E-Business
Nigeria’s inflation rate rises to 31.7 %

A report released by the National Bureau of Statistics (NBS) has revealed that the headline inflation in the country increased to 31.7 per cent in February 2024 from 29.9 per cent recorded in January 2024.
The recent figure is the highest level of inflation recorded in the country for 28 years. In the Consumer Price Index report for February 2024, it was also stated that food inflation increased to 37.92 per cent in February from 35.41 per cent in January 2024.
It read; “In February 2024, the headline inflation rate increased to 31.70% relative to the January 2024 headline inflation rate, which was 29.9%. Looking at the movement, the February 2024 headline inflation rate showed an increase of 1.8 % points when compared to the January 2024
headline inflation rate.
“On a year-on-year (YoY) basis, the headline inflation rate was 9.79% points higher compared to the rate recorded in February 2023, which was 21.91%.
“This shows that the headline inflation rate (YoY basis) increased in the month of February 2024 when compared to the same month in the preceding year (i.e., February 2023).
“Furthermore, on a month-on-month (MoM) basis, the headline inflation rate in February 2024 was 3.12%, which was 0.48% higher than the rate recorded in January 2024 (2.64%).
“This means that in February 2024, the rate of increase in the average price level is more than the rate of increase in the average price level in January 2024.
“The food inflation rate in February 2024 was 37.92% on a YoY basis, which was 13.57% points higher compared to the rate recorded in February 2023 (24.35%).
“The rise in food inflation on a year-on-year basis was caused by increases in the prices of bread and cereals, potatoes, yam and other tubers, fish, oil and fat, meat, fruit, coffee, tea, and cocoa.
“On a MoM basis, the food inflation in February 2024 was 3.79%; this was 0.58% higher compared to the rate recorded in January 2024 (3.21%).
“In February 2024, food inflation on a year-on-year basis was highest in Kogi (46.32%), Rivers (44.34%), and Kwara (43.5%), while Bauchi (31.46%), Plateau (32.56%), and Taraba (33.23%) recorded the slowest rise in food inflation on a year-on-year basis.
“On a MoM basis, however, February 2024 food inflation was highest in Adamawa (5.61%), Yobe (5.60%), and Borno (5.60%), while Cross River (2.08%), Niger (2.56%), and Abuja (2.60%) recorded the slowest rise in food inflation on a MoM basis.”
E-Business
Firm Discovers Sophisticated Chrome Zero-day Exploit Used in Active Attacks

Kaspersky has identified and helped patch a sophisticated zero-day vulnerability in Google Chrome (CVE-2025-2783) that allowed attackers to bypass the browser’s sandbox protection system.
The exploit, discovered by Kaspersky’s Global Research and Analysis Team (GReAT), required no user interaction beyond clicking a malicious link and demonstrated exceptional technical complexity. Kaspersky researchers have been acknowledged by Google for discovering and reporting this vulnerability.
In mid-March 2025, Kaspersky detected a wave of infections triggered when users clicked personalised phishing links delivered via email. After clicking, no additional action was needed to compromise their systems.
Once Kaspersky’s analysis confirmed that the exploit leveraged a previously unknown vulnerability in the latest version of Google Chrome, Kaspersky swiftly alerted Google’s security team. A security patch for the vulnerability was released on March 25, 2025.
Kaspersky researchers dubbed the campaign “Operation ForumTroll”, as attackers sent personalised phishing emails inviting recipients to the “Primakov Readings” forum. These lures targeted media outlets, educational institutions, and government organisations in Russia.
The malicious links were extremely short-lived to evade detection, and in most cases ultimately redirected to the legitimate website for “Primakov Readings” once the exploit was taken down.
The zero-day vulnerability in Chrome was only part of a chain that included at least two exploits: a still-unobtained remote code execution (RCE) exploit that apparently launched the attack, while the sandbox escape discovered by Kaspersky constituted the second stage. Analysis of the malware’s functionality suggests the operation was designed primarily for espionage. All evidence points to an Advanced Persistent Threat (APT) group.
“This vulnerability stands out among the dozens of zero-days we’ve discovered over the years,” said Boris Larin, principal security researcher at Kaspersky GReAT. “The exploit bypassed Chrome’s sandbox protection without performing any obviously malicious operations – it’s as if the security boundary simply didn’t exist.
The technical sophistication displayed here indicates development by highly skilled actors with substantial resources. We strongly advise all users to update their Google Chrome and any Chromium-based browser to the latest version to protect against this vulnerability.”
Google has credited Kaspersky for uncovering and reporting the issue, reflecting the company’s ongoing commitment to collaboration with the global cybersecurity community and ensuring user safety.
Kaspersky continues to investigate Operation ForumTroll. Further details, including a technical analysis of the exploits and malicious payload, will be released in a forthcoming report once Google Chrome user security is assured.
Meanwhile, all Kaspersky products detect and protect against this exploit chain and associated malware, ensuring users are shielded from the threat.
This discovery follows Kaspersky GReAT’s previous identification of another Chrome zero-day (CVE-2024-4947), which was exploited last year by the Lazarus APT group in a cryptocurrency theft campaign.
In that case, Kaspersky researchers found a type confusion bug in Google’s V8 JavaScript engine that enabled attackers to bypass security features through a fake cryptogame website.
E-Business
QNET Disassociates From Fraudulent Academy in Abuja, Supports EFCC Arrest

QNET, a global leader in direct selling focused on wellness and lifestyle products, strongly disassociates itself from a fraudulent operation exposed by the Economic and Financial Crimes Commission (EFCC) in Abuja.
The operation, referred to as a “Ponzi scheme academy,” misused the QNET name and led to the arrest of 133 individuals. These individuals were reportedly running a fake entity under names like “Q University” or “Q-Net,” without any affiliation to QNET.
QNET Commends EFCC and Offers Full Support
QNET applauds the EFCC and Nigerian Army for taking swift action in exposing and arresting individuals involved in this scam. We are also taking immediate steps to support the investigation and prevent further misuse of our brand. According to the EFCC, the arrests were made following actionable intelligence on the existence of the so-called academy in the Compensation Layout area of Gwagwalada, Federal Capital Territory (FCT).
QNET Is a Victim of Brand Misuse in Nigeria
QNET has long been a victim of fraudulent schemes in Nigeria. These scams have significantly harmed our reputation and misled many unsuspecting individuals. We reiterate that QNET is a legitimate e-commerce-based direct selling company that empowers Independent Distributors to promote high-quality wellness and lifestyle products in over 25 countries.
We do not operate any financial recruitment schemes or “investment academies.” In Nigeria, QNET operates strictly within legal and regulatory frameworks through our local partner, Transblue Nigeria Limited.
In a statement by Biram Fall, Regional General Manager for Sub-Saharan Africa, commented: “We are deeply concerned about the continued misuse of our brand by individuals attempting to deceive the public.
“QNET has been a victim of fraudulent activities aimed at damaging our reputation. We urge the public to verify any claims of affiliation with QNET before getting involved. We remain committed to supporting law enforcement agencies in their efforts to bring these fraudsters to justice.”
QNET’s Awareness Creation and Consumer Protection Efforts
Since entering the Nigerian market in 2022, QNET and Transblue Nigeria Limited have prioritized financial literacy and consumer protection.
In November 2023, we launched the Say NO! Awareness Campaign to educate the public about scams and promote responsible entrepreneurship.
The campaign has reached thousands through multilingual billboards, radio messages, educational pamphlets, and online platforms.
As part of this campaign, the Federal Ministry of Labour and Employment (FMLE) and the Lagos State Consumer Protection Agency (LASCOPA) were also engaged.
Commitment to Law Enforcement Cooperation
QNET and Transblue Nigeria Limited have formally reached out to the EFCC to offer their full cooperation and explore opportunities for collaboration. We are committed to supporting the ongoing investigation and ensuring that those misusing the QNET brand are held accountable.
How the Public Can Stay Safe
To protect yourself from scams falsely linked to QNET:
● Verify all QNET-related information at: www.qnet.net
● Report suspicious activity via email: network.integrity@qnet.net or WhatsApp: +233 256 630 005
● Learn how to identify scams at: www.saynocampaign.org
QNET remains fully committed to ethical business practices and transparency. We stand with Nigerian authorities in protecting citizens from fraud and will continue to cooperate fully to bring those misusing our brand to justice.
E-Business
Senate Passes Bill to Re-enact NIMC Act

The Senate has passed a bill, seeking to repeal and re-enact the National Identity Management Commission (NIMC) Act.
This followed adoption of report of Committee on National Identity Card and Population at plenary on Wednesday.
The report was presented by Senator Victor Umeh (LP-Anambra), chairman of the committee.
Senator Umeh in his presentation said the bill sought to provide for the establishment of a national identity database and the National Identity Management Commission.
According to him,the agency will be charged with responsibilities for maintenance of national database, the registration of individuals and the issuance of identity credentials.
He said the bill would lead to the creation of national identity database to source business biometric and empower NIMC to issue regulations and guidelines for implementation of the act and other related matters.
He said the bill sought to strengthen the legal framework of national and digital identity, hereby creating an optimal foundational identification ecosystem that fosters inclusion, universal coverage, and accessibility.
Senator Umeh said the act would establish a harmonious foundational identity system that is governed by a less restrictive, less cumbersome, non-discriminatory, non-punitive data protection, cost-effective, and compliance with global borders.
Senator Umeh said the bill, when passed into law, would address the challenges and limitations of national Identity management commission Act 2007, repeal it, and then close the gap of incomplete and inaccurate national identity database, provide efficient governance and service delivery.
He said the bill received overwhelming support from stakeholders at the public hearing due to the need to implement the long-awaited database system.
- News3 days ago
Police Arrest 4 Bank Staff over Alleged ₦270m Fraud, Money Laundering
- E-Business2 days ago
FG Plans to Link Social Register to NIN for Humanitarian Crisis
- E-Business3 days ago
NIMC to Prosecute Nigerians Printing ‘NIN Cards’, Says Only Slip is Legal
- Telecom2 days ago
Keystone Bank Seeks to Join Suit in Tussle over 9Mobile Shares Ownership
- Broadcasting2 days ago
We’re Confident in the Super Eagles – Karl Toriola
- E-Financial2 days ago
FG to Harmonise Fiscal Data Across MDAs
- E-Business2 days ago
Five WhatsApp Business Features Every Small Business Should Be Using
- News2 days ago
Senate Probes Federal Character Violations by NDIC, Others