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Home Blog Page 5139

Reviewing Nigerian Communications Commission’s Alert On Unlocking Of Vehicles By Hackers in Nigeria

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The Nigerian Communications Commission (NCC) within the week warned car owners in Nigeria to beware of new hacking methods, which could remotely open car doors and start engines without keys.

The commission disclosed that owners of Honda and Acura car models were more prone to this attack.

The warning was part of the recent discoveries made by the Computer Security Incident Response Team (CSIRT), a cyber-security centre established for the telecom sector by the NCC.

Part of the centre’s report, released to the media by the commission’s Director of Public Affairs, Dr Ikechukwu Adinde, alerted telecom consumers and members of the public, particularly car owners, on an ongoing cyber-vulnerability that allows a nearby hacker to unlock vehicles, start their engines wirelessly and make away with the cars.

According to Adinde, “the CSIRT discovered that because car remotes are categorized as short-range devices that make use of Radio Frequency (RF) to lock and unlock cars, there are immediate dangers in a new hacking method which see hackers take advantage to unlock and start a compromised car”.

The CSIRT notified that the vulnerability is a Man-in-the-Middle attack or, more specifically, a replay attack in which an attacker intercepts the RF signals normally sent from a remote key to the car, manipulates these signals, and re-sends them later to unlock the car at will.

Dr Adinde quoted the CSIRT as saying, “Multiple researchers disclosed a vulnerability, which is said to be used by a nearby attacker to unlock some Honda and Acura car models and start their engines wirelessly.

“The attack consists of a threat actor capturing the radio frequency signals sent from your key fob to the car and resending these signals to take control of your car’s remote keyless entry system,”

“However, when affected, the only mitigation is to reset your key fob at the dealership. The affected car manufacturer may provide a security mechanism that generates fresh codes for each authentication request, this makes it difficult for an attacker to replay the codes thereafter”.

The NCC equally advised car users to store their key fobs in signal-blocking ’Faraday pouches’ when not in use.

It cautioned car owners, especially of Honda and Acura models to choose Passive Keyless Entry (PKE) as opposed to Remote Keyless Entry (RKE), to make it harder for an attacker to read the signal, because criminals would need to be at close proximity to carry out their nefarious acts.

The PKE is an automotive security system that operates automatically when the user is in proximity to the vehicle, unlocking the door on approach or when the door handle is pulled, and also locking it when the user walks away or touches the car on exit.

The RKE system, on the other hand, represents the standard solution for conveniently locking and unlocking a vehicle’s doors and luggage compartment by remote control.

The bone of contention is that, be it PKE or RKE, vehicle owners are enjoined to be wiser than serpent, to enable them to become a step ahead of hackers. Hence, they must seek advice from professionals whenever they acquire any vehicle prior to its use.

As tech or digitization obviously advances by the day, the members of the public are strongly urged to ensure they update their mindsets on a regular basis as regards any tech-driven gadget in their possession. They need to be well informed concerning any device being used by them or their loved ones, towards realizing the danger inherent that comes up as the days unfold.

As computer users are alerted to ensure strict passwords are being used, as well as regularly reviewed and changed, so it is applicable to vehicle owners or users of any tech appliance, to avert falling victim.

A $1.5 Billion Facility To Avert Food Crisis In Africa Approved

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The African Development Bank Group’s Board Of Directors on Friday approved a $1.5 billion facility to help African countries avert a looming food crisis. Due to the Russian-Ukraine war that has led to the disruption of food supplies, Africa now faces a shortage of at least 30 million metric tons of food, especially wheat, maize, and soybeans imported from both countries.

Farmers in Africa are in more need of quality seeds and inputs which they need to plant to be able to boost food supplies. Therefore, the African Development bank board has approved $1.5 billion in facilities to avert the food crisis in Africa.

The African emergency food production facility will therefore provide 20 million African smallholder farmers with certified seeds. They will also enable them access to agricultural fertilizers, which will enhance them to rapidly produce 38 million tons of food.

The African Development Bank President Dr. Akinwunmi Adesina disclosed that food aid cannot feed Africa. He further stated that what Africa needs is not food bowls in their hands, but rather seeds in the ground, as well as mechanical harvests which will aid them to harvest bountiful food produced locally.

The African Development Bank will provide fertilizers to smallholder farmers across Africa over the next four farming seasons, using the convening influence with major fertilizer manufacturers, loan guarantees, and other financial instruments.

The Russian-Ukraine war negatively impacted a lot of countries most especially in Africa, because a large amount of them rely on Russia and Ukraine for a significant percentage of their food products, such as Wheat, Barley, Fertilizers, Vegetable oils, etc.

The war disrupted the global commodity markets and trade flows to Africa, which increased the prices of food in the region. Even before the war in Ukraine, a lot of countries in Africa were already faced with soaring food prices and scarcity, due to extreme climate change that disrupted planting and production efforts.

Many countries from East to Western Africa, have since been grappling with soaring food and fertilizer prices. The plan for the African Development Bank to provide 20 million farmers with seeds and fertilizers is highly commendable because Africans do not need to be spoon-fed, but rather given seeds to plant which will help them to also produce their food and stop being so dependent on other countries for food supplies.

Supplying them with foodstuffs will only do them more harm than good, as they will quickly exhaust it no matter how much, and always have them coming back for more which is not ideal. When these farmers in Africa put seeds in the ground, they will be able to feed themselves and also produce in large quantities, which will enable food security in the region. They will be able to feed themselves and preserve their dignity because there is no dignity in begging.

It has been estimated by the African Development bank that when these African farmers are given seeds and access to agricultural fertilizers, it will enable them to produce 38 million tons of food, which is a $12 billion increase in food production in just two years.

As Experts Advocate Gender Equality In Tech Industry

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To commemorate the International Day of Girls in ICT, industry experts have called for gender equality in the sector.

According to the National Bureau of Statistics, on the average, in Nigeria, women make up merely about 22 percent of the total number of engineering and technology university graduates on a yearly basis.

While the Information Technology (IT) industry often talks about inclusion and diversity, much more work needs to be done.

There is undeniably a gender divide in all businesses, and one of these historically male-dominated industries is technology.

For Global Head of Zoho for Start-ups, Kuppulakshmi Krishnamoorthy, knowing the importance of equal gender representation in tech is one thing, and doing what it takes to support to become an ally, is an entirely different thing.

She said “To support gender equality in tech, the key players who have the power to propel this movement and those that can translate mere words into actions, need to have infinite compassion, and courage born out of empathy and kindness to constantly work on changing the stereotypes.”

While making recommendations to amplify support, Krishnamoorthy said there should be support for equality from early education on diversity and inclusion.

She stated, “Invest time and money on training to overcome conscious and unconscious bias; to create more resonant leaders; to create a community of mentors and givers who passionately volunteer and train young girls; to find and bring together more people who are truly intentional and are willing to pass the baton of knowledge on.

“Create and make available a marketplace of tech tools for learning and development like robotics kits, sandbox developer platforms, etc., that help in proving that technology can be a leveller. Empower young girls by helping them enhance their innate emotional quotient (EQ), keeping in mind inter-sectionalism.”

On her part, the Chief Executive Officer (CEO) of SweepSouth, a home services company, Aisha Pandor, said, “When it comes to getting more women into tech or other spaces where we are underrepresented language and representation matter, we often hear that when females are assertive, they are seen as aggressive, but when males are assertive, they are confident.

“That kind of language and those kinds of stereotypes start being entrenched when kids are young and impressionable. For example, as early as at primary school, when girls are studying maths and science, it’s well reported that many don’t feel confident enough in a class with other young boys, to put up their hands to answer questions.”

Pandor noted that as a society, “we need to be aware of any gender biases our children grow up with, and consciously untrain them, otherwise they occur at such a formative stage of development that they become entrenched and difficult to undo.

“This awareness work needs to be done with both girls and boys, without leaving either by the wayside. We also need to highlight more women in Science, Technology, Engineering, and Mathematics (STEM) in everyday life.

“If girls and women start seeing more women in spaces they wish to be part of, they will see their ambitions as relatable and achievable, and feel more encouraged to chase their dreams in this regard.”

While a strategist at Striata Africa, Dori-Jo Bonner opined that despite progress, there was still much more work to be done.

“As strange as it may sound, the gender divide in our technology business begins even before girls enter the workforce. As is the case with many other professions, ‘technology’ still carries many outdated stereotypes, and research indicates that girls are significantly less likely to study technology to consider a career in the sector.”

Bonner stressed this should not be the case, as the youth of today had emerged in tech much more than ever before, from entertainment to education, the next generation is introduced at a young age to technology and all it has to offer.

Based on her assertion, “What young girls do not learn about are the job prospects available in the technology industry and the important need for women to be acknowledged and make a difference in this space.

“It is crucial that we educate, mentor, and guide young girls about these options because only through this type of mentoring and guidance, can we begin to open doors to so many people whose abilities and talents are so sorely needed right now.”

From my view, to truly encourage young girls to key into the tech industry, we must begin from the homes and schools. The parents must desist from discouraging their girl child who possesses interest in taking a career in technologically-inclined disciplines. The schools ought to equally follow suit.

Above all, the concerned authorities need to deploy a mechanism that would ensure massive admission of female applicants in the various educational institutions across any country involved.

African Development Bank Approves $1.5bn to Tackle Food Crisis Emanating from Russia-Ukraine War

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The African Development Bank (AfDB) has moved to tackle the hunger crisis emanating from the Russia-Ukraine conflict. The African Development Bank Group’s Board of Directors on Friday approved a $1.5 billion facility to help African countries avert a looming food crisis.

The impact of the conflict has spiked food prices globally, instigating inflation and urgent need for proactive measures to curtail the rising cost of food. The bank noted that the disruption of food supplies arising from the Russia-Ukraine war puts Africa in a shortage of at least 30 million metric tons of food, especially wheat, maize, and soybeans imported from both countries.

“African farmers urgently need high-quality seeds and inputs before the planting season begins in May to immediately boost food supplies. The African Development Bank’s $1.5 billion African Emergency Food Production Facility is an unprecedented comprehensive initiative to support smallholder farmers in filling the food shortfall,” it said.

Between 2018 and 2020, Africa imported $3.7 billion in wheat (32% of the continent’s total wheat imports) from Russia and another $1.4 billion from Ukraine (12% of the continent’s wheat imports). The AfDB is now looking at diversifying African wheat and other food sources by upping the continent’s farming capacity. The goal is to attain $12 billion increase in food production in just two years.

The Bank said the African Emergency Food Production Facility will provide 20 million African smallholder farmers with certified seeds, increase access to agricultural fertilizers and enable them to rapidly produce 38 million tons of food.

“Food aid cannot feed Africa. Africa does not need bowls in hand. Africa needs seeds in the ground, and mechanical harvesters to harvest bountiful food produced locally. Africa will feed itself with pride for there is no dignity in begging for food…” African Development Bank Group President Dr. Akinwumi Adesina said.

This move follows experts’ calls on African leaders to take proactive measures to mitigate the food shortage impact of the Russia-Ukraine war.

“Many families have been overtaken by hunger, undue inflationary pressure, etc, and we cannot throw a baby away with the bathwater. Helping Ukraine must not bring pain to all nations and I seek for a better strategy because bad things are brooding. I call on the African Union to show leadership urgently. If not, we may fight wars of extreme hunger in coming months, even with no visible military tanks on African streets,” Prof. Ndubuisi Ekekwe, Tekedia Institute, said in a note.

The AfDB said it has been consulting with finance ministers and other stakeholders to facilitate modalities, which includes efficient fertilizer production, to boost food production.

Read the ministers’ agreement and the AfDB’s long-term plan to make Africa food-sufficient below.

The ministers agreed to implement reforms to address the systemic hurdles that prevent modern input markets from performing effectively.

The price of wheat has soared in Africa by over 45% since the war in Ukraine began. Fertilizer prices have gone up by 300%, and the continent faces a fertilizer shortage of 2 million metric tons. Many African countries have already seen price hikes in bread and other food items. If this deficit is not made up, food production in Africa will decline by at least 20% and the continent could lose over $11 billion in food production value.

The African Development Bank’s $1.5 billion strategy will lead to the production of 11 million tons of wheat; 18 million tons of maize; 6 million tons of rice; and 2.5 million tons of soybeans.

The African Emergency Food Production Facility will provide 20 million farmers with certified seeds, fertilizer, and extension services. It will also support market growth and post-harvest management.

The African Development Bank will provide fertilizer to smallholder farmers across Africa over the next four farming seasons, using its convening influence with major fertilizer manufacturers, loan guarantees, and other financial instruments.

The Facility will also create a platform to advocate for critical policy reforms to solve the structural issues that impede farmers from receiving modern inputs. This includes strengthening national institutions overseeing input markets.

The Facility has a structure for working with multilateral development partners. This will ensure rapid alignment and implementation, enhanced reach, and effective impact. It will increase technical preparedness and responsiveness. In addition, it includes short, medium, and long-term measures to address both the urgent food crisis and the long-term sustainability and resilience of Africa’s food systems.

Over the past three years, the Bank’s Technologies for African Agricultural Transformation initiative has delivered heat-tolerant wheat varieties to 1.8 million farmers in seven countries, increasing wheat production by 2.7 million metric tons, worth $840 million.

Long-term sustainability to wean Africa off wheat and other food imports

A five-year ramp-up phase will follow the two-year African Emergency Food Production Facility. This will build on previous gains and strengthen self-sufficiency in wheat, maize, and other staple crops, as well as expand access to agricultural fertilizers.

The five-year phase will deliver seeds and inputs to 40 million farmers under the Technologies for African Agricultural Transformation program.

In April, UN Secretary-General António Guterres appointed Adesina to a select Steering Committee of the Global Crisis Response Group.

The U.S. Senate Appropriations Subcommittee on State and Foreign Operations recently invited Adesina to make a presentation about the African Emergency Food Production Facility.

The Global Alliance for Food Security spearheaded by the Government of Germany provides an excellent forum for the African Emergency Food Program Facility, which is part of a coordinated and collective effort by development partners and countries to accelerate food production in the short term while remaining focused on medium- and longer-term actions to build resilience.

For the Food and Agriculture Resilience Mission (FARM) supported by the Government of France, the African Development Bank (AfDB) is partnering with IFAD and has agreed to be part of the coordination team and steering committee of FARM. The African Emergency Food Program Facility lays out the foundation and complements FARM activities which aims to strengthen local production systems in Africa and reduce food loss to support development of sustainable and resilient food systems.

Embedded Finance, a key to unlocking mass prosperity

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Graduating amongst the top 5% of her class gave Olayinka a sense of accomplishment. She felt on top of the world until subtle insults from her family replaced songs of adornment as she grew dependent on them after struggling to find a job.   

“Sapa, no good o,” she said, while tears rolled her eyes as she lamented to her friend Ope. 

Realizing that tears would not count and the only sensible way forward was entrepreneurship, she took to the street. 

Quickly, she drafted a business plan and organized a team. But in securing a loan she understood that the street also had its woes. 

Drafting up a business plan was not hard, neither was management, her major obstacle off hardship was securing a common loan of 300,000 naira. 

Like Yinka, many Nigerians who have ventured into entrepreneurship- joggling one kind of SME or the other to meet ends need- find it hard to secure working capital. This unpleasant incident has resulted in heavy cash handling as many hardly see the benefits of banks. Thus, relying heavily on direct interaction between customers and sellers- fostering relationships. 

Yet, while handling cash has costly ripple effects, reliance on relationships holds value. These relationships, now enabled by technology, fosters inclusion and strengthen the supply chain. This inclusion has led to non-financial entities offering financial services, which is known as Embedded Finance. 

While not a new ideology, Embedded finance has in recent times become a buzzword. Primarily, it aims to simplify financial service processes for consumers, making it easier for the public to access money- and the related services- they need, anytime, anywhere. (Amosu, 2022). 

It includes the following;  

Embedded payment. This refers to the blending of payment infrastructure to create a seamless payment flow within an app or a platform. Flutterwave is an example of a company that offers such a service, and its most common use is for payment within the ride-sharing app like Uber.   

Embedded Credit. The burden of buying has always created the need for short-term loans, yet all mechanisms to fix this friction seem to be a misfit. Buy now, pay later (BNPL), an example of embedded credit, solves this need.  

This bespoken loan empowers businesses to grow and manage capital as it best suits them. This crediting system also includes Payrolling assistance, as offered by Earnipay, and B2B lending by Tradedepot. 

Embedded Insurance. While many still hold on to the Blood of Jesus as their source of coverage, statistics show that SMEs experience costly accidents, and always struggle to find stability in the aftermath. Embedded Insurance services offered by Curacel and Insurpass make it easy for individuals and businesses to make claims on what is duly theirs. 

While the concept may still be finding its way into the mainstream, if maximized, it can transform an everyday side hustle business into a conglomerate.