detect cancer.
Schmidt Futures recognizes that talent is created equally, but opportunity is not, which is why the Rise program partners with 30+ global organizations, including NBA Africa, the African Leadership Academy, HALI Network, and BUILD Nigeria, to scour the globe to find brilliant young people who are passionate about building a better world.
Over the last two years, a total of 11 Nigerian students have been selected as Rise Global Winners. Their projects include Starting an international NGO to educate the public and solve pressing social issues, including gender equality and gender laws in Nigeria; developing a program that offers teacher training programs, a student-centred curriculum as well as internship opportunities for students to receive quality computer science education in public and private schools; building robotics to automate tasks; and increasing access to science, technology, engineering, and mathematics (STEM) opportunities for Nigerian girls, among others.
Speaking on this, Ms Wendy Schmidt, co-founder of Schmidt Futures and president of the Schmidt Family Foundation, noted that the body had been impressed by the optimism, initiative and curiosity of the young people in the growing Rise community.
She continued, “We are excited to continue expanding this network with the 2023 cohort and can’t wait to see what these talented teens can accomplish when they work together in service for others.”
On his part, Mr Eric Braverman, CEO of Schmidt Futures, added, “We look for hidden brilliance, in whatever form it takes, wherever it is in the world. There are so many extraordinary people who could do so much more to make the world better if they only could find opportunity — and each other. We hope to make the longest bet we can imagine on exceptional talent with perseverance, integrity, and care for others.”
“We know that amazing things happen when talented people from different backgrounds are brought together and given opportunities to study, collaborate, and innovate,” said Ms Elizabeth Kiss, CEO of the Rhodes Trust. “Rise is an extraordinary opportunity for people from every corner of the world to embark on a lifelong journey of service and impact. Wherever you are, we encourage you to apply. You only know what you can achieve when you try.”
Rise Global Winners will receive individualized and flexible support to achieve their goals as they work to serve others. The programme is designed to encourage a lifetime of service to develop innovative solutions to solve society’s hard problems. That’s why Rise provides all applicants, regardless of Winner status, with access to its global network, free online courses, and curated opportunities from partners.
All Rise Global Winners will receive the following benefits upon selection – A fully-funded, three-week residential summit with other members of the Rise Global Winner cohort, access to the Rise Global Winners network to connect on common interests, make service commitments, launch enterprises, and collaborate, and counselling and career support.
Others include access to specialized programs, courses, and other opportunities through Rise partners, a four-year, post-secondary scholarship at any accredited university, including tuition and a living stipend, based on need and where not already covered by financial aid as well as a technology package, such as a laptop or tablet, to be determined annually.
In addition, all Rise Global Winners can apply for other benefits which may include partner networks, funding opportunities, and scholarship funds for a graduate degree.
To apply: The online applications are open on the Rise website and are available until January 25, 2023, at 16:59 GMT. For applicants without access to mobile technology, Rise works with its partners on the ground to offer alternative pathways through paper applications.
By Modupe Gbadeyanka
Salary increases of between 30 and 80 per cent have been approved for Nigeria’s armed forces personnel by President Bola Tinubu.
This was confirmed by a statement issued on Tuesday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.
About 250,000 personnel are to benefit from the new deal, which takes effect on September 1, according to the statement. Officers above the rank of colonel will enjoy a 30 per cent salary increase. This applies to Brigadier-Generals, Major-Generals, Lieutenant Generals and Generals.
Personnel from colonel down to warrant officer will have a 50 per cent increase, while Private to Staff Sergeant will have an 80 per cent increase.
The President’s spokesman stated that the pay package will increase the yearly salary bill for the country’s armed forces personnel from N660 billion to N924 billion.
President Tinubu has always praised the courage and sacrifices of members of the armed forces as they confront the scourge of banditry, kidnapping and terrorism in some parts of the country.
“The men and women who help to keep us safe in our homes must be supported and appreciated in the course of their duties to our nation.
“Our administration will continue to prioritise troop welfare and modernise the armed forces by providing the weapons and technological tools needed to discharge their duties.
“Our administration believes that no nation can achieve greatness without security. We therefore remain resolute in mobilising all military and law enforcement assets to eliminate security threats and protect the lives and property of all Nigerians
“I urge our servicemen to take our gesture as a sign of our deep appreciation of the services they render to our fatherland. Together we shall prevail over the enemies intent on destroying the fabric of our nation,” Mr Tinubu was quoted as saying.
By Adedapo Adesanya
The federal government has issued a data protection compliance circular to all Ministries, Departments and Agencies (MDAs) to promote public trust through data-driven governance.
The compliance directive is contained in Circular No. 59805/S.I/74, dated 27 July 2026, and signed by the Secretary to the Government of the Federation, Mr George Akume, according to a statement by the Head, Legal, Enforcement & Regulations, Mr Babatunde Bamigboye.
The initiative forms part of a continuum of regulatory measures that will be vigorously pursued as Nigeria advances towards the decisive frontiers of the Fourth Industrial Revolution.
The circular drew the attention of MDAs to a statement of President Bola Tinubu, where he said: “Data is the new oil”.
Mr Akume then directed all Ministries, Extra-Ministerial Departments and Agencies to capture the information rigorously and safeguard it under the Nigeria Data Protection Act, 2023 (NDP Act).
The circular also directed MDAs to ensure full compliance with the NDP Act, Regulations, Guidelines, and Directives issued by the Nigeria Data Protection Commission (NDPC) in relation to the processing of personal data.
To this end, the Circular directs MDAs to, designate suitably qualified officers as Data Protection Officers (DPOs) to oversee data protection compliance and advise management on all matters relating to the lawful processing of personal data, ensure that the names and contact details of their designated DPOs are communicated to the NDPC for registration and official records; engage licensed Data Protection Compliance Organisations (DPCOs), where required, to facilitate compliance with the NDP Act and support the conduct of statutory compliance audits.
It also directed them to provide adequate budgetary allocation for data protection compliance activities, including capacity building, awareness programmes, deployment of appropriate technical safeguards, and periodic compliance audits; and submit all mandatory Data Protection Compliance Audit Returns and other statutory returns to the NDPC within the timelines prescribed by law.
The circular further states that “Permanent Secretaries, Accounting Officers and Chief Executive Officers of all MDAs shall be personally responsible for ensuring institutional compliance with the Circular and the provisions of the NDP Act.”
The National Commissioner/Chief Executive Officer of the NDPC, Mr Vincent Olatunji, expressed the commission’s commitment to supporting data-driven governance.
Mr Olatunji maintained that data accountability is pivotal to achieving the eight Presidential Priorities. To provide full technical support to MDAs for the purpose of achieving compliance, the commission has constituted a regulatory clinic.
By Adedapo Adesanya
Yellow Card, a global stablecoin infrastructure provider, has raised $40 million in a strategic funding round to accelerate its international expansion and strengthen its digital payment infrastructure.
The funding round attracted investments from SC Ventures, the innovation and investment arm of Standard Chartered, Sony Innovation Fund, Polychain Capital, Blockchain Capital, and other strategic investors. With the latest raise, Yellow Card’s total equity financing has now exceeded $120 million.
The company said the fresh capital will be used to scale its Global US Dollar Accounts, an end-to-end dollar account designed for businesses, while expanding the stablecoin payment rails that connect businesses to markets around the world.
Yellow Card’s chief executive, Mr Chris Maurice, described the investment as a strong endorsement of the company’s long-term vision, noting that the company has spent years building infrastructure that allows businesses to move money globally without relying on traditional correspondent banking systems.
He added that the next phase of growth will focus on helping banks connect directly to stablecoin payment rails, enabling faster and more efficient cross-border transactions while expanding access to US Dollar services for businesses.
SC Ventures chief executive, Mr Alex Manson, said stablecoins are becoming an important part of global payments, but noted that widespread adoption will depend on reliable infrastructure and practical use cases.
He said Yellow Card has built the payment rails businesses across Africa need to move money efficiently across borders and expressed confidence in the company’s ability to expand both within Africa and internationally.
The investment also marks growing interest from global institutions in stablecoin-based payments. Sony Innovation Fund said its backing reflects confidence in Yellow Card’s ability to build digital payment infrastructure for emerging markets.
Mr Austin Noronha, Managing Director at Sony Ventures-US, said the company believes Yellow Card is creating the technology needed to help banks, financial technology firms and enterprises move money faster and more securely.
He added that the company looks forward to supporting Yellow Card as it expands beyond Africa into Latin America, the Middle East, Europe and the Asia-Pacific region.
Yellow Card said the funding will also support the wider rollout of its Global USD Accounts, which allow businesses to hold U.S. dollars, manage treasury operations, swap stablecoins, and collect or make payments in local currencies across more than 50 countries.
The company noted that the platform is already being used by major customers, including Visa and Western Union.
Founded to simplify cross-border payments through digital assets, Yellow Card has processed more than $10 billion in transactions across its network. The company supports over 50 currencies and holds licences, authorisations and registrations in 22 jurisdictions across North America, Europe and Africa.
Yellow Card has also established strategic partnerships with global payment companies including Visa, Mastercard, PayPal and Coinbase as it positions itself as a key infrastructure provider for international digital payments.
