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FG to Grant Technology Start-ups Tax Holidays

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Vice-President Yemi Osinbajo has said the Federal Government is including technology start-ups and businesses in the list of businesses eligible for tax holidays.

Osinbajo spoke in Lagos while inaugurating Vibranium Valley, a hub for technology and innovation start-ups described as the largest in sub-Saharan Africa.

The Vice President said Vibranium Valley, established by Venture Garden Group, could become Nigeria’s next innovation cluster housing tech firms devoted to talent, data and entrepreneurship.

Vibranium Valley, located within the expansive grounds of the former Concord Newspaper Headquarters in Ikeja, consists of “world-class office spaces” fully furnished to meet the needs of up to 50 tech start-ups.

According to Bunmi Akinyemiju, the firm’s Chief Executive Officer (CEO) and its Executive Director Kunmi Demuren, the “Campus” already houses “over 20 tech-driven companies.”

The Vice President, who delivered a keynote address on ‘The role of technology and entrepreneurship in nation building’, praised tech innovators for providing “technology-driven solutions to some of the most difficult development problems confronting us today.”

Osinbajo said: “Today’s event is devoted to talent, data and entrepreneurship.  These three things represent the Vibranium of Africa.

“Vibranium Valley, similar to Yaba, could be the next innovation cluster where mature tech companies can be housed, to drive the industrial revolution, and exports of ‘innovation’ for the country.

“On the part of government, we are putting our money where our mouth is. We believe it is our role to provide the environment where innovation can thrive, so, we are including technology start-ups and businesses in our list of businesses eligible for pioneer status and that means tax holidays.

“Also both the Central Bank and the Bank of Industry are working on intervention funds and loans for technology start-ups, while we have till date opened about three state-of-the art technology hubs. These are government-supported technology hubs.”

The hubs include the Northeast humanitarian technology hub in Yola, Adamawa State, which specialises in innovation for victims of conflict. The South-south innovation hub in Benin, Edo State and the climate change technology hub to be launched at the Pan African University, Lagos.

Akinyemiju, who described Vibranium Valley as the “Campus”, said it would serve as a hub for tech start-ups which “will build an entrepreneur ecosystem, where people can be inspired to create companies and ultimately be able to create employment.

“Nigeria needs to take disruptive approaches to development challenges in infrastructure, financial inclusion and education to become the Africa’s first ‘start-up nation.’


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Cybersecurity Firm Uncovers CrystalX RAT which Steals Data and Mocks its Victims

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Kaspersky Global Research & Analysis Team (GReAT) has uncovered an active malicious campaign distributing a previously undocumented RAT with a very broad feature set. Beyond the standard remote access trojan functionality, it combines stealer, keylogger, clipper, and spyware capabilities.

Cybercriminals are selling it to third parties as MaaS (malware-as-a-service) promoting it on YouTube and Telegram, increasing the likelihood of its use across a wider range of actors, including less-skilled operators.

Due to its stealer functionality, the malware can collect a wide range of data about its victim: it gathers system information, extracts credentials for Steam, Discord and Telegram, and also harvests data from web browsers. It also poses a threat to cryptocurrency users, as it includes a browser-based clipper that replaces crypto wallet addresses.

Beyond data theft, CrystalX RAT is capable of full-scale surveillance, with the ability to take screenshots, record audio from the microphone, and capture video from both the webcam and the victim’s screen.

Particularly notable is the CrystalX RAT “playful” Prankware feature set, which is actively promoted by the developers. These capabilities allow operators to visibly interfere with the victim’s system by shaking the mouse cursor, setting wallpapers on the victim’s screen, changing screen orientation, hiding desktop icons, forcing system shut downs, and even delivering real-time pop-up notifications and messages to the victim.

While seemingly trivial, these features introduce a disruptive and psychological dimension to the attack, making the attack both visible and distressing for the victim.

Kaspersky reports attacks targeting users in Russia, but the trojan has the potential to spread to other countries due to its sales and distribution model.

“Such a diverse feature set effectively enables a 360-degree compromise of the victim and a complete loss of privacy. Beyond gaining access to account credentials, the stolen data could potentially be used for blackmail.

“At the moment, the initial infection vector is not precisely known, but it is already affecting dozens of victims. Our telemetry is already detecting new versions of the implants, indicating that this malware is still actively developed and maintained.

“We expect the number of victims to grow significantly and its geographic spread to expand in the near future,” says Leonid Bezvershenko, senior security researcher at Kaspersky GReAT.


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Microsoft Revamps Copilot in Workplace AI Push

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Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.

The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.

Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.

Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.

“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.

Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.

A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.

The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.

Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.

The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.

 


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Dangote Refinery Debunks Speculations on IPO

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Dangote Petroleum Refinery and Petrochemicals (DPRP) has debunked recent circulation of unauthorised information regarding a potential Initial Public Offering (IPO).

Dangote Refinery Debunks Speculations on IPO

In a statement, DPRP noted that several online platforms and unofficial sources have published unverified, and in some instances inaccurate, information relating to a potential offering.

“Such reports do not originate from DPRP and should be treated with caution. All official updates regarding any potential transaction will be communicated strictly through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in line with applicable laws and regulatory requirements.

“Accordingly, the public, investors, and all market participants are strongly advised to disregard speculative commentary and rely solely on verified information formally issued by DPRP or its authorised representatives,” the statement said.

The firm assured stakeholders that, when appropriate, comprehensive, and accurate details regarding any proposed transaction will be made available through official channels, including regulatory filings, authorised press releases, and coordinated communications by the Enterprise and its appointed advisers.


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