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Only hard work, not ritual, drug gives sustainable wealth – Fashola advises youths

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Former Minister of Works, Raji Fashola (SAN)

Only hard work, not ritual, drug gives sustainable wealth – Fashola advises youths

A former Minister of Works and Housing, Dr Babatunde Fashola, has charged fresh graduates and other youths to embrace the future with skills, technology and self-discipline.

Fashola said on Tuesday that the youth would need to prepare for enormous possibilities of prosperity that would elevate the human race. The former Governor of Lagos State gave the charge at the 27th Convocation Lecture of Lagos State University (LASU).

The Convocation Lecture had the theme: “Embracing the Future: Navigating the Intersection of Technology and Humanity”.

“After all the celebrations, you need to reflect and remember this part; self-discipline. It will show you the way away from drugs, crime, belief in wealth without work, and search for miracles of wealth.

“Only hard work provides sustainable wealth; not rituals, not fake pastors or imams, and not trafficking in illicit drugs.

“Self-discipline will be the element that completes all the work your parents and guardians have done and what your lecturers have done.

“It will concretise your character and define your reputation. It will be the compass for your integrity and determine whether you are worthy of trust,” Fashola said.

The former minister added that the students were graduating into a world of technology at a time when talent was been rewarded at an unprecedented level.

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“One generation ago, there was no internet as we know it today. Google Maps Today was a story I read in the Newsweek or Time Magazine… in 1985 to 1986, of a plan to digitally map the surface of the earth.

“Today, I use the platform to find locations and it is now helping to predict travel time because something new has been added to it – artificial intelligence – based on extensive supercomputing powers.

“The world that awaits you is a world where human beings have developed enormous machine learning capacities,” Fashola said.

He told the graduating students that the education they received at LASU would take them somewhere in their journey of life but would not be enough.

You will require many more things, including continuing education in the formal and informal way. Life becomes meaningless the day we stop learning.

“Some things, as you know it today, will not exist in a few years’ time. Some jobs that you aspire to, may be gone before you know it.

“Whatever the losses, the gains will surpass them. Your world and the future it promises will be more exciting and more prosperous.

“The early foretaste of the impact of artificial intelligence is that it is positive for mankind,” Fashola added.

He added that determination and hard work, collective belief in new and innovative ideas would lead to greater success and innovation.

“Let this serve as a reminder that fostering and investing in the potential of the next generation can lead to extraordinary achievements,” Fashola added.

Only hard work, not ritual, drug gives sustainable wealth – Fashola advises youths

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First Lady Remi Tinubu distributes palliatives to 2,400 PWDs, orphans in Kaduna

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First Lady Remi Tinubu distributes palliatives to 2,400 PWDs, orphans in Kaduna

Nigeria’s First Lady, Senator Oluremi Tinubu, has flagged-off the distribution of palliatives to 2,400 less-privileged citizens of Kaduna State, including People With Disabilities (PWDs), orphanage homes, widows and women infected with HIV among others.

Senator Tinubu, who was represented at the flag-off of the palliatives distribution by the Wife of Kaduna State Governor, Hajia Hafsat Uba Sani, said the palliatives were designed to cushion the effects of economic hardship on the less-privileged across the country.

 The First Lady said the President Bola Ahmed Tinubu-led Federal Government is working tirelessly to improve the economy of the country and therefore requires the patience and cooperation of the citizens to achieve the desired goals of delivering good governance to the people.

She, however, said the less privileged, poor, vulnerable and underserved people of Nigeria, especially People With Disabilities (PWDs) are dear to her heart, hence the need to distribute the palliatives, to assist them.

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While urging the beneficiaries not to sell the palliatives, but use them to the benefit themselves and their families. She promised to sustain the assistance in Kaduna and across the Country.

Also speaking at the event, the Kaduna State Commissioner for Human Services and Social Development, Hajia Rabi Salisu, explained that the 2,400 bags of rice donated by the First Lady, Senator Tinubu are being distributed to 2,400 less-privileged families.

She said the beneficiaries were drawn from the 23 local government areas of the state and from different groups, including PWDs, orphanages, widows, people infected with HIV,  NYSC Corps members and the two religious bodies- the Christian Association of Nigeria (CAN) and Jama’atu Nasril Islam (JNI) among others.

 In her own capacity, Wife of Governor Uba Sani, Hajia Hafsat gave cash donations to the respective beneficiary groups to complement the food item donated by the First Lady.

Chairman of the PWDs in Kaduna, Suleiman Abdullahi, said, “the palliative distribution is a sign that the APC government of President Tinubu and Governor Uba Sani at Kaduna State level, care for the people, especially People With Disabilities (PWDs). In the past, when the elections were over, the people in government often forgot the less privileged like us.”

First Lady Remi Tinubu distributes palliatives to 2,400 PWDs, orphans in Kaduna

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Hackers steal $664m from crypto investors in six months

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Hackers steal $664m from crypto investors in six months

Crypto investors lost $664m to hackers in the first half of the year, marking a more than 50 per cent increase compared to the same period last year, according to data from DefiLlama.

The largest aggregator for decentralised finance stated that the bulk of those losses came from phishing attacks and compromised private keys.

It noted that crypto hackers were often skilled bad actors, who work for cybercrime syndicates, such as North Korea’s state-sponsored Lazarus Group, which was suspected of having stolen billions in crypto.

DefiLlama stated that high-powered hacking tools were not usually available to the army of amateur hackers on the internet.

However, experts are raising concerns about the growing threat of open-source infostealers, malicious software designed to steal sensitive financial information from victims’ computers.

These infostealers target crypto wallet passwords, private keys, and other sensitive data.

This year, compromised private keys have led to some of the biggest crypto hacks, including the theft of $305m from the DMM Bitcoin exchange.

A blockchain expert and Team Lead at SIRFITECH, Adewale Kayode, told The PUNCH that Nigeria had emerged as a hub for cryptocurrency scams, with the country ranking second globally in crypto adoption, trailing only India.

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Kayode attributed the high adoption rate to the economic hardship in the country, with many individuals seeking alternative means to supplement their income.

However, that had created a fertile ground for scammers to exploit, resulting in a staggering $8m lost to crypto scams in Nigeria alone over the past six months, he said.

Globally, crypto scams are becoming increasingly sophisticated, with fraudsters employing multi-level marketing scams, crypto fraud, Ponzi schemes, fake ICOs, and phishing attacks to dupe victims.

The IT expert cautioned that scammers constantly innovate, utilising tactics such as replacement-by-fee attacks to avoid detection.

Kayode emphasised the urgent need for regulatory measures to combat the rising trend of crypto scams, stressing that regulation is crucial to protecting individuals and ensuring the integrity of the cryptocurrency market.

According to a recent report by Proofpoint researchers, cybercriminals are using various tactics to target cryptocurrency, resulting in significant financial losses.

The report, titled “How Cyber Criminals Target Cryptocurrency,” highlighted two primary objectives of cybercriminal threat actors: traditional fraud and targeting decentralised finance organisations.

Traditional fraud tactics involve business email compromise attacks, targeting individuals and resulting in financial losses.

Meanwhile, the targeting of DeFi organisations aims to compromise cryptocurrency storage and transactions, potentially leading to follow-on attacks.

“While most attacks require a basic understanding of how cryptocurrency transfers and wallets function, they do not require sophisticated tooling to find success,” the researchers said.

Hackers steal $664m from crypto investors in six months

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CAC extends POS registration deadline to September

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CAC extends POS registration deadline to September

The Corporate Affairs Commission has granted a 60-day extension for the mandatory registration of Point of Sales agents, super agents, and sole agents.

The new deadline is now September 5, 2024.

This extension is intended to provide sufficient time for operators, especially those in remote areas, to complete their registration.

The commission acknowledged that some operators may have faced network challenges, and this extension will enable them to register and continue their businesses without interruption.

The announcement was made through a statement posted on the commission’s Facebook page on Saturday.

The statement read, “The Corporate Affairs Commission wishes to notify Fintech Operators also known as Point of Sales Operators that the initial deadline of 7th July 2024 given for the registration of sole Agents, Super Agents, and Agents has been extended for sixty days beginning from 7th July 2024 to the 5th September 2024.

“This is to give sufficient time to Operators particularly those in remote areas who might have encountered network challenges to so register and continue with their businesses.

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It added operators who continue to disobey after the new deadline will risk losing their businesses and facing prosecution for assisting criminal activities.

“Operators who fail or refuse to register at the end of the extended deadline run the risk of losing such businesses and prosecution for aiding and abetting criminal activities.”

Two months ago, the CAC announced that PoS agents of major fintechs in Nigeria including OPay, Palmpay, and Moniepoint, among others, have been given a deadline of July 7, 2024, to register their business.

The Registrar-General of the CAC, Hussaini Magaji, who announced this said this was the agreement with the PoS operators after a meeting in Abuja.

According to him, the registrations also align with the legal requirements and the directives of the Central Bank of Nigeria.

He added that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020 as well as the 2013 CBN guidelines on agent banking.

He said the registration is aimed at safeguarding the businesses of fintechs and customers and strengthening the economy.

CAC extends POS registration deadline to September

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