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Central Bank, Iran, Pakistan Adopt Common Banking Rules

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The eight-member developing economies are adopting a common regulatory framework for their banking sectors.
Members of the D-8 are Nigeria, Egypt, Malaysia, Turkey, Iran, Bangladesh, Indonesia and Pakistan.
Nigeria has 24 banks, some of which are recovering from financial slowdown. Three of them are foreign banks.
Central Bank Governor Sanusi Lamido Sanusi said at the event that it is necessary to review and adopt common regulatory regimes to safeguard financial system and forestall a recurrence of the “recent experience in our countries.”
He said Nigeria would learn from the member countries their experiences in non-interest banking and microfinance.
He noted that the objective of the D-8 Governors’ Meeting was to provide the modalities and mechanism of economic and financial cooperation among member countries.
According to him, the D-8 central bank governors’ interaction is envisaged to deepen and broaden the exchange of ideas among individual countries for more effective policy implementation.
“As D-8 Governors, this meeting is expected to strengthen cooperation in our key areas of responsibility," he said.
In the same vein, Olusegun Aganga said, finance minister said: “The members in 2007 agreed on the roadmap for economic cooperation and among the key areas of the road map is the financial cooperation”.
According to him, the mandate of the meeting is to strengthen surveillance mechanisms, enhance domestic financial systems and develop an integrating market.
The minister also enjoined the governors to ensure that the role of central banks on economic policy and implementation were effectively implemented.
He commended the efforts of the D-8 Secretariat in bringing the central banks into mainstream of its activities.
“I must stress that the areas of cooperation of the D-8 central banks drawn up by the secretariat for your meetings are very important, especially for trade facilitations.
“As developing countries, we owe ourselves the duty to promote trade among ourselves in other to grow our economy at a faster rate that none South trade can ordinarily afford us,” he said.
On the local scene, Mr. Aganga said that the federal government is trying to identify sources of funding for the National Sovereign Wealth Fund it is setting up to replace the Excess Crude Account.
When it comes on board, the NSWF would be managed by local and international advisers and would not be subjected to direct control by the government.
“The Sovereign Wealth Fund that is not own by the government but by Nigerians”, he said.
Aganga said the Sovereign Wealth Fund was instituted to benefit the current and future generations.
“You should remember that oil is a depleting asset and when you sell it, you are selling your asset, it is not fair for the current generation only to benefit from it, you must save for the coming generation”, the minister said.
He said there are three objectives for which the Fund would be used:
“One is for the fund to have a box – a portion that is the stabilizing fund – to support whatever project that you have. The second is that you want to have a saving portion for the future generation and the large portion of that should run like infrastructural fund. Thirdly, It is going to serve as a catalyst for bringing in local and international investors,” he said.
Odein Ajumogobiam, minister of Foreign Affairs said at the event that the Federal Government will encourage private sector-led initiatives in all areas of economic development among member nations of the D-8 group.

 


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Breaking News…Hackers Allegedly Expose EFCC Data, Operatives’ Identities

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Nullsec Nigeria, a threat actor, has claimed responsibility for leaking the identities of operatives and sensitive internal data linked to the Economic and Financial Crimes Commission (EFCC).

Breaking News...Hackers Allegedly Expose EFCC Data, Operatives’ Identities

Ola Olukoyede, chairman, EFCC

The leak raises fresh concerns over cybersecurity vulnerabilities within Nigerian public institutions and safety the agency’s operatives.

The breach surfaced on April 21 on a dark web forum, where a user identified as “ki4t,” reportedly affiliated with the group, published details of the dataset.

The exposed data is said to include agent names, phone numbers, operational code names, and password hashes tied to EFCC personnel.

The breach allegation comes amid growing concerns over cyber risks facing government agencies, following a recent reported compromise involving the Corporate Affairs Commission (CAC).

Cybersecurity analysts say that if confirmed, the exposure of such sensitive operational data could pose risks to both personnel security and ongoing enforcement operations, particularly if password hashes are successfully decrypted or linked to other compromised systems.

The development adds to increasing pressure on public institutions to strengthen digital infrastructure, access controls, and internal cybersecurity protocols as threat actors continue to target government databases.

Authorities are yet to confirm the extent of the alleged breach or whether any mitigation measures have been activated.

Nigeria has lately experienced a growing activities of hacktivists defacing websites and leaking data.

 

 

 


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Leo Stan Ekeh Foundation to Open Portal for 1,000 University Tech Scholarships on Monday

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The Leo Stan Ekeh Foundation (LSEF), in collaboration with TD Africa, Konga Group, Zinox Technologies, and Task Systems, is set to officially launch its highly anticipated scholarship programme aimed at empowering 1,000 exceptional Nigerian indigent whiz-kids in the field of technology.

Leo Stan Ekeh Foundation to Open Portal for 1,000 University Tech Scholarships on Monday

Leo Stan Ekeh

The dedicated application portal, initially scheduled to go live on April 22, will now launch on  Monday,  April 27, 2026, following final technical enhancements to ensure a seamless, secure, and transparent application experience for prospective candidates nationwide.

This landmark initiative, first announced by Leo Stan Ekeh, Africa’s foremost tech icon and chairman of Zinox Group, forms part of his unwavering commitment to national development and youth empowerment.

The programme was unveiled on February 22, 2026, when Ekeh marked his 70th birthday. Rather than host an elaborate celebration befitting a man of his stature, he chose to channel resources into a cause that would create long-term impact for an economy, offering university scholarships to indigent but brilliant Nigerian youths to study Computer Science in federal institutions.

Building on a legacy of over 6709 beneficiaries trained over four decades by him and his companies, Mr. Ekeh at the time said the goal is to nurture a new generation of highly skilled technology professionals capable of supporting both the private and public sectors, while positioning Nigeria for greater competitiveness in the global digital economy.

This vision reflects his decades-long commitment to building sustainable  positive disruptive capacity within Nigeria’s technology ecosystem that shall alter the nation’s GDP.

The scholarship programme is designed to transcend mere financial support, offering beneficiaries access to a comprehensive ecosystem powered by the initiative’s distinguished partners. Beneficiaries will receive technical support, mentorship by very successful members of Nigeria Compute Society, and industry exposure to ensure that recipients are equipped with practical, market-relevant skills.

This multi-faceted approach ensures that scholarship beneficiaries gain not only theoretical knowledge but also hands-on experience and professional networks that will propel their careers in technology.

By leveraging the combined expertise and infrastructure of these industry leaders, the initiative is poised to deliver a transformative learning experience that prepares young Nigerians to compete effectively on the global stage. Beneficiaries will emerge as future-ready innovators capable of driving digital transformation across sectors and contributing meaningfully to Nigeria’s economic growth.

The initiative builds on the longstanding legacy of Leo Stan Ekeh, whose contributions to Nigeria’s technology landscape and by extension Africa have spanned decades and fundamentally reshaped the nation’s digital infrastructure. From pioneering indigenous computer manufacturing through Zinox Technologies to driving digital transformation across public and private sectors, Ekeh has consistently demonstrated a commitment to building sustainable technological capacity within Nigeria.

His investments in digital infrastructure, talent development, and indigenous innovation have positioned Nigeria as a formidable player in the global technology landscape.

This scholarship programme represents the latest chapter in that transformative journey, directly addressing the critical need for skilled technology professionals in an increasingly digital global economy.

As anticipation builds ahead of the April 27 launch, interested applicants are advised to visit the Konga.com website and click the Foundation banner on 1000 Tech Scholarships Awards where the application link and detailed participation guidelines will be published on the launch date. The organisers have assured that the selection process will be merit-driven, inclusive, and transparent, with a focus on identifying truly outstanding young talents from across Nigeria’s diverse regions.

 


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US Library Blames Hackers for Viral Posts Urging Violence in Nigeria

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Westerville Public Library, a public library that serves the community of Westerville, Ohio, a suburb of Columbus in United States is in the news after its social account urged violence against Nigerian politicians.

US Library Blames Hackers for Viral Posts Urging Violence in Nigeria

Library staff said the inflammatory messages were not written by any employees and moved quickly to purge the feed and regain control of the account, rattling regulars who are used to the library’s usually low-traffic presence in Uptown Westerville.

The Columbus Dispatch reported that the library’s X account first posted a message calling for the death of Nigerian politicians, starting with the country’s president.

According to the paper, most of those posts were wiped from the feed within about half an hour.

The Dispatch also noted that the account had been sitting dormant since 2024 before the violent statements suddenly went live, and its full report includes the timeline and language that circulated on the platform.

After the posts appeared, the library issued a short note on X that read, “Please disregard any recent posts you may have seen from the Westerville Library on this platform today. Thank you for your understanding.” As reported by The Columbus Dispatch, communications director Tamara Murray told the paper the account was hacked shortly before the messages were published and that staff were working to recover passwords.

The library did not immediately say whether law enforcement had been notified.

 

 


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