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Insurance Operators Adopt Technology for Seamless Operations, Access to Customers

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Insurance sector operators said they have invested heavily in acquiring technology that will make their operations seamless and accessible to customers through the introduction of dedicated platforms.

They have also announced a USSD code*555*11# that enables motorists check and verify authenticity of their motor insurance certificates. The insurers have also launched a website where all operators and agents are expected to upload the details of their motor insurance policy issued for record keeping and authentication.

Consequently, they said any motor insurance policy that could not be verified on the NIID portal is not authentic – even if it was bought from an insurance company.

Mrs. Yetunde Ilori, the Director General, Nigeria Insurers Association (NIA), stated this while addressing the media on the need for insurance buyers to ascertain the authentication or not of insurance certificate they hold.

She said policyholders must ensure the authenticity of their policies so that when claims occur, they could be compensated adequately.

She insisting that compensation could not be paid to those with fake motor insurance certificates whose status could not be ascertained on the NIID platform.

She said with the recent upward review of the premium rates for motor insurance by the National Insurance Commission (NAICOM), which took effect January 1, 2023, vehicle owners were entitled to enhanced compensations.

She gave instances of the various premium and claims attached on vehicle insurance adding that third party insurance premium rate for private motors is now N15,000 while the claims limit is N3 million; “Own goods third party premium N20,000 with N5 million compensation; Staff bus N20,000 premium with N3 million compensation; Commercial (trucks, general cartage) N100,000 premium with N5 million compensation; Special types N20,000 premium with N3 million compensation; Tricycle N5,000 with N2 million compensation; while Motorcycle has N3,000 premium with N1m compensation.”

The NIA DG said, “the policyholders whose vehicle insurance details had been uploaded on the NIID can check their motor insurance policy status by our website or by sending Short Messaging Service (SMS) to the USSD code *565*11# on any mobile phone with with or without internet access.   You could enter your Vehicle Number or Insurance Policy number to confirm its authenticity. Once your particulars are entered, the result will appear right in front of you.”


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NDPC Partners Adeoluwa, Digital Influencer on Protection Awareness

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Nigeria Data Protection Commission (NDPC) has taken a significant step forward in its mission to promote data protection and privacy awareness in Nigeria by signing a Memorandum of Understanding (MoU) with Enioluwa Adeoluwa, renowned social media influencer.

NDPC Partners Adeoluwa, Digital Influencer on Protection Awareness

L-r: Enioluwa Adeoluwa, renowned social media influencer andDr. Vincent Olatunji, national commissioner, NDPC, at the signing of the MoU

This partnership aims to harness the power of social media to educate Nigerians on the importance of data protection and privacy.

The MoU, which will last for six months and is subject to renewal, is also aimed at creating a safer digital landscape for all Nigerians.

Speaking in Abuja, Dr. Vincent Olatunji, national commissioner, NDPC, stressed that with over 40 million Nigerians using social media daily, data protection and privacy have become crucial concerns.

He noted that this number highlights the immense importance of safeguarding personal information in Nigeria’s digital landscape.

“The Nigerian government is really taking this up to ensure that Nigerians are protected. More importantly, we know that about 40 million Nigerians go online every day, which is significant considering there are about 120 million people in total. That is huge. For this reason, we have to ensure adequate measures for safety to safeguard the data within our country.

“And Nigerians know their rights under the Nigeria Data Protection Laws and understand the kind of measures they need to implement to protect their data,” he stated.

Dr. Olatunji explained that the MoU was signed to increase awareness about data protection and privacy in Nigeria, helping individuals understand their privacy rights and ensuring that data controllers and processors are aware of their obligations.

The National Commissioner emphasised that, with Enioluwa’s social media following, this partnership will aid in educating the public about the Commission’s mandate and in advancing its roadmap for awareness creation.

“This partnership with Enioluwa Adeoluwa marks a significant milestone in our efforts to promote data protection and privacy awareness in Nigeria. We believe that social media has the power to shape public discourse and influence behaviour, and we’re excited to leverage this platform to drive positive change,” Olatunji said.

On his part, Adeoluwa emphasised that his motivation for collaborating with the Commission is not driven by financial gain, but rather by a desire to contribute meaningfully to Nigeria’s development. He encouraged more young people to participate in nation-building to ensure that Nigeria can become great again.

The Nigeria Data Protection Act, which established the Commission, was signed into law on June 12, 2023, by President Bola Tinubu.

Since then, the Commission, led by Dr. Olatunji, has been working actively to ensure that every Nigerian understands his or her privacy rights.

The Commission’s mandate includes protecting the rights of data subjects, promoting data protection best practices, and ensuring compliance with data protection regulations.

 

 

 

 

 


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How to Choose the Best Site to Convert BTC to Naira: The Key Features to Consider

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Converting Bitcoin (BTC) to Naira has become increasingly popular in Nigeria, and choosing the right platform for this task can make a big difference in maximising your returns while keeping your funds secure.

With numerous options available, it’s essential to know which features set a great BTC-to-Naira conversion site apart from the rest. This guide breaks down the key features you should look for and includes a trusted recommendation: Breet.

Key Features to Consider When Choosing a Site to Convert BTC to Naira

1. Security and Trustworthiness

Security should be the top priority when choosing a BTC-to-Naira conversion platform. A reputable site should have strict security measures, such as SSL encryption, two-factor authentication (2FA), and continuous monitoring for suspicious activity. To ensure the platform’s legitimacy, verify that it’s licensed or regulated.

2. Conversion Rates

Getting the best possible conversion rate means more Naira in your pocket. Rates can vary across platforms, so it’s worth comparing them to get the most value for your BTC. However, be mindful of platforms that advertise unusually high rates, as they may come with hidden fees or tricky terms.

Quick Tip: Pay attention to the platform’s fee structure. Some may charge a flat fee, while others take a percentage, which can significantly impact your earnings.

3. Transaction Speed

In the fast-paced world of cryptocurrency, timing is crucial. A platform that offers quick processing times can help you secure the rate you want and avoid delays due to market fluctuations. Some platforms offer instant transactions, which is ideal if you need immediate access to your funds.

Pro Tip: If speed is a priority, look for platforms with a reputation for quick confirmation times and real-time processing.

4. Ease of Use

Not everyone using a BTC-to-Naira service is a crypto expert, so an intuitive interface can make the process stress-free. A clean, user-friendly layout ensures you can navigate the site or app with ease, regardless of your crypto experience.

Bonus Tip: A mobile app can be a game-changer, allowing you to convert BTC to Naira from anywhere, anytime. Don’t forget to check for accessible and responsive customer support, as they’ll be crucial if you have questions or run into issues.

5. Payment Methods Available

The best BTC-to-Naira platforms offer direct Naira bank transfers, which allow you to receive your funds without hassle. Verify if the platform has daily or weekly withdrawal limits that fit your intended transaction size. This ensures you won’t run into unwanted restrictions when it’s time to withdraw your funds.

6. Transaction Fees and Limits

Be sure to check each platform’s transaction fees. A flat fee might be more beneficial for smaller transactions, while a percentage-based fee might be better for larger transfers. Additionally, make sure the withdrawal and daily limits meet your needs.

7. Reputation and Community Trust

Word of mouth and community endorsement go a long way in the crypto world. Platforms with high ratings from seasoned users in forums or social media groups are often reliable. Look for transparency in their terms and policies, and be cautious of any red flags, such as rates that seem too good to be true or a lack of user reviews.

Recommended Site to Convert BTC to Naira: The Breet App

After reviewing several options, Breet stands out as a highly recommended site to convert 1btc to naira today. Here’s why:

  • Competitive Rates: Breet offers competitive conversion rates with no hidden fees, so you know exactly what you’re getting.
  • Zero Trading Fees: Breet doesn’t charge a transaction fee, so you can perform as many transactions as you want, all at no cost to you.
  • Instant Naira Payouts: The platform ensures fast, direct payouts to your Nigerian bank account, making it ideal for those who need immediate access to their funds.
  • User-Friendly Experience: Breet’s interface is intuitive and designed with all users in mind. It’s simple enough for beginners and robust enough for advanced users.
  • Community Trust: Known for transparency and reliability, Breet is well-regarded in the Nigerian crypto community and is backed by excellent customer support.

How to Convert BTC to Naira on the Breet App

Ready to convert your BTC to Naira on Breet? Here’s a simple step-by-step guide to get you started:

  1. Register & Verify: Download the Breet app, sign up, and complete verification for secure access.
  2. Check Rate & Confirm: View the btc to naira rate. If satisfied, proceed with your sale.
  3. Deposit Bitcoin: Transfer your Bitcoin to your unique Breet wallet address by copying it or scanning the QR code.
  4. Transaction Processing: Breet will detect and automatically process your transaction once it’s confirmed on the blockchain.
  5. Receive Naira: Your Naira balance updates instantly, ready for quick withdrawal—no delays or extra steps.

Conclusion

Selecting the best platform for converting BTC to Naira requires careful consideration of essential features, such as security, conversion rates, transaction speed, ease of use, and payment options. Breet is a trusted option for those who value simplicity, speed, and competitive rates.

For those new to converting BTC or seasoned traders looking for reliability, Breet offers a comprehensive solution that’s secure, convenient, and transparent. Try Breet today, or use our checklist above to find the platform that best suits your needs.

 


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Firm Identifies Key Signs of AI Usage in Phishing Attacks

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Cybercriminals are increasingly using Large Language Models (LLMs) to generate content for large-scale phishing and scam attacks, Kaspersky’s AI Research Center experts have discovered.

As threat actors attempt to generate fraudulent websites in high volumes, they often leave behind distinctive artifacts – such as AI-specific phrases – that set these sites apart from those created manually. So far, most phishing examples observed by Kaspersky target users of cryptocurrency exchanges and wallets.

Kaspersky experts analysed a sample of resources, identifying key characteristics that help distinguish and detect cases where AI was used to generate content or even entire phishing and scam websites.

One of the prominent signs of LLM-generated text is the presence of disclaimers and refusals to execute commands, including phrases such as “As an AI language model…”. For instance, two phishing pages targeting KuCoin users contain this type of wording.

Another distinctive indicator of language model usage is the presence of concessive clauses, such as: ‘While I can’t do exactly what you want, I can try something similar.” In other examples targeting Gemini and Exodus users, the LLM declines to provide detailed login instructions.

“With LLMs, attackers can automate the creation of dozens or even hundreds of phishing and scam web pages with unique, high-quality content,” explains Vladislav Tushkanov, Research Development Group Manager at Kaspersky. “Previously, this required manual effort, but now AI can help threat actors generate such content automatically.”

LLMs can be used to create not just text blocks but entire web pages, with artifacts appearing both in the text itself and in areas like meta tags: snippets of text that describe a web page’s content and appear in its HTML code.

There are other indicators of AI usage in creating fraudulent sites. Some models, for instance, tend to use specific phrases like “delve”, “in the ever-evolving landscape”, and “in the ever-changing world”. While these terms are not considered strong indicators of AI-generated content, they may still be viewed as signs.

Another feature of text generated by a language model is the indication up to which the model’s knowledge of the world extends. The model typically articulates this limitation using phrases such as “according to my last update in January 2023”.

LLM-generated text is often combined with tactics that make phishing page detection more complicated for cybersecurity tools. For instance, attackers may use non-standard Unicode symbols, such as those with diacritics or from mathematical notation, to obfuscate text and prevent matching by rule-based detection systems.

“Large language models are improving, and cybercriminals are exploring ways to apply this technology for nefarious purposes. However, occasional errors provide insights into their use of such tools, particularly into the growing extent of automation. With future advancements, distinguishing AI-generated content from human-written text may become more challenging, making it crucial to use advanced security solutions that analyse textual information along with metadata, and other fraud indicators,” said Vladislav Tushkanov.


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