Nigeria is ending decades of subsidies paid to ensure uniform gasoline prices in Africa’s biggest oil producer with crude prices at historical lows, the state-owned energy company said.
Official gasoline prices have been cut twice in as many weeks, a move the Nigerian National Petroleum Corp. said was intended to bring them in line with the current market situation. Nigeria relies on fuel imports to meet its domestic needs with four ill-maintained state refineries barely functional.
“What we are putting in place today is a situation where market forces will take control of prices and eliminate subsidy,” Mele Kyari, group managing director of the company also known as NNPC said in a Twitter post. Savings from the measure would be spent to build infrastructure, boost health care and education, he said.
Crude prices are down about 40% from the budget peg of $57 per barrel as the collapse of demand due to the coronavirus pandemic and a price war between Saudi Arabia and Russia pushed crude prices to record lows. Brent crude, which compares with Nigerian export grades, traded at $33.65 per barrel as of 17:05 p.m, in London, after trading under $30 in the previous two weeks.
By Elisha Bala-Gbogbo
Bloomberg
Friday, April 10, 2020
How the basic Nigerian email scam evolved into sophisticated malware attacks on corporates
Nigerian internet fraudsters, best known for romance scams and infamous business propositions from “Nigerian princes,” are now operating with a lot more sophistication.
Last August, a major bust by the Federal Bureau of Investigations (FBI) offered some insight into the growing scale and capabilities of Nigerian online fraudsters. Federal agents arrested 14 fraudsters operating within the US as part of a prolific network of scammers and named 66 others in a 252-count federal grand jury indictment. The fraudsters had defrauded victims of up to $10 million in one of the “largest cases of its kind in US history.” In total, the ring had attempted to steal $40 million from victims in 10 countries as well as the US.
A new report by Palo Alto Networks, a California-based cyber-security company which says it has researched Nigerian cyber-crime for five years, tries to show how these fraudsters have become a lot more proficient at scams over the past five years, employing more sophisticated tactics and tools to carry out Business Email Compromise (BEC) scams. It’s a long way from the classic “Yahoo Yahoo boys” scams 15 odd years ago.
While Nigerian actors were previously classed as “emerging” with regard to malware attacks, recent evidence suggests they “have evolved to a point where they are demonstrating signs of maturity consistent with established threat groups in their delivery techniques, malware packaging, and technical abilities,” Palo Alto Networks’ report notes. Last year, the firm’s malware tracking service identified around 27,000 samples of malware associated with Nigerian actors.
The researchers note the “dominant proportionality and sheer enormity” of BEC scam attempts from Nigerian actors. Last year, BEC scam attempts from these fraudsters resulted in an average of 92,739 attacks per month—172% increase from 2018.
Here’s how BEC scams work: fraudsters use hacked email accounts to convince businesses or individuals to make payments that are either bogus or similar to actual payments owed to legitimate companies. As part of the scam, fraudsters also learn about key personnel in companies who are responsible for those payments as well as the protocols necessary to perform wire transfers in various companies. They then target businesses and individuals that regularly perform such wire transfer payments.
Around $1.7 billion in losses were attributed to BEC attacks last year, more than losses to romance scams, phishing, identity theft, credit card fraud and ransomware, according to the annual report of the FBI’s Internet Crime Complaint Center.
The antics of these fraudsters have come at a wider cost for most Nigerians, as students, business people and tourists are often subject to extra scrutiny from international payment platforms, potential business partners and embassies for visa applications. While successive Nigerian governments have made significant efforts to curb international online fraud from the source at home by awarding notable powers to its anti-fraud agency, the state of the country’s weak economy and large swathes of educated, unemployed young college graduates means fraud is still seen by some as being worth the risk.
However, while growing sophisticated in their methods, Nigerian online fraudsters still “remain indiscriminate in their targeting” with attacks attempted on small and large businesses, healthcare companies as well US government institutions. However, high-tech companies bore the largest brunt of these efforts recording around 313,000 attacks last year—more than double the number in 2018.
And yet, the digital persona linked with young Nigerians has started to change markedly in recent years given several success stories in the country’s fledgling tech ecosystem over the last decade. Nigerian tech startups, innovating to solve many of the country’s systemic problems—from digital payments to online education—have attracted the most funding across Africa last year from major investors.
Nigerian software developers have also become widely sought afterbeyond the country’s shores, partly prompting a $100 million dollar bet on African development talent by software giant, Microsoft.
But even in Nigeria, local police have often “profiled” young men with laptops as online fraudsters as an excuse for harassment and extortion. This has led to significant protests and crowdfunding legal aid by the burgeoning tech community.
By Yomi Kazeem
Quartz
Last August, a major bust by the Federal Bureau of Investigations (FBI) offered some insight into the growing scale and capabilities of Nigerian online fraudsters. Federal agents arrested 14 fraudsters operating within the US as part of a prolific network of scammers and named 66 others in a 252-count federal grand jury indictment. The fraudsters had defrauded victims of up to $10 million in one of the “largest cases of its kind in US history.” In total, the ring had attempted to steal $40 million from victims in 10 countries as well as the US.
A new report by Palo Alto Networks, a California-based cyber-security company which says it has researched Nigerian cyber-crime for five years, tries to show how these fraudsters have become a lot more proficient at scams over the past five years, employing more sophisticated tactics and tools to carry out Business Email Compromise (BEC) scams. It’s a long way from the classic “Yahoo Yahoo boys” scams 15 odd years ago.
While Nigerian actors were previously classed as “emerging” with regard to malware attacks, recent evidence suggests they “have evolved to a point where they are demonstrating signs of maturity consistent with established threat groups in their delivery techniques, malware packaging, and technical abilities,” Palo Alto Networks’ report notes. Last year, the firm’s malware tracking service identified around 27,000 samples of malware associated with Nigerian actors.
The researchers note the “dominant proportionality and sheer enormity” of BEC scam attempts from Nigerian actors. Last year, BEC scam attempts from these fraudsters resulted in an average of 92,739 attacks per month—172% increase from 2018.
Here’s how BEC scams work: fraudsters use hacked email accounts to convince businesses or individuals to make payments that are either bogus or similar to actual payments owed to legitimate companies. As part of the scam, fraudsters also learn about key personnel in companies who are responsible for those payments as well as the protocols necessary to perform wire transfers in various companies. They then target businesses and individuals that regularly perform such wire transfer payments.
Around $1.7 billion in losses were attributed to BEC attacks last year, more than losses to romance scams, phishing, identity theft, credit card fraud and ransomware, according to the annual report of the FBI’s Internet Crime Complaint Center.
The antics of these fraudsters have come at a wider cost for most Nigerians, as students, business people and tourists are often subject to extra scrutiny from international payment platforms, potential business partners and embassies for visa applications. While successive Nigerian governments have made significant efforts to curb international online fraud from the source at home by awarding notable powers to its anti-fraud agency, the state of the country’s weak economy and large swathes of educated, unemployed young college graduates means fraud is still seen by some as being worth the risk.
However, while growing sophisticated in their methods, Nigerian online fraudsters still “remain indiscriminate in their targeting” with attacks attempted on small and large businesses, healthcare companies as well US government institutions. However, high-tech companies bore the largest brunt of these efforts recording around 313,000 attacks last year—more than double the number in 2018.
And yet, the digital persona linked with young Nigerians has started to change markedly in recent years given several success stories in the country’s fledgling tech ecosystem over the last decade. Nigerian tech startups, innovating to solve many of the country’s systemic problems—from digital payments to online education—have attracted the most funding across Africa last year from major investors.
Nigerian software developers have also become widely sought afterbeyond the country’s shores, partly prompting a $100 million dollar bet on African development talent by software giant, Microsoft.
But even in Nigeria, local police have often “profiled” young men with laptops as online fraudsters as an excuse for harassment and extortion. This has led to significant protests and crowdfunding legal aid by the burgeoning tech community.
By Yomi Kazeem
Quartz
Wednesday, April 8, 2020
Nollywood star arraigned for breaching coronavirus rules
Funke Akindele, a Nollywood film star popularly known as Jenifa, and her husband pleaded guilty in court and were each fined 100,000 naira ($260).
The court also sentenced them to 14 days of community service.
It ruled that the couple "shall visit 10 important public places within Lagos State to educate the public on the consequences of non-compliance with the restriction order."
They were accused of hosting guests at Saturday's bash for her husband in their upscale residence in Lekki.
Other alleged guests at the party, including well-known singer Naira Marley, have been told to report to the police criminal investigation department for questioning, Lagos state police spokesman Bala Elkana said on Monday.
Akindele's actions sparked angry reaction online from her fans after she earlier appeared in advertisements calling on Nigerians to observe social-distancing measures.
The actress issued an apology on her Instagram page on Sunday.
"I am sorry if I have misled you. I appreciate your concerns and I promise to always practice what I preach," she said. "I promise to always support the government in creating more awareness to eradicate this pandemic."
Al Jazeera
Nigeria's mega churches adjust to empty auditoriums
The auditoriums of Nigeria's mega churches are empty and their gates are shut as they are forced to observe a government ban on large gatherings to halt the spread of coronavirus.
But it took not only threats, but force and arrests for the message to get across.
In some cases those in charge of making the churches bolt their doors turned to the scriptures.
"May I use the words of [Prophet] Mordechai: 'For such as time as this we do what is appropriate,'" said the leader of an enforcing team in the capital, Abuja, as he arrested a pastor in front of his congregation.
Dressed all in black, had he had a collar he would have passed for a preacher with his baritone voice and gesticulations.
The pastor he led out of the church, donned in a burgundy-coloured suit, shiny black shoes and with hair that glowed in the sun, looked like many of those who now lead huge congregations in the West African nation.
These preachers have changed the face of Christianity in Nigeria - with their evangelical sermons, prophecies and promises of miracles.
Conspiracy theories
One of the most famous of these is TB Joshua, who last month claimed to be divinely inspired, predicting that the coronavirus pandemic would be over by 27 March, several days before a lockdown was imposed on the states of Lagos, Ogun and the capital, Abuja.
"By the end of this month, whether we like it or not, no matter the medicine they might have produced to cure whatever, it will go the way it came," he said to applause from his congregation.
When 27 March passed the TV evangelist found himself mocked for his "false prophesy".
But he defended himself - once again to cheers from worshippers - by saying: "What I meant was that the virus would be halted where it began, and in Wuhan it has stopped."
Other pastors have been accused of flying in the face of the authorities and spreading fake news, impeding efforts to stop the spread of coronavirus.
The biggest controversy has been caused by Christ Embassy pastor Chris Oyakhilome, who in a video post that went viral, linked the virus to 5G networks and alleged that it was part of a plot to create a "new world order".
Such views have been widely condemned by scientists, who say the idea of a connection between Covid-19 and 5G is "complete rubbish" and biologically impossible.
Online prayer services
For some Christians, especially those who belong to the dwindling pews of the Anglican and Catholic churches, more needs to be done to weaken the influence of the mega pastors who exploit vulnerable people.
"Those that sell us the miracle waters, the holy oils and all that, this is the time to prove it," said Blessing Ugonna, a woman I met in Lagos.
But many of the mega churches, which run multi-million dollar business empires, have adapted to the changes brought about by the virus.
They are streaming prayer services online, and some families are trying to create an atmosphere at home by dressing up in their Sunday outfits with the head of the household even collecting "offerings" - or money - from the rest of the family to give to their church.
The churches are also making donations to the government and financially stricken worshippers in a move that is likely to see them retain popularity.
Pastor Enoch Adeboye - the head of Redeemed Christian Church of God that has a branch in almost every street in mainly Christian cities and towns in southern Nigeria - has donated 200,000 hand gloves, 8,000 hand sanitisers, 8,000 surgical face masks to the Lagos state government..
And the Mountain of Holy Ghost Intervention Church - whose self-styled prophet Chukwuemeka Odumeje once caused a stir on social media for wrestling a congregant he claimed to be possessed by a demon - has earned some praise on Twitter for giving food to people who risk hunger during the two-week lockdown.
Empty streets on Holy week
Nevertheless, many Christians still yearn to go to church - and last Sunday was particularly difficult for them as it was Palm Sunday.
Usually, the streets of Lagos are packed on the day, with processions being held as the faithful wave palm leaves and re-enact Jesus' arrival in Jerusalem days before his crucifixion.
The streets were empty this year - just as they are likely to be over the Easter weekend.
But I did bump into a group of four - three women and a man - returning from a small service held in someone's home.
When I asked them why they had ignored advice to pray alone in their own homes, one of them replied: "Even the Bible said that where two or three are gathered, He is there in their midst. The Bible did not say one person."
'Prayer warriors'
I then went to the headquarters of the Mountain of Fire and Miracles Ministries, known for its intense prayer sessions, in Ogun state.
The security guards told me there was no service.
"Not even an online service?" I asked.
"Not even online," one of them, dressed in a lemon-coloured vest, replied.
"So how are people keeping the faith?" I inquired.
He dug into his bag and put a booklet into my hands.
"That's what they are reading while the lockdown lasts," he said, before walking away and shutting the gate with more force than was required.
The 60-page booklet was called Thirty Days Prayer Retreat - with recitations from the books of the Bible.
It will not be surprising if the "prayer warriors", as the church calls some of its worshippers, complete it during the 14-day lockdown, rather than in a month.
By Nduka Orjinmo
BBC
But it took not only threats, but force and arrests for the message to get across.
In some cases those in charge of making the churches bolt their doors turned to the scriptures.
"May I use the words of [Prophet] Mordechai: 'For such as time as this we do what is appropriate,'" said the leader of an enforcing team in the capital, Abuja, as he arrested a pastor in front of his congregation.
Dressed all in black, had he had a collar he would have passed for a preacher with his baritone voice and gesticulations.
The pastor he led out of the church, donned in a burgundy-coloured suit, shiny black shoes and with hair that glowed in the sun, looked like many of those who now lead huge congregations in the West African nation.
These preachers have changed the face of Christianity in Nigeria - with their evangelical sermons, prophecies and promises of miracles.
Conspiracy theories
One of the most famous of these is TB Joshua, who last month claimed to be divinely inspired, predicting that the coronavirus pandemic would be over by 27 March, several days before a lockdown was imposed on the states of Lagos, Ogun and the capital, Abuja.
"By the end of this month, whether we like it or not, no matter the medicine they might have produced to cure whatever, it will go the way it came," he said to applause from his congregation.
When 27 March passed the TV evangelist found himself mocked for his "false prophesy".
But he defended himself - once again to cheers from worshippers - by saying: "What I meant was that the virus would be halted where it began, and in Wuhan it has stopped."
Other pastors have been accused of flying in the face of the authorities and spreading fake news, impeding efforts to stop the spread of coronavirus.
The biggest controversy has been caused by Christ Embassy pastor Chris Oyakhilome, who in a video post that went viral, linked the virus to 5G networks and alleged that it was part of a plot to create a "new world order".
Such views have been widely condemned by scientists, who say the idea of a connection between Covid-19 and 5G is "complete rubbish" and biologically impossible.
Online prayer services
For some Christians, especially those who belong to the dwindling pews of the Anglican and Catholic churches, more needs to be done to weaken the influence of the mega pastors who exploit vulnerable people.
"Those that sell us the miracle waters, the holy oils and all that, this is the time to prove it," said Blessing Ugonna, a woman I met in Lagos.
But many of the mega churches, which run multi-million dollar business empires, have adapted to the changes brought about by the virus.
They are streaming prayer services online, and some families are trying to create an atmosphere at home by dressing up in their Sunday outfits with the head of the household even collecting "offerings" - or money - from the rest of the family to give to their church.
The churches are also making donations to the government and financially stricken worshippers in a move that is likely to see them retain popularity.
Pastor Enoch Adeboye - the head of Redeemed Christian Church of God that has a branch in almost every street in mainly Christian cities and towns in southern Nigeria - has donated 200,000 hand gloves, 8,000 hand sanitisers, 8,000 surgical face masks to the Lagos state government..
And the Mountain of Holy Ghost Intervention Church - whose self-styled prophet Chukwuemeka Odumeje once caused a stir on social media for wrestling a congregant he claimed to be possessed by a demon - has earned some praise on Twitter for giving food to people who risk hunger during the two-week lockdown.
Empty streets on Holy week
Nevertheless, many Christians still yearn to go to church - and last Sunday was particularly difficult for them as it was Palm Sunday.
Usually, the streets of Lagos are packed on the day, with processions being held as the faithful wave palm leaves and re-enact Jesus' arrival in Jerusalem days before his crucifixion.
The streets were empty this year - just as they are likely to be over the Easter weekend.
But I did bump into a group of four - three women and a man - returning from a small service held in someone's home.
When I asked them why they had ignored advice to pray alone in their own homes, one of them replied: "Even the Bible said that where two or three are gathered, He is there in their midst. The Bible did not say one person."
'Prayer warriors'
I then went to the headquarters of the Mountain of Fire and Miracles Ministries, known for its intense prayer sessions, in Ogun state.
The security guards told me there was no service.
"Not even an online service?" I asked.
"Not even online," one of them, dressed in a lemon-coloured vest, replied.
"So how are people keeping the faith?" I inquired.
He dug into his bag and put a booklet into my hands.
"That's what they are reading while the lockdown lasts," he said, before walking away and shutting the gate with more force than was required.
The 60-page booklet was called Thirty Days Prayer Retreat - with recitations from the books of the Bible.
It will not be surprising if the "prayer warriors", as the church calls some of its worshippers, complete it during the 14-day lockdown, rather than in a month.
By Nduka Orjinmo
BBC
Nigeria visa firm owned by man on fraud charges
The owner of the Nigerian government-appointed company which produces visas for people wishing to travel to Nigeria from around the world is facing charges of fraud and money laundering in Nigeria in relation to a different company, the BBC has learnt in a joint investigation with the Premium Times.
There is no suggestion of wrongdoing by the visa-processing company and the allegations have no relation to the management of the visa business.
Mahmood Ahmadu, together with his former company Drexel Tech, was charged by the Economic and Financial Crimes Commission (EFCC), on two counts of fraud and three counts of money laundering.
Three others, including former Interior Minister Abba Moro, face charges of fraud and breach of public procurement laws.
All those charged, including Mr Moro and Mr Ahmadu, deny any wrongdoing.
Mr Ahmadu has been highly regarded in Nigeria and was given the Order Of The Niger, a prestigious national award, by President Goodluck Jonathan in 2014.
His lawyers say at no time did the EFCC or any other authority in Nigeria or elsewhere declare him "wanted". They say he is not standing trial. He maintains his innocence and his lawyers deny that he is facing charges.
Stadium stampede
But the EFCC charge sheet alleges that Mr Ahmadu, together with other defendants, was involved in organising a recruitment exercise that led to the deaths of Nigerians.
Mr Ahmadu's former company, Drexel Tech, was engaged in 2013 to organise a recruitment drive supposedly for 4,000 vacancies in the Nigerian Immigration Service (NIS).
However the NIS later said there were no vacancies. In total, 676,675 Nigerians applied for the jobs, paying 1,000 naira (£2; $2.30) each to register.
When dates for a recruitment exercise were set, several people died during a stampede as thousands of jobseekers scrambled into the Abuja National Stadium to take part in the exercise allegedly organised by the Interior Ministry.
"I was surprised about the recruitment exercise because I was not aware of it," then NIS Controller General, David Paradang, later told the Federal High Court in Abuja.
'Hiding in Europe'
The EFCC has said that Mr Ahmadu, who the charge sheet describes as "at large", and the co-accused, made a total of 677m naira (£1.4m; $1.6m) from the recruitment exercise.
The charge sheet alleges that Mr Ahmadu and Drexel Tech Nigeria Ltd spent part of the money to purchase property in Abuja while just over 100 million naira, it is claimed, was converted to dollars for the personal use of Mr Ahmadu and the company.
While all the other co-accused, including Mr Moro, presented themselves for questioning and are currently standing trial, the EFCC says that Mr Ahmadu did not come forward to talk about his alleged role in the recruitment exercise.
Back in 2016, then spokesperson of the EFCC, Wilson Uwujiaren, told the Nation newspaper: "We may enlist Interpol and relevant agencies in the UK to track down Mahmood Ahmadu. He used to have companies in the UK and with his biometrics, there is no hiding place for him. We have already watch-listed him."
Last week, the EFCC's current spokesperson, Tony Orilade, told the BBC that there is still a case against Mr Ahmadu.
"The charge sheet reads that he is at large. The position of the EFCC is clear: the proceeds of the recruitment remains illegal...
"The EFCC is aware he is hiding in Europe. He has not been seen since arraignment."
By Sam Piranty
BBC
There is no suggestion of wrongdoing by the visa-processing company and the allegations have no relation to the management of the visa business.
Mahmood Ahmadu, together with his former company Drexel Tech, was charged by the Economic and Financial Crimes Commission (EFCC), on two counts of fraud and three counts of money laundering.
Three others, including former Interior Minister Abba Moro, face charges of fraud and breach of public procurement laws.
All those charged, including Mr Moro and Mr Ahmadu, deny any wrongdoing.
Mr Ahmadu has been highly regarded in Nigeria and was given the Order Of The Niger, a prestigious national award, by President Goodluck Jonathan in 2014.
His lawyers say at no time did the EFCC or any other authority in Nigeria or elsewhere declare him "wanted". They say he is not standing trial. He maintains his innocence and his lawyers deny that he is facing charges.
Stadium stampede
But the EFCC charge sheet alleges that Mr Ahmadu, together with other defendants, was involved in organising a recruitment exercise that led to the deaths of Nigerians.
Mr Ahmadu's former company, Drexel Tech, was engaged in 2013 to organise a recruitment drive supposedly for 4,000 vacancies in the Nigerian Immigration Service (NIS).
However the NIS later said there were no vacancies. In total, 676,675 Nigerians applied for the jobs, paying 1,000 naira (£2; $2.30) each to register.
When dates for a recruitment exercise were set, several people died during a stampede as thousands of jobseekers scrambled into the Abuja National Stadium to take part in the exercise allegedly organised by the Interior Ministry.
"I was surprised about the recruitment exercise because I was not aware of it," then NIS Controller General, David Paradang, later told the Federal High Court in Abuja.
'Hiding in Europe'
The EFCC has said that Mr Ahmadu, who the charge sheet describes as "at large", and the co-accused, made a total of 677m naira (£1.4m; $1.6m) from the recruitment exercise.
The charge sheet alleges that Mr Ahmadu and Drexel Tech Nigeria Ltd spent part of the money to purchase property in Abuja while just over 100 million naira, it is claimed, was converted to dollars for the personal use of Mr Ahmadu and the company.
While all the other co-accused, including Mr Moro, presented themselves for questioning and are currently standing trial, the EFCC says that Mr Ahmadu did not come forward to talk about his alleged role in the recruitment exercise.
Back in 2016, then spokesperson of the EFCC, Wilson Uwujiaren, told the Nation newspaper: "We may enlist Interpol and relevant agencies in the UK to track down Mahmood Ahmadu. He used to have companies in the UK and with his biometrics, there is no hiding place for him. We have already watch-listed him."
Last week, the EFCC's current spokesperson, Tony Orilade, told the BBC that there is still a case against Mr Ahmadu.
"The charge sheet reads that he is at large. The position of the EFCC is clear: the proceeds of the recruitment remains illegal...
"The EFCC is aware he is hiding in Europe. He has not been seen since arraignment."
By Sam Piranty
BBC
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