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NITDA debunks association with online earning platform demanding payment

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The National Information Technology Development Agency has denied any affiliation with an online earning and marketing platform known as CPM. This rebuttal follows reports that the platform was demanding money from users to repair its allegedly hacked systems.

The agency issued the disclaimer in a statement signed by its Director, Corporate Communications and Media Relations Department, Hadiza Umar, on Monday, describing the reports as false and misleading.

According to media reports, subscribers via the platform operators reported that their systems had been hacked and that additional payments were required from subscribers to resolve the issue and recover funds.

NITDA allegedly was helping them to resolve the issue and that subscribers needed to make additional payments to support the process.

NITDA debunked those reports dissociating itself from CPM, noting that the agency, as a government agency, did not request money.

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“NITDA wishes to categorically state that these claims are false and misleading.

“As a government agency and Nigeria’s Information Technology regulator, NITDA does not request or collect money from citizens to provide incident response support, recover funds, or assist private entities in resolving cybersecurity incidents,” NITDA said.

The agency alleged that the efforts of the so-called CPM to disguise itself as NITDA indicated possible social engineering and fraudulent activity. It said the efforts targeted exploiting affected individuals under the pretence of resolving a cybersecurity incident or recovering lost investments.

NITDA warned Nigerians against making financial payments to any bodies or organisations that claim NITDA requires such payments for operations.

“Members of the public are therefore strongly advised to exercise caution and avoid making any additional payments to any individual, group, or platform claiming that such payments are required by or connected to NITDA.

READ ALSO: NITDA, IDCA partner to transform Nigeria’s digital economy

“The reported pattern may indicate possible social engineering or fraudulent activity aimed at exploiting affected individuals under the guise of resolving a cybersecurity incident or recovering lost investments,” the agency said.

NITDA said Nigeria should exercise caution when dealing with online investment and trading platforms and must avoid sending additional funds in an attempt to recover previous investments or losses.

The agency added that online users must verify any claims of government involvement directly through official channels and refrain from sharing sensitive personal or financial information with unverified entities.

The regulator reiterated that Nigerians must promptly report suspicious cyber-related activities to the appropriate authorities to contain increasing risks of online attacks and fraud.

“NITDA remains committed to promoting cybersecurity awareness and protecting the public against cyber-enabled fraud and deceptive online activities.”


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Zamfara Police Overpower Armed Bandits in Forest Gun Duel, Rescue 3 Kidnap Victims

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BY SUNDAY SAMUEL—The Zamfara State Police Command says its continuous effort to rid the state of crime and criminality have paid off as a team of police operatives attached to the Violence Crime Response Unit (VCRU), rescued three kidnapped victims along Gurusu–Anka Road who were travelling from Bukuyum to Talata Mafara.

A statement by Yazid Abubakar, Zamfara State Police Public Relations Officer says operatives were swiftly mobilised after receiving a distress call indicating that a large number of armed bandits wielding sophisticated weapons had blocked the Gurusu–Anka Road and kidnapped three persons travelling from Bukuyum to Talata Mafara. The team trailed the armed bandits into a nearby forest. A gun duel subsequently ensued between the police operatives and the bandits. Through the effective deployment of tactical measures, the bandits were overpowered and forced to flee into the bush with suspected gunshot wounds.

As a result of the operation, all three kidnapped victims were successfully rescued unharmed. However, the bandits escaped with an Android phone belonging to one of the victims.

Efforts are currently ongoing to track and apprehend the fleeing suspects through the stolen phone and other intelligence-led strategies.

The Commissioner of Police, A.M Bello Zamfara State Command, commends the bravery and professionalism of the operatives involved in the operation and reassures residents of the Command’s unwavering commitment to protecting lives and property across the state.

The post Zamfara Police Overpower Armed Bandits in Forest Gun Duel, Rescue 3 Kidnap Victims appeared first on Business Today NG.

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Elon Musk becomes world’s first trillionaire as SpaceX IPO surges on debut

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Elon Musk, the world’s richest person, has attained trillionaire status after SpaceX, the rocket, AI and satellite communications company established by him, turned a soaraway success on its first trading day, surging 20 per cent to $2.1 trillion in valuation.

SpaceX’s shares closed at $161 on the Nasdaq on Friday, compared to its initial public offering (IPO) price of $135, making it the biggest-ever stock market debut.

The IPO had earlier raised $75 billion from investors and the underwriters of the transaction before the listing.

“Liftoff! First $SPCX trade complete,” Space X wrote on X (formerly Twitter), which Mr Musk also owns.

The 54-year old now has a total net worth of $1.1 trillion, according to the Bloomberg Billionaires Index, with its stake in SpaceX standing at 42 per cent or $767.1 billion as of Friday.

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SpaceX debuted with a valuation of around $1.8 trillion. Its valuation at the end of Friday’s trade makes it the sixth-largest publicly traded company in the United States.

Trading under the ticker symbol “SPCX,” SpaceX began trading shortly before noon, attracting strong investor demand.

The listing places SpaceX among the world’s most valuable companies, despite the firm reporting a loss of nearly $5 billion last year and generating significantly less revenue than many technology giants with comparable valuations.

“I gave SpaceX a 10 per cent chance of succeeding at all,” Mr Musk said shortly before the company was listed.

SpaceX, since its establishment in 2002, has evolved from an experimental rocket startup into a dominant player in aerospace, satellite communications, and AI-related infrastructure.

READ ALSO: Elon Musk announces formation of American Party

Starlink, its satellite internet business, has expanded SpaceX beyond rocket manufacturing into a broader technology and connectivity platform.

Mr Musk, who now controls several companies, including Tesla, SpaceX, xAI, and X, began building his wealth by co-founding Zip2 and PayPal.

After completing the acquisition of X in October 2022 in a deal worth $44 billion, Mr Musk introduced monetisation features on the platform, which contributed to the growth of his business empire.

After selling Zip2 and later PayPal, he reinvested much of his earnings into Tesla, SpaceX, and other ventures.

Mr Musk’s wealth is now nearly equivalent to the entire economic output of Switzerland or Poland.


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