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General News

Educatial to Enhance Learning, Teaching Using SaaS Platform

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L-R: President, National Association of Proprietors of Private Schools(NAPPS), Chief Yomi Otubela; Founder, Educatial, Mr. Francis Muofunanya; Council member, NIPR, Mrs. Nkechi Ali-Balogun and Deputy Vice-Chancellor, Covenant University, Prof. Olujide Adekeye during a reveal Stakeholder Roundtable for Educatial Digital Platform in Lagos on Thursday, May 4, 2023.
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Educatial, a software-as-a-service (SaaS) educational platform designed to enhance the learning and teaching experience for all individuals – students and professionals alike has been launched in Nigeria.

L-R: President, National Association of Proprietors of Private Schools(NAPPS), Chief Yomi Otubela; Founder, Educatial, Mr. Francis Muofunanya; Council member, NIPR, Mrs. Nkechi Ali-Balogun and Deputy Vice-Chancellor, Covenant University, Prof. Olujide Adekeye during a reveal Stakeholder Roundtable for Educatial Digital Platform in Lagos on Thursday, May 4, 2023.

The platform dubbed “one-stop shop for everything education” is built to revolutionize and democratize e-learning ecosystem as well as help to unlock the great potentials of Africa’s young population.

Mr. Francis Muofunanya, chairman and Founder of Educatial, speaking at the unveiling on Thursday, in Lagos, said that the platform will usher in quality and affordable education at all levels including primary, post-primary and tertiary institutions in Nigeria, Africa and beyond.

He explained that they are committed to transforming the ecosystem for present and future generations of Africa’s young population.

According to him, “emphasis have shifted from predominantly physical classrooms as centres of learning to online classrooms in smart phones and other devices of the user.

“As more learning happens online, he said education is overwhelmed and in need of a learning ecosystem that provides a unified solution to all aspects of learning.

“Educatial was developed by indigenous systems engineers in response to this need.

“It is an exciting software-as-a-service ecosystem platform for the education sector focused on transforming learning for present and future generation.

“Educatial provides a ‘one-stop-shop’ including hardware, software, infrastructure, hosting and support. Our focus is on teaching learners how to learn, training professionals in career-focused skills and equipping educators for success”.

“We believe that Educatial will engage the youths and help them acquire the relevant skills that will empower them to play at the global stage and hence curb excessive migration to other developed countries otherwise known as japa in search of better education and good paying jobs”, he added.

Similarly, Mr Celestine Achi, a Digital Strategist, in his presentation titled: “What is Educatial” averred that Educatial was carefully curated for next-gen EdTech Ecosystem, with laser- focus on transformational learning for today and tomorrow students in Nigeria and beyond.

According to him, “At Educatial, we firmly believe that education can be a transformative force in the world.

“We have designed our Software-as-a-Service Ecosystem Platform specifically to help educational institutions build a stronger future and continually evolve to best serve their students and communities around the globe.

“Our commitment to transforming the education sector drives us to provide a comprehensive solution that meets all software needs in one place.

“Our platform is built to simplify the management of educational institutions, offering a suite of powerful software tools that streamline daily operations, improve student outcomes, and enhance the overall learning experience.

“We offer a range of software solutions, from student management systems and online learning platforms to digital libraries and parent communication portals. With our platform, educational institutions have everything they need to thrive in the modern world and provide their students with the best possible learning experience”.

Highlighting the key features of the platform, Achi noted that it offers a comprehensive, community-led learning ecosystem that can be used with or without an internet connection.

He added that Educatial has 22 unique solutions that stands out from other educational platforms, these tools according to him, were specially curated to enhance community-led learning.

He said, “We are committed to providing a one-stop-shop for all segments and sub-segments, simplifying the learning and learning administration process for all users.

“With Educatial, learners, teachers, administrators, and content creators alike can enjoy a seamless, hassle-free learning experience that addresses all their needs in one place.

“Whether you’re looking for a platform that provides online classes, community-led learning, or learning administration tools, Educatial is the solution you’ve been searching for”.

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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General News

Moove Plans to Raise $1.2Bn Debt Round for US Autonomous Vehicle Expansion

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Moove, an African mobility fintech startup, is on a quest to secure a $1.2 billion debt financing round to support the rollout of a fleet of autonomous vehicles.

This is in partnership with Alphabet Inc.’s Waymo in the United States, according to a Bloomberg report citing sources familiar with the matter.

The startup has since attracted backing, including from Uber Technologies Inc., and entered a strategic partnership with Waymo in December 2024 to provide financing for self-driving cars.

Ladi Delano, co-founder of Moove, noted that the company has a solid financial track record.

“Moove has built strong relationships with some of the world’s leading lenders. We have also fully repaid our first-ever debt facilities, which signals our maturity and marks a key milestone that demonstrates the strength of our platform as we enter the next phase of global autonomous-vehicle infrastructure deployment,” he said.

The round is reportedly oversubscribed, with strong participation from private credit firms and banks.

Waymo has also not made any official statement regarding the funding round. While final details are expected to be concluded in the coming weeks, the deal will mark a significant milestone for the firm as it ramps up its global ambitions.

Founded in 2020 by Nigerian entrepreneurs, Ladi Delano and Jide Odunsi, Moove began by providing vehicle financing for ride-hailing drivers in Africa’s largest cities.

 


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Firm Explores the Evolution of AI-powered Ransomware with Password-gated Capabilities

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Kaspersky experts have revealed the inner workings of FunkSec — a ransomware group that illustrates the future of mass cybercrime: AI-powered, multifunctional, highly adaptive and operating on volume with ransoms as low as $10,000 to maximise profits.

Kaspersky’s Global Research and Analysis Team (GReAT) constantly monitors the ransomware threat landscape, where attacks continue to rise. According to the company’s latest State of Ransomware report, the share of users affected by ransomware attacks worldwide increased to 0.44% from 2023 to 2024, up by 0.02 percentage points.

While this percentage may appear modest compared to other cyber threats, it reflects the fact that attackers typically prioritise high-value targets rather than mass distribution, making each incident potentially devastating. Within this evolving landscape, FunkSec has emerged as a particularly concerning threat.

Active for less than a year since its emergence in late 2024, FunkSec has quickly surpassed many established actors by targeting government, technology, finance and education sectors. What sets FunkSec apart is its sophisticated technical architecture and AI-assisted development.

The group packages full-scale encryption and aggressive data exfiltration into a single Rust-based executable, capable of disabling over 50 processes on victim machines and equipped with self-cleanup features to evade defenses.

Beyond its core ransomware functionality, FunkSec has expanded its toolkit to include a password generator and a basic DDoS tool — both showing clear signs of code synthesis using large language models (LLMs).

FunkSec’s approach reflects the evolving landscape of mass cybercrime, combining advanced tools and tactics. Kaspersky’s GReAT experts highlight the key features that define their operations:

Password-Controlled functionality

GReAT experts discovered that FunkSec ransomware features a unique password-based mechanism that controls its operation modes. Without a password, the malware performs basic file encryption, while providing a password activates a more aggressive data exfiltration process in addition to encryption to steal sensitive data.

FunkSec packs full-scale encryption, local exfiltration and self-cleanup into a single Rust binary—without a side-loader or a companion script. That level of consolidation is uncommon and gives affiliates a plug-and-play tool they can deploy almost anywhere.

Use of AI in development

Code analysis shows that FunkSec is actively using generative artificial intelligence to create its tools. Many parts of the code seem to be automatically generated rather than manually written. Signs of this generic placeholder comments (such as “placeholder for actual check”) and technical inconsistencies, like commands for different operating systems that don’t align properly. Additionally, the presence of declared but unused functions—such as modules included upfront but never utilised — reflects how large language models combine multiple code snippets without pruning redundant elements.

“More and more, we see cybercriminals leveraging AI to develop malicious tools. Generative AI lowers barriers and accelerates malware creation, enabling cybercriminals to adapt their tactics faster.

By reducing the entry threshold, AI allows even less experienced attackers to quickly develop sophisticated malware at scale,” comments Marc Rivero, Lead Security Researcher at Kaspersky’s GReAT.

High-volume, low-ransom strategy

FunkSec demands unusually low ransom payments, sometimes as little as $10,000, and pairs this with the sale of stolen data at discounted prices to third parties. This strategy appears designed to enable a high volume of attacks, helping the group quickly establish its reputation within the cybercriminal underground. Unlike traditional ransomware groups that seek million-dollar ransoms, FunkSec employs a high-frequency, low-cost model — further underscoring its use of AI to streamline and scale operations.

Expands beyond ransomware

FunkSec has expanded its capabilities beyond the ransomware binary. Its dark leak site (DLS) hosts additional tools, including a Python-based password generator designed to support brute-force and password-spraying attacks, as well as a basic DDoS tool.

Advanced evasion

FunkSec employs advanced evasion techniques to avoid detection and complicate forensic analysis. The ransomware is capable of stopping over 50 processes and services to ensure thorough encryption of targeted files. Additionally, it includes a fallback mechanism to execute certain commands even if the user launching FunkSec lacks sufficient privileges.

 


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IMF Raises Nigeria’s 2025 GDP Growth Forecast to 3.4%

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International Monetary Fund (IMF) has projected a 3.4 percent expansion in Nigeria’s real Gross Domestic Product (GDP) for 2025, following the conclusion of its annual Article IV consultation with the country.

The IMF announced the forecast in a statement on Wednesday, highlighting progress in macroeconomic reforms while cautioning about persistent vulnerabilities.

The Article IV consultation is a regular assessment of a country’s economic performance and policy framework by the IMF’s executive board. The latest review reflects cautious optimism about Nigeria’s economic trajectory amid ongoing reform efforts.

According to the IMF, Nigeria’s growth in 2024 reached 3.4 percent, mainly driven by increased hydrocarbon production and a robust services sector. However, agricultural output remained subdued due to security challenges and falling productivity.

The IMF expects the positive momentum to continue into 2025, supported by the start of operations at a new domestic refinery, higher oil production, and sustained performance in services. It projected that medium-term growth would remain around 3.5 percent, buoyed by domestic reforms despite an uncertain global environment.

“The Nigerian authorities have implemented major reforms over the past two years which have improved macroeconomic stability and enhanced resilience,” the Fund stated. “The authorities have removed costly fuel subsidies, stopped monetary financing of the fiscal deficit, and improved the functioning of the foreign exchange market.”

The IMF said investor confidence has improved, noting Nigeria’s successful re-entry into the Eurobond market and the resumption of portfolio inflows. However, it acknowledged that poverty and food insecurity have worsened, pushing the government to prioritize inclusive growth.

The report also highlighted positive trends in external reserves, foreign exchange market stability, and inflation. It noted that inflation dropped to 23.7 percent year-on-year in April 2025 from an annual average of 31 percent in 2024, based on the rebased Consumer Price Index released by the National Bureau of Statistics.

“Naira stabilization and improvements in food production brought inflation to 23.7 percent… Inflation should decline further in the medium-term with continued tight macroeconomic policies and a projected easing of retail fuel prices,” the IMF said.

On the fiscal front, the Fund said revenue gains from currency depreciation, improved administration, and higher grants helped offset rising interest payments and administrative costs, leading to improved fiscal performance in 2024.

Despite the progress, the IMF warned of growing risks. It said falling global oil prices or rising financing costs could negatively impact Nigeria’s economic stability. “A further decline in oil prices or increase in financing costs would adversely affect growth, fiscal and external positions, undermine financial stability and exacerbate exchange rate pressures,” it said.

The IMF further cautioned that any deterioration in domestic security could derail growth and worsen food insecurity across the country.


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