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Sidmach Identifies Reasons Banking Data Are Not All Residing in the Cloud

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Have you ever wondered how banks get to keep massive amount of money, treasures, document for different individuals without a flinch of mix up? How they get to be all that reliable with keeping and tallying your information with your treasures?

In its blog post, Sidmach Technologies Nigeria Limited identified why banking data are not really residing in the cloud.

Well, gone are the days when people rely on the piggy bank in their granma’s room, people have resolved to using banks. It comes with benefits, so who wouldn’t like life to be a better place. The world is evolving, the population is growing yet the banking sector keeps thriving in spite of the large commodities to handle.

Technology Has Made Life Easy
The introduction of the cloud computing system without a doubt is a major milestone transformation in this technology era.

Faced with the uproar challenge of costly hardware and software technology, more banks have delved into this ideology and kept lasting smiles on the faces of their customers. The security obtained from the cloud service is top notch.

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Matchless to Nothing from The Past
The advantages of these cloud services range from; Improved work efficiency; Business continuity; Cooked food (i.e reduced costs of software acquisition); Business process improvement; Used-based billing; Sharing compatibilities, etc.

Learn What the Cloud Is All About In Simple Terms
The cloud solution is a manmade invention and it is not 100% immune to hacking. Banks are very much aware of this flaw and they wouldn’t take that chance of losing data in any way. Banks have traditionally kept absolute charge and control over their information technology in the past and they would not cease from doing that.

They have been in total support of large in-house teams before the emergence of cloud solutions and if they are going to incorporate this solution at all, into their fast-paced business, they are very much aware that it is much safer to use the private cloud than the public cloud.

Apart from the better security gotten from the private cloud. It is much safer than we think.  In the midst, of all these safety, ‘banks are expected to enter the cloud computing arena cautiously with no single cloud services delivery model being a silver bullet for best meeting their demanding business needs’.

The restrictions of the cloud service cannot be overlooked as no one wants to be a loser in a game. These restrictions can be traced to: Access; Confidence in providers; Uncertainties in cloud service integration with existing infrastructure; Support; Movement of banks from one cloud service provider to another, hacking, unwholly security reliability, etc., Hacking, unwholly security reliability, etc., Unwholly security reliability

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These and many more are the fears of the banking industries so they have resolved to backing up their information technology and business as a whole with having their own inbuilt privately own data centres.

 

 

 
 

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Kaspersky Reveals a New Malicious Framework Targeting Cryptocurrency Users with the Use of OkoSpyware

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At its recent annual Cyber Security Weekend for the Middle East, Turkiye and Africa (META) region, Kaspersky Global Research and Analysis Team (GReAT) shared insights about the new OkoBot campaign targeting cryptocurrency users.

The new sophisticated framework employs TookPS to exfiltrate seed phrases and uses a new OkoSpyware module to monitor Chromium-based browsers and deploy various malware strains, including the Rilide stealer.

It has already targeted hundreds of victims across over 25 countries, with the highest number of affected end users recorded in Brazil, Vietnam, Canada, Mexico and Turkiye. According to Kaspersky experts, the threat remains active and primarily poses a risk to cryptocurrency users.

In January 2026, experts from the Kaspersky Global Research and Analysis Team (GReAT)  identified multiple attacks involving a previously unknown malware capable of capturing the contents of cryptocurrency wallet windows. Dubbed Okobot, the new sophisticated malware framework comprises more than 20 malicious payloads and implants designed to perform a wide range of functions, including collecting local files, executing remote commands, downloading arbitrary browser extensions, stealing cryptocurrency wallets, harvesting seed phrases and credentials, recording video and carrying out other malicious activities.

One of the new implants used in the campaign is a loader that modifies browser memory to load and hide malicious extensions. OkoBot also includes a new OkoSpyware module, which captures keystrokes and the video stream of a target application’s window.

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Currently available information does not allow the campaign to be attributed to any known crimeware actor with high confidence. However, the techniques and infostealer involved are widely used by Russian-speaking threat actors, and technical analysis has also revealed code artifacts in Russian.

The initial infection typically occurs through two main vectors: ClickFix attacks, in which threat actors use social engineering to trick users into running malicious code, and malware distributed via GitHub under the guise of legitimate software. During the investigation, researchers identified one such case involving a fake installer for SQL Server Management Studio (SSMS), a widely used Microsoft database management tool.

The malicious framework includes SeedHunter, a malware component that monitors active system processes and injects an implant into Trezor Suite, Ledger Wallet, and Ledger Live, – official applications used to manage cryptocurrency assets. When it detects a connected Trezor or Ledger hardware wallet, it triggers the hooked functions to display a hard-coded phishing page aimed at stealing the user’s seed phrase, using a distinct layout for each wallet type.

“The OkoBot campaign has been active for more than a year and remained ongoing as of July 2026. The observed infection vectors strongly suggest that developers are among its primary targets. Of particular concern is the malware’s continued evolution, which indicates that the framework is being actively maintained. As distribution efforts persist, the campaign has the potential to reach more users and expand into additional countries in the near term,” says Dmitry Galov, Head of the Russia and CIS unit at Kaspersky Global Research and Analysis Team.

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CMS T&M Launches TMO Rides to Enable a Faster & Cashless Transport Experience for CMS – Ajah Passengers

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CMS Transport Management (CMS T&M), one of Lagos’ longest-standing and most trusted transport operators, officially launches a new service known as TMO Rides.

CMS T&M Launches TMO Rides to Enable a Faster & Cashless Transport Experience for CMS – Ajah Passengers

This new initiative is designed to simplify the daily commute by introducing seamless cashless payments for passengers across its bus network.

For over 58 years, CMS T&M has played a significant role in moving millions of passengers daily along the CMS – Ajah routes through its fleet of high-capacity buses popularly.

The launch of TMO Rides marks another milestone in the company’s journey toward building a smarter, more efficient transport experience.

Through the initiative, passengers will have access to TMO Cards for a seamless transport. This is more exciting because TMO launches with 2 consecutive apps.

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These apps help to eliminate the need for cash transactions while reducing boarding delays and create a more convenient experience for passengers.

Beyond introducing digital fare payments, the initiative reflects CMS T&M’s broader commitment to modernize public transportation through innovation, operational efficiency and improved customer experience.

CMS T&M operates within Nigeria’s regulated transport ecosystem as a registered member of the BRT Association of Nigeria (BRTAN), where it is also an equity stakeholder, reinforcing its commitment to a cooperative-driven transport system.

The company is equally registered with the Lagos Metropolitan Area Transport Authority (LAMATA), the agency responsible for planning, regulating and franchising public transportation in Lagos State, and is also a member of the National Union of Road Transport Workers (NURTW) that promotes safe and organized road transport operations.

Speaking on the launch, Andy, Managing Director of CMS T&M, said: “For nearly six decades, our focus has remained the same, which is moving people safely and efficiently.

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“As the transportation needs of Lagos continue to evolve, we must evolve with them. TMOx Rider is about making everyday commuting easier by giving our passengers a faster, more convenient way to pay while improving the overall travel experience.

“This launch represents another important step in our commitment to building a smarter, more accessible transport system for everyone.”

The launch of TMO Rides forms part of CMS T&M’s long-term vision of embracing technology to improve public transportation without compromising the trust and consistency the passengers have relied on for generations.

The cashless payment infrastructure empowering TMO Rides is enabled by Treepz, whose mobility technology supports digital fare collection and operational efficiency.

By providing the technology behind the initiative, Treepz is helping CMS T&M expand access to modern, seamless transportation while advancing a shared vision of making everyday mobility more connected, convenient and accessible across Lagos.

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Visit our website: https://www.cmstaxiandmotor.com/

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Nigeria Tightens Data Privacy Compliance as FG Issues Directive to MDAs

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Federal Government has directed all Ministries, Departments and Agencies (MDAs) to fully comply with the provisions of the Nigeria Data Protection Act (NDP Act) 2023, as part of efforts to strengthen responsible data governance and build public trust in data-driven public administration.

 

The directive is contained in Circular No. 59805/S.I/74, dated July 27, 2026, and signed by the Secretary to the Government of the Federation (SGF), Senator George Akume.

According to the circular, the directive follows President Bola Tinubu’s instruction that all government institutions must ensure the rigorous collection and secure management of personal data in accordance with the Nigeria Data Protection Act.

The President was quoted as saying: “Data is the new oil: its value increases the more it is refined and responsibly shared. I therefore direct all Ministries, Extra-Ministerial Departments and Agencies to capture information rigorously and safeguard it under the Nigeria Data Protection Act, 2023.”

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The circular mandates MDAs to ensure full compliance with the NDP Act, its regulations, guidelines and directives issued by the Nigeria Data Protection Commission (NDPC) regarding the processing of personal data.

To achieve this, every MDA is required to appoint a suitably qualified Data Protection Officer (DPO) responsible for overseeing compliance and advising management on lawful data processing practices.

The agencies are also required to register the names and contact details of their designated DPOs with the NDPC and engage licensed Data Protection Compliance Organisations (DPCOs), where necessary, to support compliance and conduct statutory data protection audits.

In addition, the Federal Government directed MDAs to make adequate budgetary provisions for data protection compliance activities, including staff capacity building, awareness programmes, deployment of technical safeguards and periodic compliance audits.

The circular further requires all MDAs to submit mandatory Data Protection Compliance Audit Returns and other statutory reports to the NDPC within the timelines stipulated by law.

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It also places responsibility for compliance squarely on the leadership of government institutions.

According to the circular, Permanent Secretaries, Accounting Officers and Chief Executive Officers of all MDAs will be held personally accountable for ensuring full compliance with the directive and the provisions of the Nigeria Data Protection Act.

Reacting to the development, the National Commissioner and Chief Executive Officer of the Nigeria Data Protection Commission, Dr. Vincent Olatunji, commended the administration of President Tinubu for demonstrating strong legal and political commitment to protecting the privacy and fundamental rights of data subjects in Nigeria.

Olatunji said the Commission remained committed to supporting government institutions in implementing effective data governance frameworks, noting that data accountability is critical to achieving the administration’s eight Presidential Priorities.

He disclosed that the NDPC had established a regulatory clinic to provide technical guidance and support to MDAs in meeting their compliance obligations.

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According to him, the initiative is part of ongoing regulatory measures aimed at strengthening Nigeria’s data governance ecosystem as the country positions itself to harness opportunities presented by the Fourth Industrial Revolution.

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