E-Business
Yuguda, SEC DG Explains How Credit Rating Agencies Influence Investment Decisions

Lamido Yuguda , The Director General Securities and Exchange Commission, SEC, has said credit rating agencies, CRAs, play an important role in infrastructural development by providing independent assessments of the creditworthiness of subnational governments and other borrowers; information, which are utilised by investors to make informed investment decisions on optimal capital allocation.
Yuguda, who stated this in his goodwill message at the 2023 edition of DataPro Annual International Rating Webinar with the theme, Role of Sub-nationals & Credit Rating Agencies in Infrastructure Development; held in Lagos, added, “The synergy between the subnational governments and credit rating agencies will potentially play a major role in promoting sustainable infrastructural developments, create a favourable investment climate and advance the country’s quest for rapid transformation.”
According to the SEC DG, “In the past few years, there were some concerns on the roles of rating agencies in the global financial system. For example, rating agencies were challenged with respect to their roles in the 2008 financial crisis. Some critics had argued that rating agencies were too lenient in their ratings of subprime mortgage backed securities, which contributed to the crisis.
“The Commission is not unaware of these concerns, and is committed at ensuring that registered rating agencies operate in a fair and transparent manner. We have taken a number of steps to protect investors and promote confidence in the debt capital market by strengthening our oversight function on rating agencies through Issuance of new regulations and amending existing ones to improve the quality and transparency of the entire credit ratings.
He explained, “Other notable reforms in the debt capital market introduced by SEC include developing rules on book building, shelf registration, green, social, and sustainability bonds, checklist templates to guide market operators for fixed income transactions, reviewing cost of registration fees for fixed income and collaboration with the Association of Issuing Houses in Nigeria (AIHN) to streamline the issuance process.
“These initiatives have enhanced the average issuance period and improved the price discovery process for the debt issues. As a result, the value and volume of debt issuances by sub-national and corporates have tremendously increased over the years. For instance, the value of state bond issued and registered by the SEC from 1978 to 2022 rose from N20million to N1.13trillion respectively.
Keynote Speaker, Mr. Kehinde O. Ogundimu, CEO, Nigeria Mortgage Refinance Company Plc, said, “The development of infrastructure in cities and regions across the world is critical to economic growth and social well-being. Consequently, securing the funding needed to support infrastructure development is a major issue for governments and policymakers around the world.
Ogundimu asserted, “The world spends more than $2.5 trillion a year on infrastructure, an amount significantly lower than $3.7 trillion a year that will be needed through 2035 just to keep pace with projected GDP growth.
“Successful infrastructure delivery demands close alignment and collaboration between a wide range of participants, each with its own agenda and interest. This means that no single player acting alone can effect real change in infrastructure development.
He continued, “Mobilising private funding for infrastructure projects is crucial to bridge the infrastructure gap across the globe. Consequently, we need improved transparency in the infrastructure project generation process, higher certainty concerning the framework conditions for project execution and reduced risk for the operation phase.
“A long-term infrastructure pipeline and better, broader, and more independent cost benefit analysis are the major levers to pull to accomplish this goal.
“Accordingly, experts have recommended the following: Alignment of infrastructure funding and capital market development through long-term bond market development, superannuation, and pension fund preferences, and Enhancing investment attractiveness through higher asset utilization: For this, price signals should guide supply and demand for infrastructure; full cost recovery should improve the attractiveness of private investment; and new technologies can enhance asset utilisation.
“The economic benefits associated with infrastructure investment can be powerful and sustainable. Increased infrastructure investment can bring a wide range of long-lasting and mutually reinforcing benefits.
In the short term, spending on infrastructure projects can create jobs and increase real GDP growth, while the ongoing maintenance and repair activities that are necessary to support infrastructure systems can create permanent and well-paying jobs for the middle-class.
Delivering his welcome address, Mr. Abimbola Adeseyoju, Founder, DataPro Limited, said the goal of the webinar is to provide an annual platform for all stakeholders within the Capital Market and others in affiliated sectors of the economy to brainstorm on how the African continent and by extension the West African countries and Nigeria can utilize the value proposition of the Credit Rating Industry as an enabler of economic development and prosperity.
E-Business
Konga Unveils ‘All in All, Everything ×2’ Campaign, Offering Month-Long Discounts Across Product Categories

Konga, Nigeria’s leading composite e-commerce giant, has announced the launch of its highly anticipated ‘All in All, Everything ×2 – Category Month’ campaign.. This month-long shopping festival, running from September 1 to September 31, offers customers unprecedented discounts across a vast range of products.
The campaign is strategically designed to empower households and businesses by providing a golden opportunity to enjoy massive savings from globally renowned brands across diverse product categories.
The core of the “Category Month” campaign lies in its dynamic, week-by-week approach. Each week, Konga will spotlight a specific category, delivering targeted discounts that excite and engage shoppers.. For instance, the first week is set to focus on the Home and Kitchen category, presenting customers with a chance to upgrade their living spaces and culinary tools at unbeatable prices. This phased approach allows shoppers to plan purchases and shop intentionally throughout the month.
This strategic campaign is made possible through robust partnerships with top brands from around the world. These collaborations enable Konga to not only offer substantial price cuts but also guarantee the authenticity and quality that shoppers have come to expect from Konga. The synergy between Konga’s expansive platform and these global powerhouses ensures exceptional value while reinforcing Konga’s reputation as a trusted source for premium goods at affordable prices.
Over the course of the month, shoppers will enjoy exciting discounts across categories, including Home and Kitchen, Electronics, BHPC/Konga Fashion, Power and Automobile, Phones and Tablets, Computing and Accessories, Drinks and Groceries, and Baby, Kids and Toys. Konga’s “Category Month” has something for everyone.
In addition to the incredible deals, the campaign is bolstered by Konga’s efficient logistics infrastructure, offering customers unparalleled convenience. Customers in select locations can leverage KongaNow, the company’s express delivery service, with guaranteed delivery within one to six hours on eligible items. This fast and reliable delivery ensures shoppers can enjoy their purchases almost immediately.
Industry watchers have hailed Konga’s innovative campaigns as a catalyst for driving consumer confidence in online shopping, while also giving partner brands unmatched visibility.. The Category Month campaign further strengthens Konga’s commitment to enabling a vibrant digital marketplace where value, affordability, and trust intersect seamlessly.
The Category Month campaign is a strategic effort to enrich the lives of its customers by making high-quality products more accessible. Customers are encouraged to visit the Konga website to explore all the offers and take full advantage of ‘All in All, Everything ×2 – Category Month’.
E-Business
Firm Warns of Phishing Through Fake University Login Pages Targeting Academia

As the new international academic year begins, Kaspersky has detected a wave of phishing webpages targeting college and university students as well as professors. Attackers are deploying fake login portals that mimic official university websites, tricking users into entering credentials which can lead to stolen data or a complete loss of access to their university accounts.
Links to these phishing portals are either distributed in emails or appear in web search results when looking for academic institutions’ login pages.
The fraudulent portals closely replicate the branding and design of legitimate university systems. Students of multiple academic institutions across different regions have been targeted, including in the Middle East, Turkiye and Africa (META) region.
If users enter their credentials on these fake academic portals, cybercriminals can steal sensitive data such as login details which grant access to university accounts containing personal information, academic records, and financial data. Attackers may also change the passwords, blocking students and professors from critical resources like course materials, email, or payment systems. Compromised accounts can be used to send phishing emails to peers, spreading the attack within university networks.
“Colleges and universities are vulnerable due to their reliance on digital platforms and the high volume of users accessing systems during the international back-to-school rush.
These fake login portals can appear convincing, exploiting the trust that students and professors place in their university systems. We’re urging the academic community to stay vigilant and double check the web addresses of their educational institutions’ login pages to avoid losing data,” commented Olga Altukhova, Senior Web Content Analyst at Kaspersky.
To stay safe against education fraud, Kaspersky recommends the following:
- Enable multi-factor authentication (MFA): Activate MFA wherever possible, adding an extra layer of security to your online accounts. Use a reliable password manager that doesn’t just store your passwords but also generates one-time passwords for 2FA automatically.
- Use a reliable security solution for comprehensive protection from a wide range of threats, such as Kaspersky Premium.
- Stay skeptical: Exercise caution when encountering “too good to be true” offers, especially if they require payments or personal information upfront.
- Verify the source: Thoroughly research any scholarships, giveaways, or offers that come your way. Look for official contact details and confirm legitimacy before taking any action.
- Secure personal information: Avoid sharing sensitive data online unless you’re absolutely certain about the legitimacy of the request.
- Use trusted sources: Stick to official school websites, recognised scholarship platforms, and reputable retailers when making payments or providing personal information.
E-Business
FG Shuts Down over 13.5m Social Media Accounts for Alleged Policy Violations

Federal government has confirmed the closure of 13,597,057 social media accounts over harmful content and breaches of the country’s digital code of practice.
The figure was contained in the Code of Practice 2024 Compliance Report, submitted by major technology firms including Google, Microsoft, and TikTok.
The report outlined efforts made by online platforms to curb offensive content and strengthen user protection.
The compliance framework, introduced in 2022 and jointly enforced by the Nigerian Communications Commission (NCC), the National Information Technology Development Agency (NITDA), and the National Broadcasting Commission (NBC), required platforms to address user complaints and remove content that violates community guidelines or national regulations.
According to the latest report, social media platforms collectively deleted 58,909,112 posts flagged as offensive within the year.
Authorities also recorded 754,629 user complaints, while 420,439 pieces of content were reinstated following successful appeals.
In a statement issued by Hadiza Umar, spokesperson, NITDA, commended global platforms for what she described as “continued compliance” with Nigeria’s Code of Practice. She noted that the submission of the annual reports demonstrates a shared commitment to creating a safer digital environment.
“The compliance reports provide valuable insights into the platforms’ efforts to address user safety concerns in line with the Code of Practice and their community guidelines,” Umar said.
“We remain committed to working with industry players, civil society, and regulatory partners to strengthen user safety measures, enhance digital literacy, and promote trust and transparency in Nigeria’s digital ecosystem.”
The government said the monitoring exercise underscores its drive to ensure that Nigeria’s growing digital space remains secure, responsible, and free from harmful content.
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