By David Torough, Abuja

Nigerian banks have moved swiftly to contain the effects of a sophisticated global cyber campaign sweeping across sectors and continents, with industry sources assuring the public that the nation’s financial system remains strong, resilient and secure.

The campaign, described by analysts as one of the most coordinated waves of attacks in years, is neither peculiar to Nigeria nor limited to finance.

Organisations in telecommunications, healthcare, government, energy, technology and corporate registries across Europe, Asia, the Americas and Africa have been targeted by the same wave of intrusions, underscoring the borderless nature of modern cybercrime. The data is stark: CheckPoint, a leading international cybersecurity firm, reports a 115 per cent surge in attacks on the global financial sector last year, with organisations worldwide facing thousands of attempted intrusions weekly. The current campaign has been linked to threat actors that have struck more than 35 organisations across several countries and sectors.

Despite the onslaught, banking services and digital channels across Nigeria remain fully operational and customer deposits safe. Banks activated their incident response protocols as soon as reports emerged, working closely with regulators, law enforcement and international cybersecurity partners to investigate and strengthen their defences. Nigerian banks operate some of the most advanced cybersecurity infrastructure on the continent, backed by years of sustained investment in protecting customer information and assets. Experts note that resilience in an era of global cyber warfare lies not in immunity from attack, which no organisation can claim, but in the speed and rigour of response, and on that measure the industry has acted decisively and in full compliance with regulatory requirements.

The banking public is, however, urged to remain vigilant. Fraudsters often exploit moments of heightened attention with fake calls, text messages and emails. Customers should never divulge personal or banking information, including passwords, PINs, One-Time Passwords (OTPs), card details or Bank Verification Numbers (BVNs), to anyone over the telephone, however convincing the caller sounds; no bank will ever ask for these details. They should also avoid opening suspicious emails, clicking unfamiliar links or downloading attachments from unknown senders. Anyone who suspects foul play or unusual account activity should contact their bank immediately, and only through its dedicated official channels: verified customer care lines, official websites, mobile applications or branches.

As governments and corporations worldwide race to shore up their digital defences, the message from the Nigerian banking industry is one of calm and confidence: the system is safe, deposits are secure, and the institutions entrusted with the nation’s savings remain watchful and prepared.

By David Torough, Abuja

Dangote Petroleum Refinery has reduced the ex-depot prices of Premium Motor Spirit (PMS), popularly known as petrol, and Automotive Gas Oil (AGO), commonly known as diesel, in a move aimed at making petroleum products more affordable and supporting economic activities across Nigeria.

The new pricing, which takes effect on Thursday, August 6, sees the ex-depot price of petrol reduced by N50 per litre from N1,215 to N1,165, while diesel has been cut by N80 per litre, dropping from N1,650 to N1,570 per litre.

Announcing the adjustment in a statement on Wednesday, the refinery said the price review reflects its ongoing commitment to improving energy affordability, expanding access to refined petroleum products, and delivering value to consumers, businesses, and other stakeholders.

According to the company, the latest reduction underscores its resolve to provide affordable, high-quality petroleum products while ensuring a stable supply through improved operational efficiency.

“The price review reflects Dangote Refinery’s ongoing efforts to enhance energy affordability, improve access to refined petroleum products, and support economic activities across Nigeria,” the statement said.

The refinery added that it would continue to pass on the benefits of operational efficiencies to consumers whenever market conditions permit.

Dangote Petroleum Refinery also reaffirmed its strategic role in strengthening Nigeria’s energy security by reducing dependence on imported petroleum products and increasing the availability of locally refined fuels. As Africa’s largest refinery, the company said it remains committed to supporting the country’s economic development through the supply of world-class petroleum products.

The latest price reduction comes as the 650,000-barrels-per-day refinery continues to expand its footprint in the domestic market. The adjustment also follows recent fluctuations in global crude oil prices, which initially eased after a temporary truce between Iran and the United States before renewed tensions affected market stability.

By David Torough, Abuja

The West African Examinations Council (WAEC) on Wednesday released the results of the 2026 West African Senior School Certificate Examination (WASSCE) for School Candidates, withholding 167,486 results over alleged examination malpractice while announcing that 61.

54 per cent of candidates obtained the minimum university admission requirement of five credits, including English Language and Mathematics.

Speaking at a news conference in Lagos, WAEC’s Head of National Office, Dr. Amos Dangut, disclosed that the withheld results represent 8.59 per cent of the candidates who sat for the examination, a decline from the 9.

7 per cent recorded in 2025.

Dangut said the affected results were linked to various reported cases of examination malpractice, including the increasing use of mobile phones in examination halls, organised cheating in some schools and activities of rogue websites. He said all reported cases were under investigation and would be reviewed by the appropriate WAEC committee before final decisions are taken.

He added that affected candidates could seek redress through the council’s complaint portal after the committee concludes its work.

According to WAEC, 1,959,668 candidates from 24,207 schools registered for the examination, while 1,950,726 candidates eventually sat for the tests conducted between April 21 and June 19, 2026. The examination was also administered to candidates in Benin Republic, Côte d’Ivoire and Equatorial Guinea where the Nigerian curriculum is in use.

Of those who sat for the examination, 953,459 were males and 997,267 were females.

The council announced that 1,200,514 candidates, representing 61.54 per cent of those who wrote the examination, obtained credits in at least five subjects, including English Language and Mathematics, qualifying them for admission into tertiary institutions. However, Dangut noted that the overall performance reflected a 1.42 percentage-point decline compared with the 2025 examination.

WAEC also disclosed that 1,834,695 candidates, representing 94.05 per cent of the total, had their results fully processed and released, while 116,031 candidates (5.95 per cent) still have one or more subjects undergoing processing due to unresolved issues requiring further verification.

The council assured affected candidates that efforts were ongoing to complete the processing and release the outstanding results within a few days.

Dangut described the 2026 examination as a landmark exercise, noting that WAEC successfully deployed both Computer-Based Testing (CBT) and the traditional Paper and Pencil Examination (PPE), making it the first examining body in Nigeria to implement CBT for school candidates on such a nationwide scale.

He also announced the introduction of a Digital Examiner Marking System and the discontinuation of Smart Identity Cards for result checking. Candidates can now generate electronic PINs through WAEC’s digital certificate platform to access their results, while digital certificates will be available within 48 hours and printed certificates after 90 days.

The council further revealed that 1,213 candidates with special needs participated in the examination, including visually impaired, hearing-impaired, physically challenged and mentally challenged candidates, all of whom were provided with appropriate support.

Despite challenges such as inflation-driven operational costs, logistics delays, late registrations and examination malpractice, Dangut maintained that the 2026 WASSCE was largely successful and reaffirmed WAEC’s commitment to strengthening the integrity of its examinations.

WAEC also confirmed the release of the results on its official X handle, directing candidates to generate their PINs through its website before checking their results on the council’s result-checking portal. Registration for the 2026 WASSCE for Private Candidates (Second Series) is ongoing, while preparations for the 2027 First Series examination will commence shortly.