Day: May 14, 2017

Massive Cyberattack Hits 99 Countries

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A massive ransomware campaign appears to have infected a number of organisations around the world, with cases reported in the UK, US, China, Russia, Spain, Italy, Vietnam and many others. Cybersecurity researchers said they have detected 36,000 instances of the ransomware called WannaCry virus and variants of the name. Ransomware is a type of malicious software designed to block access to a computer system until a sum of money is paid. It installs covertly on a victim’s device, which could be a computer, smartphone or wearable device. It then either…

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How Nigeria ‘lost N2 trillion to poor metering of oil wells’ in two years

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Nigeria may have lost about $64 million ( about N2 trillion) between the second quarter of 2015 and the first quarter of 2017 to poor metering of  its oil wells. As part of the efforts to curb corruption in the oil and gas industry, former administration of President of Goodluck Jonathan  had approved the 2014 Weight and Measures Act  which marked the commencement of the  computerised metering system of oil wells under the Ministry of Industry, Trade and Investment in 2015. Nigerco Nigeria Limited was subsequently appointed the consultant to…

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North Korea launches what appears to be a ballistic missile

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US PRESIDENT Donald Trump has called North Korea a “flagrant menace” as world leaders condemned the rogue nation’s latest ballistic missile test. Seoul, South Korea and Japan also spoke out against the missile launch, which came just days after South Korea’s new president Moon Jae In was inaugurated in Seoul. The flight “was not consistent with an intercontinental ballistic missile”, the US Pacific Command said. A statement from US President Donald Trump’s White House called North Korea a “flagrant menace” and urged “far stronger sanctions” against the reclusive nation. “With…

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