Business
How to boost your bank account, mobile wallet security
Cybercriminals are constantly devising new ways to exploit vulnerabilities and steal sensitive information. DANIEL ADAJI outlines ways to safeguard your bank account and mobile wallet.
In today’s rapidly evolving digital landscape, the importance of robust mobile wallet security cannot be overstated. With the surge in the use of digital wallets, there has been a corresponding increase in the activities of cybercriminals, who are constantly on the lookout for vulnerabilities to exploit. The convenience offered by these digital payment methods is undeniable, but it also presents a lucrative target for those with malicious intent.
The stories are all too common: unsuspecting individuals falling prey to sophisticated scams, resulting in the loss of significant sums of money. These criminals employ a variety of tactics to breach digital defences, often capitalising on the smallest oversight in security practices.
It is a stark reminder that in the digital realm, our financial well-being is perpetually at risk from those who wish to unlawfully enrich themselves.
It is imperative, therefore, that each individual take proactive steps to safeguard their digital assets. This begins with a thorough understanding of the potential risks associated with digital transactions and extends to the implementation of strong security measures. Regularly updating passwords, enabling two-factor authentication, and monitoring account activity are just a few of the many actions that can significantly enhance security.
Moreover, staying informed about the latest security threats and understanding the common tactics used by cybercriminals can provide an additional layer of protection. Education on digital safety should be ongoing, as the methods used by these criminals are constantly evolving. Being vigilant and cautious with every transaction, no matter how small, is essential.
In essence, while technology companies and financial institutions strive to fortify their systems against unauthorised access, the onus of digital safety ultimately falls on the user. It is a personal responsibility that must be taken seriously, for the repercussions of neglect can be dire.
By adopting a mindset that prioritises security, individuals cannot only protect their financial interests but also contribute to the overall safety of the digital ecosystem.
As we embrace the convenience of digital wallets, we must also embrace the responsibility that comes with it. Vigilance, education, and the implementation of robust security practices are the pillars upon which the safety of our digital finances rests.
It takes collective effort that starts with individual action. Only through such concerted efforts, we can hope to stay one step ahead of those who seek to cause harm in the digital world.
Your digital safety is not only a right but also a responsibility that you have towards yourself and others.
To keep your digital wallets safe, follow these essential security practices:
Use strong passwords
Create unique, complex passwords for each financial account. Avoid using easily guessable information like birthdays or common phrases. A strong password typically includes a mix of uppercase and lowercase letters, numbers, and special characters.
Enable two-factor authentication
Whenever possible, enable 2FA for your accounts. This adds an extra layer of security by requiring a second verification method (such as a text message or authentication app) in addition to your password.
Regularly monitor your accounts
Check Your Statements
Review your bank and credit card statements regularly. Look for any unauthorised transactions or suspicious activity. Report discrepancies immediately to your financial institution.
Set Up Alerts
Most banks and mobile wallet apps allow you to set up transaction alerts. Receive notifications for large withdrawals, international transactions, or any other unusual activity.
Update software
Keep your operating system, apps, and security software up to date. Updates often include patches for known vulnerabilities.
Install antivirus software
Use reputable antivirus software to protect against malware and phishing attacks. Regularly scan your devices for threats.
Lock your devices
Set up a PIN, password, or biometric lock (such as fingerprint or face recognition) on your smartphone and other devices. This prevents unauthorised access.
Be cautious online
Avoid public Wi-Fi for sensitive transactions
Public Wi-Fi networks are vulnerable to interception. Avoid conducting sensitive financial transactions while connected to public Wi-Fi.
Beware of phishing emails and texts
Cybercriminals often impersonate banks or financial institutions via email or text messages. Be sceptical of unsolicited messages asking for personal information or urging urgent action.
Use trusted apps and websites
Download Apps from Official Stores: Only download banking and wallet apps from official app stores (such as Google Play or the Apple App Store). Avoid third-party sources.
Check Website URLs
Before entering any sensitive information, verify that the website’s URL begins with “https://” (the “s” stands for secure). Look for the padlock icon in the address bar.
Secure your mobile wallet
Set up biometric authentication
If your mobile wallet supports it, enable biometric authentication (fingerprint or face recognition). This adds an extra layer of security.
Regularly review transactions
Check your mobile wallet transactions frequently. Report any unauthorised charges promptly.
Business
31 electricity towers affected as vandals destroy transmission lines in Edo communities
The Transmission Company of Nigeria (TCN) says vandals in Benin, Edo state, have destroyed 31 transmission towers.
In a statement on Friday, Ndidi Mbah, TCN’s director of public affairs, confirmed that vandals attacked transmission towers in Okada and Ofosu communities along the 330kV Benin-Egbin and Benin-Omotosho transmission lines.
Mbah said the vandalised towers, which suffered significant damage with critical components removed earlier in November, were discovered by TCN linesmen during a routine patrol.
“A total of 31 towers were affected in this incident,” she said.
“TCN engineers from the Benin Sub-Region have initiated repairs to prevent the collapse of the affected towers and to avoid disruption of bulk power supply.”
‘AHOADA-YENAGOA LINE UNDER REPAIR TARGETED BY VANDALS’
Mbah also said its Ahoada-Yenagoa 132kV line, which was under repair following a previous attack, was once again targeted by vandals.
The TCN spokesperson confirmed that the attack, which occurred on November 19, affected towers 29 to 31 and resulted in the theft of approximately one-third of the conductor.
On August 14, TCN announced that Bayelsa state would face a prolonged power outage following the destruction of 13 transmission towers along the Ahoada-Yenagoa 132kV double circuit transmission line by vandals.
The transmission company, on October 29, reported that 65 percent of the damaged transmission towers had been repaired.
The company said 17 transmission towers had been successfully erected, with work continuing on the remaining three.
“A team of TCN engineers, led by Engr. Emmanuel Akpa, General Manager of the Port Harcourt Region, has conducted an inspection of the site,” the statement reads.
“Preliminary findings indicate that the incident occurred at night. In an attempt to prevent further theft while repair arrangements are being made, local security has been engaged at Ula Ikata in Ahoada East LGA to secure the site until repairs are completed.
“Additionally, the line will be energized from the Ahoada end as a preventive measure.”
Mbah added that efforts are underway to replace the stolen 250mm conductor.
Despite challenges posed by difficult terrain and flooding, she said the restringing of the Ahoada-Yenagoa 132kV line is approximately 85 percent complete.
The public relations officer stressed that the incidents underscore the urgent need to address the growing problem of vandalism and theft, which continue to affect Nigeria’s power infrastructure.
She urged the public to support efforts to tackle such criminal acts, which have hindered the expansion and stability of the national grid.
Mbah also called on security operatives and local communities to remain vigilant in protecting power infrastructure in their areas as TCN intensifies its efforts to safeguard its installations.
Business
NCAA issues aerodrome certification for Lagos, Abuja international airports
The Nigeria Civil Aviation Authority (NCAA) has issued Aerodrome Certification for Murtala Muhammed International Airport in Lagos and Nnamdi Azikiwe International Airport in Abuja.
This recertification is a significant achievement, highlighting the ongoing improvements in the safety standards of Nigeria’s international airports.
The announcement was conveyed via a post on the official X (formerly Twitter) account of the Federal Airports Authority of Nigeria (FAAN) on Friday.
The Aerodrome Certificates were formally presented to the Managing Director/Chief Executive of FAAN, Mrs. Olubunmi Kuku, by the Acting Director General of the NCAA, Capt. Chris Najomo.
“@NigeriaCAA just issued Aerodrome Certification for the Murtala Muhammed International Airport Lagos and the Nnamdi Azikiwe Airport Abuja. The recertification is a major boost and attestation to the continued improvements of the safety standard of our Airports,” the tweet read in part.
The certification confirms that Lagos and Abuja airports adhere to the strict safety, operational, and technical standards of the International Civil Aviation Organization (ICAO). This milestone is anticipated to enhance trust among domestic and international airlines, strengthening Nigeria’s standing in global aviation.
Business
Lagos state government plans traffic diversion in Ikeja for 10km Capital City Race today
The Lagos State Government has announced plans for a traffic diversion to accommodate the 10km Capital City Race scheduled for Saturday, November 23, 2024.
The race, which runs between 5:00 AM and 11:00 AM, will affect several major roads in the Ikeja axis, requiring motorists to explore alternative routes during the event.
A statement published on the official X (formerly Twitter) account of the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, on Friday, highlighted the affected routes.
These include Shoprite Alausa, Billings Way, Kudirat Abiola Way, Opebi Link Bridge, Allen Avenue, Adeniyi Jones, and Oba Akran Avenue.
The race will conclude at the Police College Sports Secretariat/Gym. Junctions and intersections along these roads will be temporarily blocked and manned by officials from the Lagos State Traffic Management Authority (LASTMA), the Nigeria Police Force (NPF), the Federal Road Safety Corps (FRSC), and the Lagos State Neighborhood Corps (LSNC) to ensure a smooth event.
“The Lagos State Government has announced that traffic will be diverted to accommodate the maiden edition of the 10-kilometer Capital City Race between 5:00 am and 11.00 am tomorrow Saturday, 23rd November, 2024.
“To this end, the following route starting from; Shoprite Alausa Ikeja inwards Billings Way to Kudirat Abiola Way, Opebi Link Bridge, Opebi Glo Tower inward Allen Avenue, Allen Junction, GTBank on Adeniyi Jones, AP Filling Station on Oba Akran Avenue, Samsung Authorized Service Centre to Police College Sports Secretariat/Gym will be partially closed off to vehicular movement.
“Consequently, all junctions and intersections from Shoprite Alausa Ikeja to the destination (Police College Sports Secretariat/Gym) will be blocked with barriers, manned by LASTMA, NPF, FRSC, and LSNC to prevent other road users access to the main race corridor,” the statement read in part.
The Lagos State Commissioner for Transportation urged motorists to remain patient as the road closures are part of the traffic management plan for the event. He added that intersections will be intermittently reopened as the race progresses to minimize inconvenience for road users.
Motorists are advised to plan their movements accordingly and cooperate with traffic officials to ensure the success of the inaugural Capital City Race.
In addition to the planned traffic diversion in Ikeja for the 10km Capital City Race, other traffic diversions are currently in effect across Lagos to accommodate critical infrastructure projects.
The Lagos State Government recently announced a 15-month traffic diversion at Mile 2, which began on November 11, 2024, to facilitate the construction of the new Transport Interchange Terminal. This project aims to integrate rail, bus, water, and non-motorized transport, addressing the city’s growing transportation needs.
The diversion affects Loop 1 on the Apapa-bound lane and Loop 4 on the Badagry-bound lane and will last until February 16, 2026. Motorists are advised to use alternative routes, such as Akinwande Road for Badagry-bound traffic and Durban Road for Apapa-bound traffic, to ease congestion.
Additionally, a three-month traffic diversion on the Marine Bridge, outbound Apapa, commenced on Monday, November 18, 2024. This diversion, set to run until February 25, 2025, is to allow for urgent asphalt repairs overseen by the Federal Ministry of Works.
Motorists heading toward Lagos Island are advised to use the Eko Bridge via Costain Roundabout, while those heading to Ijora Causeway or Iddo can navigate through Ijora 7up or other designated routes.
These diversions are part of ongoing efforts by the Lagos State Government to improve transportation infrastructure while minimizing disruption for road users.
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