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ngCERT Alerts Nigerians To Android Malware Hijacking WhatsApp, Banking Apps

by Caleb Owaise
4 months ago
in Lead-In
Reading Time: 2 mins read
ngCERT Alerts Nigerians To Android Malware Hijacking WhatsApp,Banking Apps
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The Nigeria Computer Emergency Response Team (ngCERT) has issued a high-level security alert, warning Nigerians of a dangerous Android malware campaign targeting WhatsApp, banking applications, and personal financial data.
The malware, known as Tria Stealer, is highly evasive and sophisticated, with the ability to hijack WhatsApp and Telegram accounts, intercept One-Time Passwords (OTPs), and steal sensitive personal information from victims.
According to ngCERT, the malware is being distributed through fake wedding and event invitations shared on messaging platforms like WhatsApp and Telegram. Unsuspecting users are lured into downloading an infected Android Package Kit (APK) file, which, once installed, disguises itself as a legitimate system application to evade detection.
Once active, Tria Stealer immediately requests access to sensitive phone functions, including SMS, call logs, and app notifications, allowing it to begin harvesting critical data. The stolen information is then transmitted to a remote Command and Control (C2) server operated via Telegram bots.
The malware is capable of intercepting OTPs to hijack user accounts, impersonating victims to request fraudulent money transfers, accessing financial and banking apps, stealing login credentials for identity theft, and installing additional malicious software without the user’s knowledge.
According to ngCERT, the malware employs advanced encryption and obfuscation techniques to avoid detection by antivirus software and automatically reactivates after device restarts to maintain control.
It further stated that both individuals and organisations are at risk, particularly those who use mobile messaging platforms for personal or business communications,adding that because the malware impersonates trusted contacts, even security-conscious users can easily fall victim.

To mitigate the threat, ngCERT advised Nigerians to download apps only from trusted sources like the Google Play Store, avoid clicking unsolicited invitations or app installation requests even from known contacts, enable two-factor authentication on all messaging and banking applications, install and regularly update antivirus software on mobile devices, and limit app permissions, particularly for apps not obtained from official app stores.

For businesses and organisations, ngCERT recommended staff awareness campaigns on the dangers of APK-based malware, educating employees about the risks of clicking links in messaging apps, deploying mobile threat detection software for executives and key personnel, using Mobile Device Management tools to enforce security policies across corporate devices, and monitoring network traffic for suspicious connections to known malware control servers.

ngCERT emphasised that while personal vigilance is critical, organisations must also strengthen enterprise mobile security frameworks to protect against increasingly sophisticated cyber threats.

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Providus Bank has acquired the 34% equity stake held by the Asset Management Corporation of Nigeria (AMCON) in Unity Bank Plc, marking a decisive step toward the long-anticipated merger between the two financial institutions. The deal, valued at about N6.5 billion, saw AMCON offload its decade-old holding in Unity Bank to Providus at a price of N3.18 per share, representing a 110per cent premium to the bank’s prevailing market value of N1.50 on the Nigerian Exchange. Industry analysts said the transaction signals a turning point for Unity Bank, which has faced prolonged struggles with weak capitalisation, rising non-performing loans, and declining market relevance. By transferring AMCON’s strategic stake, they noted, Providus has strengthened its hand as it pushes for regulatory approvals to consummate a full merger. AMCON acquired its Unity Bank stake during the 2011–2012 banking sector clean-up after the global financial crisis exposed balance sheet vulnerabilities across second-tier lenders. Its divestment, according to banking sources, underscores the corporation’s gradual exit from long-held equity positions as it focuses on recovering toxic assets and reducing its systemic footprint. “AMCON’s sale to Providus is significant not just for Unity Bank but for the entire financial system,” said a Lagos-based investment banker. “It shows the government is serious about cleaning up legacy interventions while paving the way for stronger private-sector-led banks.” Unity Bank shareholders are set to benefit from the deal’s pricing structure. At N3.18 per share, Providus’ offer more than doubles the bank’s trading value, giving investors a rare premium exit in a market where bank stocks often trade at steep discounts. For minority shareholders, the merger if approvedcould also unlock value by combining Providus’ niche strength in corporate banking and digital services with Unity Bank’s broader retail and SME base. Providus, one of Nigeria’s fastest-growing mid-tier lenders, is widely seen as using the Unity Bank deal to accelerate its ambition of achieving national bank status. By absorbing Unity’s branch network and customer base, the lender would scale its operations beyond its current limited licence, positioning itself to compete more aggressively with tier-one institutions.  “The synergies are clear,” said a senior Unity Bank executive familiar with the talks. “Providus brings balance sheet strength and digital innovation, while Unity offers reach and brand equity, especially in northern Nigeria.”  Following AMCON’s divestment, the proposed merger will be subject to approval from the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and Unity Bank shareholders. Both banks are expected to present a detailed merger scheme in the coming months, outlining share swap ratios, post-merger governance, and capital plans.  Market watchers say regulatory scrutiny will focus on whether the combined entity meets CBN’s revised recapitalisation thresholds, which mandate higher minimum capital bases for Nigerian banks.  The Providus–Unity transaction comes amid a wave of consolidation moves triggered by the CBN’s ongoing recapitalisation drive. Several lenders are exploring mergers, acquisitions, or fresh capital injections to meet compliance deadlines ahead of 2026.  “This is the first big-ticket transaction of the recapitalisation era,” said a financial markets analyst. “It won’t be the last.”
Lead-In

Providus Bank has acquired the 34% equity stake held by the Asset Management Corporation of Nigeria (AMCON) in Unity Bank Plc, marking a decisive step toward the long-anticipated merger between the two financial institutions. The deal, valued at about N6.5 billion, saw AMCON offload its decade-old holding in Unity Bank to Providus at a price of N3.18 per share, representing a 110per cent premium to the bank’s prevailing market value of N1.50 on the Nigerian Exchange. Industry analysts said the transaction signals a turning point for Unity Bank, which has faced prolonged struggles with weak capitalisation, rising non-performing loans, and declining market relevance. By transferring AMCON’s strategic stake, they noted, Providus has strengthened its hand as it pushes for regulatory approvals to consummate a full merger. AMCON acquired its Unity Bank stake during the 2011–2012 banking sector clean-up after the global financial crisis exposed balance sheet vulnerabilities across second-tier lenders. Its divestment, according to banking sources, underscores the corporation’s gradual exit from long-held equity positions as it focuses on recovering toxic assets and reducing its systemic footprint. “AMCON’s sale to Providus is significant not just for Unity Bank but for the entire financial system,” said a Lagos-based investment banker. “It shows the government is serious about cleaning up legacy interventions while paving the way for stronger private-sector-led banks.” Unity Bank shareholders are set to benefit from the deal’s pricing structure. At N3.18 per share, Providus’ offer more than doubles the bank’s trading value, giving investors a rare premium exit in a market where bank stocks often trade at steep discounts. For minority shareholders, the merger if approvedcould also unlock value by combining Providus’ niche strength in corporate banking and digital services with Unity Bank’s broader retail and SME base. Providus, one of Nigeria’s fastest-growing mid-tier lenders, is widely seen as using the Unity Bank deal to accelerate its ambition of achieving national bank status. By absorbing Unity’s branch network and customer base, the lender would scale its operations beyond its current limited licence, positioning itself to compete more aggressively with tier-one institutions. “The synergies are clear,” said a senior Unity Bank executive familiar with the talks. “Providus brings balance sheet strength and digital innovation, while Unity offers reach and brand equity, especially in northern Nigeria.” Following AMCON’s divestment, the proposed merger will be subject to approval from the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and Unity Bank shareholders. Both banks are expected to present a detailed merger scheme in the coming months, outlining share swap ratios, post-merger governance, and capital plans. Market watchers say regulatory scrutiny will focus on whether the combined entity meets CBN’s revised recapitalisation thresholds, which mandate higher minimum capital bases for Nigerian banks. The Providus–Unity transaction comes amid a wave of consolidation moves triggered by the CBN’s ongoing recapitalisation drive. Several lenders are exploring mergers, acquisitions, or fresh capital injections to meet compliance deadlines ahead of 2026. “This is the first big-ticket transaction of the recapitalisation era,” said a financial markets analyst. “It won’t be the last.”

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