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Tether Invests in Fizen for Global Stablecoin Utilization

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Tether Fizen

By Modupe Gbadeyanka

To support innovative solutions that enhance financial accessibility and security in the digital asset ecosystem, Tether has made a strategic investment in a financial technology (fintech) company specializing in self-custody crypto wallets and digital payments, Fizen Limited.

This transaction will allow Fizen to integrate its innovative technology with Tether’s leadership in the stablecoin industry.

The objective is to accelerate digital asset utilization while upholding the utmost security standards. This will further solidify Tether’s role in advancing blockchain-based finance and its commitment to global financial inclusion.

According to the chief executive of Tether, Mr Paolo Ardoino, this investment in Fizen “underscores our commitment to expanding global access to efficient and reliable digital financial solutions that promote the informed responsible use of digital assets in everyday life.”

“At Tether, we recognize the crucial role of self-custodial payment infrastructure in driving real-world use cases.

“Fizen’s innovative model helps to bridge the gap between self-custody and digital payments, empowering users with greater financial independence while reinforcing our leadership as the most widely used stablecoin globally, advancing inclusive access to the financial system,” Mr Ardoino added.

Also, the chief executive of Fizen, Leo Vu, said, “Stablecoins like USD₮ will undoubtedly drive crypto payments and financial inclusion worldwide.

“The technology infrastructure is already in place, but we lack consumer-friendly applications with intuitive UI/UX to accelerate mass integration.

“Fizen is solving this by making crypto payments an intuitive part of daily transactions, allowing users to pay seamlessly without even realizing they are using blockchain technology.”

Fizen offers advanced payment technologies that facilitate seamless stablecoin transactions, making digital assets more accessible for consumers and businesses. It is one of the crypto companies delivering real value to consumers and businesses, bringing practical crypto use cases to life.

The World Bank’s Global Findex Report reveals that millions of individuals worldwide remain unbanked. People in this category consistently cite distance to the nearest financial institution and a lack of proper documentation requirements as the primary reasons they could not access traditional banking services.

This investment will enable Fizen to enhance its blockchain capabilities, facilitating the seamless integration of stablecoins across multiple blockchain ecosystems. It will also provide users access to a more efficient and user-friendly solution to store, transfer, and transact using stablecoins, eliminating restricted access or complicated documentation.

However, while stablecoins offer a compelling alternative for those excluded from traditional financial systems, their practical use in everyday commerce still faces hurdles despite clear advantages, such as lower fees, enhanced security, and near-instant transactions.

Merchant usage remains a key challenge. Through this investment, Fizen aims to bridge this gap by enabling users to pay seamlessly with stablecoins.

At the same time, merchants receive instant fiat settlements through known payment methods like QR codes and card readers. This eliminates the need for additional infrastructure, making digital asset payments more accessible and efficient for businesses worldwide.

Market projections for 2024 state that QR code payments are expected to surpass $3 trillion, with 2.2 billion users by 2025, driven by increasing smartphone penetration and the rising demand for frictionless, secure, and convenient digital transactions.

With this strategy and strong technological and business development foundations, the collaboration between Fizen and Tether looks to accelerate the widespread use of crypto payments at scale to usher in an era of seamless digital transactions.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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NDPC Laments Shortage of Data Protection Officers in Nigeria

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data protection officer

By Adedapo Adesanya

The Nigeria Data Protection Commission (NDPC) has warned that the country faces a significant gap of 480,000 Data Protection Officers (DPOs), in spite of notable progress recorded in the last three years.

The National Commissioner of NDPC, Mr Vincent Olatunji, disclosed the opening of a one-week training for the second cohort of DPOs Training and Certification Programme in Abuja.

Mr Olatunji said there were still shortages even as the number of certified DPOs in Nigeria increased from fewer than 1,000 three years ago to over 10,000, while more than 27,000 professionals now operate within the broader privacy ecosystem.

However, he noted that the gap remained wide due to the increasing number of data controllers and processors in the country.

“We have identified over 500,000 data controllers and processors who require the services of data protection officers.

“At the moment, we have about 10,000 certified DPOs to work in that space.

“The gap of about 480,000 still exists, which underscores the need for sustained capacity building,” he said.

The NDPC boss said the commission was intensifying efforts to bridge the gap through continuous training programmes.

He said the initiative was aimed at positioning Nigeria as a hub for highly skilled and globally competitive data protection professionals in Africa.

“Our goal is to make Nigeria the go-to country when it comes to sourcing qualified data protection officers in Africa.

“The certification we offer meets global standards, enabling practitioners to operate not just locally but in any part of the world,” Mr Olatunji said.

He said the programme would also contribute to job creation within the digital economy, in line with the federal government’s priorities.

On her part, Mrs Tolu Fadipe, the commission’s Head of Research and Development, emphasised the critical role of data protection in the digital economy.

She said that responsible data handling was fundamental to the growth of digital systems and emerging technologies.

“As we move towards a digital economy, data becomes central and protecting that data is essential.

“This training is designed to build competence and ensure organisations comply with the Nigeria Data Protection Act,” she said.

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Lagos Discontinues Manual Property Planning Permits System

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LASPPPA Property Planning Permits

By Modupe Gbadeyanka

The processing of planning permits for property owners in Lagos State is now fully digital, discontinuing manual and semi-digital processes.

The Special Adviser to the Governor on E-GIS and Urban Development, Mr Olajide Abiodun, said the new system is the Electronic Physical Planning Process System (EPPPS).

He described it as a transformative, web-based platform designed to completely modernise the operations of the Ministry of Physical Planning and Urban Development, which is transitioning from legacy, manual systems toward a highly efficient, transparent, and scalable digital framework.

“Lagos State has entered the dawn of a new era in digital processing of Planning Permissions, Authorisations to Commence Construction Works, Stage Certification, amongst other services,” he told newsmen recently.

Mr Abiodun noted that the full automation of the planning permit process commenced on April 1, 2026, stressing that anyone processing planning permits manually from the stated date is engaging in an illegal activity and that all applications must now go through the EPPPS platform exclusively.

The Governor Babajide Sanwo-Olu’s aide added that once one receives planning approvals via EPPPS, the journey is not over. The person should immediately apply for their Authorisation to Commence Construction Works and Stage Certifications through the EPPPS platform, amongst other services, adding that there will be a task force to monitor compliance with this activity.

While updating the citizens on other developments on Urban Development and Land Administration in the State, he said the state government has introduced CAP to further strengthen LASBCA’s capability in ensuring strict building development compliance.

According to him, CAP is a strategic Public-Private Partnership that allows accredited private professionals to work alongside LASBCA in monitoring building projects.

“This helps us ensure strict compliance with the state’s building codes. It will drastically reduce the risk of building collapses while accelerating project delivery. It is a win for safety, a win for the construction industry, and a win for Lagosians,” he said.

The Lagos State Government, in the journey of moving from the built environment to Land Administration, has actively decentralised its services to ease the burden on citizens, announcing that the e-GIS Regional Office in Ikeja has officially commenced operations.

“This is a dedicated, customer-facing hub designed specifically to handle your digitised land administration activities. Citizens will no longer need to travel all the way to Alausa for every land-related inquiry.

“The Ikeja office is fully equipped to serve residents efficiently at the grassroots level, as the Government is assuring that the remaining divisional offices across the state will also commence operations very soon,” he disclosed.

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Oladiti Eyes NUPENG Presidency as Akporeha Bows Out

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NUPENG

By Adedapo Adesanya

Mr Salimon Akanni Oladiti is in pole position to take over the presidency of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).

According to reports, Mr Oladiti, who is the current National Trustee of the union, will take over from Mr Williams Akporeha, who is set to exit office at the end of April after eight years at the helm.

Mr Akporeha announced his departure at the weekend during the Quarterly National Executive Council meeting of the Petroleum Tanker Drivers (PTD) Branch in Warri, Delta State.

He noted that the union will elect a new president on April 24 in Lagos.

If Mr Oladiti, a former PTD National Chairman, emerges as the president of the union, it would be the first time a PTD member ascends to NUPENG’s top office.

The move gained momentum at the meeting, where Mr Joseph Okafor moved a motion for Mr Oladiti’s unanimous ratification, seconded by Mr Adekunle Akinlaja.

Mr Akporeha expressed gratitude to PTD members for their steadfast support throughout his tenure.

“Eight years ago, you stood by me in this same room. You didn’t only stand by me, you supported me. When things were tough, you were there through all the challenges.

“I want to appreciate all of you. If I stand to support one of your own as President, I have no apology. If I had done anything otherwise, my conscience would have troubled me. God used you to install me,” he said.

He urged members to rally behind Oladiti and the newly elected PTD National Chairman, Mathias Ote, to sustain the union’s stability and growth.

“By the grace of God, as I move along, I want to see a union stronger than I left it. I don’t want to see PTD go into disarray. The greatest favour you can do is to support this man whom you have elected today as your national chairman. Also support your own that will be the President, by the grace of God, on April 24,” he added.

On his part, the President of the Nigerian Association of Road Transport Owners (NARTO), Mr Lawal Yusuf Othman, commended NUPENG for steering a peaceful transition.

“I once again want to appreciate NUPENG. NARTO will continue to give you the necessary support,” he said.

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