Business
Major Security Flaw Found In Android Phones
A significant security hole has been discovered in Google’s Android operating system for smartphones, which can allow attackers to gain access to users’ personal information without their permission, the CNN has reported
The flaw, which was discovered by three research assistants at Ulm University in the southern part of Germany, affects approximately 97 per cent of Android users.
In a recent blog post, the researchers found that users of Android devices running versions 2.3.3 and below could be susceptible to attack when they are connected to unencrypted Wi-Fi networks. Anyone else on that network could gain access to, modify or delete Android users’ calendars, photos and contacts.
“It is quite easy,” the researchers wrote in a blog post. “The implications of this vulnerability reach from disclosure to loss of personal information.”
A spokesman for Google said the company is aware of this issue, and a fix is already in place for the calendar and contacts applications in the latest versions of Android, codenamed “Gingerbread” and “Honeycomb.” A solution is also in the works for Google’s Picasa photo sharing service, he said.
Only about 3 per cent of Android users have the latest versions of the operating system, but Google said Android users running older versions will get a fix “in the next few days.” Users don’t need to take any action, and the patch will roll out globally.
The security flaw stems from Google making use of unencrypted login protocol for the affected services. By using HTTP, rather than the more secure HTTPS, “an adversary can easily sniff the login information,” according to the blog post.
The kind of attack that can be performed on Android devices over unencrypted Wi-Fi networks is similar to so-called “Sidejacking” attacks on Facebook or Twitter. For instance, Firesheep, a free Firefox extension that collects data broadcast over an unprotected Wi-Fi network, allows users to gain access to other people’s Facebook accounts.
Though the researchers found that any unsecured application making use of an Android user’s photos, contacts or calendars could be compromised, the data an attacker can gain access to is limited to those three groups. The security bug does not, for example, allow intruders to view a user’s e-mails.
Google was able to fix the problem on its end by requiring an HTTPS connection for calendar and contacts synchronisation. By solving the problem on its own servers, Google was able to get around a notoriously slow Android update process: after Google updates the code, manufacturing partners and carriers then manipulate the code for each device.
As a result, the vast majority of Android users are still running “Froyo,” which launched in May 2010. A quarter of users are still on “Eclair,” which came out all the way back in January of last year.
That means a patch for the security hole could have been months or years away for many Android users had Google not found a workaround.
In addition to switching to HTTPS, the researchers also suggested Google prevent Android devices from automatically remembering and logging onto unencrypted Wi-Fi networks. Google did not say whether it had taken any of those steps.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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