News
Path Solutions Receives Record-breaking Number of Awards @ IFN Service Providers Poll

Several honors and awards were recently bestowed on Path Solutions including the latest Best Islamic Technology Provider 2021 award from Islamic Finance news (IFN).
For the first time in history, an Islamic banking software provider receives the most awards ever for its contribution to the growth of the Islamic financial services industry.
The highly acclaimed company, Path Solutions received the largest number of votes ever this year, culminating in being awarded the Best Islamic Technology Provider 2021, which further cements this achievement.
According to Andrew Morgan, Managing Director & Publisher, REDmoney Group, Path Solutions was crowned the winner for the 15th year in a remarkable scoring streak. The firm is an unquestioned leader in the technology space, and as the industry slowly recovers post-pandemic, Path Solutions toughed it out to hang on to its title even in the midst of adversity. “Our heartiest congratulations go to the company and its amazing team”, he said.
Commenting on the award, Mohammed Kateeb, Path Solutions’ Group Chairman & CEO stated, “We are extremely proud to have once again won the industry vote in the annual IFN’s Poll as Best Islamic Technology Provider of 2021.
“This recognition only compels us to maintain our momentum and continue to shape the future of financial services ecosystem and empower the transformation of the industry by providing cutting-edge, forward-thinking and innovative software”.
IFN Service Providers Poll 2021 will be honoring nine exceptional service providers for their invaluable contributions to the global Islamic finance industry at the prestigious Dubai Awards Ceremony on the 31st of October.
It serves to note that IFN is a subsidiary of REDmoney Group, which was established in 2004 to provide media coverage in global markets including emerging Islamic economies, with unmatched insight into global Sharia-compliant markets. It is the longest running and the only fully independent Awards disseminator.
The IFN Service Providers Poll is unique in its recognition of the vital role that service providers play in smoothing the path for Islamic finance and setting the benchmark for its ongoing quality, consistency and creativity by supporting the underlying operations that are so crucial to its success.
News
EFCC Recovers Funds, Arrests Suspects in N1.3 Trillion CBEX Crypto Fraud

Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission has revealed that the agency has recovered some money from the digital investment platform Crypto Bridge Exchange trading platform that crashed last month leaving many investors weeping and counting their losses.
In an interview with TVC on Sunday, May 25, Olukoyede also disclosed that the EFCC has made arrests in connection with the CBEX fraud. He added that the EFCC has made significant progress in its investigation into the crypto scheme that scammed many Nigerians.
“We have gone far with CBEX. We have been able to recover a reasonable amount of money”he said
Olukoyede explained further that although the stolen money was in cryptocurrency, the EFCC has managed to trace and recover part of it. He however mentioned that converting the funds back to dollars in cash was not easy because it required going through similar crypto processes.
“Even though in the crypto wallet, the same way the money was taken from them. There is no way you will get them in dollars. There is no way you get the dollars in cash without necessarily going through the same process.”he said
The EFCC boss added that some suspects have already been arrested, noting that the agency is still pursuing others who are on the run.
“We have gone far. We have made a reasonable arrest. We are not going to give out much because we don’t want the process to be disrupted. We are still after quite a number of people we have declared wanted,” he said.
He, however, said the investigation has been challenging because the fraudsters used “non-custodial wallets,” which means there was no identity attached to the accounts, making it harder to trace the criminals.
“We are still investigating a lot of wallets and the wallets they created are called noncustodian wallets; in other words, no KYC. So, you can’t trace it to anybody.
So, from the noncustodial wallet, they moved it to some wallets in Europe, Eastern Europe, particularly Cambodia and from there, they dispersed the money. We have been able to block some of these wallets where money has not been dispersed.
That is to the extent that we have gone. I even learnt that there are still some of these perpetrators and Nigerians are still falling victim. I believe people should learn from this” he said.
In April, CBEX collapsed, leaving investors with reported losses of over N1.3 trillion.
The platform became inaccessible after users faced repeated withdrawal issues, which were soon followed by the sudden disappearance of their account balances.
The incident, however, triggered widespread reactions, especially on social media, where users have voiced their anger, concerns, and disappointment.
Despite this, CBEX resumed operations, announcing fresh withdrawal options in a move to restore investor confidence.
News
Toll Collection on Lagos-Calabar Highway Begins December

Senator David Umahi, the Minister of Works, has announced that a section of the Lagos-Calabar Coastal Highway will be tolled starting in December.
Umahi disclosed this during an interview for a forthcoming State House documentary marking the second anniversary of President Bola Tinubu’s administration.
He said: “By December, we will toll Section 1 of the Lagos-Calabar coastal highway. We project a 10-year return on investment.
“The road has solar-powered lighting and CCTV infrastructure, and offers carbon credit advantages.
“It is more than a road; it is an economic corridor and a catalyst for regional growth.”
According to the minister, 30 kilometres of Section 1 have already been completed, with an additional 10 kilometres in Section 2 nearing delivery. Both segments feature six-lane concrete-paved carriageways, designed to meet modern standards for safety and durability.
Umahi further revealed that construction had commenced on Sections 3 and 3B of the highway, spanning a total of 65 kilometres, covering 38 kilometres in Cross River State and 27 kilometres in Akwa Ibom.
He described the positive response from local communities as a clear indication of the project’s wide-reaching socioeconomic benefits.
“Just days ago, we flagged off Sections 3 and 3B—65 kilometres in total, covering 38 kilometres in Cross River State and 27 kilometres in Akwa Ibom. The host communities’ excitement speaks to these projects’ transformative impact,” he said.
Umahi also highlighted the administration’s renewed focus on the Sokoto-Badagry superhighway, which he noted was part of a broader vision dating back to colonial-era trade plans.
“The Trans-Saharan trade route dates back to colonial-era planning. President Tinubu is now bringing these long-abandoned visions to life,” the minister explained.
News
Kaspersky Uncovers Dero Crypto Miner Spreading via Exposed Container Environments

Kaspersky Security Services experts have identified a sophisticated cyberattack campaign targeting containerized environments to deploy a miner for the Dero cryptocurrency.
The attackers abuse exposed Docker APIs — parts of Docker, an open-source container development platform. In 2025, there are a significant number of Docker API default ports that are insecurely published, accounting for almost 500 occurrences worldwide on average each month.
In the discovered campaign, cybercriminals inject two types of malwares into the compromised systems: one is the miner itself and the other is a propagation malware that can spread the campaign to other insecure container networks.
Kaspersky experts discovered this malicious campaign as part of a compromise assessment project. According to expert estimates, any organisation that operates containerized infrastructure — while exposing Docker APIs without robust security controls — can be a potential target. These may include technology companies, software development firms, hosting providers, cloud service providers and more enterprises.
According to Shodan, in 2025, there are 485 published Docker API default ports¹ worldwide each month on average. This figure illustrates the campaign’s potential attack surface by tallying the “entry points” — or insecurely exposed ports that attackers might target.
Once attackers identify an insecurely published Docker API, they either compromise existing containers or create new malicious ones based on a legitimate standard Ubuntu image. They then inject two malware types into the compromised containers: “nginx” and “cloud”.
The latter is a Dero cryptocurrency miner, while “nginx” is a malicious software that maintains persistence, ensures execution of the miner and scans for other exposed environments. This malware allows attackers to operate without traditional Command-and-Control (C2) servers; instead, each infected container independently scans the Internet and can spread the miner to new targets.
“The campaign has the potential for exponential growth of infections, with each compromised container acting as a new source of attack, if security measures are not immediately put in place in the potentially targeted networks,” explains Amged Wageh, an incident response and a compromise assessment expert at Kaspersky Security Services.
“Сontainers are foundational to software development, deployment, and scalability. Their widespread use across cloud-native environments, DevOps, and microservices architectures makes them an attractive target for cyber attackers. This growing reliance demands organisations adopt a 360-degree approach to security — combining robust security solutions with proactive threat hunting and regular compromise assessments”.
The attackers embedded the names “nginx” and “cloud” directly in the binary — an inflexible executable file composed of instructions and data for the processor, not for humans. This is a classic masquerading tactic that lets the payload pose as a legitimate tool, trying to deceive both analysts and automated defenses.
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