ePayment Will Increase Customer Satisfaction for Logistics Businesses – Remita

Stakeholders in the nation’s  logistics and supply chain sector in Nigeria must adopt electronic payment to improve customer satisfaction and retention, fast-track the delivery process and increase accountability for sustenance.
Kayode Osinulu, a business lead for special projects and fintech partnerships at SystemSpecs, providers of Remita, said this during a panel session at the Conclase Business Webinar 2.0 which recently held online.
The event which was organised by Conclase Consulting in partnership with the Nigerian Postal Service (NIPOST) was themed ‘Enhancing hitch-free delivery for businesses and logistic companies to maximise customer satisfaction’.
According to Osinulu,electronic payments remain a game-changer for the logistics industry to create more value and seamlessly manage the process preceding pick-up down to delivery.
He added:“Digitising the tracking, invoicing, and collection of payments will greatly improve experience for logistic firms and other businesses. As a result, there will be improved accountability, transparency and profitability. Also, e-commerce, competitive pricing strategy and delivery efficiency will make logistic firms stand out”.
Osinulu stated that Remita Payment Gateway has for years filled the e-payment gap for businesses and government parastatals alike, as its payment platform continues to improve its processes of integration with any website or application while its multiple payment options enhance the convenience of payers and give merchant easy access to their funds.
“With mobile payments continuing to deepen expansion, commerce firms are likely to continue to benefit from a sustainable ecosystem. Business owners should also be particular in understanding their customers’ behaviour while implementing innovative sales strategies that maintain low operational costs, create value for customers and improve revenue for the business,” he added.
SEC Expresses Commitment  To Promote  Green Economy 

Director General of the SEC, Mr. Lamido Yuguda - Ameh News
 Securities and Exchange Commission says  it will continue to strive to deliver coordinated and coherent policy advice, capacity building and regulatory support to build the momentum for a green economy.
Green finance has been defined as any structured financial activity that has been created to ensure a better environmental outcome.
Director General of the SEC, Mr. Lamido Yuguda who stated this in a goodwill message at the official launching ceremony of the FMDQ Green Exchange, said the Commission remains a strong advocate for the promotion of infrastructural development through sustainable financing as it believes that the huge budget deficit and infrastructural gap in the country can be financed by harnessing resources available from sustainable finance investors and interest groups around the world.
He said, “Without doubt, there are tremendous opportunities in the areas of power generation and transmission, rail transportation, housing, agriculture and water among others, where sustainable financing can be an avenue for the private sector to partner with government in the overall drive for prosperity and economic development.
“The Commission had in December 2018, released the rules on Green Bonds to support the issuance of debt instruments with positive impact on the environment.
“Although the Nigerian capital market has recorded some green bond issuances, there is ample room for additional issuances as stakeholders within the sector can do more in terms of green and sustainable finance; especially considering the available global investment opportunities and our domestic development needs”.
The SEC DG said the launch of the FMDQ Green Exchange as a platform for the collection and dissemination of data and information on green and sustainable securities for transparency purposes is a step in the right direction.
He disclosed that ESG factors form key components in qualitative market research, valuation of equities and fixed income securities, portfolio construction and asset allocation and expressed excitement with the contribution of the FMDQ, which will enhance these aspects of the capital market.
According to him, “Effective ESG reporting can fuel strong capital markets, as high standards of disclosure and transparency are a critical part of the requirements in ESG investing.  The performance of this platform will be a testing ground for the enormous potentials ahead.
“The United Nations recognizes that green financing plays a major role in delivering a number of its Sustainable Development Goals. The ongoing 2021 United Nations Climate Change Conference underscores the transition to a low-carbon, more resource efficient economy and in building a financial system that stimulates sustainable growth across nations.
“There is enormous capacity for the financial system to fund the transition to a green economy. For this to happen, the right conditions and incentives need to be in place.
These include incentivizing market participants to be more conscious of long-term risks and opportunities; Improving access for retail investors, and supporting institutional investors to direct their capital towards a long-term impact; enhancing trust in green financial products, by giving clear and reliable information to those who invest in them and providing the necessary regulatory and policy support to create an enabling environment for innovative ideas in green finance to thrive”.
Yuguda said FMDQ for some years now has earned for itself a reputation for innovation in the Nigerian capital market with the introduction of new products, platforms, processes and even players adding that sustainable finance has come to stay and the benefits would be visible in the improvements to Nigeria’s physical and economic environment.
NUPRC Partners  Stakeholders On Beneficial Ownership Data 

NUPRC seeks oil producers support for smooth implementation of PIA - Prompt  News
The Nigeria Upstream Petroleum Regulatory Commission (NUPRC), has expressed its determination to partner  with relevant stakeholders on maintaining information on beneficial ownership as well as maintain data on companies that owns extractive licences for a better and healthy business climate.
Engr. Gbenga Komolafe, the Chief Executive Officer of NUPRC, gave the commitment during the launch of the “Opening Extractives in Nigeria”, by the Nigeria Extractive Industries Transparency Initiative (NEITI), in Abuja.
Engr. Komolafe, noted that already, at the NUPRC, Beneficial Ownership (BO) Reporting system, is being implemented as it is a statutory requirement which demands full disclosure of beneficial ownership information.
He maintained that both NUPRC and NEITI share a common vision of transparency and accountability in Nigeria’s energy sector.
According to him,  NUPRC is fully committed to work with NEITI to deepen Nigeria’s implementation of contract transparency and beneficial ownership disclosures in the country in a bid to ensure that the revenues from natural resource assets support national development and help reduce poverty.
Let me start by commending the courage of His Excellency, President Muhammadu Buhari (GCFR), in signing the Petroleum Industry Act (PIA) which has brought about the much-desired assurances and trust for investors in the Nigerian oil and gas industry. The establishment of the NUPRC represents a major milestone in the reform and operationalization in the oil and gas industry, given the decade-long journey to the enactment of the PIA.
“I also want to applaud your relentless efforts and consistency in the setting and implementation of global standards for the promotion of an open and accountable system in the management of extractive resources across the world. This task by all means is herculean. The impact of your active role in Nigeria and globally has been very significant and I dare to commend you specially for the giant strides.
“The NUPRC and NEITI share a common vision of transparency and accountability in Nigeria’s energy sector. The NUPRC is fully committed to work with NEITI to deepen Nigeria’s implementation of contract transparency and beneficial ownership disclosures in the country in a bid to ensure that the revenues from natural resource assets support national development and help reduce poverty.
“At the NUPRC, we have implemented Beneficial Ownership (BO) Reporting system, as it is a statutory requirement which demands full disclosure of beneficial ownership information. To this end, the Nigerian Oil and Gas Asset Beneficial Ownership Register (NOGABOR) portal has been developed by commission’s ICT team and is live. The Commission is engaging the oil and companies to ensure their mandatory compliance.
“The NUPRC is committed to collaborating on maintaining information on beneficial ownership, maintain data on companies that owns extractive licences, creating a better and healthy business climate. The results of these Is that citizens will be aware of who they are doing business with or competing against and will also encourage appropriate stakeholder engagement which is a part of Nigeria’s Open Government Action Plan” he said.
Komolafe assured  NEITI and indeed all stakeholders of a transparent, cost efficient, safe, and sustainable framework, for the management of Nigeria’s hydrocarbon resources, in the best interest of the nation’s investors and in line with global best practice.
 NCC Unravels New Malware Attacking Android Devices

The Nigerian Communications Commission (NCC) says it has discovered  a new Android malware has been discovered.
The malware, named ‘AbstractEmu’, can gain access to smartphones, take complete control of infected smartphones and silently modify device settings while simultaneously taking steps to evade detection.
This discovery was announced recently by the Nigerian Computer Emergency Response Team (ngCERT), the national agency established by the Federal Government to manage the risks of cyber threats in the Nigeria, which also coordinates incident response and mitigation strategies to proactively prevent cyber-attacks against Nigeria
AbstractEmu has been found to be distributed via Google Play Store and third-party stores such as the Amazon Appstore and the Samsung Galaxy Store, as well as other lesser-known marketplaces like Aptoide and APKPure.
The advisory stated that a total of 19 Android applications that posed as utility apps and system tools like password managers, money managers, app launchers, and data saving apps have been reported to contain the rooting functionality of the malware.
The apps are said to have been prominently distributed via third-party stores such as the Amazon Appstore and the Samsung Galaxy Store, as well as other lesser-known marketplaces like Aptoide and APKPure. The apps include All Passwords, Anti-ads Browser, Data Saver, Lite Launcher, My Phone, Night Light and Phone Plus, among others.
According to the report, rooting malware although rare, is very dangerous. By using the rooting process to gain privileged access to the Android operating system, the threat actor can silently grant itself dangerous permissions or install additional malware – steps that would normally require user interaction. Elevated privileges also give the malware access to other apps’ sensitive data, something not possible under normal circumstances.
The ngCERT advisory also captured the consequences of making their devices susceptible to AbstractEmu attack. Once installed, the attack chain is designed to leverage one of five exploits for older Android security flaws that would allow it to gain root permissions. It also takes over the device, installs additional malware, extracts sensitive data, and transmits to a remote attack-controlled server.
Besides, the malware can modify the phone settings to give app ability to reset the device password, or lock the device, through device admin; draw over other windows; install other packages; access accessibility services; ignore battery optimisation; monitor notifications; capture screenshots; record device screen; disable Google Play Protect; as well as modify permissions that grant access to contacts, call logs, Short Messaging Service (SMS), Geographic Positioning System (GPS), camera, and microphone.
The ngCERT also asserts in the advisory that, while the malicious apps were removed from Google Play Store, the other app stores are likely distributing them. Consequently, the NCC wishes to reiterate a two-fold ngCERT advisory in order to mitigate the risks.
The NCC, in exercise of its mandate and obligation to the consumers, will continue to sensitise and educate telecoms consumers on any cyber threat capable of inflicting low or high-impact harms on their devices, whether discovered through the ngCERT or the telecom sector’s Centre for Computer Security Incident Response managed by the Commission.
 NCC Unravels New Malware Attacking Android Devices
The Nigerian Communications Commission (NCC) says it has discovered  a new Android malware has been discovered.
The malware, named ‘AbstractEmu’, can gain access to smartphones, take complete control of infected smartphones and silently modify device settings while simultaneously taking steps to evade detection.
This discovery was announced recently by the Nigerian Computer Emergency Response Team (ngCERT), the national agency established by the Federal Government to manage the risks of cyber threats in the Nigeria, which also coordinates incident response and mitigation strategies to proactively prevent cyber-attacks against Nigeria
AbstractEmu has been found to be distributed via Google Play Store and third-party stores such as the Amazon Appstore and the Samsung Galaxy Store, as well as other lesser-known marketplaces like Aptoide and APKPure.
The advisory stated that a total of 19 Android applications that posed as utility apps and system tools like password managers, money managers, app launchers, and data saving apps have been reported to contain the rooting functionality of the malware.
The apps are said to have been prominently distributed via third-party stores such as the Amazon Appstore and the Samsung Galaxy Store, as well as other lesser-known marketplaces like Aptoide and APKPure. The apps include All Passwords, Anti-ads Browser, Data Saver, Lite Launcher, My Phone, Night Light and Phone Plus, among others.
According to the report, rooting malware although rare, is very dangerous. By using the rooting process to gain privileged access to the Android operating system, the threat actor can silently grant itself dangerous permissions or install additional malware – steps that would normally require user interaction. Elevated privileges also give the malware access to other apps’ sensitive data, something not possible under normal circumstances.
The ngCERT advisory also captured the consequences of making their devices susceptible to AbstractEmu attack. Once installed, the attack chain is designed to leverage one of five exploits for older Android security flaws that would allow it to gain root permissions. It also takes over the device, installs additional malware, extracts sensitive data, and transmits to a remote attack-controlled server.
Besides, the malware can modify the phone settings to give app ability to reset the device password, or lock the device, through device admin; draw over other windows; install other packages; access accessibility services; ignore battery optimisation; monitor notifications; capture screenshots; record device screen; disable Google Play Protect; as well as modify permissions that grant access to contacts, call logs, Short Messaging Service (SMS), Geographic Positioning System (GPS), camera, and microphone.
The ngCERT also asserts in the advisory that, while the malicious apps were removed from Google Play Store, the other app stores are likely distributing them. Consequently, the NCC wishes to reiterate a two-fold ngCERT advisory in order to mitigate the risks.
The NCC, in exercise of its mandate and obligation to the consumers, will continue to sensitise and educate telecoms consumers on any cyber threat capable of inflicting low or high-impact harms on their devices, whether discovered through the ngCERT or the telecom sector’s Centre for Computer Security Incident Response managed by the Commission.
Buhari Congratulates Soludo,Urges Support To Confront Challenges Ahead

Buhari congratulates Gov. Elect Charles Soludo, calls for support to confront  challenges ahead | AIT LIVE
President Muhammadu Buhari has congratulated Prof. Charles Chukwuma Soludo, the candidate of the All Progressives Grand Alliance (APGA) for  emerging winner in the just concluded gubernatorial election in Anambra State.
The President in a statement by his media aide, Femi Adesina, on Wednesday, praised the security agencies for their determination to ensure that the election went on as smoothly as possible, and the Independent National Electoral Commission (INEC) for the successful conclusion of the exercise  despite the initial challenges encountered.
President Buhari implored Prof. Soludo, member of the Presidential Economic Advisory Committee, to rally other stakeholders to tackle the enormous challenges confronting the state and the Southeast in general.
He said he looks forward to working with the incoming governor for the  peace, security and development of not only Anambra State, but the entire country.
Nigeria’s  Oil Production Quota Drops By 261,000bpd

Nigeria's October oil output fell to 1.37 million bpd – Report - Punch  Newspapers
S&P Global Platts survey says Nigeria’s oil production remains below its monthly quota despite higher crude oil prices and allocations
The country’s production,it said,dropped to 1.37 million barrels a day in October, 261,000 bpd below its OPEC+ quota, due to operational setbacks and sabotage from key pipelines.
According to the survey,Nigeria’s shortfalls and others have contributed to a tight oil market as global demand has recovered to near pre-pandemic levels, prompting intense criticism from the US and other consuming countries that have complained of high oil prices.
It added  that Bonny Light, Escravos and Forcados have all faced production issues in 2021, while output of other key grades such as Qua Iboe, Brass River, Agbami, Akpo and Egina have also remained consistently low this year.
Though Nigeria is expected to produce 1.66 million barrels a day of crude under the new OPEC+ agreement for December, higher than the current 1.4 million barrels per day being recorded by the country, there are concerns that the country can attain the volume despite assurances by the Minister of State for Petroleum, Timipre Sylva.
In the 2022 budget, the nation’s crude output stands at 1.88 million barrels per day (bpd), although its agreement with OPEC is roughly 1.47 million bpd.
The Independent Petroleum Producers Group (IPPG) had at the weekend, decried rising huge crude oil theft from its assets, a situation it described as threatening its over $10 billion investments in the country
The Chairman of the Group, Abdulrasaq Isa, who is also the Board Chairman at Waltersmith Petroman Oil Limited, disclosed that operators’ investments remain challenged by incidences of crude theft.
The Chairman said to address the trend, there is need to enhance security for strategic installations and assets across the region while a major offensive against crude oil thieves be reinvigorated.
Besides, he suggested execution of a private sector driven pipeline security initiative and deployment of surveillance technology like drone technology to identify Illegal crude theft points.
He also called for continuous engagement with regulators in the formulation of regulations and inclusion of IPPG members in the Petroleum Industry Act, PIA, Implementation Steering Committee and all-inclusive approach in the effective and timely implementation of the PIA.
In his remarks, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, acknowledged concerns about crude theft in the industry but assured that the government is taking serious steps to address them.
Komolafe, said a strong security web will be weaved around oil facilities to curb the incidence, adding that community engagement as stipulated in the Act would be rigorously pursued to achieve peace in host communities.
Though OPEC and its allies boosted crude oil production by 480,000 b/d in October, only half of the group’s members actually increased output last month as many in the coalition are struggling to pump as many barrels as they had promised, according to Platts survey.
OPEC’s 13 countries pumped 27.55 million b/d, up 260,000 b/d from September, while Russia and eight other partners added 13.66 million b/d, up 220,000 b/d.
The monthly rise was attributed mainly to the group’s largest oil producers Saudi Arabia, Russia, the UAE and Kuwait, which still have ample spare output capacity, as well as Kazakhstan, which completed heavy maintenance on a key field.
The 19 members with production quotas under the OPEC+ accord were a combined 600,000 b/d below their allocations for the month, bringing compliance to 113.21 per cent, the survey found.