General News
Nigerian Hackers Break into Bank System, Steal N6Bn

A group of criminals aided by an insider gained access to a bank’s computers, stealing a jaw-dropping sum. How did they do it?
According to Weekly Trust, Godswill Oyegwa Uyoyou worked in the Information and Communication Technology (ICT) department of a new generation bank but is currently on the run, as the fair-skinned 38-year-old is wanted by the Economic and Financial Crimes Commission (EFCC), in a case of fraud involving N6.28billion.
He allegedly conspired with others and hacked into the bank’s computers, disbursing the funds to various accounts as they pleased.
Oyoyou, who hails from Isoko South Local Government Area of Delta State, is said to have carried out the massive heist over a short period of time.
Mr. Wilson Uwujaren, EFCC spokesman, told Weekly Trust that the operation was carried out not only by Oyoyou, but an entire syndicate.
“They most likely got through to [Uyoyou] because he’s an IT person in the bank, he said, adding that on one Saturday, he took the ‘cyber gang’ to the bank under the pretext that he was going to carry out some maintenance work, allowing them access to hardware, and they commenced to penetrate the bank’s database.
Ujwujaren said they then increased the balances of some accounts. Sources told us that no culprits have been arrested yet and the spokesman said “The matter is still under investigation.”
He added that he couldn’t talk about the specific location where the crime was carried out, because it will jeopardise the investigation.
But banking industry sources said that it is an Abuja branch of a new generation bank.
Uwujaren said the thieves have not withdrawn the entire sum stated. “It was in the process of withdrawing some of the money that they were caught,” he said, adding that some of the criminals are being tracked.
This is not the first time the EFCC – with a mechanism to check similar crimes – has been faced with such an issue. “There was a report from the bank,” Uwujaren said.
“It can happen to any establishment. It’s not a matter of new or old generation bank,” he added.
Weekly Trust probed further, to the last known address of suspect Uyoyou as advertised by the EFCC on newspapers announcing him wanted. At Balogun Akarutu Street, off Tijani Salako, Ile Epo, Ashamu Estate, Ejigbo, Lagos, where Uyoyou claimed to be living, there were two houses labelled as 7a and 7b.
The probe at No. 7a revealed that there was nobody by such a name living in any of the flats on the premises. Similarly, a shop-owner at No. 7b who also resides in the main house alleged that there was nobody known by such a name in any of the flats.
Another resident, a lady in 7a, also alleged that they did not have a banker for a neighbour.
Upon visiting the premises labelled 7a, Weekly Trust discovered that the house in question has about four rooms and parlour, best-described as studio flats and all seemed to be occupied.
It also housed a small uncompleted structure in front of these flats, fenced around with a big red gate.
The heist by Uyoyou and Co. is just the latest in a string of major cyber-theft jobs. Figures released by the Central Bank of Nigeria (CBN) show that the nation’s banking sector has lost over N20 billion through internet fraud in 2013 alone. In September of the same year, undergraduates of a Nigerian federal university infamously defrauded Union Bank Plc to the tune of N2 billion.
On the legislative side of things, in 2011 Hon. Bassey Etim sponsored a Cyber Security Bill to safeguard banks and their clients’ funds.
A 15-member cybercrime committee with representation from both government and private sector, was set up with the task of designing solutions for Nigerian internet-based fraud and cybercrime. Upon their deliberations, a ‘Draft Cybercrime Act to the President’, with the committee forming the Nigerian Cybercrime Working Group (NCWG), in order to accelerate the implementation of its Cybercrime research efforts, and to assist the Nigerian National Assembly in the quick passage of a Cybercrime Bill. So far, this is yet to become law.
A 2011 annual report of the CBN revealed: “There were 2,527 reported cases of attempted fraud or forgery, involving N29.5 billion, as against 5,960 cases involving N19.7 billion and N3.1billion (US$19.2 million) in 2010.” The report said they were tech-driven crimes, or attempts.
General News
NITDA, Benin’s Digital Agency Strengthen Ties on Digital Transformation

The National Information Technology Development Agency (NITDA) and Agence des Systèmes d’Information et du Numérique (ASIN), the Information Systems and Digital Agency of the Republic of Benin, have moved to strengthen bilateral cooperation on digital transformation, digital public infrastructure, and innovation-driven governance.

The commitment was reaffirmed during a courtesy visit by the Beninese delegation to NITDA’s corporate headquarters in Abuja, where discussions centred on deepening bilateral cooperation, sharing best practices, and advancing digital development across the region.
Speaking during the engagement, the Director General of NITDA, Kashifu Inuwa, represented by the Director of Stakeholder Management and Partnerships, Dr. Aristotle Onumo, said regional collaboration remains critical to advancing Africa’s digital economy and building resilient digital ecosystems capable of supporting sustainable growth.
He noted that NITDA is committed to driving Nigeria’s digital transformation through the development of policies, standards, and strategic frameworks designed to modernise governance and improve service delivery across the public sector.
According to him, the agency has developed several foundational frameworks, including the Enterprise Governance Framework, Digital Transformation Framework, and Software Quality Assurance Framework, to guide Ministries, Departments, and Agencies (MDAs) in their digital transformation journeys.
“Our goal is to move government institutions beyond basic digitalisation to full digital transformation, and ultimately, to build an intelligent, data-driven government powered by emerging technologies such as artificial intelligence,” he said.
Inuwa also disclosed that since 2018, NITDA has reviewed over ₦1.5 trillion worth of government IT projects to ensure compliance, technical alignment, and value for money.
He said the intervention has helped the Federal Government save more than ₦300 billion by eliminating duplication, promoting shared services, and improving the success rate of digital projects across ministries, departments, and agencies.
On digital public infrastructure, he revealed that Nigeria has transitioned from fragmented agency-to-agency data exchanges to a more integrated and citizen-centred digital ecosystem through the Nigerian Data Exchange (NGDX) platform.
He explained that the platform provides a federated and centralised framework for seamless data exchange among government institutions while preserving the autonomy of individual information systems.
According to him, the proposed e-Government and Digital Economy Bill will provide the legal backing needed to strengthen the platform and institutionalise digital collaboration across government.
The DG further highlighted NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0) 2024–2027, which aligns with the Federal Government’s Renewed Hope Agenda and focuses on critical areas such as digital literacy, research and development, cybersecurity, innovation, inclusive access, and strategic partnerships.
Earlier, the Head of International Partnerships at ASIN, Tildy Erlong, said the delegation’s visit followed a recent Smart Africa workshop in Abuja and was aimed at strengthening institutional ties and learning from Nigeria’s digital transformation experience.
She described ASIN as the operational agency under Benin Republic’s digital ministry, responsible for implementing strategic digital development projects across the country in collaboration with key institutions, including the national identity agency, ANIP, and the cybersecurity agency, CENIN.
Erlong highlighted Benin’s achievements in digital public infrastructure, noting that about 98 per cent of the country’s population—approximately 13.6 million citizens—has been enrolled on its digital identity platform.
She added that more than 60 government agencies and service institutions are connected through Benin’s XROAD interoperability platform, enabling the delivery of over 250 digital services to citizens.
According to her, Benin is also prioritising digital inclusion, open-source systems, and the deployment of artificial intelligence to improve service delivery in sectors such as healthcare, education, and justice.
General News
PalmPay Young Star Awardee Hopes to Become a Governor

As part of its Children’s Day celebration, PalmPay, through its Young Stars initiative, has rewarded 60 outstanding students, inspiring young learners across public schools.

The initiative goes beyond rewarding high-performing students, it is also about building confidence, widening ambition, and reminding children that their future can be bigger than their present circumstances.
For Mohammed Jubril, one of the beneficiaries, the recognition has already changed how he thinks about what is possible.
Inspired by the support he has received, Mohammed shares a bold dream for the future: “I want to become a governor one day so I can help more children like me get access to education and opportunities.”
His words capture the deeper impact of the Young Stars programme. For many of the children recognised. The award is not just a reward for past performance. It is a signal that their efforts matter, their dreams are valid, and their future is worth investing in.
During the engagement sessions at the event, the pupils also excitedly shared their aspirations, speaking with enthusiasm about the careers they hope to pursue in the future. From doctors and teachers to engineers, pilots, and entrepreneurs, the children expressed big dreams and a strong sense of purpose, reflecting how early encouragement and recognition can help shape ambition and confidence.
For many students in public schools, access to educational support often determines not just academic outcomes, but how far they allow themselves to dream. Through the Young Stars Initiative, PalmPay is helping to change that narrative by affirming that excellence deserves recognition, and potential deserves investment.
For Mohammed’s family, the impact is both practical and deeply emotional. His father describes the recognition as a moment of renewed confidence for his son and a reminder that hard work can open doors to real opportunity.
As the initiative continues to reach more pupils across Lagos public schools, it leaves behind a powerful message; when children are supported, they don’t just perform better, they dream bigger.
General News
DisCos Generate N597.6bn Revenue in Q1 2026 Amid Ongoing Power Supply Challenges

Electricity Distribution Companies (DisCos) in Nigeria generated a total of N597.55 billion in revenue during the first quarter of 2026 despite persistent power supply challenges and consumer complaints over service delivery.

The figures are contained in the latest commercial performance factsheets released by the Nigerian Electricity Regulatory Commission (NERC).
According to the data, the 11 electricity distribution companies collectively recorded N204.74 billion in revenue in January, N196.68 billion in February and N196.13 billion in March, bringing total collections for the three-month period to N597.55 billion.
The report showed that the companies maintained an average monthly revenue collection of about N199.18 billion during the period.
NERC’s data revealed varying levels of commercial performance among the distribution companies, with differences in billing efficiency, collection efficiency and revenue recovery rates.
In January, the DisCos billed customers N268.20 billion and recovered N204.74 billion, leaving N63.46 billion in unpaid bills.
The sector recorded a billing efficiency of 79.72 per cent and a collection efficiency of 76.34 per cent during the month.
In February, total billings stood at N242.29 billion, while collections amounted to N196.68 billion, resulting in an outstanding balance of N45.61 billion.
Billing efficiency improved to 87.44 per cent, while collection efficiency rose to 81.17 per cent.
For March, total billings reached N246.43 billion, with revenue collections of N196.13 billion, leaving a shortfall of N50.30 billion.
Billing and collection efficiencies for the month were recorded at 83.89 per cent and 79.59 per cent respectively.
The report also highlighted significant volumes of unbilled energy across the quarter, indicating ongoing operational and commercial challenges within the electricity distribution segment.
Among the top-performing firms were Eko Electricity Distribution Company and Ikeja Electric, which consistently posted stronger revenue recovery rates.
Eko DisCo notably achieved a recovery efficiency of over 100 per cent in February, according to the report.
However, some operators continued to face collection challenges.
Kaduna Electricity Distribution Company recorded one of the lowest recovery efficiencies during the review period, posting 41.20 per cent in February.
The NERC commercial performance report tracks key indicators including energy received, energy billed, total billings, revenue collections and recovery efficiency to assess the operational and financial health of electricity distribution companies.
The revenue performance comes against the backdrop of continued complaints from electricity consumers over high tariffs, estimated billing, inadequate metering and frequent power outages.
Nigeria also experienced significant power supply disruptions during the first quarter, largely attributed to gas supply constraints affecting electricity generation.
Industry data indicated that electricity generation at some points declined from about 4,000 megawatts to below 2,000 megawatts due to shortages in gas supply to thermal power plants.
Operational data from the Nigerian Independent System Operator showed that thermal plants require about 1.63 billion standard cubic feet of gas daily to operate optimally.
However, actual gas supply as of Feb. 23, 2026, stood at approximately 692 million standard cubic feet per day, representing less than 43 per cent of required demand.
The shortfall forced several generating plants to reduce output or shut down operations, prompting the Transmission Company of Nigeria (TCN) to implement load-shedding measures across the national grid.
Industry stakeholders have continued to advocate improved metering, stronger measures against energy theft and enhanced customer service to improve sector efficiency and revenue collection.
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