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Telecoms and Jigsaws of Power, Taxes and Security

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The telecommunications industry, arguably the only thriving sector of nation’s economy hobbled by years of mismanagement and neglect is facing uncertain times. Uncertain times from the weights of; poor quality of service (QoS); multiple taxes; vandalisation of telecom equipment; and the notoriously unreliable public power supply. In the midst of the conspiracy threatening to dwarf the achievements of the industry in last ten years, there are assurances of brighter outlook with any concrete underpinning. But despite the assurances, the industry is hanging precariously, only managing with a lot of cosmetics. Beneath the fascia of the industry is the thorny issue of Nigeria’s public power supply, which seems to have defiled all known solution. A situation where telecom operators spend an incredible N45.9 billion (approximately $2.9 Billion) annual bill on diesels in running power supply to their infrastructure is unacceptable. It is unacceptable because the cost is passed to ordinary man. The operating companies are also feeling the pinch as the ordinary man look more and more reluctant to part the little he has. Overall, the industry is in a dire strait and unless something urgent is done to address the power problem, the industry may witness a sharp decline in the coming months. Power supply is like the nerve, in fact, the engine of production. The near absence of public power supply has a devastating effect on businesses and has forced many companies to close shop because they could no longer remain competitive. Admitted that power supply is out of the regulator’s sphere of control but instead painting a rosy picture, the regulator should be speaking of efforts in conjunction with managers of public power supply to prioritize supply to the industry. Elsewhere, the canker worm of multiple taxes by local, state and federal governments and their agencies is threatening the survival of the telecom sector. At last count, the industry estimate they pay over N10 billion annually to various agencies of government. Here, the NCC has done well by drawing attention to the clear and present dangers of multiple taxations in the telecom industry. But the NCC would need to go a step forward and draw from its political will to prevail on the states and local governments to stop insisting on collecting taxes and levies on operators’ infrastructures such as base stations and masts. Also, the problem of insecurity, which has assumed alarming proportions, is discouraging further investments. Added to this, are the constant harassment, intimidation and killing of workers in the industry while equipment are stolen every day. Clearly, the industry still requires investments in network infrastructure to ensure full access across the country, and to guarantee good and acceptable quality of service. But it can only come with the removal of these roadblocks.


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Report Finds 30% More Young Gamers Targeted by Cybercriminals in H1 2024 vs. H2 2023

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The number of unique users targeted by cybercriminals using popular children’s games as a lure surged by 30% in the first six months of 2024 compared to H2 2023, according to Kaspersky experts.

 

Researchers analysed gaming risks for young players and discovered that more than 132,000 users had been targeted by cybercriminals. More details can be found in the latest Kaspersky report on cybercrimes targeting young gamers.

The most exploited children’s games

Kaspersky looked into the threats disguised as popular kids’ video games and analysed the period from July 1, 2023, to June 30, 2024.

Throughout the reported period, Kaspersky security solutions detected more than 6.6 million attempted attacks, where cybercriminals used the brands of the kids’ games as a lure.

Out of the 18 games chosen for this research, the majority of attacks were related to Minecraft, Roblox, and Among Us. According to Kaspersky’s statistics, more than 3 million attempted attacks under the guise of Minecraft were launched throughout the reported period.

Most likely, cybercriminals chose this method of attack based on the popularity of games among players, as well as the ability of gamers to use cheats and mods. Since the majority of mods and cheats are distributed on third-party websites, attackers disguise malware by posing as these applications.

Kaspersky experts believe that the higher success rates detected in 2024 can be explained by the trends observed in the recent developments of the general cyberthreat landscape.

On the one hand, following popular trends, cybercriminals launch more cunning attacks, exploiting the current agenda and crafting less obvious schemes, instead of using generic attacks.

On the other hand, cybercriminals are increasingly using AI to automate and personalise phishing attacks that are more likely to deceive young gamers. At the same time, new advanced phishing kits — pre-made templates of phishing pages — created with automated tools consistently appear on the dark web, allowing an increasing number of attackers to deploy highly effective phishing sites that mimic popular gaming platforms.

Scams on children’s favourite games

One of the most common scams in gaming is the offer to receive new skins for your character — essentially clothing or armor — that enhance the hero’s skills. Some skins are common, while others are extremely rare and, therefore, more desirable.

Kaspersky experts have found an example of a scam that uses both the name of popular game Valorant and that of the world-famous YouTuber Mr. Beast. By selecting this blogger and using his photo, the fraudsters aim to capture children’s attention and hook them into their fraudulent scam.

To receive the desired Mr. Beast skin, young users are asked to enter their login and password for their gaming account, enabling their credentials to be potentially stolen by scammers as a result.

Another popular trap is the offer of receiving in-game currency. In one of the discovered scams exploiting the Pokémon GO brand, users are asked to enter the username for their gaming account. Next, they’re asked to take a survey to prove they’re not a bot.

Once the survey is complete, they are redirected to a fake website, usually one promising free prizes or giveaways. This is where the real scam kicks in.

The scammers aren’t actually after personal data like credit card details; they’re using the guise of gaming to lure users into another hoax — one involving fake downloads, prize claims, or other deceptive offers.

The whole process is a clever way to redirect users to a different, more dangerous scam under the pretense of a legitimate verification step.

“Throughout our research, we see attacks on children are becoming a common vector of cybercriminals’ activities. That’s why cyber hygiene education and the use of trusted cybersecurity solutions are a ’must-have’ in building children’s safety in the online environment.

By fostering their critical thinking, responsible online behaviour, and a strong understanding of the risks, we can create a safer and more positive online experience for this generation of digital natives,” comments Vasily Kolesnikov, security expert at Kaspersky.

 


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NCC, ALTON, MainOne Back Oketola’s Book on Tech Evolution

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Dr. Aminu Maida, Executive Vice Chairman and Chief Executive Officer of the Nigerian Communications Commission, has confirmed his participation as the immediate past Editor of The PUNCH, Dayo Oketola,  launches a book on Information and Communications Technology evolution.

The book, ‘The Catalyst: Nigerian Tech Evolution Through a Journalist’s Lens,’ will be launched on September 17, 2024, at an exaugural lecture to mark the end of Oketola’s time as Editor, The PUNCH and celebrate his nearly 20 years in journalism and leadership practice.

The Head, Media Relations at the NCC, Dr Omoniyi Ibietan, who communicated NCC’s support to the author, said, “It is a consequential work. Congratulations.”

Read Also: NCC Threatens to Fine Telcos over Poor QoS

Similarly, the Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), Engr. Gbenga Adebayo, and the CEO, MainOne, an Equinix Company, Ms. Funke Opeke, have also thrown their weight behind the book launch and exaugural lecture while congratulating the author.

“We would like to express our sincere gratitude for the invitation to your upcoming exaugural lecture and book launch. Congratulations on reaching this significant milestone,” MainOne said in a letter.

Former President Olusegun Obasanjo, GCFR, will be the Special Guest Speaker at the event.

Oketola said the evolution of Nigeria’s telecommunications sector, which began with the introduction of GSM in 2001 by Obasanjo, had attracted over $70bn in investments and created over 500,000 jobs in the country.

He highlighted the bold initiatives that opened the sector to private investment, from 450,000 telephone lines before 2001 to a vibrant market today, and also charts a path through which Nigeria can maximise its digital economic potential.

Oketola, now a senior member of the PUNCH Editorial Board, left as Editor of The PUNCH  in June.

While serving as editor, he won the Editor of the Year prize at the Nigeria Media Merit Awards (NMMA) in December 2023.

He also led the organisation to win the Newspaper of the Year at the same award ceremony.

Oketola, a consistent journalism prizeman, also won Editor of the Year Award at The Industry Awards 2022.

He is a two-time winner of the Zimeo Excellence in Media Awards in Johannesburg 2015 and Nairobi 2016, among numerous awards during his illustrious journalism career.

In a statement, Oketola said, “I am excited to announce the upcoming launch of my book, The Catalyst: Nigerian Tech Evolution Through A Journalist’s Lens, scheduled for September 17, 2024.

“On the same day, I will also be hosting an exaugural lecture to celebrate my tenure as Editor of The PUNCH and nearly 20 years in journalism.”

Speaking further, the former editor described his years in journalism as one that had driven advocacy and impacted different sectors of the economy.

“My 20 remarkable years of stewardship to the nation via media and leadership practices have driven advocacy and impacted areas such as business and economy, ICT, energy, agriculture, social inclusion, anti-corruption, drug trafficking prevention, and nation-building, a testament to the power of journalism in shaping our society,” Oketola remarked.

Read Also: NCC Unveils DMS to Protect Mobile Phone Users

Other influential guests hosted at the media event are a former Chief Executive Officer of MTN Nigeria, Michael Ikpoki, who will chair the occasion, and the Convener of the Centre for Social Media Research, Dr Akin Olaniyan, who will be the book reviewer.

The Minister of Information, Alhaji Mohammed Idris, will grace the occasion as the Chief Host.

Similarly, the Managing Director/ Editor-in-Chief of PUNCH Nigeria Limited, Mr. Adeyeye Joseph, is the host, while the President of the Nigerian Guild of Editors, Mr. Eze Anaba, is the co-host.


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DLM Asset Management Partners Your Study Path on “School is an Asset” Webinar

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DLM Asset Management, a subsidiary of DLM Capital Group, in collaboration with Your Study Path, is excited to announce the “School is an Asset” webinar, scheduled for September 19, 2024.

This engaging virtual event will spotlight the crucial role of education as a foundation for a prosperous future and spotlight the Child Education Plan designed to help parents secure their children’s educational opportunities.

The “School is an Asset” webinar will emphasize that education is not just a path to personal success but a significant investment with lasting benefits for individuals, families, and communities.

As the world evolves, the importance of education in fostering personal and professional growth cannot be overstated. This event aims to inspire students and parents to fully embrace and leverage their educational opportunities.

We are pleased to feature an esteemed lineup of speakers, including Egunjobi Daniel Ololade, CEO of Your Study Path; ThankGod Ojabugbe, Portfolio Manager at DLM Asset Management; Goziem Nancy Idonor, Business Development Manger at DLM Capital Group; and Gbotemi Kolowale, Digital Marketer at DLM Capital Group.

Each speaker will provide valuable insights into the significance of education and discuss the Child Education Plan designed to assist parents in financially planning for their children’s education. Attendees will also have the opportunity to engage with the experts during live Q&A sessions to receive personalized advice and answers to their questions.

The webinar will take place on September 19, 2024, from 11:00 AM (WAT). It will be hosted virtually, and free registration is available here.  Join us for the “School is an Asset” webinar and take an essential step toward securing a brighter future through education.

 


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