Bank

when

Read

Security

<p>A recent inquiry into the National Youth Investment Fund (NYIF) online process has revealed some intriguing and potentially concerning details. The <a href="https://www.fmyd.gov.ng/youth-empowerment-program" target="_blank" rel="noopener">NYIF</a>, an initiative that gained significant traction following the announcement of the August 1 protests, aims to support Nigerian youth through loans, grants, and equity investments.</p> 
<p>Upon applying for the NYIF, you’ll receive an email from “<strong>fmyd@email.b12.io</strong>,” which immediately stands out. The unusual email address raises questions about the programme’s management and transparency.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
  <img loading="lazy" decoding="async" width="750" height="915" src="https://technext24.com/wp-content/uploads/2024/08/image-1.png" alt="Revealed: FG's National Youth Investment Fund is powered by Envivo, a tech company with a dubious past" class="wp-image-234255" style="width: 100%;height:auto">
 </figure>
</div> 
<p>Typically, government institutions in Nigeria use the “.gov.ng” domain for official communications, ensuring authenticity and security. For instance, when you register on the Corporate Affairs Commission, you’ll receive an email with the domain: “com.ng”.&nbsp;</p> 
<p>The use of “email.b12.io” can be owing to some possibilities:</p> 
<ol class="wp-block-list"> 
 <li><strong>Misinformation or Error</strong>: It could be a simple mistake or misunderstanding. Given the importance of official communications, even minor errors can lead to confusion and distrust among the public.</li> 
 <li><strong>Third-Party Service</strong>: In rare cases, Government Ministries use third-party services for specific communication needs. Such services could operate under a different domain, such as “email.b12.io,” which is proprietary to another company – <strong>B12</strong>.<br><br>B12 provides AI-assisted tools for small businesses, including website creation and online presence management. Their services are reportedly legitimate and reputable.<br><br>This partly alleviates concerns but does not fully explain the deviation from standard government communication protocols.</li> 
 <li><strong>Spoofing or Phishing</strong>: There is also the concerning possibility that the email could be a spoofing attempt. <br><br>Phishing emails often use deceptive addresses to appear legitimate, tricking recipients into sharing sensitive information. Given the sensitive nature of the information involved in NYIF applications, this scenario cannot be dismissed lightly.</li> 
</ol> 
<p>This raises eyebrows because the email on the official website reads: “<a href="mailto:info@fmyd.gov.ng">info@fmyd.gov.ng</a>”.&nbsp;</p> 
<h4 id="unusual-response-address-oluobadinamyenvivo-com" class="wp-block-heading">Unusual response address: “oluobadina@myenvivo.com”</h4> 
<p>If you consider it closely, you will observe that the NYIF application emails advise against responding but provide a response contact address: “oluobadina@myenvivo.com.”</p> 
<p>This email belongs to <a href="https://www.linkedin.com/in/go-envivo/?originalSubdomain=ng" target="_blank" rel="noopener">Olugbenga Obadina</a>, the Chief Innovation Officer of Envivo Communications, an IT services company. The involvement of Envivo Communications in this process is noteworthy, especially considering the company’s controversial history.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full is-resized">
  <img loading="lazy" decoding="async" width="718" height="1248" src="https://technext24.com/wp-content/uploads/2024/08/image-2.png" alt="Revealed: FG's National Youth Investment Fund is powered by Envivo, a tech company with a dubious past" class="wp-image-234257" style="width: 100%;height:auto">
 </figure>
</div> 
<h4 id="but-envivo-communications-has-a-troubled-past" class="wp-block-heading">But, Envivo Communications has a troubled past</h4> 
<p>Envivo Communications has been previously mentioned in <a href="https://fij.ng/article/i-still-owe-n1-6m-students-pushed-into-debt-by-chioma-udes-envivo-communications-speak/" target="_blank" rel="noopener">reports</a> for questionable practices.&nbsp;</p> 
<p>About a year ago, a report surfaced alleging that the company had ‘manipulated’ job seekers into taking loans from Access Bank through the <a href="https://www.cbn.gov.ng/DFD/msmes/cifi.asp" target="_blank" rel="noopener">Creative Industry Financing Initiative (CIFI)</a>, a programme by the Central Bank of Nigeria (CBN).&nbsp;</p> 
<p>The job seekers were reportedly coerced into opening accounts and securing ₦3 million loans, supposedly to cover training, laptops, and job placements provided by Envivo. However, many of these promises were unfulfilled, leaving the applicants in debt and without the promised support.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="1106" height="705" src="https://technext24.com/wp-content/uploads/2024/08/Obadina.png" alt="Revealed: FG's National Youth Investment Fund is powered by Envivo, a tech company with a dubious past" class="wp-image-234291">
  <figcaption class="wp-element-caption">
   Source: FIJ
  </figcaption>
 </figure>
</div> 
<p>The Foundation for Investigative Journalism (FIJ) documented these issues, highlighting how participants were promised a stipend of ₦50,000 per month, training, and employment. The arrangement was that Envivo would deduct loan repayments from these stipends.</p> 
<p>However, the failure to deliver on these promises left many participants struggling with debt.&nbsp; By November 2023, Envivo Communications <a href="https://fij.ng/article/after-fijs-story-chioma-udes-envivo-communications-pays-back-cbn-loans-obtained-with-students-information/" target="_blank" rel="noopener">reportedly</a> began repaying these loans, but the damage to its reputation was significant.</p> 
<p>FIJ also found out that this was not the first time Obadina would be linked to fraud allegations. In 2016, the EFCC&nbsp;<strong><a href="https://dailypost.ng/2016/07/18/dasukigate-court-grants-obadina-n500m-bail/" target="_blank" rel="noreferrer noopener">fingered</a></strong>&nbsp;Obadina as a beneficiary of ₦2.417 billion from Sambo Dasuki, former National Security Adviser, for electricity contracts he never executed.</p> 
<p>Attempts to reach Olugbenga Obadina did not yield any results.&nbsp;An email was sent to him without a response. All other means failed too. Also, Dr Jamila Bio, Nigeria’s Minister of Youth Development could not be reached.</p> 
<p>Read also: <strong><a href="https://technext24.com/2024/08/02/whatsapp-public-opinion-nigeria-fccpc/" target="_blank" rel="noreferrer noopener">FCCPC says WhatsApp is trying to influence public opinion with ‘leaving Nigeria’ threats amid $200m fine</a></strong></p> 
<h4 id="concerns-and-community-feedback" class="wp-block-heading">Concerns and community feedback</h4> 
<p>The “association” between the Federal Ministry of Youth Development and Envivo Communications, particularly in managing applications for youth development, raises red flags.&nbsp;</p> 
<p>For clarity, no law mandates a government entity to make public a partnership with a private entity in this context – except where it focuses on infrastructure projects, captured by the Infrastructure Concession Regulatory Commission (ICRC) Act of 2005.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="1377" height="1128" src="https://technext24.com/wp-content/uploads/2024/08/NYIF.jpeg" alt="NYIF" class="wp-image-234262">
  <figcaption class="wp-element-caption">
   Jamila Bio, Nigeria’s Minister of Youth Development
  </figcaption>
 </figure>
</div> 
<p>However, reviews on platforms like <a href="https://www.glassdoor.com/Reviews/Employee-Review-Envivo-Communications-RVW56716432.htm" target="_blank" rel="noopener">Glassdoor</a> paint a bleak picture of Envivo’s internal operations, with comments criticising poor leadership and lack of focus. One review specifically mentioned, “<em>Poor leadership. Lacks the focus, experience, and discipline required to make the company actualise its goals</em>.”</p> 
<p>On <a href="https://www.nairaland.com/5766650/envivo-communications-intership-program" target="_blank" rel="noopener">Nairaland</a>, a popular Nigerian online forum, discussions about Envivo Communications have been overwhelmingly negative, with many users labelling the company as a scam. Some users shared their scepticism, noting that the requirement to submit Bank Verification Numbers (BVNs) during the application process for a Software Engineer internship should have been a warning sign.</p> 
<h2 id="implications-and-next-steps" class="wp-block-heading">Implications and next steps</h2> 
<p>The discrepancies in communication methods, coupled with Envivo Communications’ questionable past, necessitate further investigation. The involvement of third-party companies in government initiatives, especially those dealing with sensitive financial information, must be transparent and secure. It is imperative to ensure that public funds are managed appropriately and that citizens’ trust is not compromised.</p> 
<p>This story raises broader questions about the oversight and management of youth-focused programs in Nigeria. It underscores the need for clear communication channels, stringent security measures, and accountability from all involved parties. </p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="2048" height="1638" src="https://technext24.com/wp-content/uploads/2024/08/image-4.png" alt="Revealed: FG's National Youth Investment Fund is powered by Envivo, a tech company with a dubious past" class="wp-image-234259">
  <figcaption class="wp-element-caption">
   Jamila Bio, Nigeria’s Minister of Youth Development
  </figcaption>
 </figure>
</div> 
<p>It should not stop at announcing the fund. </p> 
<p>The bottom line is, that while using unconventional email domains and third-party involvement in government initiatives may sometimes be benign, they can also signal deeper issues.</p> 
<p>This case illustrates the importance of vigilance and transparency in public affairs, particularly when dealing with vulnerable populations like the youth. The potential risks posed by mismanagement or fraudulent activities necessitate rigorous scrutiny to protect the public interest.</p>
<p>The post <a href="https://technext24.com/2024/08/06/nsif-powered-envivo-dubious-company/">Revealed: FG’s National Youth Investment Fund is powered by Envivo, a tech company with a ‘dubious’ past</a> first appeared on <a href="https://technext24.com">Technext</a>.</p>

Revealed: FG’s National Youth Investment Fund is powered by Envivo, a tech company with a ‘dubious’ past

Table of Contents

Technext.ng

Other articles published on Aug 6, 2024

Crypto Scams on the Rise: Fake Video Conferencing Apps Target Job Seekers for Crypto

Cardano Bull Gambardello Says A Massive Turnaround for ADA on the Horizon

Solana Remains on the Security Status Hook Despite SEC's Court Move

Binance integration on PengyOS! Web3 Solana HUB $POS

Coinbase Analyst David Duong Says Short Positions Direct the Market! Here are the Details

Capula Management Injects Millions in BTC Spot ETF- 13b Filing

Join our free newsletter for daily crypto updates!