Telecom
Beware: Your Site Could be at Risk – NITDA warns WordPress users in Nigeria
National Information Technology Development Agency, NITDA has alerted WordPress users in Nigeria about a new vulnerability called CVE-2024-28000, affecting over 5 million websites globally.
The agency gave the warning through a facebook post on Monday warning wordpress users to be weary of LiteSpeed Cache plugin, noting that it’s a tool many people are using to speed up their websites.
NITDA noted that Hackers can exploit this plugin to potentially take full control of users website.
The warning stated that the vulnerability lies in the plugin’s “role simulation” feature, which gives cybercriminals admin access to your site without needing a password.
“Once they’re in, they can install malicious plugins, steal your data, or even redirect visitors to sketchy websites. It’s a huge deal, and you don’t want to be on the receiving end of this.
“To make things worse, the attack is easy for hackers to pull off, thanks to a weak hash function and the simplicity of the exploit. They can brute force their way in or use exposed debug logs to grab admin rights. If your site gets hit, you could be dealing with data theft, site defacement, or worse, your visitors being sent to dodgy websites.
But don’t freak out just yet — there’s something you can do! NITDA recommends you update the LiteSpeed Cache plugin to the latest version (6.4.1) ASAP. You can do this in your WordPress dashboard under “Plugins.”
Also, turn off debugging on live sites (it can expose sensitive info) and regularly check your plugin settings for risks.
While LiteSpeed Cache helps boost your site speed, it has had its share of vulnerabilities in the past, from cross-site scripting to privilege escalation.
The key to staying safe?
Keep everything updated and stay alert for any security warnings. So, if you have not already, go update that plugin right now — your website’s safety depends on it!
Telecom
Moody Says MTN, LIT Exposed to Currency Volatility, Inflation Risks in Nigeria, Others
MTN and Liquid Intelligent Technologies (LIT) are exposed to inflation and currency depreciation in their South Africa, Zimbabwe and Nigerian markets, said Moody’s Ratings, adding though that regional telecoms operators stood to benefit from booming population and increased uptake of mobile services.
South African telecoms groups have forayed into regional markets, including MTN and Vodacom, where they are also running broadband and setting up mobile money services to broaden revenues and earnings.
However, for operators like MTN, exposure to exchange rates mainly comes from translating results into its rand reporting currency and from the dollar indexation element on its tower leases, especially in Nigeria, said Moody’s senior analyst, Lisa Jaeger.
It is less exposed to a currency mismatch between earnings and debt because it has shifted debt from dollars into rand and naira over the past two to three years and continues to raise debt in local currency at its subsidiaries,” noted Jaeger and other analysts in a new report by Moody’s on the Sub Saharan African telecommunications sector.
On the other hand, LIT – the independent fibre network operator – earns around 75% of its revenue in local currencies such as the Zimbabwe Gold South African rand. Most of LIT’s customer contracts “do not include any price escalation mechanisms, exposing LIT to inflation and currency depreciation” risks.
LIT’s contracts, however, leaves some room for price increases to cover for this as they can be renegotiated periodically, usually on an annual basis while in some countries these have to be approved by the local regulator, adding some regulatory risks and volatility to earnings.
In the case of MTN, in the 18 months to June 2024, the operator’s financial performance suffered significantly from depreciation in Nigeria’s naira.
MTN’s “naira earnings became worth less” when translated into rand, significantly contributing to its 20% drop in group revenue over the half-year period to the end of June.
To offset currency depreciation, mobile network operators operating in volatile markets such as in the case of MTN are resorting to raising tariffs in line with inflation, which is usually correlated to depreciation.
LIT’s strategy to reduce exposure to currency depreciation comes in the form of matching its rand earnings with rand-denominated debt.
However, there remains a mismatch between revenue earned in other local African currencies and its dollar-denominated debt for around 45% of earnings before interest, taxes, depreciation, and amortization (Ebitda) including Zimbabwe and around 20% of Ebitda when excluding Zimbabwe.
“Zimbabwe continues to experience high inflation and a weakening currency, even after the introduction of the new currency Zimbabwe gold (ZiG) in April 2024. Even though dollar availability has improved, there remain limitations on converting any cash generated in Zimbabwe into dollars and on moving it out of the country,” notes the Moody’s report on the regional telecoms sector.
Telecom
NCC Berates Starlink for Unauthorized Data Tariff Increase
Nigerian Communications Commission (NCC) has refuted report by an online platform that it gave approval to Starlink to hike its Data tariff.
The commission in a statement released on Tuesday by Reuben Muoka, director, Public Affairs stated that the tariff hike did not receive the blessing of the commission, noting that the decision was unilaterally taken without its consent.
The statement reads, “The decision by Starlink to unilaterally review its subscription packages upwards did not receive the approval of the Nigerian Communications Commission (NCC).
“We were surprised that the company jumped the gun by announcing price changes after filing a request to the Commission seeking approval for price adjustment for which the Commission was yet to communicate a decision.
“The action of the company appears to be a contravention of Sections 108 and 111 of the Nigerian Communications Act (NCA) 2003, and Starlink’s Licence Conditions regarding tariffs.
“The Commission will, therefore, take appropriate enforcement measures against any action by a licensee that is capable of eroding the regulatory stability of the telecommunications industry”.
News
NASENI Trains Procurement Officers, Others on Global Best Practices
National Agency for Science and Engineering Infrastructure (NASENI) is organizing a 3-day procurement in-house training for all procurement and other relevant officers in NASENI system -wide to acquaint them with best procurement operations and in line with global practices.
The training will take place at the NASENI Headquarters, beginning from Tuesday 8th to 10th October, 2024, targeted at building the capacity of procurement officers, and other select staff from Accounts, Audit, legal, Media, Planning and other officers involved in procurement activities in NASENI System-wide.
The Executive Vice Chairman/Chief Executive Officer, NASENI, Mr. Khalil Suleiman Halilu will deliver the keynote address while Olusegun Omotola, Ag. Director General/CEO, Bureau of Public Procurement will declare the in-house training officially open.
The training amongst other things aims at ensuring that NASENI is doing the right thing and adhering to 2007 Procurement Act, Manual and other vital information that will enable the Agency to continue on the right track and to utilize the right information at every given time, as far as procurement matters are concerned.
Speaking on the upcoming training, the Director of Procurement, Dr. Mohammed A. Mohammed said that the training is based on NASENI needs and to enable officers meet up with changes in technology and practices which are global phenomenon, especially against the backdrop of on-going transformation in the NASENI system.
He said, “Things are changing, and you need to change with time, technology is changing globally, you need to build your capacity. This training is based on NASENI Needs on procurement which is slightly different from other sectors.
“Almost 75-80 per cent of NASENI activities is based on science and engineering, our method of procurement, is a little different, from the ministry of works, raw materials, etc. Again, you must build your capacity to be able to cope, which is why we are having this training, to build capacity in line with NASENI needs and mandate.”
According to him, building capacity is a continuous exercise and procurement is all about law end to end, adding that the officers working in procurement must be trained from time to time to equip them with new trends.
He also noted that with the Standard Operation Procedure globally and the World Bank new version on procurement, NASENI cannot work differently, it must key into global practices. He stated that 95 per cent of the resource persons for this training are from the Bureau of Public Procurement (BPP) as NASENI has an agreement with it, to assist in building the capacity of procurement and relevant officers in NASENI system-wide.
Also speaking on the upcoming in-house procurement training, Mr. Adekoya Olatunji, BPP consultant, said, that “the In-house training that is coming up in NASENI is very good, it will enable the officers to adhere strictly to procurement Act. What NASENI is doing is very good, so that the officers will do what they need to do very well”.
Highlights on some of the topics of the training with the theme: “Building the Best Procurement Operations in NASENI System-Wide” includes, Effective Procurement Practices & PPA, 2007, Procurement Planning, Procurement Record Keeping Procedures, Contract Agreement and Implications amongst others.
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