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E-Business

OLX Says Secondhand Items Worth N12.1tri Posted On Site Last Year

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By peter oluka

OLX, the leading online classifieds site in Nigeria, has released a second hand items report for Nigeria for the first time in commemoration of their 5th Anniversary to showcase trends within the local secondhand market from last year.

According to the report, the value of the unused or secondhand items posted on the site was N12.1 trillion last year, which interestingly, is almost twice the market capital for Snapchat*.

The report also showcases the power of the secondhand market offering in Nigeria, by revealing that over one million items were posted for sale last year, which equates to one item being up for grabs every 30 seconds on OLX.

Commenting on the report, Lola Masha, Country Manager, OLX stated that, “OLX currently receives over 2.8 million visits a month and we are anticipating a growth in this figure over the upcoming months. This report reflects Nigerians awareness of the second-hand value of their possessions.

The report takes a closer look at each category revealing some exciting figures about Nigeria’s secondhand market.

For example: the monetary value of mobile phones posted on OLX in 2016 is over N6.5 trillion – which is equivalent to  4 and half of the world’s largest gold bars, whilst the value of the home, furniture  & garden category on OLX is N44.3 billion which is equivalent to  almost half the cost of the Akwa Ibom stadium.

The most expensive mobile phone  posted on the site was a Nokia Vertu  for N950,000, whilst the most expensive vehicle was a pre-owned 2015 Private Jet Bombardier valued at N5.5 billion that’s the average salary of the top 5 Nigerian footballers.

“The report not only shows the enormous value of the second hand market but also demonstrates the positive impact online classifieds has on the Nigerian economy. This is a concrete demonstration of the OLX brand essence  “Everybody wins” as sellers win when they sell items they no longer need at lower prices, Buyers win when they buy items at great discounts and the Community wins as this trade leads to increased circulation of cash in the local economy.” Masha added.

The OLX Group operates a network of online trading platforms in over 40 countries. It builds market leading classifieds marketplaces that empower millions of people to buy, sell and create prosperity in local communities.

With over 300 million monthly users worldwide, OLX Group makes it fast and easy to buy and sell almost anything online, such as household goods, phones, cars and houses. Through consumer brands including Avito, dubizzle, letgo, OLX, Stradia and Storia, more than 10 million things are listed on its market-leading apps and platforms every single month.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

MyLagos App Unavailable despite Launch with Fanfare

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“MyLagos App,” which was launched with fanfare by the Lagos State Government in collaboration with MTN Nigeria has remained  unavailable for download on app stores, raising questions about its immediate accessibility.

MyLagos App Unavailable despite Launch with Fanfare

Hours after its official introduction on March 13, a search on Google PlayStore for the app returned the message, “No results for MyLagos App.”

Similarly, attempts to locate it on the Apple Store yielded no results, prompting concerns over the rollout’s status.

The digital platform was introduced as a comprehensive solution to enhance city navigation and improve the overall experience for Lagos residents.

It was touted to provide essential features, including real-time traffic updates, personalized navigation, emergency services, utility payments, business listings, and tourism information.

This reporter’s attempt to download the app proved unsuccessful. Furthermore, tests by Lagos-based individuals mirrored these findings, suggesting the app may not yet be publicly accessible.

The absence of the app has sparked speculation: could it be a work in progress, or was its availability restricted post-launch for undisclosed reasons?

Dr. Obafemi Hamzat, Lagos State Deputy Governor, described the app as a revolutionary tool aimed at improving governance and service delivery.

“Technology has evolved from being a luxury to a necessity. In our fast-paced world, effectively utilising technology can significantly enhance governance, improve service delivery, and simplify the lives of every resident in this vibrant state.

“With the launch of the MyLagos App, Lagos State is poised to remain at the forefront of digital transformation, not just in Nigeria but across Africa,” he said.

Abdulhakeem Giwa, manager of Digital Channel Management, MTN Nigeria, echoed this sentiment, highlighting the app’s potential to transform urban living and enhance navigation for residents.

While the app’s unavailability casts doubt on its immediate implementation, stakeholders remain optimistic about its promised benefits once fully operational. Whether technical challenges or strategic decisions have delayed its rollout remains unclear.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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Millions of Nigerians @ Risk as NASIMS Leaks over 23m FG Records

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National Social Investment Management System (NASIMS) has leaked millions of federal government records in a major system oversight  which could be exploited by cyber criminals.

Millions of Nigerians @ Risk as NASIMS Leaks over 23m FG Records

NASIMS is the central management platform for the administration and coordination of Social Investment Programmes under the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development

The major leak exposed everything from home addresses to work backgrounds of  tens of millions of Nigerians

According to the Cybernews research team, the exposed AWS S3 bucket stored over 23 million files, including passports, birth certificates, educational certificates, and N-Power-submitted applications.

N-Power is a social welfare scheme to combat youth unemployment. N-Power applicants use the NASIMS platform to apply to take part in the program.

“The implications of exposing 23 million application-related documents of N-Power candidates could be severe for the affected individuals. Identity theft, fraud, and targeted phishing attacks are the most likely risks for the leaks’ victims,” Cybernews research team said.

According to Cybernews research team, “Worryingly, the instance remains open to the public, even after multiple attempts to reach NASIMS administrators and relevant authorities in Nigeria. We have also reached out to the ministry behind NASIMS for a comment and will update the article once we receive a reply”

What data leaked, and why is it dangerous?

Documents stored on the exposed instance include different sets of citizens’ data. However, the team surmised that the leak revealed:

Full names

Dates of birth

Places of birth

National Identification Number (NIN)

Email addresses

Phone numbers

Home addresses

Work background

Education background

Exposing sensitive and personal data poses numerous threats to the individuals involved.

Most pressingly, attackers might utilize the information for identity theft and various fraud schemes. For one, malicious actors could try opening fraudulent bank accounts or use stolen identities for illicit activities, masking their own IDs.

“Another way attackers can exploit similar data sets is by exploiting the identities to access financial services or execute unauthorized transactions, potentially causing long-term financial damage to the victims,” Cybernews research team said.

Cybercrooks could also exploit the leak to carry out targeted phishing and social engineering attacks.

For example, malicious actors could attempt to masquerade as legitimate organizations in order to deceive individuals into providing even more sensitive data – such as login credentials – or downloading malware.

“The implications of exposing 23 million application-related documents of N-Power candidates could be severe for the affected individuals. Identity theft, fraud, and targeted phishing attacks are the most likely risks for the leaks’ victims.”

The leaks’ nature empowers attackers to craft spear-phishing attacks custom-made for each individual or group of individuals. Such attacks are hard to distinguish, as they often include targets’ personal details and other data points meant to lure in unsuspecting victims.

 

“Criminals could use the exposed data to offer fake job opportunities or promise assistance with the N-Power application process in exchange for payments or additional personal information, exploiting the candidates’ vulnerabilities,” the team explained.

Additional attack vectors involve risks to victims’ physical safety. For example, criminals could exploit leaked data to locate and target victims for various malicious purposes, such as stalking, harassment, or even burglary.

To avoid similar leaks in the future, Cybernews research team advised:

Change the access controls to restrict public access and secure the bucket. Update permissions to ensure that only authorized users or services have the necessary access.

Monitor retrospectively access logs to assess whether the bucket has been accessed by unauthorized actors.

Enable server-side encryption to protect data at rest.

Use AWS Key Management Service (KMS) to manage encryption keys securely.

Implement SSL/TLS for data in transit to ensure secure communication.

Consider implementing security’s best practices, such as regular audits, automated security checks, and employee training.

 

 

 

 

 

 

 

 

 

 

 

 


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MTN, Lagos State Launch ‘MyLagosApp’ to Enhance Productivity, Connectivity

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MTN Group, in collaboration with the Lagos State Government (LASG), has launched MyLagosApp, an innovative mobile application designed to improve productivity, enhance connectivity, and transform the lifestyle of Lagos residents.

MTN, Lagos State Launch ‘MyLagosApp’ to Enhance Productivity, Connectivity

It also aims to provide a centralised digital hub for accessing essential services, fostering a more efficient and connected Lagos.

Speaking at the official inauguration in Lagos, Karl Toriola, chief executive officer MTN Nigeria, described the app as a one-stop platform for information, services, entertainment, and hospitality.

He highlighted its role in facilitating e-governance and providing essential services to both residents and visitors.

“This app offers access to various services, including restaurant and accommodation reservations, transport options—both land and water—library access, and e-governance solutions. It is designed to simplify life for Lagosians while promoting efficiency and productivity,” Toriola said.

He emphasised that technological innovations like MyLagosApp drive economic growth by increasing productivity and improving societal well-being. He noted that Lagos, classified as a hyper-city with over 20 million residents, has the potential to become Africa’s most important city.

Toriola also revealed that Lagos State’s economy is larger than that of Kenya and reaffirmed MTN’s commitment to deepening investment in Nigeria. He disclosed plans to build a new headquarters in Eko Atlantic City and establish West Africa’s most advanced data centre, addressing the region’s need for large-scale tech infrastructure.

At a Fireside Chat, Oluwaseun Osiyemi, Lagos State Commissioner for Transport, noted that MyLagosApp would support the state’s multimodal transport policy, leveraging user data and feedback to enhance urban mobility.

Aisha Mumuni, chief digital officer, MTN, reiterated the company’s dedication to seamless connectivity despite power challenges, calling for increased collaboration to boost digital literacy.

Tokunbo Wahab, Commissioner for Environment and Water Resources, highlighted Lagos’ daily waste production of 13,000 tonnes and suggested that the app could aid waste management through advocacy, enforcement, and regulation.

 


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