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General News

Local Content Plan will Boost Domestic OEMs – Onawola

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Bolarinwa Onawola, is chief operating officer, Brian Integrated Systems Limited,
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Bolarinwa Onawola, is chief operating officer, Brian Integrated Systems Limited, a 100% owned Nigerian company with a factory for the assemblage of high quality and reliable its branded desktops, laptops, netbooks and classmate computers.
It recently launched a Windows Tablet in partnership with Intel & Microsoft.
Onawola spoke to peter ugwu on Brian’s plan for mobile devices market, among other industry issues. 

OEMs in Nigeria
The main thing is that Nigerians are still after foreign brands, not minding that there are competitive brands developed locally by Nigerians.
That has been an undoing to the original equipment manufacturers. We should consider the fact that before those brands enter our markets; they usually look at their own market.
But we are not deterred by that. We are rolling out and it is our believe that the local content drive of the Ministry of Communication Technology, the policies, programmes and deliberate actions been taken will help push locally made IT equipment into the market.

OEMs and Low Standard Products
Nigerians should know that gone are the days any company would want to gamble with its fortunes. Recently, I was in a conference organized by the Standard Organization of Nigeria (SON), we were discussing issues relating to standards and how the gap can be bridged.
With what SON said, I think they are working towards ridding the market of fake standards. As a company you wouldn’t want to be caught napping; meeting the standard is a must, if you want to sustain your business in the contemporary business world.
SON was at our lab few days ago, to assess our products and processes and we got top rating for it. No doubt, there are still some sub-standard good in Nigeria, but the level such good penetration in the market is being checkmate.

Local Manufacturing
Presently, we assemble computer products. However, we are working towards building a world class factory in a short period, where we can manufacture the computer components in Nigeria.
 It will take the market by surprise; although there are others who could boost of that already, but we are looking at a plant that will drive employment generation in the country, and add value to the country’s economy too.
There are challenges why companies actually delay in setting up plants in the country. The issue of power is still there, multiple taxations, but what we are thinking is that partnership is a good idea for businesses to grow, however, for the countries that produce these products, how did they get started.
They started from somewhere; basically from research and development. We need to put more resources and drives towards research and development.
A wealthy country is not the one that consumes, rather the one that produces. In the case of Brian, that is what we intend to achieve. We want to produce locally, for us and others. Our drive is to start in Nigeria and take such Nigerian brand to other parts of Africa. For us to do that, we need to invest heavily in research. We have mentors we need to follow for guidance.

R&D in Nigeria
Let me start by reminding us that oil and gas market is pass through a phase that it might not rise to compete with IT on the global market.
How do I mean, IT now provides the currency for any nation to measure in the global competitive market. To diversify our economy means infusing IT into the facets of the economy. Unfortunately, we are not doing enough as regards R&D.
We are not there yet. Until we realize that no country succeeds consuming, we will not get there. It might be capital intensive, but we need to put in the capital now. Today is the right time to invest on developing the R &D for the sake of the future generation.

Software Industry
India today has not drip of oil, but the Software market is worth over $70 billion per annum. We need to wake up to the fact that the IT industry is a big industry. I see it as becoming bigger than the oil and gas, both in the global and local scenes.
While oil is dwindling, IT is just increasing. Of course, in the early 20th Century, you didn’t get to hear about students in the Universities studying building applications, but now they do. It is a step in the right direction, but all we need to do is that, not just the government, rather collective measures to encourage the youths.
We need specialized courses tailored into developing apps. Recently, I was in a commercial bus and besides me was a lady. Before she boarded, as the bus was approaching the bus stop she was penning something down. When she joined us, she continued. That got me thinking; I was able to understand that she was putting pen on paper regarding an application the team was working on; the processes to develop the apps. That tells you the resilience of an average Nigerian youth.
People are beginning to tap into that area of ICT sector. All we need to do as a nation is to encourage them. We have the human resources to achieve whatever we want to achieve in the sector.
We need to start experimenting theories we have heard all these years. It is unacceptable that a Computer Science graduate he might not know the rudiments of Computer Science. I think our school curriculum should be reviewed to the school curriculum to catch the youths at their prime age and tailor their minds to the happenings in the ecosystem.

Why Brian Tablet?
We wanted a device that is portable and everybody can recognize and go along with; a device that will give user comfort even while in office, because it suites their work.
Through that, it makes increases the productivity level of the users. It also enables people to play due to the fact it has a combination of work and pleasure. These happen even on the go.

Differentiating Brian Tab from Others
Apart from the fact that it supports users to be productive, there are salient features in it. The RAM is 2GB, the memory size is 32GB and expandable to 64GBs.
It comes with Bluetooth, keyboard, that makes the operating very easy. You might want to detach it or use it together with the magnetic keyboard and it stands.
With the HDMI, you do not need to move about with your projector. The tab is built that you can have a seamless presentation with it. All you need to do is connect the HDMI cord to an enabled HDMI television or device and it comes live.
Another salient feature we considered will building the tablet, we thought people will have the need to print any document developed or downloaded into the device, without necessarily transferring it to anywhere such as flash drive.
We were able to achieve that, you can be able to print from any printer through the device. We made provision for a port and the connecting cable; anything that has USB port will work perfectly with it.

Market Penetration Drives
Since Nigeria is our home, for now, we need to start from here. But I can tell you that we are looking beyond the shores of the country.
We are studying the African markets and will penetrate those markets as the needs rise. By then, we have seen the good news and how it works.
At the moment, we are not relenting in making sure it becomes a well known brand and device. And I can confirm to you that there is no part of the country we are not gaining ground. We are moving from both in the corporate, industry; penetrating educational institutions too.

Partnership with Intel & Microsoft
What we wanted is a sector that is IT driven. We are moving into schools to register our strong presence, because the educational institutions are working towards IT compatibility.
To achieve that, we need giants in the industry to work with. Intel and Microsoft are global brands that are relevant to what we are doing based on their operational principles.
So, we do not want the teachers be left out, because this is a generation where students are getting smarter due to the obvious reasons of availability of smart devices that are internet enabled.

E-Learning Pack
That is one of the peculiarities we are pursuing, e-learning. We have a locally tailored application called C-fox that can be used by teachers and students alike. It has recommended courses which makes it easier for users to teach or learn. 

Brian Initiatives in The Market
We started from the desktops to laptops and then now to Windows tablet. The name Brian is a known brand, because we started from the days of old with our branded laptops, desktops and we are following the dynamics of the market.
Now, everybody is going micro; they want something small they can go along with, not necessarily to large that they need to drop it somewhere to operate. That has impacted our current line of products. And we are looking at the peculiarities of this environment. For instance, the Windows Tablet, the battery life is eight hours.
Power is still an issue in our environment, and here is a device that you can be able to use when you want to use it. So, we have positioned the battery lifespan to last longer; you can work, go on break, and resume, with the device being there for you.

 


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General News

Firm Explores the Evolution of AI-powered Ransomware with Password-gated Capabilities

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Kaspersky experts have revealed the inner workings of FunkSec — a ransomware group that illustrates the future of mass cybercrime: AI-powered, multifunctional, highly adaptive and operating on volume with ransoms as low as $10,000 to maximise profits.

Kaspersky’s Global Research and Analysis Team (GReAT) constantly monitors the ransomware threat landscape, where attacks continue to rise. According to the company’s latest State of Ransomware report, the share of users affected by ransomware attacks worldwide increased to 0.44% from 2023 to 2024, up by 0.02 percentage points.

While this percentage may appear modest compared to other cyber threats, it reflects the fact that attackers typically prioritise high-value targets rather than mass distribution, making each incident potentially devastating. Within this evolving landscape, FunkSec has emerged as a particularly concerning threat.

Active for less than a year since its emergence in late 2024, FunkSec has quickly surpassed many established actors by targeting government, technology, finance and education sectors. What sets FunkSec apart is its sophisticated technical architecture and AI-assisted development.

The group packages full-scale encryption and aggressive data exfiltration into a single Rust-based executable, capable of disabling over 50 processes on victim machines and equipped with self-cleanup features to evade defenses.

Beyond its core ransomware functionality, FunkSec has expanded its toolkit to include a password generator and a basic DDoS tool — both showing clear signs of code synthesis using large language models (LLMs).

FunkSec’s approach reflects the evolving landscape of mass cybercrime, combining advanced tools and tactics. Kaspersky’s GReAT experts highlight the key features that define their operations:

Password-Controlled functionality

GReAT experts discovered that FunkSec ransomware features a unique password-based mechanism that controls its operation modes. Without a password, the malware performs basic file encryption, while providing a password activates a more aggressive data exfiltration process in addition to encryption to steal sensitive data.

FunkSec packs full-scale encryption, local exfiltration and self-cleanup into a single Rust binary—without a side-loader or a companion script. That level of consolidation is uncommon and gives affiliates a plug-and-play tool they can deploy almost anywhere.

Use of AI in development

Code analysis shows that FunkSec is actively using generative artificial intelligence to create its tools. Many parts of the code seem to be automatically generated rather than manually written. Signs of this generic placeholder comments (such as “placeholder for actual check”) and technical inconsistencies, like commands for different operating systems that don’t align properly. Additionally, the presence of declared but unused functions—such as modules included upfront but never utilised — reflects how large language models combine multiple code snippets without pruning redundant elements.

“More and more, we see cybercriminals leveraging AI to develop malicious tools. Generative AI lowers barriers and accelerates malware creation, enabling cybercriminals to adapt their tactics faster.

By reducing the entry threshold, AI allows even less experienced attackers to quickly develop sophisticated malware at scale,” comments Marc Rivero, Lead Security Researcher at Kaspersky’s GReAT.

High-volume, low-ransom strategy

FunkSec demands unusually low ransom payments, sometimes as little as $10,000, and pairs this with the sale of stolen data at discounted prices to third parties. This strategy appears designed to enable a high volume of attacks, helping the group quickly establish its reputation within the cybercriminal underground. Unlike traditional ransomware groups that seek million-dollar ransoms, FunkSec employs a high-frequency, low-cost model — further underscoring its use of AI to streamline and scale operations.

Expands beyond ransomware

FunkSec has expanded its capabilities beyond the ransomware binary. Its dark leak site (DLS) hosts additional tools, including a Python-based password generator designed to support brute-force and password-spraying attacks, as well as a basic DDoS tool.

Advanced evasion

FunkSec employs advanced evasion techniques to avoid detection and complicate forensic analysis. The ransomware is capable of stopping over 50 processes and services to ensure thorough encryption of targeted files. Additionally, it includes a fallback mechanism to execute certain commands even if the user launching FunkSec lacks sufficient privileges.

 


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IMF Raises Nigeria’s 2025 GDP Growth Forecast to 3.4%

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International Monetary Fund (IMF) has projected a 3.4 percent expansion in Nigeria’s real Gross Domestic Product (GDP) for 2025, following the conclusion of its annual Article IV consultation with the country.

The IMF announced the forecast in a statement on Wednesday, highlighting progress in macroeconomic reforms while cautioning about persistent vulnerabilities.

The Article IV consultation is a regular assessment of a country’s economic performance and policy framework by the IMF’s executive board. The latest review reflects cautious optimism about Nigeria’s economic trajectory amid ongoing reform efforts.

According to the IMF, Nigeria’s growth in 2024 reached 3.4 percent, mainly driven by increased hydrocarbon production and a robust services sector. However, agricultural output remained subdued due to security challenges and falling productivity.

The IMF expects the positive momentum to continue into 2025, supported by the start of operations at a new domestic refinery, higher oil production, and sustained performance in services. It projected that medium-term growth would remain around 3.5 percent, buoyed by domestic reforms despite an uncertain global environment.

“The Nigerian authorities have implemented major reforms over the past two years which have improved macroeconomic stability and enhanced resilience,” the Fund stated. “The authorities have removed costly fuel subsidies, stopped monetary financing of the fiscal deficit, and improved the functioning of the foreign exchange market.”

The IMF said investor confidence has improved, noting Nigeria’s successful re-entry into the Eurobond market and the resumption of portfolio inflows. However, it acknowledged that poverty and food insecurity have worsened, pushing the government to prioritize inclusive growth.

The report also highlighted positive trends in external reserves, foreign exchange market stability, and inflation. It noted that inflation dropped to 23.7 percent year-on-year in April 2025 from an annual average of 31 percent in 2024, based on the rebased Consumer Price Index released by the National Bureau of Statistics.

“Naira stabilization and improvements in food production brought inflation to 23.7 percent… Inflation should decline further in the medium-term with continued tight macroeconomic policies and a projected easing of retail fuel prices,” the IMF said.

On the fiscal front, the Fund said revenue gains from currency depreciation, improved administration, and higher grants helped offset rising interest payments and administrative costs, leading to improved fiscal performance in 2024.

Despite the progress, the IMF warned of growing risks. It said falling global oil prices or rising financing costs could negatively impact Nigeria’s economic stability. “A further decline in oil prices or increase in financing costs would adversely affect growth, fiscal and external positions, undermine financial stability and exacerbate exchange rate pressures,” it said.

The IMF further cautioned that any deterioration in domestic security could derail growth and worsen food insecurity across the country.


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AfCFTA Opens Opportunity for Logistics Sector

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The African Continental Free trade Area (AfCFTA) has created an opportunity for truckers, airlines and other players in the logistics and transportation sector.

About 2.2 million trucks, valued at $345 billion, will be needed for trade facilitation under the AfCFTA between now and 2045, according to the African Export-Import Bank (Afreximbank).

Similarly, 243 aircraft, valued at $25 billion, will be required, with 169,000 rail wagons estimated at $36 billion needed for the continental trade.

Also, more than 130 vessels, valued at $4 billion, will be required to trade under the AfCFTA, Afreximbank said.

“Road, rail, air, and maritime infrastructure are inadequate,” said Gain more Zanamwe, director of trade facilitation and investment promotion, Afreximbank, said at a roadshow in Lagos on Monday.

“Most of the intra-African trade – about 77 percent – is done by road, and this needs to change,” he further said.

He noted that Nigeria is not playing in vehicle market due to a cacophony of poor policies.

“I have had conversations with original equipment manufacturers (OEMs). They said why they are not in Nigeria is because of lack of a comprehensive auto policy. If Nigeria fixes the policy, the country can surpass what South Africa is doing,” he noted.

The AfCFTA creates access to a market of 1.4 billion people or $3.4 billion. It also provides an opportunity for Africans to trade with each other and tap from continent’s resources.

Africa’s trade with each other stands at merely 15 percent as against Europe’s 60 percent -70 percent, Asia’s 50 percent -60 percent and North America’s 40 percent.

“We need an ‘Africa-First mentality,” said Kanayo Awani, executive vice president, intra-African trade and export development, Afreximbank, stressing the need for Africans to deepen trade with each other.

The World Bank says the AfCFTA offers a promising opportunity to revive stagnant investment and development.

According to World Bank research, fully implementing the AfCFTA Aagreement could drive intra-Africa FDI by 68 percent and external investment by 122 percent.

“But the devil is in the details: to achieve these gains, countries need to implement the AfCFTA Agreement and its protocols, including the Investment Protocol.

“Drawing on regional integration successes in the Association of Southeast Asian Nations (ASEAN) and the European Union (EU), we know it is imperative to proactively initiate and organize efforts to implement investment reforms,” the World Bank noted.

Nonye Ayeni, chief executive of the Nigerian Export Promotion Council (NEPC), said Africa needs to move beyond the fragmented trade units existing today. She said a nation like Nigeria must begin to produce to export to Africa’s large market.

“Everything needed to produce electric cars could be obtained here. From lithium to rubber, we do not need to import them. We have the tool to bridge the trade gap through collaboration, commitment and cooperation.”

Nigeria’s non-oil export sector recorded a 24.75 percent increase in the first quarter (Q1) of 2025, compared to the same period in 2024.

Non-oil products valued at $1.791 billion were exported between January and March 2025, up from $1.436 billion in the first quarter of 2024.

Cocoa beans accounted for 45.02 percent of total non-oil exports, while urea/fertilizer ranked second with 19.32 percent, with cashew nuts coming third with 5.81 percent.

However, these are agro-based products and insignificant when compared with other emerging markets.

Bangladesh’s exports hit $50 billion in 2024, driven by manufactured goods such as ready-made garments (RMG), jute and jute products, frozen fish and seafood, and leather and leather products, official data said.

Vietnam achieved a record export turnover of $405.53 billion, representing a 14.3 percent increase compared to the previous year.

Malaysia’s exports rose by 4.8 percent to $263.1 billion in 2024, with manufactured goods accounting for 86 percent of its total exports, , according to the nation’s MATRADE.

“It is time we began to think of what we can sell. What value chain can I play in, and what can we do? The world is watching,” said Jumoke Oduwole, minister of industry, trade and investment.


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