News
Foreign Firms Carting Away Nigeria’s Revenues

Nigeria’s foremost industrialist, Aliko Dangote was recently quoted as saying that “Nigeria is the best kept secret in the world.
Anybody who does not invest in Nigeria only has himself to blame, going forward. I do not really know of any place where you can make as much money as you make in Nigeria.”
Dangote’s assertion may explain the recent proliferation of foreign firms in Nigeria in every sector of the economy more than ever before. In a slow but steady manner, foreign firms have entrenched themselves into key facets of the Nigerian economy; from Aviation to Banking, to Construction, to Entertainment, and even Telecoms. Foreign companies are making a big onslaught in Nigeria’s lucrative market.
This is not a call to discrimination against foreign firms in Nigeria. At the moment, Nigeria seems to have been lulled into a widespread and deepening surrender. This is a “call to arms.” We must neither ban foreign firms nor impede them.
But, we must match them with the best. We must also recognize that, wherever possible and necessary, Nigerian firms must be given priority over foreigners. Non indigenous firms should not receive in Nigeria the concessions that Nigerians cannot receive elsewhere in the business world.
Let us take a compass through the Nigeria telecommunications industry. By the estimate of the International Telecommunication Union’s (ITU) Nigeria telecommunications industry remains the fastest growing in the world for more than five years. Little wonder it is still the investors’ preferred destination.
Foreign Invasion of Nigeria’s Telecoms Sector
Since the Nigerian Communication Commission (NCC) issued licenses to certain private operators in 2001, the Nigerian telecommunication sector has been dominated by private participants.
What is however observable is the dominance of the sector by Multinational Corporations (MNCs) among the private participants, with very few indigenous participants. There are currently 4 mobile operators in Nigeria- MTN from South Africa, Bharti Airtel from India, Etisalat from United Arab Emirates, and Globacom which is the only indigenous firm in this sector, alongside the newest entrant – Ntel.
According to the statistics released by the Nigerian Communication Commission (NCC), in the first quarter of 2016, the communication market is dominated by MTN with 38.70 percent of subscribers. It is followed by Globacom with 23.48 percent of the market; Airtel with 22.98 percent of the market; while Etisalat accounted for a total of 14.84 percent of the market.
The statistics simply reveals that Nigeria ownership only accounts for a paltry 23.48% of the Telecoms sector that contributed about 8.83 percent to GDP in Q1, 2016. The implication of this is that the billions of dollars made by these foreign firms from Nigeria and Nigerians are repatriated to their various local economies.
There is nothing absolutely wrong in reaping the rewards of one’s investments regardless of where the investment is domiciled; after all, Nigerians have multibillion Dollar investments littered across the globe. The bone of contention here is that the foreign firms are not playing on a level playing field with their indigenous counterparts. Non-Nigerians should not be given a head-start vis-à-vis Nigerians in the Nigerian economy, especially in those areas where Nigerians are more than able to make useful contributions. If Nigerians end up being discriminated against in Nigeria, it means we are effectively orphans in our own country.
Lessons From Other Climes
It is public knowledge how Chinese telecom equipment manufacturers were barred from operating in America under the guise of national security and data leakage. In reality however, the ban was a disguise to protect competing American companies like, Cisco, Lucent and the likes. The American government largely patronizes made in America products.
This is also applicable to China and European governments who only buy indigenous products. While international products are sold in China, there is a minimum local content requirements, which implies foreign companies must build factories there in order to trade.
Nigeria should learn from these countries. Where a local firm can perform just as well as the foreign ones, it should become a matter of policy for public interest to patronize local firms for big government jobs. The fixation on expatriate senior management staff by these big firms who repatriate our hard earned dollars to their countries is also worrisome.
For me, the underlining issue is the fact that the Nigerian government gives these foreign firms preferred treatment over local firms. The clamour for change must start from the top. Government and its agencies must learn to first engage leading Nigerian owned firms for executing national contracts in order to grow and encourage local content and save the economy.
If Nigerians do not buck up and take charge, the country might wake up sometime in the nearest future and discover that, out of indolence; lack of imagination and dearth of enterprise, we have surrendered the commanding heights of our economy to the hands of neo-colonial masters.
At a time the Federal government of Nigeria is clamoring for revenue generation and retention to fund the budget deficit, foreign firms are sucking the country dry and carting away billions of Dollars from Nigeria to their respective economies. Apart from the fact that this has increased the rate of capital flight in the country, it also renders the citizens, who are supposed to be the major beneficiaries of such investment impoverished and wholly despondent.
News
More than 50 Percent of Leaked Passwords End with a Number – Research Reveals

To mark the occasion of World Password Day, Kaspersky experts analysed 231 million unique passwords in major password leaks from 2023 to 2026, and uncovered several key patterns.

First, 68% of modern passwords can be cracked within a day. Second, it turned out that the vast majority of compromised passwords either begin or end with a digit – a common pattern that makes them potentially vulnerable to brute force attacks.
And third, users also favour positive and trending words; for example, over the past couple of years, use of the word “Skibidi” in analysed passwords surged 36 times, mirroring the rise of that Internet trend.
In recent years, secure passwords’ rules have become a widely discussed topic. More and more services now demand passwords that are at least 10 characters long, include an uppercase letter, and contain a number or a symbol.
Yet a comparative analysis of leaked passwords from the past few years shows that even following some of those rules does not guarantee resistance to brute‑force or AI‑driven attacks.
Kaspersky experts share practical advice on how to make passwords more complex and secure, and how not to repeat common mistakes.
Be creative with using symbols and numbers
Among the leaked passwords that contain just one symbol, the “@” sign tops the list, appearing in 10% of cases. The next most common symbol is a dot (.), found in 3% of passwords. Among all analysed passwords “@” takes second place in terms of prevalence, and in third place is “!”.
Numbers also follow similarly predictable patterns:
53% of examined passwords end with digits;
17% begin with digits;
Nearly 12% include a numeric sequence that resembles a date (from 1950 to 2030);
3% of leaked passwords include keyboard sequencies like “qwerty” or “ytrewq”, but most of them are digital sequencies like “1234”.
Alexey Antonov, Data Science Team Lead at Kaspersky, notes that commonly used symbols, numbers, or dates – especially when placed in obvious positions (such as at the beginning or end of a password) – significantly simplify brute force attacks for cybercriminals. That’s why it’s highly recommended to give preference to less popular characters, and avoid numeric or keyboard sequences.
“Bruteforce works by systematically trying every possible character combination until the correct password is found. When attackers already know which characters users tend to favour, the time required to crack a password drops dramatically. To avoid the temptation of choosing predictable symbols, entrust password creation to dedicated generators that produce random letters, numbers, and symbols with equal probability”, says Alexey Antonov.
Between… Eden and hell: Try to avoid using words in a password
The research shows that emotional and trending words frequently become the basis for a password. For example, from 2023 to 2026 the use of the word “Skibidi” in passwords increased 36 times – mirroring the rapid rise of that Internet trend.
Kaspersky experts have also conducted analysis of the occurrence of positive and negative words in passwords, and it turned out that there are more positive ones. Among those regularly appearing are positive words like “love”, “magic”, “friend”, “team”, “angel” and “star”, “eden”. Interestingly, positive words are much more common than negative ones. However, words like “hell”, “devil”, “nightmare” and “scar” also occur.
“Using a single‑word password, even with a trailing number or a special character, is a weak choice. The pattern is too predictable, making it easy for attackers to guess. Instead, craft a passphrase that strings together several unrelated words, each supplemented with internal numbers and symbols, and sprinkle in a few intentional misspellings.
The longer and more random and unpredictable the password is, the harder it is to crack. As an additional way to protect yourself, enable two-factor authentication (2FA) wherever possible,” recommends Alexey Antonov.
Is password length important?
It’s well known that longer passwords are harder to crack, and the analysis of leaked passwords confirms this principle. However, with the rise of AI driven tools, length alone no longer guarantees security: even lengthy passwords can be compromised if they follow predictable patterns.
The research shows that short passwords of up to eight characters that appeared in the leak are typically cracked by brute force attacks in under a day. However, thanks to AI-powered smart algorithms, more than 20% of 15-character passwords can be broken in less than a minute.
What’s more 60.2% of all analysed passwords – regardless of length – can be cracked in about an hour; 68.2% – in a day.
In the examples provided, the calculations assume a single RTX 5090 GPU and the MD5 algorithm. In real‑world scenarios, attackers can rent multiple GPUs – ten, a hundred, or even more. Under such conditions, the cracking rate would increase potentially by several orders of magnitude.
In modern terms, truly secure passwords not only meet the gold standard of 16+ characters, but also consist of random, non-repeating letters, numbers, and symbols, and are unique for each account. To help users create such passwords, Kaspersky has added a password generation feature to the Kaspersky Password Generator website. Now users can not only check their passwords for leaks, but also generate secure passwords for free.
For easy and secure password management, auto-fill, and cross-device synchronisation consider using a password manager in which all credentials are stored in a secure vault and protected by a single master password. This eliminates the need to remember hundreds of passwords while keeping them safe from breaches.
What’s more, not only passwords, but also passkeys can be created and stored directly in Kaspersky Password Manager, which allows not only to sign in to supported services with a single tap, but also to access passkeys on all devices owing to secure synchronisation.
News
Cybervergent Expands to Three New Markets

Cybervergent has launched version 3.0 of its artificial intelligence (AI)-native posture management platform and expanded operations into Kenya, Ghana, and SA.

The move, according to the company, introduces automated risk verification for enterprises and aims to position Africa as a force in digital governance technology.
It goes on to say the latest platform upgrade introduces continuous posture management, replacing traditional point-in-time governance, risk, and compliance reporting with real-time verification systems.
An AI engine independently verifies 99.9% of audit and monitoring findings before they appear on enterprise dashboards, according to Cybervergent.
It says risk management, compliance, audit, and data security operations are integrated into a unified system built for cloud and on-premise environments.
According to Cybervergent, the platform maps more than 4 500 controls across frameworks, including the Nigeria Data Protection Act (NDPA), International Organisation for Standardisation (ISO) 27001, and System and Organisation Controls (SOC) 2.
Cybervergent says the rollout of its first South African customer validates the platform’s readiness for highly regulated enterprise markets and strengthens its expansion strategy across Africa’s leading technology and financial hubs.
The company is also adopting a channel-first deployment model, working with local partners and system integrators in Lagos, Accra and Johannesburg to scale verified security infrastructure for enterprises navigating increasingly complex regulatory demands.
“We built verification into the architecture,” said Ayomide Daniels, co-founder and chief scientist at Cybervergent. “If a finding is not traceable back to source documentation, it does not reach the dashboard.”
Cybervergent rebranded from Infoprivacy in late 2023 to reflect its shift towards AI-automated cybersecurity.
The start-up previously focused on data privacy compliance in the West African market before pivoting to its current integrated posture management model.
News
FG Bans Honorary Degree Holders from Using ‘Dr’ Title, Warns of Academic Fraud

Federal Government has directed recipients of honorary doctorate degrees to stop using the title “Dr.” before their names, as part of efforts to protect the integrity of academic qualifications and curb the misuse of honorary awards.

Minister of Education, Tunji Alausa
Minister of Education, Tunji Alausa, announced the directive after the approval of the new policy by the Federal Executive Council (FEC).
Alausa said the measure was necessary to address the growing abuse, commercialisation and politicisation of honorary degrees in some tertiary institutions across the country.
He explained that honorary doctorates are symbolic recognitions of outstanding contributions to society and do not equate to earned academic qualifications obtained through rigorous study, research and examination.
“Recipients of honorary doctorate degrees are not entitled to use the title ‘Dr.’ as a prefix to their names in official, professional or academic engagements,” he said.
According to the minister, awardees may instead indicate the honorary distinction after their names using formats such as D.Litt (Honoris Causa), LL.D (Honoris Causa) or other approved honorary designations.
Under the revised policy, only universities with active doctoral programmes will be permitted to confer honorary doctorate awards.
The government also restricted recognised honorary awards to four categories: Doctor of Laws (LL.D), Doctor of Letters (D.Litt), Doctor of Science (D.Sc), and Doctor of Humanities (D.Arts).
In addition, all honorary degree certificates must clearly carry inscriptions such as “Honorary” or “Honoris Causa” to distinguish them from earned academic degrees.
The minister warned universities against indiscriminate conferment of honorary degrees, noting that institutions found violating the directive would face sanctions from the National Universities Commission and the Federal Ministry of Education.
He said the policy was part of broader reforms aimed at restoring credibility to Nigeria’s higher education system and ensuring academic titles are not misrepresented for personal, political or financial gains.
Observers say the development could reshape the long-standing culture where public office holders, business executives and celebrities often adopt the “Dr.” title after receiving honorary awards.
E-Financial2 days agoFCMB Opens Applications for Zero-Interest Loans of Up to ₦10m for Women Entrepreneurs
E-Business3 days agoTrusted Relationship and Exploits in Public-facing Applications Strengthen Position as the Main Attack Vectors
E-Business2 days agoKaspersky Identifies Ongoing Supply Chain Attack on Official Daemon Tools Website Distributing Backdoor Malware
E-Business3 days agoKled AI, US Data Firm Blocks Nigeria over High ‘Fraudulent Activity’
Telecom2 days agoReps Claim NCC’s Weak Regulatory Oversight Responsible for Poor Telecom Services
Telecom2 days agoVitel Wireless Partners Fintechs to Expand Access to Services
Telecom2 days agoGSMA Africa Policy Group Chair Calls for Urgent Tax Reforms to Accelerate Digital Inclusion
E-Financial3 days agoUBA, Redtech, MoMo PSB Expand Merchant Payment Access Across Nigeria













