Business
Hackers Can Unlock, Steal Your Vehicles, NCC Alerts Nigerians
…Warns of vulnerability to new Android trojan apps
AJAGBE ADEYEMI TESLIM
Sponsored by: H&H
The fact that car remotes are categorized short range devices that make use of radio frequency (RF) to lock and unlock cars informed the need for the Commission to alert the general public on this emergent danger, where hackers take advantage to unlock and start a compromised car.
According to the latest advisory released by the Computer Security Incident Response Team (CSIRT), the Cybersecurity Centre for the telecom sector established by the NCC, the vulnerability is a Man-in-the-Middle (MitM) attack or, more specifically, a replay attack in which an attacker intercepts the RF signals normally sent from a remote key fob to the car, manipulates these signals, and re-sends them later to unlock the car at will.
With this latest type of cyber-attack, it is also possible to manipulate the captured commands and re-transmit them to achieve a different outcome altogether. “Multiple researchers disclosed a vulnerability, which is said to be used by a nearby attacker to unlock some Honda and Acura car models and start their engines wirelessly. The attack consists of a threat actor capturing the radio frequency (RF) signals sent from your key fob to the car and resending these signals to take control of your car’s remote keyless entry system,” the advisory stated emphatically.
However, the NCC-CSIRT, in the advisory, has offer some precautionary measures or solutions that can be adopted by car owners to prevent falling victim to the attack.
According to the cyber-alert unit of the Commission, “When affected, the only mitigation is to reset your key fob at the dealership. Besides, the affected car manufacturer may provide a security mechanism that generate fresh codes for each authentication request, this makes it difficult for an attacker to ‘replay’ the codes thereafter. Additionally, vulnerable car users should store their key fobs in signal-blocking ’Faraday pouches’ when not in use.”
Importantly, car owners in the stated categories are advised to choose Passive Keyless Entry (PKE) as opposed to Remote Keyless Entry (RKE), which would make it harder for an attacker to read the signal due to the fact that criminals would need to be at close proximity to carry out their nefarious acts.
The PKE is an automotive security system that operates automatically when the user is in proximity to the vehicle, unlocking the door on approach or when the door handle is pulled, and also locking it when the user walks away or touches the car on exit.
The RKE system, on the other hand, represents the standard solution for conveniently locking and unlocking a vehicle’s doors and luggage compartment by remote control.
Additionally, in a related advisory, the NCC, based on another detection by CSIRT, wishes to inform the general public about the resurgence of Joker Trojan-Infected Android Apps on Google Play Store.
This arose due to the activities of criminals who intentionally download legitimate apps from the Play Store, modify them by embedding the Trojan malware and then uploading the app back to the Play Store with a new name.
The malicious payload is only activated once the apps goes live on the Play Store, which enables the apps to scale through Google’s strict evaluation process. Once installed, these apps request for permissions that once granted, enable the apps to have access to critical functions such as text messages and notifications.
As a consequence, a compromised device will subscribe unwitting users to premium services, billing them for services that do not exist. A device like this can also be used to commit Short Messaging Service (SMS) fraud while the owner is unaware.
It can click on online ads automatically and even use SMS One Time password (OTPs) to secretly approve payments. Without checking bank statements, the user will be unaware that he or she has subscribed to an online service. Other actions, such as stealing text messages, contacts, and other device data, are also possible.
To avoid falling victim to the manipulation of hackers deploying Joker Trojan-Infected Android Apps, Android users have been advised to avoid downloading unnecessary apps or installing apps from unofficial sources.
The NCC also wishes to advise telecom consumers to ensure that apps installed from the Google Play Store are heavily scrutinized by reading reviews, assessing the developers, perusing the terms of use and only granting the necessary permissions.
Conclusively, the NCC recommends that unauthorised transactions be checked against any installed app. Indeed, any apps not in use should be deleted while users are also advised to ensure that a device is always patched and updated to the latest software.
Business
Access Bank Group, Aig-Imoukhuede Foundation Pledge $300m to Transform Africa’s Economic Landscape
“We can’t wait to be saved; Africans need to solve Africa’s problems. This $300 million commitment reflects this reality’’ – Aig-Imoukhuede
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The Aig-Imoukhuede Foundation and Access Bank Group have pledged $300 million in charitable commitments over the next 20 years. Access Bank has committed $200 million and Aig-Imoukhuede Foundation committed $100 million.
President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at the Africa CEO Forum 2024 in Kigali…Thursday.
This will fund African government initiatives with a proven potential to transform national economic performance.
Speaking about the commitment, Aigboje Aig-Imoukhuede, Chairman, Access Holdings and Co-Founder, Aig-Imoukhuede Foundation, said, “We can’t wait to be saved, Africans need to solve Africa’s problems. This $300 million commitment reflects this reality.”
President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC, at the Africa CEO Forum 2024 in Kigali…Thursday.
Appropriately, this announcement was made at the Africa CEO Forum 2024 in Kigali, Rwanda, where the theme of this year’s event is ‘At the table or on the menu?’. At the event, CEOs from across the continent joined to discuss how Africa can demand a seat at the global table, rather than continuing to wait to be invited.
The fund will see the creation of an African-led Super NGO in partnership with academics, experts and philanthropists across the globe who are committed to closing the gap between Africa and the rest of the world. The NGO will work with African governments to provide the funding, governance and talent required to successfully execute game changing government reform programs, especially in the delivery of digital public infrastructure.
The development comes at a time when Ajay Banga, President of the World Bank, has warned wealthy countries that it would be short-sighted to “ignore” Africa. This landmark Africa-led initiative could not have been better timed.
Aigboje Aig-Imoukhuede, Chairman, Access Holdings PLC and Co-founder, Aig-Imoukhuede Foundation and Ofovwe Aig-Imoukhuede, Co-founder, Aig-Imoukhuede Foundation, on the sidelines of the Africa CEO Forum 2024 in Kigali…Thursday.
“We African leaders cannot sit back and watch the 4th Industrial Revolution transform the rest of the world while leaving Africa falling further behind. We have to create our own ‘table’ by using technology to unlock the power of our youth, giving Africa a greater voice in the world. It’s today’s leaders who will determine whether or not we grab this opportunity,” Aigboje Aig-Imoukhuede continued.
The availability of digital public infrastructure is a proven and cost-effective way for developing nations to break free of the status quo. It provides citizens with access to the same public goods and services available to citizens of advanced nations.
The India Stack has become a shining example of what can be achieved when visionary public and private sector leaders partner for development.
The Access Bank and Aig-Imoukhuede Foundation inspired NGO will make such partnerships a reality and delivering measurable improvements to the lives of Africans across the continent.
Notes to Editor:
For media inquiries, please contact:
communication@aigafrica.org or +234 808 5716 788
mediarelations@accessbankplc.com or +234 803 320 4315
ABOUT THE AIG-IMOUKHUEDE FOUNDATION
The Aig-Imoukhuede Foundation is a public sector-focused philanthropic organisation founded by Aigboje and Ofovwe Aig-Imoukhuede to improve the lives of Africans through transformed public service delivery and increased access to quality primary healthcare. The Aig-Imoukhuede Foundation accomplishes its mission by supporting the reform initiatives of public sector entities, providing financing, technical support, and capacity-building programmes and resources for the public sector workforce. The Foundation also provides funding and strategic support to drive the work of affiliate organisations such as Africa Business Coalition for Health (ABC Health), the Private Sector Health Alliance of Nigeria (PSHAN), the Nigerian Solidarity Support Fund (NSSF) and others.
For more information, please visit www.aigimoukhuedefoundation.org.
Business
AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL
AIGBOJE AIG-IMOUKHUEDE APPOINTED PRESIDENT OF FRANCE NIGERIA BUSINESS COUNCIL
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
At the esteemed Choose France Summit 2024, held on Monday, May 13, 2024, Aigboje Aig-Imoukhuede, the Chairman of Access Holdings PLC, was formally appointed as the President of the France Nigeria Business Council (FNBC) by the President of the French Republic, President Emmanuel Macron.
Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.
The France Nigeria Business Council (FNBC) stands as a pivotal coalition of Nigerian private sector business leaders, committed to enhancing bilateral relations between Nigeria and France. Its core objectives revolve around the facilitation of trade, investments, infrastructural development, job creation, and cultural integration between the two nations.
Since its establishment in June 2021 under the auspices of President Emmanuel Macron, the FNBC has diligently utilised its member network to champion investments across key business sectors, fostering cultural understanding and driving economic growth between Nigeria and France. Notably, it has catalysed Nigerian businesses’ ventures into investment opportunities within France.
Comprising 13 distinguished members, the Council boasts prominent figures including Aigboje Aig-Imoukhuede (President), Abdul Samad Rabiu, Gilbert Chagoury, Mike Adenuga, Aliko Dangote, Jim Ovia, Tony Elumelu, and John Coumantaros. Additionally, Kola Karim, Leo Stan Ekeh, Daisy Danjuma, Gbenga Agboola, and Jean Haas serve as integral members, with Jean Haas holding the position of Secretary.
Aig-Imoukhuede’s appointment follows the passing of Herbert Wigwe, the Council’s former President, in February 2024.
Aigboje Aig-Imoukhuede having a handshake and a tête-à-tête with President Macron at the Council’s meeting with the President, and Gilbert Chagoury looking on.
The Choose France Summit is an annual gathering that convenes business magnates, investors, and governmental dignitaries to explore investment prospects within France. The highlight of the Summit was the Presidential Dinner, characterised by high-level engagements and mutual commitments between participating parties.
Business
ACCESS BANK (SL) LTD STRENGTHENS LEADERSHIP TEAM WITH KEY BOARD APPOINTMENTS, NAMES NEW CHAIRMAN
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Access Bank Sierra Leone Ltd (‘Access Bank (SL) Ltd’) has announced the appointment of new executives to its Board of Directors (‘the Board’), further strengthening its leadership team and advancing the implementation of its growth and transformation strategy.
These appointments also reflect the Bank’s commitment to fostering growth and development while maintaining the highest standards of governance and stewardship.
Joining the Board as Non-Executive Directors are Maurice Nathaniel Cole, Nsikak N. Usoro, Michala Mackay, Ibrahim Khalil Lamin, and Kolawole Augustine Ajimoko.
The appointees boast a wealth of expertise from diverse sectors, including banking, telecommunications, corporate governance, compliance, and finance. Their combined experience and vision will contribute to shaping the future trajectory of Access Bank (SL) Ltd.
Cole will serve as Chairman, following the exit of Alice Marie Onomake and will bring his experience to the fore as Access Bank (SL) Ltd works to consolidate its market position and deliver value for all its stakeholders.
“We are thrilled to welcome our new executives to Access Bank (SL) Ltd,” said Ganiyu Sanni, Country Managing Director, Access Bank Sierra Leone Ltd. “Their leadership and vision will be invaluable as we navigate through challenges and pursue sustained success. We extend our gratitude to outgoing Chairman, Alice Marie Onomake, and Non-Executive Director, Aminata B. Dumbuya, for their dedicated service and contributions to the Bank.”
Access Bank (SL) Ltd remains committed to excellence, transparency, and accountability as it embarks on this exciting new chapter. The Bank looks forward to leveraging the collective expertise of its leadership team to drive innovation, foster growth, and create lasting impact for its customers and communities.
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