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CGAP Examines the Future of m-Banking

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Government and industry activism is vital if the potential of mobile banking is to be fully tapped to bring financial services to the world’s poor over the next 10 years, according to a report from World Bank think tank Cgap and the UK’s department for international development.
The report says current hype about the potential of branchless banking is running ahead of reality. Massive sustained success in reaching the poor requires more accurate insights on their financial needs and adoption behaviour.
Branchless banking, notably through mobile phones, will inevitably grow in most countries over the next 10 years, says Cgap. Across Africa, Latin America and Asia, the number of people who do not have a bank account but do have a handset is set to grow from 1 billion today to 1.7 billion by 2012.
However, it’s far less certain whether large numbers of the unbanked poor will use these alternative channels for financial services beyond payments, such as savings and credit.
How much progress is made by 2010 relies heavily on four forces that will shape branchless banking, says the report. Demographic changes – including a greater number of younger consumers coming into the market and greater mobility at least within countries – will be favourable for the adoption of branchless banking.
Activist governments will play a greater role as regulators of the financial sector, providers of social safety nets, and providers or encouragers of the rollout of low-cost bank accounts and financial infrastructure. While security concerns about cash crime will continue to drive the adoption of electronic transaction channels, the rise of e-crime will affect consumer confidence and test the risk management of financial providers.
Finally, the report identifies Internet browsing via mobile phones as an important factor, reducing costs of financial transactions and enable new players to offer financial services.
Elizabeth Littlefield, CEO, Cgap, says: "Mobile banking pioneers give us hope that millions of poor people, especially those living in rural areas, finally might be served by the banking system. That said, new business models and partnerships that provide the right incentives to banks and banking agents are vital if we are to move beyond simple payments and transfers to being able to offer other basic banking services, especially savings, that poor people need and want."
Gareth Thomas, UK minister for trade and development, adds: "The poor are kept in poverty when they are financially excluded. This means they lack safe places to save money, the opportunity to invest in their future and cannot reduce the risk of their savings being lost in natural disasters. As this report shows, governments and the private sector both have a huge role to play in ensuring investment is made to deliver technology-based financial services to billions of poor people.

 


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Kaspersky Reveals a New Malicious Framework Targeting Cryptocurrency Users with the Use of OkoSpyware

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At its recent annual Cyber Security Weekend for the Middle East, Turkiye and Africa (META) region, Kaspersky Global Research and Analysis Team (GReAT) shared insights about the new OkoBot campaign targeting cryptocurrency users.

The new sophisticated framework employs TookPS to exfiltrate seed phrases and uses a new OkoSpyware module to monitor Chromium-based browsers and deploy various malware strains, including the Rilide stealer.

It has already targeted hundreds of victims across over 25 countries, with the highest number of affected end users recorded in Brazil, Vietnam, Canada, Mexico and Turkiye. According to Kaspersky experts, the threat remains active and primarily poses a risk to cryptocurrency users.

In January 2026, experts from the Kaspersky Global Research and Analysis Team (GReAT)  identified multiple attacks involving a previously unknown malware capable of capturing the contents of cryptocurrency wallet windows. Dubbed Okobot, the new sophisticated malware framework comprises more than 20 malicious payloads and implants designed to perform a wide range of functions, including collecting local files, executing remote commands, downloading arbitrary browser extensions, stealing cryptocurrency wallets, harvesting seed phrases and credentials, recording video and carrying out other malicious activities.

One of the new implants used in the campaign is a loader that modifies browser memory to load and hide malicious extensions. OkoBot also includes a new OkoSpyware module, which captures keystrokes and the video stream of a target application’s window.

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Currently available information does not allow the campaign to be attributed to any known crimeware actor with high confidence. However, the techniques and infostealer involved are widely used by Russian-speaking threat actors, and technical analysis has also revealed code artifacts in Russian.

The initial infection typically occurs through two main vectors: ClickFix attacks, in which threat actors use social engineering to trick users into running malicious code, and malware distributed via GitHub under the guise of legitimate software. During the investigation, researchers identified one such case involving a fake installer for SQL Server Management Studio (SSMS), a widely used Microsoft database management tool.

The malicious framework includes SeedHunter, a malware component that monitors active system processes and injects an implant into Trezor Suite, Ledger Wallet, and Ledger Live, – official applications used to manage cryptocurrency assets. When it detects a connected Trezor or Ledger hardware wallet, it triggers the hooked functions to display a hard-coded phishing page aimed at stealing the user’s seed phrase, using a distinct layout for each wallet type.

“The OkoBot campaign has been active for more than a year and remained ongoing as of July 2026. The observed infection vectors strongly suggest that developers are among its primary targets. Of particular concern is the malware’s continued evolution, which indicates that the framework is being actively maintained. As distribution efforts persist, the campaign has the potential to reach more users and expand into additional countries in the near term,” says Dmitry Galov, Head of the Russia and CIS unit at Kaspersky Global Research and Analysis Team.

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Firm to recruit over 100 professionals to boost NRS e-Invoicing compliance

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Afri Invoice, one of Nigeria’s leading accredited e-invoicing service providers, has announced plans to recruit more than 100 professionals nationwide to strengthen support for the Nigeria Revenue Service’s (NRS) mandatory e-invoicing compliance programme.

The recruitment campaign, is aimed at expanding the company’s workforce to meet the growing demand for digital tax infrastructure and help businesses transition smoothly to the country’s evolving e-invoicing regime.

According to the company, the new positions will be spread across Nigeria’s six geopolitical zones to ensure businesses receive timely, localised support as they adapt to the new tax compliance framework.

The vacancies cut across several key departments, including Information Technology (IT), Marketing and Digital Marketing, Audit, Legal, Human Resources and multi-site office operations.

Afri Invoice said applicants are expected to possess relevant professional experience, particularly in managing operations across multiple locations and supporting organisational growth.

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The company explained that the latest recruitment drive builds on a similar exercise conducted last year, which significantly expanded its operational reach and increased its capacity to onboard clients nationwide.

With the NRS intensifying the implementation of mandatory e-invoicing, Afri Invoice said it is investing in additional manpower to ensure uninterrupted service delivery, efficient client onboarding and expert technical support for businesses of all sizes.

Speaking on the expansion, the Founder and Chief Executive Officer of Afri Invoice, Mark Odenore, said the company remains committed to helping Nigerian businesses comply with the new tax regulations through innovative technology and professional support.

“As the national drive toward comprehensive e-invoicing gathers momentum under the Nigeria Revenue Service, our mission is to ensure that Nigerian businesses have a reliable, accredited partner to navigate this transition effortlessly,” Odenore said.

He added that recruiting more than 100 professionals across the country’s geopolitical zones would significantly strengthen the company’s ability to provide quality technology solutions and customer support nationwide.
Interested and qualified candidates have been encouraged to submit their applications through Afri Invoice’s official careers portal.

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Afri Invoice is an accredited e-invoicing service provider that offers digital solutions designed to simplify financial processes, improve tax transparency and support businesses in complying with national tax regulations while enhancing supply chain and financial management.

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CMS T&M Launches TMO Rides to Enable a Faster & Cashless Transport Experience for CMS – Ajah Passengers

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CMS Transport Management (CMS T&M), one of Lagos’ longest-standing and most trusted transport operators, officially launches a new service known as TMO Rides.

CMS T&M Launches TMO Rides to Enable a Faster & Cashless Transport Experience for CMS – Ajah Passengers

This new initiative is designed to simplify the daily commute by introducing seamless cashless payments for passengers across its bus network.

For over 58 years, CMS T&M has played a significant role in moving millions of passengers daily along the CMS – Ajah routes through its fleet of high-capacity buses popularly.

The launch of TMO Rides marks another milestone in the company’s journey toward building a smarter, more efficient transport experience.

Through the initiative, passengers will have access to TMO Cards for a seamless transport. This is more exciting because TMO launches with 2 consecutive apps.

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These apps help to eliminate the need for cash transactions while reducing boarding delays and create a more convenient experience for passengers.

Beyond introducing digital fare payments, the initiative reflects CMS T&M’s broader commitment to modernize public transportation through innovation, operational efficiency and improved customer experience.

CMS T&M operates within Nigeria’s regulated transport ecosystem as a registered member of the BRT Association of Nigeria (BRTAN), where it is also an equity stakeholder, reinforcing its commitment to a cooperative-driven transport system.

The company is equally registered with the Lagos Metropolitan Area Transport Authority (LAMATA), the agency responsible for planning, regulating and franchising public transportation in Lagos State, and is also a member of the National Union of Road Transport Workers (NURTW) that promotes safe and organized road transport operations.

Speaking on the launch, Andy, Managing Director of CMS T&M, said: “For nearly six decades, our focus has remained the same, which is moving people safely and efficiently.

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“As the transportation needs of Lagos continue to evolve, we must evolve with them. TMOx Rider is about making everyday commuting easier by giving our passengers a faster, more convenient way to pay while improving the overall travel experience.

“This launch represents another important step in our commitment to building a smarter, more accessible transport system for everyone.”

The launch of TMO Rides forms part of CMS T&M’s long-term vision of embracing technology to improve public transportation without compromising the trust and consistency the passengers have relied on for generations.

The cashless payment infrastructure empowering TMO Rides is enabled by Treepz, whose mobility technology supports digital fare collection and operational efficiency.

By providing the technology behind the initiative, Treepz is helping CMS T&M expand access to modern, seamless transportation while advancing a shared vision of making everyday mobility more connected, convenient and accessible across Lagos.

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Visit our website: https://www.cmstaxiandmotor.com/

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