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Internet Activities in Nigeria: Ethics and Best Practice
The Internet is those set of networks or machines that uses the Transmission Control Protocol/Internet Protocol suite (TCP/IP), connected through gateways and sharing a common name and address (RFC 1244). The Internet with the capital letter ‘I’ should be carefully distinguished from the internet with small letter ‘i’. The later might not necessarily be built on a TCP/IP protocol and could be a multiple small networks in a campus network (internetwork of networks, shortened for internet)
The Internet was an improvement over the early 1970s ARPANET which had a lot of flaws. Two engineers in the U.S department of defense started working on this modern Internet. Surprisingly, they never knew that what they were working on is going to support the global business, education and totally replicates the entire activities of mankind into bits and bytes.
When the idea of the global network (Internet) that could stand even a nuclear war started germinating in the U.S DoD, people dismisses it as just science fiction. But now the Internet has come to stay. It has come to break every international boundary on earth. A mouse click you are in China, the other in Russia and the other Zanzibar that sort of thing. The Internet has made the world flat, flat in the sense that it has created a favourable environment for people to compete globally irrespective of their locations, race and technological advancement. Whether you are a Russian astronaut aloft in a spacecraft, a Bedouin tribesman in the desert with PDA/cell phone, or a Canadian work –at-home mother with her office in a spear bedroom, you will be able to connect with nearly anything or anybody anywhere. You will be able to participate in telephony, teleconferencing, telecommuting, teleshoping, telemedicine, tele-education, televoting and even telepsychotherapy not to mention a few. I am a practicing network engineer in Nigeria and belong to different networking fora online. A times when I make contributions on these fora, engineers from advance countries clap and even make references to my contributions. Often times, I make contributions on network securities that is even beyond the comprehension of some of these engineers born and practicing in the US. Thank god for the Internet.
For fifteen years and counting, Nigeria has been battling with positioning itself on the Internet. while the developed world have fully integrated into the Internet , from virtual Internet banking, online degree programs, online medical surgery to online home businesses; Nigeria is still lingering with epileptic, expensive and insecure Internet service. Most internet service providers in Nigeria had ran out of business relying on old Vsat technology, and living the meager Internet user in a misery. The sadder story is that the government is not truthfully helping matters.
Two realities stand out from the rest in Nigeria’s IT milieu. Firstly, more than 90 percent of Nigerians are computer illiterate. Secondly, the remaining percentage lacks the awareness to tap the resources on the Internet. Sadly, these percentages are not exclusive of the academic environment. I have met senior professor who cannot open an email address or print a document from the Internet. How then can they learn? what kinds of graduates are these educators going to produce , because a graduate with computer education is ten times more productive than a graduate without a computer education. The people in charge of our society are scared of the computer keyboard; they fear that computer will not let them be in charge. But this reality they most embrace, and it’s the path to changing our society.
I had a time in Onitsha , Asaba, lagos and Benin in southern Nigeria, and I had encountered hundreds of Internet fraudster between the ages 18-20yrs sending scam mails in hundreds of thousands. This is the lifestyle some Internet users in Nigeria have chosen for themselves. Not minding the fact that the western media is blowing this threat out of proportion, this is not good for confidence in e-commerce with Nigeria. For instance, the amount of credit card scam that is going on in China alone is more than that of the whole Africa. China and Russia is harboring some of the most dangerous criminal hackers in the world, they spent time developing criminal software that will enable them hack into your switches to steal money because of their poor economy, though the software developers in Moscow and St.Petersburg get higher payment paralleling those in the UK and the US. But a BBC reporter will be more interested in reporting a scam mail sent by a Yahoo Boy in Nigeria inviting an American business man to deposit some money in an account to help make away with some stolen wealth from a Nigerian government coffer. Foreign entrepreneurs that agree to such offers are also of doubtful characters.
I started working as a server administrator with an Internet café in a university town. I opted for the job because I needed a round the clock access to the Internet. While my co-workers were busy chatting in yahoo messenger looking for romance online, I was busy studying with free simulated online tutorials ranging from networking to e-commerce. After a while, I was making extra money from downloading free software repackaging them and selling them to my clients: collecting viruses, extracting there source codes and mailing them to a network security consultant in Bombay. And also making extra money from downloading and reselling e-books with free resale right. That extra money was seven times my monthly salary.
The activities of Nigerian based scammers (a.k.a yahoo boys) can be stratified based on the type of yahoo boy in question. There are three species of yahoo boys which I call:
Type A, Type B, and Type C
Type A
These types of scammers are moderately determined and given an alternate source of income will rather not engage in such criminal activities.
Type B
These types of scammers are also moderately determined and mostly scam for fun, having to do stuffs like that online fascinates them. They are mostly teenagers from well to do homes.
Type C
These scammers are the most dangerous types; they are criminally minded and have chosen to be bad people even before they had contact with the Internet. The Internet just enable they conduct a stay-at-home-theft and are mostly within the ages of 25-35yrs. These scammers can conveniently speak with more than five international English accents – as an Arab, Indian, Chinese that sort of thing.
70 percent of the scammers in Nigeria falls into the type A group. To them it is just business which they make a living out of. They use this means to send monies to their folks at home as such the some folks sometimes encourage them to sustain the returns. Type B and C are lavish spenders mostly hanging out in rather raucous parties spending on cute women. After expending their take for a couple of months, they go broke and return to their drawing boards (laptops) to restrategise.
Type A scammers being moderately determined average 8-10hrs on a daily basis preying for victims, while the more determine type C average 15-18hrs preying for victims online. The impact of the activities of this scammers on the local economy is minimal as most local entrepreneurs are computer illiterate and don’t agree with online transactions. In fact this has gone a long way in reducing local crime rate on the streets since the crimes now are transportable through the Internet to the advance world which is less risky for scammers.
Their attack methodology
These scammers execute their attacks in phases:
Phase one – Scouting and foot printing
In this stage, they go in search for online chat fora like Myspace, yahoo, facebook etc, romantic forum is a gold mine because they get people dying to get romance online. The age group of their target victims is very important to them. They aim at women between the ages of 35-45 and men within the ages of 45-55 that will be easily carried away by cute looking faces they don’t have courage to approach offline.
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NELFUND Says UTME, NIN, BVN Mandatory for Student Loans
Nigerian Education Loan Fund (NELFUND) has said that Nigerian students will need to present their Unified Tertiary Matriculation Examination registration number (UTME); National Identification Number (NIN); and Bank Verification Number (BVN) to access student loans.
Mr Akintunde Sawyerr, managing director of NELFUND, assured that the body would ensure that those he called ‘ghost students’ would not have access to the soon-to-be-launched scheme.
The MD noted that NELFUND has put processes in place to ensure that all applicants and beneficiaries are traceable to prevent the loan from turning into a sort of national cake.
“We are using technology to run the system. The process of application is online and we are limiting human contact as much as possible. Once you have a Bank Verification Number, BVN and National Identification Number, NIN, which are parts of the requirements, we will have access to your data and all your accounts. This will also help us to know if you are qualified or not,” he explained.
He explained further that those who are already in school can apply for the loan at any level of their study, but must be at the beginning of each session. They would also have to provide their admission and matriculation details in addition to BVN and NIN.
According to the NELFUND boss, about 1.2 million Nigerian students in tertiary institutions and government-recognized skill acquisition centres would be among the first batch of beneficiaries. The number may increase as time goes on.
The programme, he noted, will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS), which will amount to N194 billion if the agency meets its projection.
He explained that the loan would be paid in two segments. The first, he said, is the chargeable school fees which would be paid directly to the institutions while stipend would be paid into individual student’s account for day-to-day upkeep.
Mr. Sawyerr stated that the amount individual applicants will access will vary because of the course of study, school fees payable and geographical location of the institutions among others.
On the method of payback, he said, “You don’t start paying back the loan until two years after your National Youth Service Corps, NYSC Scheme and that is, if you have secured a job or business. A beneficiary can defer repayment if he has not secured a job, but if after due diligence, he defaulted, then he becomes a criminal and we will work with every agency that can help us get the money back, for example, EFCC, ICPC etc.”
News
Sun International Finalizes $14.4M Exit from Nigeria, Sells Interests to RFC
Sun International Limited, run by Anthony Leeming, South African entrepreneur, has agreed to sell its Nigerian interests to Rutam Finance Company Limited (RFC) for roughly $14.4 million.
The move is part of Sun International’s strategy to consolidate operations and focus on key markets. Sun International joined the Nigerian market in 2009, but has struggled in recent years due to a challenging operating climate.
This divestiture is consistent with the company’s strategic objectives and represents a shift in portfolio management.
Sun International, will sell a 43.3 percent ownership investment in Tourist Company of Nigeria PLC (TCN), which manages Lagos’ Federal Palace Hotel, to RFC for $1.875 million.
In addition, the group would pay off its whole $12.675 million credit to RFC, effectively exiting the Nigerian market. The corporation also intends to sell its remaining 6% ownership in TCN in due course.
The transaction, subject to customary closing conditions including as regulatory approvals, is estimated to create a cash inflow of about $14.41 million for Sun International.
These funds will be utilized to reduce debt.
Following the completion of the acquisition, TCN will no longer be included in Sun International’s financial statements.
This will reduce group debt by about $41.82 million, excluding IFRS 16 lease liabilities.
The closing is scheduled for no later than May 28, 2024, provided that all usual closing conditions are met. The Nigerian Competition Authority, the Securities and Exchange Commission, and the Nigerian Stock Exchange have all provided key clearances.
Sun International, founded in 1968 by the late Sol Kerzner, has grown into a renowned gaming and resort company under Leeming’s leadership.
In fiscal 2023, the company’s revenue increased by 7% to $646.14 million, while headline earnings increased by 86 percent to $55.35 million.
This demonstrates Sun International’s resiliency and strategic direction. Sun International’s pullout from Nigeria demonstrates the company’s dedication to streamlining its portfolio and pursuing growth possibilities in key areas.
With a rich history and a focus on the future, this transaction demonstrates the company’s commitment to create wealth for shareholders and stakeholders while also strengthening its position in the gaming and hospitality industries.
News
Sam Darwish, US-Nigerian Businessman Suffers $6m Loss as IHS Shares Plunge
Sam Darwish, a US-Nigerian telecom entrepreneur, has experienced a huge financial setback in his holding in IHS Holdings following a recent drop in the shares of the top telecom infrastructure company on the New York Stock Exchange (NYSE).
According to data, Sam Darwish’s investment in IHS Holdings has lost $6 million in market value during the last 13 days. This drop reflects increasing selling pressure among NYSE investors.
From March 12 to 30, Darwish’s investment in IHS Holdings increased from $35.17 million to $49.27 million, resulting in a $14 million gain.
Darwish founded IHS Holdings in 2001, and it has since grown to become the largest telecom infrastructure business in Africa, Europe, Latin America, and the Middle East.
It is renowned for its huge tower count and is the world’s third-largest independent international tower firm.
In the last 13 days, IHS Holdings shares on the NYSE have dropped by 11.72 percent, from $3.67 on April 3 to $3.24 at the time of writing.
As a result, the company’s market capitalization has dropped below $1.1 billion, causing significant losses for stockholders.
As chairman and CEO of IHS Holdings, Sam Darwish holds a critical position in African telecom.
With a strong 4.17 percent ownership holding, equivalent to 13,958,158 ordinary shares, he is a key participant in the global telecom infrastructure business.
The recent double-digit loss in IHS Holdings shares has resulted in a $6 million decrease in the market value of Darwish’s shareholding in the top telecom infrastructure company. His shareholding has decreased from $51.23 million on April 3 to $45.22 million.
Despite this defeat, Darwish remains an important figure in the worldwide telecom business.
IHS Holdings’ extensive tower network and smart acquisitions have secured its position as a major participant in the global telecom infrastructure sector.
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