Business

NITDA Warns of Latest Grandoreiro Malware Threats

Once installed, the malware circumvents security measures, allowing attackers unauthorized access to users’ devices.

Published

2 years ago

December 10, 2024

OCHEFA

454 Views

The National Information Technology Development Agency (NITDA) has issued a warning to Nigerians about a banking malware that is targeting users worldwide through sophisticated phishing campaigns.

The alert was issued by NITDA’s Computer Emergency Readiness and Response Team on Monday.

NITDA highlighted that the latest version of the Grandoreiro malware poses a serious threat, employing advanced techniques like screen overlay attacks and remote device control to steal sensitive information, including banking credentials and personal data.

The agency explained that the malware is primarily spread through phishing emails and fraudulent websites, tricking users into downloading harmful software disguised as legitimate updates or documents.

Once installed, the malware circumvents security measures, allowing attackers unauthorized access to users’ devices.

NITDA cautioned that the malware could result in financial losses and identity theft.

The agency urged the public to remain vigilant and adopt recommended security practices to reduce the risks.

“Cyber threats like Grandoreiro are evolving, and users need to stay vigilant and adopt robust security practices to protect their information,” the agency advised.

NITDA recommended avoiding links and attachments from unknown emails, downloading software only from trusted sources, and enabling multifactor authentication to secure online banking and financial accounts.

The agency also emphasised the importance of keeping antivirus software updated, avoiding public Wi-Fi for financial transactions, and regularly monitoring bank accounts for unauthorised activities.

Business

NCC, CBN To Warn Companies By Flagging Fraudulent Phone Numbers

“A phone number has also become part of our digital identity, used to access financial services, manage pensions and shop online,” Maida said.

Published

12 minutes ago

October 21, 2026

OCHEFA

2 Views

The Nigerian Communications Commission is working with the Central Bank of Nigeria (CBN) to identify recycled phone numbers and numbers flagged for fraudulent activities.

The NCC Executive Vice Chairman, Dr Aminu Maida, disclosed this on Tuesday in Lagos at the commission’s 95th Telecom Consumer Parliament.

Maida said that the proposed verifications under its Telecommunications Identity Risk Management System (TIRMS) would help organisations to identify fraudulent linked phone numbers and reduce the risk of unauthorised access to customers’ accounts and services.

He said phone numbers have become central to how people access digital services.

“A phone number has also become part of our digital identity, used to access financial services, manage pensions and shop online,” Maida said.

Business

Currency Words You Should Know

Appreciation is an increase in a currency’s value under a market-driven exchange-rate system.

Published

37 minutes ago

October 21, 2026

OCHEFA

5 Views

As of October 21, 2026, the Naira is exchanging at the parallel makert at 1370 USD, 1800 British Pound, while the EURO is1500.

Here’s are some words commonly used in currency movement in the foreign exchange market:

Devaluation occurs when authorities deliberately reduce a currency’s official value under a fixed or managed exchange-rate system.

Revaluation occurs when authorities deliberately increase a currency’s official value under such a system.

Depreciation is a decline in a currency’s value under a market-driven exchange-rate system.

Appreciation is an increase in a currency’s value under a market-driven exchange-rate system.

For example, if the exchange rate moves from ₦1,500 per dollar to ₦1,200 per dollar, the naira has appreciated against the dollar because fewer naira are needed to purchase one dollar. If the rate moves from ₦1,200 to ₦1,500 per dollar, the naira has depreciated.