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Bassey Otu, Cross River State Governor, on Tuesday presented a total budget of ?780.59 billion for the 2026 fiscal year to the State House of Assembly, describing it as a ‘Budget of Inclusive Growth’ designed to consolidate on the gains of his Administration’s People First philosophy.

Presenting the Appropriation Bill before lawmakers in Calabar, Governor Otu said ‘I approached the task with a profound sense of duty, obligation, and determination to the development of our dear state.’ He noted that the annual budget presentation transcends bureaucratic ritual, stressing that ‘it is a sacred social contract between government and the governed, a public declaration of collective intent to enhance the well-being of our people.’

Unveiling his 2026 fiscal vision, Governor Otu said the new budget was the outcome of ‘wide-ranging consultations with civil society, private sector players, NGOs, and the general public.’ He added that his administration would henceforth measure development through the Human Development Index (HDI) rather than GDP. ‘We will judge progress by how much better our people live, learn, and thrive,’ the governor declared, promising expanded access to education, healthcare, and electricity for rural entrepreneurs.

He announced a shift in development assessment from Gross Domestic Product (GDP) to the Human Development Index (HDI), stressing that 2026 would focus on expanding access to education, health, and social protection. ‘The impact of development must be felt in the lives of our people,’ he said. The governor further revealed plans to operationalise the Cross River Social Investment Programme (CRSIP), designed to empower the elderly, women, youth, and vulnerable groups through a non-political, multi-sectoral framework.

Governor Otu said the proposed ?780.59 billion budget marks a 17% increase over 2025, with ?519.6 billion (67%) earmarked for capital expenditure and ?260.96 billion (33%) for recurrent spending. The sectoral distribution, he said, allocates ?421 billion to the economic sector, ?163 billion to social services, ?164 billion to general administration, ?28 billion to law and justice, and ?3.6 billion to regional development. ‘This budget,’ Governor Otu concluded, ‘is designed to strengthen our revenue base, drive human capital development, and secure a prosperous, peaceful, and resilient Cross River State.’ Reflecting on the 2025 fiscal performance, the governor stated that last year’s ‘Budget of Sustainable Growth’ was revised from ?538 billion to ?642 billion following improved revenue inflows and prudent management of resources. ‘We cannot spend an extra kobo without the legal instrument of appropriation,’ Otu declared, underscoring his administration’s commitment to transparency and ethical governance.

He explained that the supplementary budget became necessary due to urgent road repairs, rural electrification, and counterpart funding for national and international projects. ‘We also introduced the Maternal and Neonatal Mortality Reduction Initiative to combat preventable deaths among mothers and infants – a project that required immediate funding,’ he added.

Highlighting the 2025 budget performance, Governor Otu described it as ‘one of the best in the country.’ He said: ‘Our budget is performing optimally. Cross River ranked number one nationwide in routine immunization coverage with 95%, a clear proof that our People First agenda is working.’ He listed major road projects including the Adiabo-Ikoneto Road, the dualization of the Esuk Utan-Depot Road, and the Yahe-Ebo-Wanakom-Wanikade axis as evidence of infrastructure-driven progress.

The governor also pointed to remarkable gains in power and health sectors. ‘We have lit up our cities with solar-powered streetlights and energized rural communities through solar mini-grids,’ he said. He added that health facilities across all three senatorial districts had been renovated and equipped, while the new General Hospital in Ikom nears completion. ‘Every School of Nursing in Cross River has now met accreditation standards,’ he affirmed.

Governor Otu further stated that work on the Obudu Passenger and Cargo Airport had reached an advanced stage, while pre-construction negotiations for the Bakassi Deep Seaport were ongoing. ‘We are not just providing infrastructure,’ he said with conviction, ‘we are building the future, restoring Cross River as a maritime and logistics hub in West Africa.’

On the administrative front, the governor announced that his government had implemented the national minimum wage across all tiers, cleared the first tranche of gratuities for retirees, and commenced the second. He also revealed that ‘fibre optic connectivity has been extended across MDAs for efficient service delivery,’ while land administration had been digitized with resumed issuance of Certificates of Occupancy.

Some years back, I greeted a senior German colleague with a polite, almost deferential handshake with my eyes lowered and voice softened. A classic Yoruba show of respect, I thought. He, on the other hand, thought I was being sneaky. That moment taught me something profound: communication isn’t just about language; it’s about context. This particular experience led me into the rabbit hole of reading extensively on the role of culture in communication. I found one particular book titled The Culture Map by Erin Meyers quite compelling and would share some of the learnings therefrom.

Nigeria, as a country, is considered a high-context society alongside Indonesia, Japan, France, Brazil, India, China and tonnes of other countries on the communication scale. We don’t say too much. We leave a lot of things unsaid when communicating and expect our counterparty to figure things out. This is a major departure from Western countries from Anglo-Saxon cultures, like the US, Germany, the Netherlands, etc. They don’t mince words. They take your words at face value. They are straight to the point. They are not trying to figure you out. They believe that what you said is what you meant. No one has time to second-guess what’s left unsaid.

In low-context cultures, people are more likely to keep things in writing and even do recaps at meetings. No room for second-guessing. In contrast, high-context societies build mutual trust more around oral communications. Ever wonder why our people here may sometimes find it weird when you want to commit your conversations to writing? More like, ‘Hey, don’t you trust me to keep my word?’

There is a theory that the more homogeneous a people are, the higher context they are in their language and culture. Certain shared history and cues and body language feed into their communication channels. From generation to generation. And the more diverse they are, the less the need for contextual communication. So, to avoid confusion in such a society, everyone speaks in plain language. Nothing is hidden in body language cues.

Understanding this as a manager or even as a regular guy can save you from a lot of unnecessary drama or trouble. It can help you build cultural resilience. Being an agile communicator is a valuable skill. Getting a grip on differences in cultural context can help improve your communication effectiveness.

For instance, when you speak to friends and colleagues in low-context societies like the US, Germany, Canada, etc., you should try to be as clear and straightforward as possible. And when you communicate with those from high-context societies like Japan, China, India, Kenya and others, you don’t just listen to what is said but also what is meant. It requires that you listen more with rapt attention, ask clarifying questions, and watch out for body language cues and the tone of language used.

If you’re a low-context person, know that a higher-context person isn’t trying to be evasive or mislead you by not saying it all. That’s the communication style that s/he is culturally accustomed to. And when speaking to him, he reads between the lines and watches your cues to make sense of the unsaid. You need not repeat yourself too often. He can easily make sense of what is said and unsaid. On the other side of the coin, however, if you’re a high-context person engaging a low-context person, be clear and succinct. Understand that your silence is taken as what it is. Silence. Don’t read between the lines. State clearly what you don’t understand. Don’t make assumptions on their behalf in the guise of politeness. This and more are how you can avoid frustration and misunderstanding in communications.

This skill becomes much more valuable when you have to work with teams and colleagues across multiple cultures and countries or do business with customers and suppliers from different countries. So, please pay attention lest you get frustrated with communication gaps.

On Tuesday, Wole Soyinka disclosed that his entry into the United States of America had become impossible following a visa revocation. The letter, dated October 23 2025 and issued by the Non-Immigrant Visa (‘NIV’) Section of the U.S. Consulate in Lagos, states that his previously held non-immigrant visa has been revoked in accordance with U.S. Department of State regulations.

Speaking from a media conference at Kongi’s Harvest Gallery, Freedom Park, Lagos Island, Soyinka said he was notified by the Consulate but remains unaware of any act on his part that would justify such action. ‘I have no visa; I am banned, obviously, from the United States. And if you want to see me, you know where to find me,’ he told journalists. According to the letter shown to reporters, the revocation was effected pursuant to regulatory authority but no reason was stated. Soyinka said he has no criminal record, felony or misdemeanour, and he is ‘still looking into my past history. I don’t have any past criminal record or even a felony or misdemeanor to qualify for the revocation.’

He affirmed his decision to hold the press conference so that individuals in the U.S. expecting his participation in events will not expend time or resources in vain. ‘It is necessary for me to hold this conference so that people in the United States who are expecting me for this event or that event do not waste their time,’ he said. Soyinka’s visa was classified under the B1/B2 category (temporary non-immigrant visa for business or tourism). Previously, in September 2025, he publicly declined an invitation by the U.S. Consulate in Nigeria to attend a visa ‘re-interview’ scheduled for September 11, characterising the letter as bizarre and initially mistaking it for a scam. Sources show he described the process as one he had ‘more important things to attend to than chase visas for places where I am not wanted.’ He expressed surprise that the revocation letter provided no prior indication or explanation, observing: ‘I’m still looking into my past history. I don’t have any past criminal record or even a felony or misdemeanor to qualify for the revocation.’

At this time, the U.S. Consulate in Lagos has not publicly commented on the revocation or forwarded a reason for its action. The effect for Soyinka is that any planned travel to the United States must now be reconsidered unless the revocation is reversed.

As 5G-enabled devices flood the market, the infrastructure to support them remains inadequate, threatening the nation’s digital transformation goals, a new report has revealed.

Across urban hubs such as Lagos, Abuja, and Port Harcourt, Nigerians are snapping up 5G-capable smartphones at an unprecedented rate.

A global forecast projects a 13.2 percent growth in 5G device sales in 2025, following a 16 percent surge in 2024.

In the Middle East and Africa region, smartphone shipments grew by three percent year-on-year in the second quarter (Q2) of 2025, fueled by promotions and improving economic conditions.

Affordable 5G-compatible phones from brands such as Xiaomi and Samsung now account for nearly half of new smartphone purchases in Nigeria.

However, the reality on the ground tells a different story. Only 12.7 percent of Nigeria’s mobile towers are 5G-enabled, and coverage is confined to select urban pockets, leaving rural areas and even some state capitals disconnected.

The Nigerian Communications Commission (NCC) estimates that 5G services reach less than five percent of the population, compared to 45 percent for 4G.

A recent NCC-Ookla study revealed a 70.9 percent 5G coverage gap in Lagos, where 41,057 5G-capable devices were detected but unable to connect to 5G networks. In Abuja, a 65.6 percent gap affects 16,143 devices.

The implications are significant for Nigeria’s digital economy. Lagos, a metropolis of over 20 million and Africa’s largest city, is a hub for tech and innovation, yet its limited 5G access stifles growth in sectors such as real-time data analytics, remote work, and digital commerce.

In Abuja, the nation’s capital, the coverage gap threatens Nigeria’s aspirations to lead Africa’s digital economy. ‘Device adoption reflects confidence in 5G’s potential, but without robust network expansion, we’re creating a bottleneck,’ warned Jide Awe, a telecom analyst.

Awe noted that Nigeria risks lagging peers like South Africa, where 5G coverage is more widespread despite similar economic challenges.

While 5G-enabled phones are affordable, it is still out of reach of many Nigerians. Karl Toriola, CEO of MTN Nigeria, highlighted the affordability of 5G smartphones as a critical issue, with prices ranging from N120,000 ($75) to over N2 million ($1,250), out of reach of the 88.4 million Nigerians living in extreme poverty.

‘The biggest barrier is the cost of handsets,’ Toriola said, noting MTN’s collaboration with the Ministry of Communications to promote local smartphone assembly and offer financing through its MoMo platform.

Meanwhile, operational challenges such as 1,100 daily fibre cuts, 545 access denials, and 99 cases of generator and battery theft, as reported by the NCC, severely disrupt network reliability.

Regulators have unveiled reforms to tackle these challenges. A 50 percent tariff hike approved in January 2025 has unlocked $1 billion in equipment investments since June, aimed at upgrading base stations and expanding fibre backbones.

The NCC also signed a Memorandum of Understanding with federal and state ministries to curb disruptions from road construction and vandalism, designating telecom infrastructure as Critical National Infrastructure (CNI). ‘Cutting fibre is now a criminal offence, which will safeguard our investments,’ said Dinesh Balsingh, CEO of Airtel Nigeria.

Meanwhile, both MTN and Airtel are leveraging technology to optimise 5G deployment.

Yahaya Ibrahim, MTN’s chief technical officer, emphasised AI-driven demand planning and fault detection to prioritise high-demand urban centers such as Lagos and Abuja. ‘We won’t deploy 5G where there are no 5G handsets,’ Ibrahim said, noting that only 4.9 million 5G-capable devices, mostly iPhone 13 models and above, are in use nationwide.

Meanwhile, Airtel is accelerating its 5G rollout in cities, using AI to monitor billions of daily network interactions and deploying small-cell solutions such as mini antennas in dense areas like Computer Village and Victoria Island. ‘We are focusing on customer experience APIs to pinpoint weak spots and act fast,’ Balsingh explained.

Airtel is also expanding its fibre infrastructure to support 5G, partnering with satellite providers such as Starlink and OneWeb to bring 4G and 5G to rural areas. Over the past two years, the company relocated 3,000 kilometers of fibre to boost resilience.

However, rural regions remain underserved, with network speeds up to 50 percent slower than in urban centers, exacerbating Nigeria’s digital divide.

Operators are calling for government subsidies to offset costs. ‘Expanding access to high-speed networks is critical for Nigeria’s digital transformation. No one should be left behind,’ an NCC spokesperson told BusinessDay.

A new socio-political organisation, E’Ekpede Initiative, has been officially launched in Uyo with the aim of mobilising grassroots support for the re-election of President Bola Tinubu, Senate President Godswill Obot Akpabio and Governor Umo Eno in the 2027 General elections.

Briefing journalists at the Nigeria Union of Journalists (NUJ) Press Centre, Information Drive, Uyo, Kufre Inima, Chairman of the Board of Trustees of the Initiative, described the movement as ‘a child of necessity’ – conceived out of the desire to promote unity, continuity, and renewed hope in Akwa Ibom State and across Nigeria.

According to Inima, the E’Ekpede Initiative was established to ‘push the right narrative, deepen democratic values, and provide clear direction for the people of Akwa Ibom State’ while countering political misinformation and divisive tendencies. ‘Our mission is unmistakable. we are poised to promote and support the reelection of our President, Bola Ahmed Tinubu; our Senate President, Godswill Akpabio; and our Governor, Pastor Umo Eno.

‘This is not out of selfish interest but in the overall interest of our people – to ensure continuity, stability, and accelerated development’, he said.. He noted that the group remains committed to sustaining the current developmental trajectory of both the State and the nation through civic engagement, voter enlightenment, and grassroots mobilisation.

The group commended President Tinubu for implementing policies that empower State Governments to drive grassroots development, describing his Renewed Hope Agenda as a framework that has strengthened economic stability and enhanced state autonomy. It also lauded Governor Umo Eno for his empathetic and people-centred leadership, particularly in rural transformation, job creation, and inclusive governance.

Inima further observed that with Akwa Ibom State now politically aligned with the Federal Government, the State stands to enjoy greater federal presence and developmental opportunities.

Responding, Nsibiet John, Akwa Ibom State NUJ Chairman, urged the group to maintain close collaboration with journalists in the State to ensure accurate and responsible reportage.

Passengers travelling into and out of Nigeria would pay more for airfares following the introduction of extra $11.5 charge per ticket from December 1, 2025 by the Nigeria Civil Authority of Nigeria (NCAA).

The new levy is different from the $20 security levy introduced in 2010 by the apex body and other charges collected by the Federal Airports Authority of Nigeria (FAAN).

This new tax, which is also known as the Advance Passenger Information System (APIS).

In a notice to airlines, the NCAA stated that the levy is aimed at creating a ‘single window’ approach for all agencies at the airport, and the collection is expected to last for 20 years.

The NCAA stated that the system would help to track passenger movements, improve border control, and provide airlines with a cost-recovery mechanism for the system’s maintenance.

The initiative which is in partnership with the Nigeria Immigration Service (NIS), would streamline passenger clearance at Nigerian airports by collecting and processing passenger data before arrival, the NCAA said.

The memo further stated that , ‘The APIS charge will be collected as a point of sale and will be levied on all tickets issued from December 1, 2025, for each passenger departing from or arriving in Nigeria. The lifting airline is responsible for remitting the APIS charge to the NCAA.

‘Therefore, all airlines (including Nigerian carriers) operating international flights into and out of Nigeria are required to take immediate steps to update ticketing and reservation systems to reflect the new APIS charge, as invoicing for the charge will commence from 1st December 2025 for tickets issued to passengers from 01DEC2025 for travel to and from Nigeria.’

The NCAA however exempted infants, diplomats, airline crew on duty, transit/transfer passengers within 24 hours and involuntary re-routing due to technical problems or weather conditions, from the new levy. Information gathered indicated that the exempted class of passengers constitutes about 10 per cent of the total travelling public.

The Nigeria Investments and Securities Act (ISA) 2025, amended earlier in the year by the National Assembly, designed to strengthen the commodity trading environment, has been described as a major step in modernising and formalising the regulation of the commodity market in the country.

Under the amended law, the role of the Nigeria Commodity Exchange (NCX) has been significantly reinforced and formalised within a modernised, regulated framework, a development that will impact agriculture production across the value chain.

The NCX and its various trading floors have a history of underperformance, partially due to limited funding and inefficient management. Lack of public investment data may reflect the Exchange`s low profile since its establishment in 2006, industry experts said.

President Bola Ahmed Tinubu had appended his signature to the new Act enacted by the National Assembly in the first quarter of the year (March 2025), which repeals and replaces the 2007 version. The amended Act explicitly empowers the Securities and Exchange Commission (SEC) to oversee and regulate all commodities exchanges, a development that now makes the agency the cornerstone of the regulatory framework for commodities trading in the country.

Across sections of commodity brokers in Kano, who confided information to BusinessDay, on the amended Act, said the law has expanded the definition of ‘securities’ to explicitly include commodities, futures, options, and derivatives.

One of the industry experts, Ali Ahmad Ali, CEO, Ahalson General Enterprises Limited, a commodity broker based in Kano, noted that the Act has placed under the purview of the SEC a framework for the regulation of commodities exchanges and their registration, as well as made provisions for self-regulation by the commodities exchanges.

SEC, as an apex regulator of Nigeria’s capital market, will now be overseeing and supervising all commodities exchanges, including the NCX, as well as regulating exchanges, approving operators, setting capital requirements, and issuing rules to maintain market integrity, Ali said.

‘The SEC also now have the power to cancel or suspend the license of a market operator; as well as empowered to collaborate with the Central Bank of Nigeria (CBN) in regulating all matters related to financial market settlement and stability.

‘The amended Act rules against fraud and market manipulation, such as provisions on insider dealings and fraudulent inducement, and provides guidelines on settlement procedures and timelines for commodities spot market’, he explained.

Evolution of the regulatory landscape:

Nigeria’s legislative framework for commodities trading has evolved. The SEC has developed regulatory structures in phases, such as setting up a Technical Committee on Commodities Trading Ecosystem in 2017 to improve the market.

Abubakar Maidawa, a commodity broker, based in Funtua, Katsina state, said the role and function of the NCX’s trading platforms under the new law has been enhanced, as the ISA 2025 provides statutory recognition for the commodity exchanges, and categorizes them as either ‘composite’ or ‘non-composite’ (mono-product) exchanges, ensuring they operate within a clear, SEC-regulated structure.

Abubakar stated that with the amended law, NCX is now fully integrated into the official Nigerian capital market ecosystem. Noted that with the SEC’s expanded authority, the agency now faces stricter compliance responsibilities. ‘The law imposes penalties and empowers the SEC to suspend or fine exchanges that do not comply with regulatory directives, which was less potent under the old legislation. The law will make NCX a transparent and organised marketplace, as well as provide a structured and secure platform for buyers and sellers of agricultural and extractive commodities.

‘The amended act is also expected to foster market stability and price discovery, leading to more efficient and fair transactions, as NCX is now responsible for implementing a comprehensive system for testing and grading commodities to ensure they meet high-quality standards.

‘This creates trust, consistency, and a reliable valuation mechanism in trade. Under the ISA 2025, the NCX is expected to deploy the use of electronic warehouse receipts for commodities stored in SEC-registered warehouses. These receipts serve as collateral, allowing farmers to access financing from banks more easily. The law explicitly provides a legal framework for the trading and use of these receipts.

‘The Act now places NCX in a position to help market participants, particularly smallholder farmers, manage price volatility and other risks through its structured trading sessions and contracts that will ensure transparency and efficient settlement, and reduce the risk of distress selling and provide a more secure trading environment.

‘With the ISA 2025 now covering commodities, futures, and derivatives, the NCX is positioned to grow its offerings beyond the spot market. This will provide more sophisticated risk management tools for traders and investors, attracting greater investment’, he explained.

Broader economic role:

The NCX’s revitalised role under the new law is key to Nigeria’s goal of diversifying its economy away from oil through creating a robust, regulated market for agricultural and mineral resources, which will attract more private sector investment into these key sectors.

As a national export trading platform, NCX is a key partner in the Federal Government’s initiative to establish a National Export Trading Company (NETC), and the law will stimulate partnerships with private players to streamline Nigeria’s commodity exports by providing services like aggregation, modern storage, quality control, and market access for SMEs and large corporates. The amended Act will enhance access for smallholder farmers through partnerships and technology (such as its Smallholder Farmer Management System), as it empowers NCX platforms to connect smallholder farmers to the market, improve their access to finance, and implement a system that reduces post-harvest losses. History of NCX:

NCX is formerly known as Abuja Security and Commodity Exchange, a federal government-established market for sellers and buyers of agricultural commodities and solid mineral products. Before now was in a state of dormancy due to a lack of experts attributed to inadequate legislative instruments to regulate its operations.

The Exchange, which was officially inaugurated in 2006, almost the same time as the Ethiopia Commodity Exchange (ECX), remained, despite having functional warehouses in seven states of the federation, as well as a multi-million-naira automated trading platform in the commercial city of Kano.

As a result of the lack of legislative backup, Nigeria, which is one of the hubs of commodities production in Sub-Saharan Africa (SSA), continued to trade the bulk of the commodities produced in the country, in the open market, where major Processors, who are dominantly foreign firms, leverage their advantage.

Several tons of locally produced commodities, namely: Maize, Sorghum, Millet, and Sesame, are being openly traded daily in markets, such as Wanke, Shinkafi, Kasuwar Daji, and Gada Maiwa, which are situated in the Northwest state of Zamfara, one of the grain-producing belts in northern Nigeria.

Commodities, such as soya bean, sunflower, maize, sorghum, millet, and sesame, are also openly traded informally in ADP Premises in the Northeast state of Bauchi, while commodities, like Rice, Cocoa, Maize, Cashew, and Serami Seed, are also being traded informally in states such as Ekiti, Kogi, and Ebonyi.

Nigeria has begun exporting locally manufactured solar panels to Ghana, a landmark step in the country’s push to become a renewable energy manufacturing hub for West Africa, according to Bayo Adelabu, minister of power.

Speaking at the Nigeria Energy Forum 2025 in Lagos, Adelabu said the exports mark ‘the beginning of Nigeria’s participation in regional renewable energy markets,’ following the commissioning of new solar manufacturing capacity expected to produce up to four gigawatts annually.

‘With this scale of renewable energy production coming online, Nigeria is not only positioned to achieve its domestic energy transition targets, but also to serve regional power markets, which we recently started doing with the export of Nigeria-made solar panels to Ghana,’ Adelabu said. The announcement underscores Nigeria’s growing ambition to diversify its energy mix and strengthen its industrial base under President Bola Tinubu’s ‘Renewed Hope Agenda,’ which prioritises innovation, local content, and economic self-reliance.

Adelabu noted that the development stems from partnerships sealed at the 2025 Nigerian Renewable Energy Innovation Forum, which attracted domestic and international investors to the country’s nascent clean energy manufacturing sector.

The move comes as Nigeria’s government pursues wide-ranging reforms across its power sector, including the unbundling of the Transmission Company of Nigeria, expansion of grid capacity, and the rollout of a national metering initiative, aimed at improving reliability, attracting private capital, and promoting local production. To date, Nigeria has mobilised more than $2 billion through global development partners, including the World Bank, the Japan International Cooperation Agency (JICA), and the Nigeria Sovereign Investment Authority (NSIA), to fund renewable energy access and off-grid electrification projects.

Adelabu said that beyond meeting domestic needs, Nigeria’s growing clean energy manufacturing capability could make it a key supplier of renewable energy technologies across West Africa. ‘We are open to strategic partnerships to mobilise the necessary investments and unlock this potential,’ he said.

The minister emphasised that improved investor confidence, policy reforms such as the Electricity Act 2023, and a clear energy transition framework have set the stage for sustained growth in Nigeria’s power sector.

As part of broader regional integration efforts, Nigeria plans to leverage its manufacturing base to supply components for solar and mini-grid projects across the Economic Community of West African States (ECOWAS), aligning with the bloc’s goal of expanding electricity access and reducing fossil fuel dependency. ‘The opportunities before us are immense,’ Adelabu told investors. ‘Through sustained investment, forward-thinking innovation, and strong partnerships, we can power Nigeria’s journey toward a brighter, more energy-secure future, and lead Africa’s renewable revolution.’

A 183 million passwords have been leaked online after cybercriminals shared stolen data from millions of web users, including Gmail accounts, on hacker forums and messaging platforms.

This is a discovery by analysts from cybersecurity firm Synthient, who uncovered 3.5 terabytes of stolen login information being circulated on dark web marketplaces, Telegram channels, and social media sites.

Troy Hunt, founder of the cybersecurity tracking site HaveIBeenPwned.com, said the leaked email addresses and passwords are genuine. Hunt’s team collaborated with Synthient to verify the scale of the breach.

‘This event is not a single data breach but rather an aggregation of millions of stolen credentials from infostealer malware. It underscores the importance of avoiding shared credentials and maintaining strong visibility over both personal and business email security,’ said Michael Tigges, a senior security operations analyst at Huntress.

‘Prevention is the best defence,’ Tigges said. ‘Strong, unique passwords and awareness of download sources go a long way in keeping your data safe.’

The data, described as ‘stealer logs,’ was harvested using malicious software known as infostealers, which secretly record email addresses and passwords stored in browsers, and security experts warn Gmail users and others to check if their credentials have been compromised

Users can find out whether their passwords or email addresses were exposed using the HaveIBeenPwned website, which allows people to check against known data breaches safely. By entering a password into the site’s tool (without needing to provide an email), users can see if it has appeared in any leaks, including this latest trove.

The site also offers a separate checker for email addresses to see if they’ve been part of major breaches.

Cybersecurity experts advise users to change their passwords immediately, starting with their primary email accounts, as access to these can unlock other sensitive accounts like banking or social media. They also recommend enabling multi-factor authentication (MFA) for added protection.

Experts warn against storing passwords in web browsers, since malware can easily extract them. Instead, users are encouraged to use dedicated password managers, which can securely store credentials and alert users if their information appears in future breaches.

Keeping antivirus software updated and downloading only from trusted sources can reduce the risk of infection by infostealer malware. The leak serves as a stark reminder of the growing sophistication of cybercriminals and the importance of maintaining digital hygiene to protect personal and business information online.

After two consecutive years of decline, Africa’s start-up funding is rebounding strongly in 2025, signalling renewed investor confidence and a revival of the continent’s venture ecosystem, according to the latest report by Africa: The Big Deal.

As of October 26, African start-ups had raised $2.66 billion, already surpassing the $2.3 billion recorded in all of 2024, marking the first year-on-year growth since 2022.

The rebound was driven by a flurry of large late-stage and mega-round deals in the third quarter, which closed at $2.21 billion, just shy of 2024’s full-year total. October alone added roughly $450 million, boosted by Spiro’s $100 million raise and Moniepoint’s $90 million Series C top-up, among others.

The report noted that Africa’s start-up ecosystem appears to have regained its footing after a difficult funding climate in 2023 and 2024. It suggested that start-ups are now on course to surpass 2023’s total of $2.98 billion, needing to raise only about $320 million more before the end of the year.

This is realistic given the strong momentum recorded so far, the historical pattern of year-end deal closures, and expectations that mobility company Moove will soon finalise an equity round reportedly worth $300 million, alongside plans to raise up to $1.2 billion in debt.

While some observers have argued that Africa’s 2025 funding upswing is being driven largely by debt, the report emphasises that equity remains a dominant force.

Start-ups have already raised $1.45 billion in equity this year, only $100 million short of 2024’s total and close to the $1.75 billion achieved in 2023. This suggests that the current rebound reflects genuine investor confidence rather than an artificial boost from debt inflows.

However, the report also underscores that funding remains highly concentrated in a handful of markets. The so-called Big Four: Kenya, South Africa, Egypt, and Nigeria – collectively account for about 83 percent of total start-up funding in 2025, a figure that has remained largely consistent over the past five years.

Moreover, roughly three-quarters of all funding went to just five cities: Cairo, Cape Town, Johannesburg, Lagos, and Nairobi. In contrast, 20 African countries have recorded no significant funding activity since 2019, underscoring the continent’s uneven investment landscape.

Notably, the internal dynamics among the leading markets are shifting. Kenya currently leads in total funding, followed by South Africa, Egypt, and Nigeria.

When only equity funding is considered, South Africa takes the top spot, followed by Egypt, Nigeria, and Kenya. This balance signals a gradual diversification within the dominant group, even as Central Africa remains under-represented in venture activity.

Africa’s venture funding rebound marks a turning point for the continent’s innovation economy, which has weathered global investor caution, rising interest rates, and inflationary pressures. With momentum building, the report averred that Africa’s start-up ecosystem could close the year above the $3 billion mark, reaffirming its long-term potential.

After two years of contraction, the numbers tell a clear story: Africa’s start-up ecosystem is back on a growth trajectory,’ the report stated.