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Home Blog Page 5138

Digital Security Experts Rally Support Over Nigeria’s Security Crisis

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Several people across the world are still of the view that Nigeria is still facing various national security challenges, despite strong strategic initiatives, hence would need a robust security policy action plan to keep the country intact.

They feel so, because of the following: institutional collapse, failure of critical institutions of state, internal systems collapse and failure of key internal safety systems.

These are worrying signals of a failed state and concerned institutions and corporate bodies in the country are rallying support to steady the polity.

Among such corporate entities is the Computer Professionals of Nigeria (CPN), a registration council in the country, which has expressed deep concerns and decided to awaken the consciousness of a strong national security.

To this end, the umbrella body of all computer practitioners in the country has decided to hinge the theme of its forthcoming annual Information Technology, IT Professionals’ Assembly/AGM on the cause.

Speaking to newsmen during the Assembly which took place between May 18-19, 2002 at the NAF Conference Centre Kado, Abuja, the President of the council, Kole Jagun disclosed the reason for the theme “Leveraging IT for National Security and Economic Stability”.

Jagun stated the theme was to draw home the consciousness that National security was important not only to the government, but to the nation as a whole.

He said, “IT deals with the use of electronic computers and computer software to convert, store, protect, process, transmit, and securely retrieve information.

“Today, the term information has ballooned to encompass many aspects of computing and technology, and the term has become very recognizable. Specifically, IT will help enable the nation to identify potential threats, share information more readily”.

The CPN hinted that the assembly would consider, among other things, the relationships and the interplays, and how Information Technology (IT) could be leveraged to improve national security and economic stability.

Jagun went further to state that from the deliberations, the Assembly would come up with formidable findings as well as critical recommendations that would   be   geared   towards   deploying   advanced and reliable   technologies   through   effective partnerships   that   promote   economic,   technological,   and   national competitiveness.

It’s noteworthy IT Assembly is an exclusive networking event for senior IT decision   makers,   consultants,   upcoming   IT   entrepreneurs,   start–ups,   practitioners,   teachers   and   systems   administrators.

The Assembly   is also a platform for some of the industry’s most innovative technology distribution and service providers to showcase their products and services; and for participants to appreciate the emerging technologies, trends, and risks that are associated with transforming the various industries using IT.

According to Jagun, “the annual Assembly has taken a new structure in line with the dictates of the moment ushered by the outbreak of the COVID-19 pandemic. In year 2020, for example, it held purely as a virtual event, and last year, the event held as a hybrid event.

“This year’s edition will also be a hybrid event as it is the practice with programmes of its kind all over the world.” he added.

The CPN President was optimistic that because IT plays a significant role in the security and economic stability of any country, it would continue to strengthen Nigeria’s national security against future threats and cyber-attacks.

He said, “Information technology can help countries to identify potential threats, share information easily, and protect mechanisms in them”.

Acknowledging the inevitable impact of IT on national growth and development, it’s needless to state that the Nigerian government is required to expedite actions to ensure every authority domiciled in the country leverages the numerous benefits of the tool in question.

This can only be duly achieved by making strong and wholesome policies that would encourage and improve IT operations, as well as ensure adequate implementation.

Active Mobile Subscription Hits 199.5 Million In Nigeria’s Telecom Space

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The active mobile subscriptions across the four recognized Global System for Mobile communications (GSM) networks domiciled in Nigeria, namely MTN, Globacom, Airtel, and 9mobile, reportedly rose to 199.5 million in March, 2022.

This is the highest number of subscriptions recorded by the GSM operators since January 2021.

According to the latest industry statistics released by the Nigerian Communications Commission (NCC), the operators added a total of 1.4 million subscriptions in March, 2022 which bolstered their customer database from 198.1 million recorded in February this year.

With the growth recorded by the operators, the country’s tele-density, which measures the number of active telephone connections per 100 inhabitants living within an area, also jumped to 104.54% from 103.79% recorded in February, 2022.

According to the NCC, the tele-density is calculated based on a population estimate of 190 million.

By this astronomical rise, each of the telecom operators are entitled to the following statistics:

  • The March statistics show that MTN, which is the largest operator by subscriber number, gained 243,879 new subscriptions in the said month. This brought its total active customer database to 75.2 million from 74.9 million in the previous month
  • Globacom added 894, 565 new subscriptions in the month to retain its position as the second-largest operator. The telco’s active customer database rose to 55.8 million at the end of the said month from 54.9 in February.
  • Airtel also gained new customers in the month under review, as its subscription database grew by 366,422. This brought its total subscriptions to 55.3 million from 55 million in February.
  • However, 9Mobile recorded a loss of subscriptions in the month. The company’s database plunged by 71,992, resulting in a database of 12.7 million.

With a steady increase in mobile subscriptions across the networks since the beginning of this year, the operators are steadily regaining their lost customers after the government’s policy on Subscriber Identity Module (SIM) registration caused them to lose over 20 million subscriptions between December 2020 and April 2021.

The survey indicates the telecom space in Nigeria still booms amid the odds, thereby making the various operators domiciled in the country to smile at banks at the closure of business on a daily basis.

However, as these telecom operators apparently grin, they are expected to review the nature of services being rendered to their clients in a bid to make amends where need be.

They must work to address the various network hitches regularly faced by their teeming subscribers, hence making them waste their hard-earned money, especially when they make use of data.

Their charges ought to equally be reviewed towards carrying everyone along, irrespective of the economic status of the subscribers. The charges in voice calls and data activities require a critical consideration, so the clients would immensely benefit from the services they paid for.

In the aspect of security, the operators are expected to tighten their software architecture, to avert any form of illegal invasion into their system database. This can only be guaranteed by ensuring that only experts are engaged in their services.

The government, on its part, is also required to regularly strengthen its regulations to ensure the needful is done by the telecom operators as they carry out lawful obligations in the country.

The government should as well work to ensure multiple taxation is not experienced by the operators, knowing full well that such occurrence would surely be to the detriment of the subscribers in the long run. 

Tekedia Capital Portfolio Startup Insurpass to Pitch At Bimalab Insurtech Demo Day

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It is Bimalab Nigeria Insurtech Demo Day 2022 and Tekedia Capital portfolio startup, Insurpass,  will be presenting. Supported by UKAID,  National Insurance Commission Nigeria, the Bimalab Nigeria Insurtech Accelerator program seeks to support Nigerian insurtech startups that are building innovations in micro-insurance and digital brokerages, B2B data analytics supporting the insurance sector, developing ancillary revenues and insurance add-ons to micro- and small and medium enterprises (MSMEs), and SaaS solutions addressing verticals such as agriculture, cyber and climate change.

The leader in the market is Insurpass. It has built a category-king API infrastructure which powers many entities in the nation. It has partnership with AXA Mansard, FCMB and other leading brands in the nation. Tekedia Capital is an institutional investor in Insurpass.

  • Fri, May 27, 2022
  • 9:00 AM – 2:00 PM WAT

To Tobi Odejinmi, Lorretta Okoli, Seun Ayegbusi and Gloria Agboifoh, Tekedia Capital wishes all of you a great Pitch. To watch them pitch and possibly support their mission, click here

(They’re hiring according to CEO Seun. They have expanded to pension APIs, saving APIs, and other vertical utilizing the foundational stack they built for insurance.)

Nigeria’s Big OPEN: The Age of Open Banking Is Here and New Opportunities Await

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The Central Bank of Nigeria has published a 61-page operational guideline on Open Banking in Nigeria. Through this new ordinance, the apex bank is working to see how data could be shared across the broad financial service ecosystem to deepen innovation in the nation. With this, fintech startups can tap into bank customers’ data via APIs, and deliver services to those customers. The overriding philosophy here is that by sharing data, customers would be better serviced, compared to when the data is disparate and siloed.

“The Regulatory Framework for Open Banking in Nigeria established principles for data sharing across the banking and payments system to promote innovations and broaden the range of financial products and services available to bank customers. As a result, open banking recognises the ownership and control of data by customers of financial and non-financial services, and their right to grant authorisations to service providers for the purpose of accessing innovative financial products and services. 

“This is anticipated to drive competition and improve accessibility to banking and payments services. Participants in open banking shall adhere strictly to security standards when accessing and storing data, and shall be subject to minimum privacy standards, operational standards, risk management standards and customer experience standards as prescribed by the Bank.”

Tekedia Mini-MBA will run a session on Open Banking, looking specifically at the new CBN guidelines, during our next edition which begins June 6. The non-profit Open Banking which has championed this redesign in Nigeria will lead it.

Download the document here and begin to study it. This document will change how fintech startups and even banks will operate in Nigeria, going forward. Imagine if you launch your company today, and magically you can have access to millions of customer data warehoused in banks’ siloed databases? Yes, all GTBank, First Bank, Zenith Bank, etc customers become “available” to you via APIs.

New business models would need to be created and the end-game will now move to the best customer experiences because the moats to the castles are out! Join us at Tekedia Institute as we examine these evolving paradigms. Yes, new business models would need to be created and massive opportunities await. 

https://youtu.be/vVKGnSoQtGQ

An explanation of open banking using the UK system.

Manchester City narrowly escape avalanching Liverpool to win domestic title for the 4th season in 5 years

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City finally had their thirst for silverware quenched as they claimed the English Premier League on Matchday 38. Guardiola’s men overhauled a two goal deficit to put an end to the writing of a Liverpool fairy-tale

37th and 69th minute strikes from Matty Cash and Philippe Coutinho were seemingly going to stab Guardiola and hand over the trophy to Jurgen instead but the former fought hard and pulled as many stunts as it took to turn around within the space of five minutes.

Guardiola’s tactical prowess was once again a card up City’s sleeve and worthy of some eulogy as the Spaniard made tactical decisions late into the match that turned it on its head. Guardiola’s technical know how for the game was highly rewarded as off-the-bench IIkay Gundogan bagged a brace in the 76th and 81st minute respectively while Rodri’s 78th minute equalizer was assisted by Zinchenko who replaced Fernandinho.

City were careful not to let loose of the reins like they had done in Madrid earlier this month and they were able to see this one through. Jurgen Klopp and his men also registered a 2-1 win over Wolverhampton Wanderers but Gundogan’s match winner proved effective and had the final say as Liverpool finished strong nonetheless runners-up

It’s not about Liverpool failing to win the cup, it’s about City being phenomenal. Liverpool chased with all strength and pace but City simply capped up all their efforts. Klopp and the players tried to fight back, get into the driving seat but The Sky Blues were better by an inch.

Reminiscence

It’s not the first time an EPL season has ended in such competitive manner between two massive Titans. The 2021/22 season is infact a remake of the 2018/19 season, one in which Liverpool also chased all the way to the end but despite amazing resilience failed to outwit their Blue rivals. During this particular season, City were strong in the game, finishing with an outstanding 98 while Liverpool were just a point inferior at 97. Liverpool were good, City were better. It’s no fault of Klopp’s or The Reds’ that they had a simply classier or more difficult competitor in form of Manchester City. There was nothing Liverpool could do about this. They did their homework; only they didn’t stop The Citizens from doing theirs, as a matter of fact, Etihad did even better on this course.

Manchester City have now won the EPL four times in the past five seasons. Their prolonged reign began in 2017/18, Guardiola’s second season in charge and the blue outfit have gone on to win four titles since then. But there remains a longing for the entire City verse and that is the UCL. So far, the Spaniard has experienced seasons of disappointment playing in Europe. Madrid, Chelsea, Lyon, Monaco, Liverpool, Tottenham are the six clubs who have obscured City’s dreams to quintessential european glory during Guardiola’s tenure.

For today, City will try to forget the infamous night in Spain, the aura, their UCL jinx, they’re going to focus on yet another milestone they’ve achieved. They’re the champions of England, they crushed Liverpool’s dreams of a quadruple, they’re now second placed in terms of number of EPL trophies, 6 behind United’s 13. With a lease of new life, they’ll look to the next season, perhaps they can make it this time around. BUT FOR NOW, MANCHESTER CITY ARE ONCE AGAIN CHAMPIONS OF ENGLAND.