News
Phillips, Agbaje, Others to Lead Discussion On RoIs in Uncertain Times

Foluso Phillips, chief executive officer, Philips Consulting Group Nigeria, Segun Agbaje, chief executive officer of GTbank Nigeria Plc are expected to lead a roundtable on change, experience extraordinary growth and increase return on investments (RoIS) in uncertain times.
Today, the Change Leadership Organisation, focused on empowering organisations and leaders across Africa to lead transformational change, announced its exclusive event, The Change Leadership Executive Roundtable, bringing together fifty notable African leaders from the 6th to 8th of July, 2016 at the Ritz Carlton Hotel in Toronto, Canada.
The event will feature the number one global leadership expert, John C. Maxwell, Innovation Expert – Jeremy Gutsche., Honorable Abike Dabiri-Erewa – Senior Special Assistant to the President of the Federal Republic of Nigeria on Foreign Affairs and the Diaspora, Arole Oodua Adeyeye Ogunwusi – Ooni of Ife and Chairman of Gran Imperio Group Nigeria, and Samuel Oboh – 2015 President of the Royal Architectural Institute of Canada (RAIC) who is the first Canadian of African descent to occupy this position in the 108-year history of the Institute, and President of INSPIRARQX, speaking with business leaders in Nigeria and the diaspora who are leading change and innovation and public figures in Africa and Canada.
The event provides the perfect platform to collaborate with other forerunners on how to effectively lead change in periods of economic uncertainties to experience extraordinary growth and drive higher return on investments (ROIs), as well as creating a collective agenda to move the Nigerian economy forward.
The 42 percent decline in the price of Brent crude has sent Nigeria’s economy into a creep with state revenues decimated and the financial markets reeling. As the continent’s biggest economy, the adverse effects on the economies of other countries have been inevitable.
With the world’s current economic uncertainties, how can African business leaders position their organisations to make record-breaking profits?
How did organisations such as Apple with its first iPhone succeed at the height of global recession? How have Microsoft and CNN achieved success despite starting during recessions?
The Change Leadership Organisation believes that for successful change to occur, it takes strong leadership and commitment.
The Executive Roundtable aims to meet these needs and provide a forum to help leaders become effective in driving results that count, increase returns on investment, and create a collective agenda to move Nigeria’s economy forward.
Yvonne Akpoveta, host, Change Leadership, described the ‘The Change Leadership’ as a series of events dedicated to driving positive change in Africa and beyond by empowering leaders and organisations to lead effective and transformational change.
“We believe that everything rises and falls on leadership, and for successful change to take place, it starts with strong leadership”, she said.
‘The Change Leadership’ series is presented by OliveBlue Incorporated, a global Change Management Consultancy and a team of business experts who are skilled in crafting memorable learning and brand experiences.
OliveBlue’s experience and portfolio includes companies such as JP Morgan Chase, British Telecom, Royal Bank of Canada, and GM.
News
Aliko Dangote Signs out @ Dangote Sugar Refinery as Chairman

In a major leadership transition, Dangote Sugar Refinery Plc (DSR) has announced the retirement of Aliko Dangote, its founder and chairman, from the Board, effective June 16, 2025.

Aliko Dangote
The announcement was made in a regulatory filing with the Nigerian Exchange Ltd on June 11, highlighting the company’s commitment to sound corporate governance and structured succession planning.
In a statement signed by Mrs. Temitope Hassan (FCIS), company secretary and legal adviser, the Board praised Dangote’s extraordinary leadership and lasting contributions to the company.
“Alhaji Aliko Dangote is one of the founding Directors of the Company and has served with exceptional leadership, integrity, and vision since 2005,” the statement read.
“Under his stewardship, Dangote Sugar Refinery transformed significantly, navigated industry changes, consistently delivered value to shareholders, and upheld strong governance principles.”
Widely regarded as Africa’s most influential industrialist, Dangote led DSR’s evolution into a dominant player in Nigeria’s sugar value chain.
His strategic initiatives, particularly the Backward Integration Projects (BIPs) across Adamawa, Taraba, and Nasarawa States, advanced the company’s self-sufficiency goals and aligned with the federal government’s national sugar master plan.
While stepping down from DSR, Dangote will continue as President of Dangote Industries Limited.
His legacy at DSR is marked by industrial innovation, strategic foresight, and sustained operational excellence.
To ensure a seamless transition, the Board has appointed Mr. Arnold Ekpe, a seasoned independent non-executive director, as the new chairman, effective June 16.
Ekpe is renowned for his tenure as Group CEO of Ecobank Transnational Incorporated, where he championed pan-African financial inclusion and institutional growth.
His extensive experience in banking and corporate governance is expected to strengthen DSR’s next phase of development.
The leadership change signals continuity of vision, with DSR reaffirming its focus on operational efficiency and long-term value creation in a dynamic market.
For shareholders and industry observers, Dangote’s exit from the Board marks the end of a transformational era—one defined by bold ambition and strategic execution—while opening a new chapter under Ekpe’s leadership.
News
Report Reveals New Malware Posing as an AI Assistant Steals User Data

Kaspersky Global Research & Analysis Team researchers have discovered a new malicious campaign which is distributing a Trojan through a fake DeepSeek-R1 Large Language Model (LLM) app for PCs.
The previously unknown malware is delivered via a phishing site pretending to be the official DeepSeek homepage that is promoted via Google Ads.
The goal of the attacks is to install BrowserVenom, a malware that configures web browsers on the victim’s device to channel web traffic through the attackers servers, thus allowing to collect user data – credentials and other sensitive information. Multiple infections have been detected in Brazil, Cuba, Mexico, India, Nepal, South Africa and Egypt.
DeepSeek-R1 is one of the most popular LLMs right now, and Kaspersky has previously reported attacks with malware mimicking it to attract victims. DeepSeek can also be run offline on PCs using tools like Ollama or LM Studio, and attackers used this in their campaign.
Users were directed to a phishing site mimicking the address of the original DeepSeek platform via Google Ads, with the link showing up in the ad when a user searched for “deepseek r1”.
Once the user reached the fake DeepSeek site, a check was performed to identify the victim’s operating system. If it was Windows, the user was presented with a button to download the tools for working with the LLM offline. Other operating systems were not targeted at the time of research.
After clicking on the button and passing the CAPTCHA test, a malicious installer file was downloaded and the user was presented with options to download and install Ollama or LM Studio.
If either option was chosen, along with legitimate Ollama or LM Studio installers, malware got installed in the system bypassing Windows Defender’s protection with a special algorithm.
This procedure also required administrator privileges for the user profile on Windows; if the user profile on Windows did not have these privileges, the infection would not take place.
After the malware was installed, it configured all web browsers in the system to forcefully use a proxy controlled by the attackers, enabling them to spy on sensitive browsing data and monitor the victim’s browsing activity.
Because of its enforcing nature and malicious intent, Kaspersky researchers have dubbed this malware BrowserVenom.
“While running large language models offline offers privacy benefits and reduces reliance on cloud services, it can also come with substantial risks if proper precautions aren’t taken.
Cybercriminals are increasingly exploiting the popularity of open-source AI tools by distributing malicious packages and fake installers that can covertly install keyloggers, cryptominers, or infostealers.
These fake tools compromise a user’s sensitive data and pose a threat, particularly when users have downloaded them from unverified sources,” comments Lisandro Ubiedo, Security Researcher with Kaspersky’s Global Research & Analysis Team.
News
Court Declares Bank’s Withholding of Retirement Benefits Unlawful

National Industrial Court in Lagos has ruled that a deposit money bank must pay over N162 million in outstanding retirement benefits to a group of its former employees.
The judgment, delivered by Justice R.H. Gwandu, criticized the bank’s attempt to withhold entitlements from staff employed through third-party arrangements.
The claimants, represented by Chief Mike Ozekhome, SAN, argued that the bank violated labor laws by refusing to honor their retirement benefits. They sought declarations that the bank’s actions were unlawful and requested immediate payment of their dues.
Justice Gwandu ruled in favor of the employees, stating that the use of third-party employment to evade obligations was unacceptable.
The court acknowledged their long service and dismissed the bank’s argument that they did not meet the required 15 years of uninterrupted service.
Notably, the court upheld the rights of the 10th claimant, who continued working with the bank after its merger with Manny Bank and another commercial institution.
This landmark ruling reinforces workers’ rights and establishes that organizations cannot use outsourcing arrangements to deny employees their legitimate benefits.
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