E-Business
AFC, SMDF, Other Partner to Boost Nigeria’s Geological Data Capabilities

In a groundbreaking move for Nigeria’s mining sector, Africa Finance Corporation (AFC), the leading infrastructure provider on the continent, the Solid Minerals Development Fund of Nigeria (SMDF), a Nigerian mining-focused development fund, and Xcalibur Multiphysics (Xcalibur), a global leader in airborne geophysics, have joined forces to enhance the landscape of geo-scientific data and geological mapping for early-stage mining projects in Nigeria.
The three institutions signed a Cooperation Agreement yesterday on the sidelines of the ongoing Nigerian Mining Week in Abuja.
The collaboration will pursue initiatives that enhance the availability of Nigeria’s geological data to interested investors across the globe and design an exploration program for mapping the country’s subterranean mineral wealth.
Additionally, AFC, SMDF and Xcalibur will aim to establish a comprehensive database that effectively showcases Nigeria’s resource potential, thus encouraging long-term investment from banks, mining firms, financial institutions, and individuals.
Earlier this year, AFC and Xcalibur signed a joint venture agreement to partner on mapping, developing and co-financing natural resource projects in Africa, and this initiative in Nigeria is an offshoot of the program.
With this tripartite agreement, AFC and SMDF will jointly explore suitable financing solutions, engage with regulators, support relevant government agencies, and facilitate government discussions while Xcalibur contributes technical support, oversees data quality, and conducts economic evaluation studies, including potential biodiversity and environmental mapping.
Commenting on this landmark agreement, Samaila Zubairu, President & CEO of AFC, said, “Nigeria’s abundant natural resources provide a promising foundation for growth and development.
“However, there is currently a limited understanding of the vast underground mineral wealth within the country. In order to address this, our collaboration with SMDF and Xcalibur seeks to significantly improve the availability of high-quality geomapping data.
“This ambitious initiative will not only attract valuable mining investments but also pave the way for the development of critical mineral resources in Nigeria with intentional focus on value capture and retention in line with the minerals value chain policy in the country. Ultimately, our goal is to establish Nigeria as a pivotal player in the global energy transition.”
Fatima Umaru Shinkafi, Executive Secretary and CEO of Solid Minerals Development Fund, said, “Over 90% of Nigeria remains underexplored, with significant potential to discover and increase existing deposits. Increased exploration activity is crucial to realising the benefits of the country’s geological endowment and supporting a pipeline of new projects to market.
“Given that Nigeria accounts for less than 0.5% of the global exploration budget, our partnership with AFC and Xcalibur will act as a stimulus for resource exploration activity, derisk resource exploration in Nigeria, and increase the global appeal of Nigeria as a resource exploration destination.”
“We are thrilled to join forces with the AFC and the SMDF in this groundbreaking project to enhance geophysical data in Nigeria,” said Dario Castellanos, VP Financing and Middle East Director of Xcalibur Multiphysics. ”Our collaboration will bolster the availability of high-quality geophysical data that will attract mining investments and contribute to the development of critical mineral resources in the country.
“We believe that this initiative will be instrumental in establishing Nigeria as a pivotal player in the global energy transition, and we are fully committed to the success of this exciting project.”
Despite being home to 30% of the world’s mineral reserves, Africa receives only 5% of global mining financing. AFC is a significant investor in Africa’s mining sector, deploying over $900 million in critical projects over the last seven years.
The Corporation’s interventions have sought to close the mining sector’s financing gap by deploying its in-house project development expertise and structuring capabilities to support sponsors in derisking projects for bankability.
Recent examples of transformational mining projects in which AFC has invested include the Dynamic Mining Bauxite Mine in Guinea, expected to increase the country’s bauxite production and exports, and the FG Gold Baomahun Gold Project in Sierra Leone, which is expected to contribute significantly to local job creation and sustainable economic development.
E-Business
Microsoft Servers Hacked by Chinese Groups

Chinese “threat actors” have hacked Microsoft’s SharePoint document software servers and targeted the data of the businesses using it, the firm has said.
China state-backed Linen Typhoon and Violet Typhoon as well as China-based Storm-2603 were said to have “exploited vulnerabilities” in on-premises SharePoint servers, the kind used by firms, but not in its cloud-based service.
The US tech giant has released security updates in response and has advised all on-premises SharePoint server customers to install them.
“Investigations into other actors also using these exploits are still ongoing,” Microsoft said in a statement.
The firm said it had “high confidence” the hackers would continue to target systems which have not installed its security updates.
It added that it would update its website blog with more information as its investigation continues.
Microsoft said it had observed attacks in which hackers had sent a request to a SharePoint server “enabling the theft of the key material by threat actors”.
Charles Carmakal, chief technology officer at Mandiant Consulting firm, a division of Google Cloud, told reporter, it was “aware of several victims in several different sectors across a number of global geographies”.
Carmakal said it appeared that governments and businesses that use SharePoint on their sites were the primary target.
A number of adversaries who stole material encoded by cryptography were then able to regain ongoing access to the victims’ SharePoint data, he said.
“This was exploited in a very broad way, very opportunistically before a patch was made available. That’s why this is significant,” Carmakal said.
Carmakal said the “China-nexus actor” was deploying techniques similar to previous campaigns associated with Beijing.
Microsoft said Linen Typhoon had “focused on stealing intellectual property, primarily targeting organizations related to government, defence, strategic planning, and human rights” for 13 years.
It added that Violet Typhoon had been “dedicated to espionage”, primarily targeting former government and military staff, non-governmental organizations, think tanks, higher education, the media, the financial sector and the health sector in the US, Europe, and East Asia.
Meanwhile, Storm-2603 was “assessed with medium confidence to be a China-based threat actor”.
E-Business
NIMC Warns Nigerians of Fake NIN Website

National Identity Management Commission (NIMC) has issued a public warning that it is not associated with NINcard.com.
According to the commission, the website has been circulating online to offer services for Nigerians seeking National Identification Number (NIN) services.
NIMC, in a post on its official X account on Wednesday, said, “NINcard.com is not in anyway affiliated to NIMC. Stay vigilant!”
The warning was accompanied by screenshots of fake payment receipts and OTP request pages from the website, both of which were boldly stamped “FAKE” by NIMC to alert the public.
E-Business
NITDA, API Partner Against Harmful Online Content

National Information Technology Development Agency (NITDA), in partnership with the Advocacy for Policy and Innovation (API), has convened a one-day workshop in Abuja to advance dialogue on the draft Online Harm Protection (OHP) Bill to confront harmful online content.
The bill, a rights-based, locally rooted, and multi-stakeholder initiative, is aimed at addressing the challenges of the digital age.
The event, which held yesterday, brought together government officials, civil society, academics, digital platforms, and legal experts to shape a policy framework designed to combat online ills such as cyberbullying, disinformation, hate speech, digital exploitation, and gender-based violence, while safeguarding democratic freedoms and digital inclusion.
In his keynote remarks, Kashifu Inuwa, director general, NITDA urged a paradigm shift in the way society engages with digital technologies.
“For almost two decades, we have viewed digital technology through a consumer lens. But these technologies are not just products and services. They are transforming how we live, work, and interact. They shape our politics, our society, and our democracy,” he said.
Warning against unaccountable digital power in the hands of private corporations, the DG likened the digital journey to the tale of Alice in Wonderland, where initial fascination with innovation has given way to deeper concerns about privacy, autonomy, and manipulation by big tech platforms.
“We thought we were using Google, but now we realise Google is using us. Social media, once a tool of expression, has become a tool of surveillance and influence,” Inuwa noted.
He, therefore, emphasised the urgency of developing a democratic and accountable framework. He explained that following the 2021 Twitter ban, NITDA facilitated dialogue between the government and platform operators, leading to a Code of Practice that stressed Nigeria’s sovereignty and legal standards.
According to him, the same process birthed the multi-stakeholder steering committee and the OHP White Paper in December 2024, laying the foundation for the current legislative push.
Earlier in her opening remarks, Victoria Manya, co-founder, API, observed the moral and civic necessity of the bill.
Her words: “The internet did not break society, it merely revealed its unfiltered version. Every day, Nigerians are exposed to harassment, disinformation, exploitation, and even algorithmic violence. The OHP Bill is not a war on the Internet. It is a peace offering to its users, a social contract for a digital future that is safe, inclusive, and democratic.
“We cannot answer the question of algorithmic power with unchecked state control. We must answer it with shared, rights-based governance. This bill must not be written for the people, but with them.”
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