E-Business
Reconciling Schedules Bane of Pension Industry – Obaro

John Obaro, managing director, SystemSpecs at a Workshop on Remita Pension for Pension Fund Administrators and Pension Fund Custodians in Lagos spoke on Remita Pension, a world class electronic courier service that rides on e-Payment platforms to deliver funds to bank accounts and associated schedules to relevant bodies in pre-specified formats. Excerpts:
About the Workshop
Essentially, it is a forum to create awareness on the Pension Industry Solution, a solution that can assist employers to fulfill their regulatory obligations of remitting contributory pensions on monthly basis to their respective PFAs. So we are meeting with key players in the industry- the PFCs and the PFAs to show them the capabilities of the solution. The solution assists employers to upload their schedules and effect e-payment such that their diverse PFAs are able to receive electronic schedules on real time basis.
PFAs & PFCs Blaming Regulators for not making Money
I do not think it is an issue of blaming regulators as such. The process in place for employers to fulfill their regulatory obligations has hitherto been cumbersome and when it is difficult to fulfill a law, even when the will is there, you may still have operational challenges and that is the kind of thing going on in the pension industry. It is a cumbersome process for a typical employer to deal with 5-10 PFAs. Employees leave the organization, so every month they need to re-compute how much pension should be paid on each employee, what should go to each PFA, that can easily become a nightmare so you find many organizations now having to set up desks or units to follow up because of the operational challenge. That is part of issues leading to PFAs not getting as many contributors as they would love on their platforms. That is one of the reasons we came up with a solution like this to make life easier for the employer who can upload all his schedules at once. There is no reason to break them to any structure, it goes to different PFAs, irrespective of the PFCs managing them and the PFAs and PFCs are able to see only the things that relate to them.
Reconciling Schedules
These are some of the symptoms of the current operational process. It is a fall out because the system itself wouldn’t work so you would always have things that create a kind of problem and that is where Remita comes in. It is no more simple for you to send a schedule that does not balance with the payment you want to make because it is the system after it accepts the schedules from the employer that re-computes the total contributory pension to be paid by that organization. The organization is debited for this sum and the various PFAs are credited in their accounts with the various PFCs. Immediately the payment is confirmed as successful, the PFAs and the PFCs immediately see schedules of those who have paid.
Relationship with Banks
Remita is an e-payment solution and what we have done is only to extend the features of the e-payment and translate it to business to make life operationally easier for organizations. As an e-payment solution, what it means is that we have relationship with the banks so for any employer using the platform, he would have filled an application form with the bank. It is actually the bank that will enable the organization on the Remita platform such that when transactions come from the Remita platform, the banks are able to recognize and respect that instruction. So the bank effects the debit and we move it on to the other banks and the bank then credits the beneficiary.
History of Remita Pension Solution
It was developed in 2005, the early days of the pension reform. That was when we started working on this solution and we’ve always had our eyes on the pension industry. The solution is about five years old, that is Remita but this is the first time when we have are focusing and bringing out the operational convenience for employers and PFAs. Remita is basically a payment engine. As a payment engine, we focus more on getting payments right, building relationships with all the banks so that they can respect instructions coming in from bank platforms and then of course our core area which has always been human manager payroll had moved our clients unto the platform, then we went into vendors and contractor payments and now we are focusing on the pension industry. Several organizations have been using it for pension payments. What we are discussing with the PFAs and PFCs is that we are now focusing on the pension aspect of Remita because the issue of funds not matching schedules has become a major crisis in the industry and since this is one of the core areas of strength of Remita, of course it is time for us to push it.
E-Business
Firm Discovered a New Corporate Phishing Technique using a Popular AI Web Development Platform

Kaspersky has discovered that attackers have begun exploiting another legitimate service for malicious purposes – this time it is Tencent EdgeOne Pages, a platform for creating and hosting web applications.

Attackers are misusing its capabilities to generate phishing emails targeting corporate users. Previously Kaspersky has described similar attacks leveraging Google services and web applications generated by Bubble, an AI-powered app builder, to hunt for corporate credentials.
Employees across multiple industries including the industrial sector, sales, and government are among the targets. The goal of the attack is to steal login credentials for corporate resources. Over the past 30 days, the company’s experts have detected more than 8,000 phishing emails using this tactic, including messages in English, Korean, and Russian.
The Tencent EdgeOne Pages service is positioned as a platform for quickly creating and deploying web applications using AI. Scammers misuse it to generate and publish phishing pages in minutes with virtually no web development skills.
Attackers host phishing pages on EdgeOne’s legitimate cloud infrastructure and use trusted domains. As a result, such sites appear to be established and secure to many protective solutions, complicating the detection of such attacks.
How the attack begins
The user receives an email from the alleged “corporate email support team”. The message states that the account login credentials will expire in 48 hours, and that failure to update them may result in problems receiving or sending emails.
To avoid restrictions, the user is prompted to click a link and enter relevant information. Phishing emails are not limited to this narrative, and could deliver any corporate message, such as a message from the HR department or a notification of a received document that should be downloaded.
Clicking the link in the email opens a page with a form for entering the victim’s name, email address, and password. It is a simple design, with virtually no additional elements.
After the user enters their login and password, the data is transferred to a server controlled by the attackers.
“We are seeing a continuation of the trend in which attackers use AI and no-code platforms as part of their phishing infrastructure. We’ve previously observed a similar scheme using the Bubble platform, and here we have yet another example.
“While the communication used in these phishing attacks is typical and has been used before multiple times, the attack technique itself significantly lowers the barrier to entry for attackers and accelerates the creation of phishing resources.
“Previously this required at least basic web development skills, but now an infrastructure for fraudulent emails can be created in minutes,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.
E-Business
Kaspersky Report Shows Early 2026 Witnessed an Increase in Cyberattacks on the Manufacturing Sector

According to a new Kaspersky ICS CERT report, in Q1 2026 the percentage of industrial control systems (ICS) on which malicious objects were blocked reached 19.6% globally. Kaspersky security solutions blocked malware from 10,052 different malware families of various categories on industrial automation systems.

Regionally, the share of ICS computers that were attacked ranged from 27.4% in Africa to 9.1% in Northern Europe. Compared to the previous quarter, attacks on the manufacturing sector in Q1 increased in multiple regions, including in Europe and Asia.
Regional split
In terms of overall numbers across all industry sectors, five regions saw an increase in the share of attacked ICS computers in Q1 2026 compared to the previous quarter. These were Southern Europe, Russia, Northern Europe, Canada and Africa.
Industries
In Q1, biometric systems traditionally placed first in terms of the share of ICS computers on which malicious objects were blocked, at 26.4%. These systems commonly have Internet access, are used for email, and, in many cases, have minimal cybersecurity controls within the organisations that use these systems.
Regionally, Southern Europe leads the ranking based on the percentage figures for biometric systems, at 35.15%. Africa follows at 29.58%, and Central Asia comes in third at 28.53%.
In the manufacturing industry, Southeast Asia ranks first among regions in terms of the percentage of ICS computers attacked (23.21%), followed by Africa (21.36%) and South Asia (20.13%).
In 2025, Kaspersky and VDC Research estimated that in just the first three quarters of 2025 cyberattacks on manufacturing organisations via ransomware could have generated over $18 billion globally in losses. Actual business losses could have been even higher when factoring in supply-chain disruptions, reputational damage, and recovery expenses.
“Legacy operational technology systems remain deeply embedded in manufacturing environments, which makes them vulnerable. Supply chain complexity and branching of the trusted partner network expands the attack surface beyond the network perimeter.
Attackers are realising that targeting OT assets of an industrial enterprise is not rocket science, which is why factory shutdowns bring massive financial losses,” commented Evgeny Goncharov, Head of Kaspersky ICS CERT.
E-Business
NDPC, Meta Launch 2-Year M-SIDP after Regulatory Settlement

Nigeria Data Protection Commission (NDPC) has launched the Meta-Supported Initiatives for Data Protection (M-SIDP), a strategic programme aimed at strengthening data privacy awareness, regulatory compliance and institutional capacity across Nigeria’s digital ecosystem.

The initiative follows the conclusion of regulatory proceedings involving Meta Platforms Inc., the parent company of Facebook, Instagram and WhatsApp, over concerns relating to the processing of personal data belonging to Nigerian users. The matter was resolved in 2025 through a court-approved settlement.
Under the agreement, Meta committed to supporting a two-year programme of public-facing data protection measures designed to advance the objectives of the Nigeria Data Protection Act (NDP Act) 2023, the General Application and Implementation Directive (GAID), and the NDPC Strategic Roadmap and Action Plan (SRAP) 2023–2027.
Announcing the initiative, the Commission said the programme would strengthen safeguards for data subjects while promoting responsible data processing practices among organisations operating in Nigeria.
According to a statement signed by Itunu Dosekun, head of the NDPC Media Unit, the programme will focus on governance, research and development, safety and sustainability mechanisms for technology ecosystems, capacity building for Data Protection Officers (DPOs) and Data Protection Compliance Organisations (DPCOs), as well as public awareness campaigns targeted at vulnerable groups.
The Commission stated, “As part of the settlement, Meta committed to supporting a two-year programme of public-facing data protection measures that aligns with the objectives of the Nigeria Data Protection Act, 2023 (NDP Act), the NDP Act General Application and Implementation Directive (GAID) and the NDPC Strategic Roadmap and Action Plan (SRAP) 2023–2027.”
The NDPC stressed that the settlement does not limit its regulatory authority.
“Nothing in this settlement limits the Commission’s independent statutory powers as we continue to exercise our regulatory mandate in relation to data processing activities in Nigeria, in accordance with the NDP Act and other applicable laws,” it stated.
The development comes amid rising global scrutiny of technology companies over data privacy practices, with regulators in regions including the European Union and the United States tightening enforcement against breaches and non-compliance.
Nigeria has also intensified efforts to strengthen its privacy framework following the enactment of the Nigeria Data Protection Act in 2023, which established the NDPC as an independent regulator empowered to monitor compliance, investigate violations and impose sanctions.
Industry experts warn that increasing digital adoption across banking, telecommunications, e-commerce, healthcare and public services has heightened risks of identity theft, cybercrime and unauthorised data sharing.
The NDPC has in recent years stepped up enforcement actions against organisations that violate data protection rules, while also expanding accreditation for Data Protection Compliance Organisations and training for privacy professionals.
The Meta-supported initiative is expected to address gaps in public awareness and technical capacity, while also supporting research and policy development on emerging issues such as artificial intelligence, cross-border data transfers and platform governance.
The Commission said it would provide periodic updates on the implementation of the programme and called on stakeholders to support efforts to build a secure, transparent and accountable privacy ecosystem in Nigeria.
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