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NDPC investigates Remita, Sterling Bank for alleged data breach

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The Nigeria Data Protection Commission (NDPC) has announced that it is carrying out an investigation into an alleged data breach involving Remita Payment Services Ltd., Sterling Bank, and other entities.

The investigation notice was disclosed on Sunday in a statement signed by the NDPC Head, Legal, Enforcement and Regulations, Babatunde Bamigboye, noting that the efforts are in line with the commission’s procedure, after receiving the ‘Notice of Investigation’ on 1 April.

The NDPC confirmed that the relevant parties and individuals have been providing information for the purpose of addressing the incident.

Cybercrime tracking platform, Dark Web Informer, announced in an X post on 31 March that there was “a massive breach allegedly from Remita, a major Nigerian payment processing platform, that has been leaked on a popular cybercrime forum.”

According to the report, a total of “3TB of S3 storage, 800GB+ of KYC documents (IDs, passports, photos, bank statements, electricity bills), MySQL/Postgres databases, logs, docker registries, source codes, government HSM keys, GitKraken to S3 backups and sources codes, 35,000+ password hashes, and three databases”, were breached on the Remita platform.

PREMIUM TIMES reached out to Remita through email and on social media platforn X for clarity on the alleged data breach, but the payment platform did not respond.

Additionally, there were reports of a separate alleged data breach involving Sterling Bank around the same time period.

NDPC probes

In its statement on Sunday, the NDPC said that it is probing the alleged data breaches to ensure that data subjects are protected and to find the mitigating measures to counter the data breaches.

“The investigation aims to ensure that data subjects are protected with appropriate technical and organisational measures.

“The investigation by NDPC covers, among others, the types of personal data involved, the nature and scope of the alleged breach, the risk to data subjects and the mitigation measures carried out where a breach is confirmed,” the statement read.

On further clarified that companies that use digital payment systems without appropriate technical and organisational measures will also be examined as part of a wider effort to ensure the integrity of the ecosystem.

“The Commission’s National Commissioner/CEO, Dr Vincent Olatunji, has directed that organisations that employ digital payment systems without putting in place appropriate technical and organisational measures as mandated under the Nigeria Data Protection Act, 2023 (NDP Act), will also be examined as part of a wider effort to ensure the integrity of the ecosystem,” the statement read.

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NEM Insurance, Custodian, Fidelity Bank top stock pick this week

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Last week, Nigerian stocks fell by 1.2 per cent, marking its third week of broad retreat in the wake of the introduction of a T+1 settlement cycle in June.

The Banking Index was worst hit, receding by 10.5 per cent, followed by the Insurance Index. FTSE Russell, a global provider of stock market indexes, during the week placed its recent upgrade of Nigeria from unclassified to a frontier market on hold on fears that the country’s new rule, compelling international investors to prefund their accounts before transactions, may be deterring.

Failure by stock market authorities to respond swiftly to address the issue may leave stocks hammered further by apathy and capital flight from foreign investors.

This week, increased positioning, notably in stocks that pay dividends at least twice a year, could be witnessed as the market awaits the release of half-year corporate results.

PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.

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The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.

NEM Insurance

NEM Insurance tops this week’s list for its strong fundamentals. The net profit ratio (NPR) of the underwriter is 9.6, while the price-to-earnings (PE) ratio is 8.5x. Its 10-day relative strength index (RSI) is 27.4.

Custodian Investment

Custodian Investment appears on the pick on the basis of its attractive fundamentals and for trading below its intrinsic value. The NPR of the company is 26.3, while the PE ratio is 5.3x. The RSI is 8.4.

Fidelity Bank

Fidelity Bank makes the selection for trading below its intrinsic value. The lender’s NPR is 16, while the PE ratio is 3.3x. Its RSI is 27.4.

READ ALSO: Cornerstone Insurances 2025s profit drops more than half as FX gains dry up

United Capital

United Capital makes the cut for its vibrant fundamentals. The NPR of the company is 51.2, while the PE ratio is 10x.

Aradel Holdings

Aradel Holdings features on the pick for its strong fundamentals. The energy company’s NPR is 57.4, while the PE ratio is 14.2x. The RSI is 17.


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Nigerian-British grandma Arrested with 13kg Cocaine Concealed in Plantain Peels

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BY SUNDAY SAMUEL—At 67-year-old Nigerian-British grandmother, Mary Yetunde Barek, has been arrested by the operatives of the National Drug Law Enforcement Agency (NDLEA), after officers allegedly discovered 13kg of cocaine concealed in fake plantain peels hidden among food items in her luggage at the Murtala Muhammed International Airport (MMIA), Lagos.

The suspect who works as a caregiver in the United Kingdom was arrested at the departure hall of terminal 2 of the Lagos airport while attempting to board a Virgin Atlantic airline flight to London on Sunday 28th June 2026. A thorough search of her bags resulted in the discovery of 31 big wraps of cocaine which were packaged to appear like plantain hands, weighing a total of 13 kilograms. In her statement, the elderly woman admitted full ownership of the recovered cocaine exhibits.

Meanwhile, a sting operation in Ekwusigo Local Government Area of Anambra State on Monday 29th June 2026 has resulted in the arrest of a 45-year-old PhD student at the University of Putra, Malaysia, Nwabueze Felix Onyeka over the seizure of 5.80 kilograms of cocaine concealed in walls of nine cartons of Orijin bitters, a consignment that was part of a consolidated cargo heading to Kuala Lumpur, Malaysia.
The arrest of Nwabueze in Anambra state followed the interception of 36 parcels of cocaine, with a gross weight of 5.80 kilograms, concealed within the walls of the herbal drink cartons. Four suspects initially arrested in parts of Lagos during investigations include: the cargo agent, Alalade Taiwo Azeez; the driver who conveyed the consignment to the cargo agent, Ndem Ogbonna Kelechi; a trader at ASPANDA market, Trade Fair Complex, Lagos who handed over the consignment to the driver for delivery to the cargo agent, Okeke Tochukwu Chimezie and an accomplice who supplied the cartons of Origin bitters used in concealing the cocaine, Igwilo Chidi Henry. The efforts eventually paid off, leading to the unmasking of Nwabueze hiding in his village Aziora, Ozubulu, Anambra state as the leader of the syndicate.
In Taraba, NDLEA operatives acting on credible intelligence on Saturday 4th July arrested a suspect, Daniel Harrison Ugwuoke, 30, with 43,980 capsules of Tramadol concealed inside two vehicle fuel tanks along Zaki-biam road Wukari Local Government Area of the state, while coming from Onitsha, Anambra state.
Two suspects: Boniface Agu, 65, and Monday Nwaeze, 50, were arrested in possession of 1.7 kilograms of methamphetamine by NDLEA officers on Thursday 2nd July during a raid operation at Gwantu, Gwantu LGA Kaduna state, while a 65-year-old suspect Francis Ifara Eja was nabbed with 231.7kg skunk at Ikwo, Ebonyi state on Saturday 4th July. Similarly, a 75-year-old grandpa Alhaji Babani was arrested in possession of 15kg skunk at Kurgwi, Qua’anpan LGA, Plateau state on Friday 3rd July.
In Gombe, NDLEA operatives acting on credible intelligence on Wednesday 1st July arrested the duo of Dahiru Mohammed, 65, and Isiya Lawan, 36, at Kuri village, Yamaltu- Deba LGA, where they were found with 587 blocks of cannabis sativa, weighing 556 kilograms.
With the same level of dedication, Commands and formations of the Agency across the country continued their War Against Drug Abuse (WADA) sensitization activities in schools, worship centres, work places and communities among others in the past week. These include: WADA enlightenment lecture to students and staff of Girls Secondary School, Abagana, Anambra; Government Technical College, Obe, Enugu; Adeola Odutola College, Ijebu Ode, Ogun state; and FCE Staff Demonstration School, Kabuga, Kano state, among others.
While commending the officers and men of MMIA, Taraba, Kaduna, Ebonyi, Plateau, and Gombe Commands for the arrests and seizures, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) noted their drug supply reduction efforts balanced with WADA sensitization activities while he charged them and their compatriots across the country to continue to raise the operational bar.

The post Nigerian-British grandma Arrested with 13kg Cocaine Concealed in Plantain Peels appeared first on Business Today NG.

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