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Nigeria loses N755Bn per Month to Weights

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Nigeria loses N755 billion every month due to inaccurate metering and measurements, according to Mr.Olusegun Aganga, minister of Industry, Trade and Investment.

Aganga disclosed this at the launching of the Legal Metrology web-portal of the Weights and Measures Department of the ministry in Abuja.

The minister said the amount is the aggregate loss incurred by both government and corporate organisations on a monthly basis due to imprecision of weights and measures in the country.

Aganga said that the effective implementation of legal metrology would ensure proper inspection, verification and certification of meters and billing systems for electricity, water, hydrocarbon, and telecommunications. He added that it would also result in the establishment of credible and reliable database for oil and gas exports/imports data for proper reconciliation of revenues from oil and gas as required by the Pre-shipment Inspection Act.

“The implementation will eliminate the loss of N755.72 billion due to inaccurate measurements at billing points every month by Nigerians. It is widely accepted that the status of a country’s measurement system is a good indicator of its development level. The inauguration of this portal this morning is therefore another major step towards the actualisation of the transformation agenda of President Goodluck Jonathan.

“The importance of legal metrology in developing nations cannot be over-emphasized, especially as it enhances confidence in domestic trade, protects consumers, strengthens confidence in imported goods and products, and facilitates acceptance of exported goods and products globally.

“In realisation of this, therefore, the federal government came up with the initiative to launch the implementation of the program in Nigeria in line with the provisions of the enabling laws, which are: The Federal Republic of Nigeria Constitution, exclusive list item 65 of 1999; the Weights and Measures Act Cap W3 LFN 2004 and the Pre-shipment Inspection of Export Act Cap. P25 LFN 2004. There are other subsidiary legislations in force.

“And in line with international best practice, the weights and measures department of the Ministry of Industry, Trade and Investment has been repositioned to effectively supervise and monitor weighing and measuring devices used in trade transactions in all sectors of the Nigerian economy,” he stated.

Alhaji Bashir Zoru, , Director, Weights and Measures in the ministry,  stressed that Legal Metrology is critical for economic advancement. “This is because it instills confidence in the domestic trade, protects the consumers, as well as confers integrity to imported goods and products, and facilitates acceptance of exported goods and products globally.

Consumers, Traders, Industries, Government regulators and Collectors of taxes and duties make decisions on a daily basis based on measurement, and these affect economic and personal well-being of the society. From a consumer’s perspective, a kilogram of rice must be a kilogram and no less, a motorist needs to trust the volume delivered by a petrol pump, a mobile telephone user must be assured in the knowledge that one minute of airtime must be one minute and no less”

Zoru said the department is recruiting over 200 young Inspectors and the first batch of private companies who will work as Independent Service Providers (ISPs) – providing Calibration, Testing and Verification services to cover the millions of Weighing and Measuring devices used.


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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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