News
Ecobank Applauded Over Its Innovative Digital Technology

Experts and industry stakeholders at the Ecobank forum have applauded the banks huge investment in innovative digital technology.
With proper engagement, transparent exchange rate and a pan African Bank such as Ecobank that has innovative digital technology, Nigeria can attract high inflow and volume of Diaspora remittances which can be compared with such countries like India, Israel, Indonesia and others, they say.
Speakers and panelists made the submission during a virtual summit on: “Financial Services & Remittance Solutions for Nigerians in Diaspora: Leveraging Ecobank’s Pan-African offering as the Nation Celebrates 60”.
The webinar which held on Sunday night was part of the Ecobank Digital Series.
Patrick Akinwuntan, Managing Director, Ecobank Nigeria, in his opening speech noted that there was growing evidence that Diaspora remittances was impacting positively on the economies of various countries of the world.
He put the total annual remittances to Nigeria at about $20 billion which he said, contributes hugely to the country’s foreign exchange earnings.
According to him, apart from constant engagement with Nigerians in the Diaspora, the bank is leveraging its digital technology through its Rapidtransfer App and Ecobank mobile App to make it easy and affordable for Nigerians abroad to remit money to their home country.
” Our dedicated Rapidtransfer, mobile remittance app is a game changer for the market. It enables Africans and indeed Nigerians wherever they are to easily and instantly send money to bank accounts, mobile wallets and cash collection in – and across – 33 African countries.
“Historically, the cost of sending cross-border remittances to Africa has been far too high at about 6%-7%. Similarly, the process to send funds has long been inefficient and burdensome, with customers typically needing to go physically to an agent sometimes late in the night or in poor weather with attendant discomfort and risks.
“The Rapidtransfer app remittance solution is a quick, easy and reliable digital solution that removes all of these issues. It is indeed a game-changer for Nigerians and all Africans with its sustainable and standout affordability.”
Ecobank Managing Director further explained that the transaction cost is affordable with the charge from zero to about 3 per cent as compared to 6 – 7 per cent elsewhere, and with instant transfer speed, adding that exchange rate is transparent and compares favourably with others. He added that Ecobank also offers Mortgages, Treasury Bills, Capital market instruments and others.
He submitted that Ecobank was privileged to work closely with the Nigerians in Diaspora Commission, (NIDCOM) and will continue to pursue its mandate of helping to enhance the economic development and integration of Africa, through the 33 countries and two affiliates where the bank operates on the continent.
Participants opined that Diaspora remittances have impacted positively on most economies of the world and therefore challenged financial institutions in the country to explore ways on how they can make it easy and affordable for Nigerians in the Diaspora to send money to their loved ones in the country.
Mrs. Abike Dabiri-Erewa, Chairman/CEO of NIDCOM, who was the Keynote Speaker commended Ecobank for organizing the webinar which she said was very timely and appropriate. He acknowledged that COVID-19 has affected remittances, but a lot could still be done to encourage more inflow in spite of the pandemic.
She challenged Ecobank to lead other Nigerian banks to provide products and services that would encourage Nigerians in the Diaspora to increase their remittances home.
The bank, she said should blaze the trail in engaging with Nigerians in the Diaspora, ensuring proper documentation of remittances, as well as in providing easier and more affordable cost of remitting money to Nigeria.
She regretted that there was currently no proper documentation of remittances inflow into Nigeria from the officially estimated 17 million Nigerians in the diaspora who send money home to take care of their families’ education, health and other needs.
On the ease of doing business in Nigeria, Dabiri-Erewa said it was getting better. She disclosed that the country’s Diaspora Policy was being put together and also working on a Diaspora Trust Fund.
“We also plan to organize a Diaspora Investment Summit very soon and the Commission is currently working with the Federal Mortgage Bank of Nigeria to set up Diaspora Mortgages for interested Nigerians.”
One of the panellists, former Vice Chairman, Board of Trustees Nigerians in Diaspora Organisation Europe (NIDOE), Dr. Bashir Obasekola, said Nigeria in the Diaspora would be encouraged to send money home through the formal channel if the rate is competitive, low charges, transparent exchange rate and the government creating the right investment environment.
He commended Ecobank for the webinar, noting that, most Nigerians abroad are now enlightened on the ease and affordable means of remitting funds home.
Mrs. Korede Demola-Adeniyi, head, Consumer Banking, Ecobank Nigeria, listed the objectives of the webinar to include providing the attendees with access to information on opening accounts online in Naira and other international currencies, information on Ecobank’s bouquet of money transfer services that make it quick and simple for those in the Diaspora to send money to family and loved ones back home in Nigeria.
“This includes the bank’s safe, secure and easy-to-use proprietary solution, Rapidtransfer and the Rapidtransfer App. Other benefits include financial advisory, investment options, financial planning and access to information on BVN Registration.”
She urged Nigerian in the Diaspora to download the Ecobank Rapidtransfer App from Google Play and App store and follow the simple instructions to activate, disclosing that the bank currently offers zero fee on transfers till October 31 this year.
News
Toll Collection on Lagos-Calabar Highway Begins December

Senator David Umahi, the Minister of Works, has announced that a section of the Lagos-Calabar Coastal Highway will be tolled starting in December.
Umahi disclosed this during an interview for a forthcoming State House documentary marking the second anniversary of President Bola Tinubu’s administration.
He said: “By December, we will toll Section 1 of the Lagos-Calabar coastal highway. We project a 10-year return on investment.
“The road has solar-powered lighting and CCTV infrastructure, and offers carbon credit advantages.
“It is more than a road; it is an economic corridor and a catalyst for regional growth.”
According to the minister, 30 kilometres of Section 1 have already been completed, with an additional 10 kilometres in Section 2 nearing delivery. Both segments feature six-lane concrete-paved carriageways, designed to meet modern standards for safety and durability.
Umahi further revealed that construction had commenced on Sections 3 and 3B of the highway, spanning a total of 65 kilometres, covering 38 kilometres in Cross River State and 27 kilometres in Akwa Ibom.
He described the positive response from local communities as a clear indication of the project’s wide-reaching socioeconomic benefits.
“Just days ago, we flagged off Sections 3 and 3B—65 kilometres in total, covering 38 kilometres in Cross River State and 27 kilometres in Akwa Ibom. The host communities’ excitement speaks to these projects’ transformative impact,” he said.
Umahi also highlighted the administration’s renewed focus on the Sokoto-Badagry superhighway, which he noted was part of a broader vision dating back to colonial-era trade plans.
“The Trans-Saharan trade route dates back to colonial-era planning. President Tinubu is now bringing these long-abandoned visions to life,” the minister explained.
News
Kaspersky Uncovers Dero Crypto Miner Spreading via Exposed Container Environments

Kaspersky Security Services experts have identified a sophisticated cyberattack campaign targeting containerized environments to deploy a miner for the Dero cryptocurrency.
The attackers abuse exposed Docker APIs — parts of Docker, an open-source container development platform. In 2025, there are a significant number of Docker API default ports that are insecurely published, accounting for almost 500 occurrences worldwide on average each month.
In the discovered campaign, cybercriminals inject two types of malwares into the compromised systems: one is the miner itself and the other is a propagation malware that can spread the campaign to other insecure container networks.
Kaspersky experts discovered this malicious campaign as part of a compromise assessment project. According to expert estimates, any organisation that operates containerized infrastructure — while exposing Docker APIs without robust security controls — can be a potential target. These may include technology companies, software development firms, hosting providers, cloud service providers and more enterprises.
According to Shodan, in 2025, there are 485 published Docker API default ports¹ worldwide each month on average. This figure illustrates the campaign’s potential attack surface by tallying the “entry points” — or insecurely exposed ports that attackers might target.
Once attackers identify an insecurely published Docker API, they either compromise existing containers or create new malicious ones based on a legitimate standard Ubuntu image. They then inject two malware types into the compromised containers: “nginx” and “cloud”.
The latter is a Dero cryptocurrency miner, while “nginx” is a malicious software that maintains persistence, ensures execution of the miner and scans for other exposed environments. This malware allows attackers to operate without traditional Command-and-Control (C2) servers; instead, each infected container independently scans the Internet and can spread the miner to new targets.
“The campaign has the potential for exponential growth of infections, with each compromised container acting as a new source of attack, if security measures are not immediately put in place in the potentially targeted networks,” explains Amged Wageh, an incident response and a compromise assessment expert at Kaspersky Security Services.
“Сontainers are foundational to software development, deployment, and scalability. Their widespread use across cloud-native environments, DevOps, and microservices architectures makes them an attractive target for cyber attackers. This growing reliance demands organisations adopt a 360-degree approach to security — combining robust security solutions with proactive threat hunting and regular compromise assessments”.
The attackers embedded the names “nginx” and “cloud” directly in the binary — an inflexible executable file composed of instructions and data for the processor, not for humans. This is a classic masquerading tactic that lets the payload pose as a legitimate tool, trying to deceive both analysts and automated defenses.
News
Manager, Others Arraigned for Allegedly Hacking into Premium Trust Bank’s Server

Economic and Financial Crimes Commission (EFCC), on Tuesday, charged five defendants before a Federal High Court in Lagos for allegedly hacking into the server of Premium Trust Bank.
The defendants are listed as the bank’s e-payment service manager, Matthew Adeniyi; Kehinde Odeyemi, a nursing mother; Samson Latshin, Bolaji Omotosho and Sunday Okunnola.
They were charged before Justice Alexander Owoeye, on a six-count charge bordering on conspiracy, cybercrime and unlawful access to the bank’s database.
They, however, pleaded not guilty to the charge.
Mrs. Zeenat Atiku, prosecutor, alleged that they committed the offence between April and May this year, in collaboration with three others, now at large.
Those still at large are Isa Ismaila, Victor Joshua, also known as ‘Oracle’ as well as one other, simply identified as Humble.
According to the charge, the first defendant unlawfully disclosed sensitive credentials, including the bank’s server IP and domain details, to these parties.
She said this enabled an unauthorised access to the bank’s database and the consequent data breach allegedly resulted in financial gains of $10,000.
The prosecutor also alleged that the defendants attempted to intercept the bank’s network and procured a Hewlett-Packard ProBook 440 G9 laptop (serial No. SN#5CD2473N6G) configured to bypass the bank’s security systems.
The anti-graft agency said the alleged offences contravened the provisions of sections 12(1)(b), 27, 28(1)(b)(c) and 28(3) of the Cybercrimes (Prohibition Act, 2015 (as amended in 2024).
Following their pleas, the prosecutor, requested for a trial date and sought an order to remand the defendants in custody.
Meanwhile, the court declined an oral bail by the defence counsel and directed that a formal bail application be filed.
He adjourned the case until June 30, for trial and ordered that the defendants be remanded at the Nigerian correctional centre, pending bail.
The court, however, added that the defence may apply for an earlier trial date, upon filing their bail applications.
- Telecom2 days ago
Celebrating African Creativity: Made by Africa, Loved by the World’ Returns for Its Fifth Year
- E-Financial2 days ago
CBN Introduces AML to Fight Financial Terrorism, Gives Banks Deadline
- E-Financial2 days ago
Peter Obi Denies Secret Meeting with Tinubu over Fidelity Bank
- Broadcasting2 days ago
Luft Pay TV Launches in Lagos, Promises to Revolutionize Entertainment
- General News2 days ago
Over 250,000 Cyberattacks Disguised as Anime – Report
- E-Financial2 days ago
PremiumTrust Bank Reassures Customers of Continued Security after Cyberattack Foil
- E-Financial2 days ago
Fidelity Bank’s N10.5tr assets base reinforces stakeholders’ confidence -Insiders bid for more equity stakes
- E-Business2 days ago
INEC Sets Up AI Division to Strengthen Electoral System