News
AMMBAN Berates CAC Over Plans to Enforce POS Operators’ Registration

Association of Mobile Money and Bank Agents of Nigeria (AMMBAN) has berated the Corporate Affairs Commission (CAC) over its move to enforce the directive that point of sale (POS) terminal operators should register with it by September 5, 2024.
Fasasi Atanda, National President of AMMBAN, told Nigeria CommunicationsWeek that the action of CAC is tantamount to contempt of court as the case is in court.
“AMMBAN and CAC are in court over this issue of mandatory registration with CAC. We are surprised that CAC lawyer who is a Senior Advocate of Nigeria can be going the part of contempt of court as the court has ordered that the status quo be maintain.
“Our lawyer has notified the court about this development and have written to CAC that their action of threatening to enforce their earlier directive is pre-judicial. We have also notified law enforcement agencies about the implication of adhering to the request of CAC,” he said.
In a statement released last week by the Commission, the CAC said that it is now working closely with law enforcement agencies and other relevant stakeholders to develop and implement a robust enforcement and sanction framework.
This framework, according to the CAC, will not only target the shutdown of non-compliant businesses but could also involve more severe legal actions against defaulters.
The Commission expressed concern over the low level of compliance by POS operators, despite the large number of such businesses operating across the country.
They also commended those operators who adhered to the directive, noting their responsible approach to formalizing their operations.
“We are to make it clear that the Commission is working with Law Enforcement Agencies and other relevant stakeholders to deploy a comprehensive enforcement and sanction framework that may include not only possible shutdown but other severe legal Consequences,”
However, the Commission criticized what it termed “recalcitrant operators,” many of whom have either refused or failed to comply with the registration requirement.
The CAC suggested that some of these operators might be engaging in “unwholesome activities” or have other undisclosed reasons for resisting formalization.
“As the CAC moves towards enforcement, it urges all unregistered POS operators to take immediate steps to formalize their businesses or face the consequences of their inaction,” the statement concluded.
Recall that in May 2024 the CAC announced that PoS agents have been given a deadline of July 7, 2024, to register their business but later extended it to September 5, 2024.
News
Presidents Mahama, Tinubu Honor Dr. Mike Adenuga on 72nd Birthday

Presidents John Dramani Mahama of Ghana and Bola Ahmed Tinubu of Nigeria have celebrated the Chairman of Globacom, Dr. Mike Adenuga Jr., on the occasion of his 72nd birthday.
In congratulatory messages, both leaders praised Dr. Adenuga’s outstanding contributions to the economic development and growth of both Ghana and Nigeria. They commended his remarkable entrepreneurial spirit, resilience, and commitment to excellence.
President Mahama described Dr. Adenuga’s life as “a shining example of vision, resilience, and extraordinary accomplishment.” He noted that through his entrepreneurial endeavors, Dr. Adenuga has not only built enduring businesses but also contributed significantly to the socio-economic advancement of the African continent.
He noted that Dr. Adenuga’s leadership and philanthropic endeavour remain a beacon of inspiration for generations across Africa.
Also President Tinubu stated that Dr. Adenuga’s humility and diligence have enabled him to succeed in various sectors, including banking, telecommunications, oil, and gas. He praised Dr. Adenuga’s innovative approach to business, citing Globacom’s pioneering per-second billing, which expanded telephony and digital access to millions of Nigerians.
“In addition, Conoil has proven that an indigenous firm can compete with international oil companies, fostering energy independence and security for our country.” He added.
President Tinubu who expressed the gratitude of Nigerians to Dr. Adenuga for his immense contributions to the country’s progress and prosperity, also commended him for extending his investments to other African countries and Europe, “a bold effort which earned you well-deserved honours as Commander of the Legion of Honour (France) and Ghana’s Companion of the Star of Ghana”.
News
Firm Warns Against AI Password Generation @ World Password Day

Most online services and apps require the user to create a password. Chances are many of those passwords are not being used daily and due to this overabundance, there’s a high probability that many of the passwords are being reused.
Poor password management is compounded by a reliance on common combinations of names, dictionary words and numerals. Not only are these passwords relatively easy to decipher, but if a cybercriminal gains access to a password on one site, that could result in access to a plethora of other sites.
People are urged to create unique, random passwords to counter the vulnerability posed by using the same password multiple times. However, password creation and management can be an arduous task.
To tackle the burden of password creation and management, people might be tempted to use large language models (LLMs) like ChatGPT, Llama or DeepSeek to generate their passwords.
The appeal is clear. Rather than struggling to come up with a strong password, users can simply ask AI, “Generate a secure password” and get an instant result.
AI produces strings that look random, which helps avoid the human tendency to create predictable, dictionary-based passwords. But appearances can be deceptive, AI-generated passwords may not be as secure as they appear.
Alexey Antonov, Data Science Team Lead at Kaspersky, tested this by generating 1,000 passwords using some of the more prominent and trusted LLMs including ChatGPT (from OpenAI), Llama (model from Meta group), DeepSeek (newcomer from China).
“All of the models are aware that a good password consists of at least 12 characters, including uppercase and lowercase letters, numbers and symbols. They report this when generating passwords,” says Antonov.
“In practice, though, the algorithms often neglected to insert a special character or digits into the password: 26% of passwords for ChatGPT, 32% for Llama and 29% for DeepSeek. While DeepSeek and Llama sometimes generated passwords shorter than 12 characters.”
In 2024, Alexey Antonov developed a machine learning algorithm to test password strength and found that almost 60% of passwords can be cracked in under an hour using modern GPUs or cloud-based cracking tools.
When applied to AI-generated passwords, the results were alarming, they were far less secure than they appeared: 88% of DeepSeek and 87% of Llama generated passwords were not strong enough to withstand attack from sophisticated cyber criminals. While ChatGPT did a little better with 33% of passwords not strong enough to pass the Kaspersky test.
“The problem is LLMs don’t create true randomness. Instead, they mimic patterns from existing data, making their outputs predictable to attackers who understand how these models work,” notes Antonov.
News
NBS Unveils Crowd-Sourcing Initiative for Accurate Statistical Data

National Bureau of Statistics (NBS) has introduced a crowd-sourcing initiative aimed at providing more accurate statistical information and data to policymakers and the general public.
According to a statement issued by Folorunso Alesanmi, head of Public Relations, the initiative, which commenced several months ago, involves compiling daily price data from a wide range of sources.
These include open markets, supermarkets, neighbourhood shops, bulk and discount stores, street outlets, and large retail shops.
Data collection has been conducted across all 36 States, the Federal Capital Territory (FCT), and every senatorial district.
However, the Bureau clarified that price data gathered through crowd-sourcing differs from the data used in computing the Consumer Price Index (CPI).
While CPI data is collected at specific, pre-determined outlets during the second and third weeks of each month, crowd-sourced price data is gathered randomly from different respondents daily.
By leveraging the power of crowd-sourcing, the Bureau has been able to gather a vast amount of data that offers a more nuanced picture of price trends in the economy.
“We are thrilled to release our first price data compiled through crowd-sourcing. This initiative represents a major step forward in our efforts to harness the power of technology and innovation to improve the quality and timeliness of our statistical data,” said Prince Semiu Adeyemi Adeniran, Statistician-General of the Federation and NBS CEO.
The newly released data offers insights into the prices of essential food items commonly consumed by Nigerians, such as local rice, white beans, white maize, garri, yam, and more. It provides a daily snapshot of food costs.
The NBS plans to update this data on a daily basis, offering entrepreneurs, policymakers, and researchers a valuable tool for monitoring price fluctuations and making informed decisions.
The data is accessible to the public through a dedicated dashboard, where users can view, analyze, and download it in real-time—enhancing transparency and accessibility.
“To this end, the agency has implemented a range of quality control measures, including data validation and verification processes, to ensure that the data is reliable and trustworthy,” the statement added.
The release of this crowd-sourced price data underscores the NBS’s commitment to innovation and collaboration.
By working with citizens and embracing technology, the Bureau aims to provide more timely and accurate statistics to drive economic growth and development
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