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ISPON Shops for N500 Million



In furtherance of its national advocacy to foster and promote the Software profession and industry, the Institute of Software Practitioners of Nigeria (ISPON) is set to raise N500million for sustainable national development and global competitiveness.
In a statement made available to Nigeria CommunicationsWeek ISPON believes that the Software Industry can become an alternative to oil with respect to revenue generation and wealth creation. To achieve this feat, ISPON has solicited and won the support of core IT champions and stakeholder team comprising Engr. E. Ndukwe, EVC NCC, Sam Amuka, publisher Vanguard, Jim Ovia a passionate IT promoted and Founder of Visafone Networks, Sen. Sylvester Anyanwun, Prof. C. Angaye, DG NITDA, Prof. Charles Uwadia, president, Nigeria Computer Society, President of CPN, Dr. Emmanuel Ekuwem, president ATCON, the Diaspora and a host of others.
Today, the development, application and use of Software has boosted productivity, created new jobs, enabled more efficient businesses, produced higher quality of goods and services, and led to greater global innovation, standards and best practices. The emergence of the Software revolution has enhanced the quality of life from improving health care, agriculture, communication, education, Art and Culture, to promoting greater transparency, to making it easier for government, business and humanity to interact with one another and above all, to promoting world peace.
“The key benefit of a vibrant Software Industry is in producing more knowledgeable and better-skilled human capital for nation building.
Software has therefore become and will remain for a long time one of the fastest growing industries with the power to enrich and sustain national economies.  Global projection and current assessment reveals that IT spending will exceed four trillion US dollars in 2009.
ISPON has therefore originated plans to enthrone the establishment of a National Policy and strategies for software development. Setting a national software development policy and awareness agenda therefore, is against the backdrop that building software capacities presents immense economic opportunities for nation building. Suffice to state that Nigeria can earn more than $10billion in foreign exchange annually from the software industry,” the statement said.
ISPON commended the federal government for the enviable role it has played in the developmental process of Information Technology, especially its adoption of the National Policy on Information Technology (IT) and beliefs that the Nigerian Software market potential is currently worth about $5.2billion US Dollars and can grow to more than $15 billion annually, provided that an exclusive, independent and professionally constituted framework is established to harness its immense potential. 


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IBM Study Unveils Hidden Costs of Data Breach



IBM Security has released a global study examining the full financial impact of a data breach on a company’s bottom line.

The study found that hidden costs in data breaches — e.g., lost business, negative impact on reputation and employee time spent on recovery — can be a huge factor. In a “mega breach” of 1 million or more records, one-third of the cost derived from lost business.

And the cost is on the rise; since the 2017 report, the average cost of a data breach globally has increased 6.4 percent, to $3.86 million, according to IBM. The number of mega breaches is also up — from nine in 2013 to 16 in 2017.

The study, sponsored by IBM and conducted by Ponemon Institute, also reveals that:

– Average cost of a data breach involving 1 million records is nearly $40 million.

– Estimated cost of a breach involving 50 million records is $350 million.

– Average time to detect and contain a mega breach (365 days) is 99 days longer than for a smaller-scale breach.

– In a mega breach, the greatest cost is from lost business, estimated at nearly $118 million for a breach of 50 million records.

A major factor in lost business cost is customer turnover — a recent IBM/Harris poll found that 75 percent of consumers in the U.S. say that they will not do business with companies that they do not trust to protect their data.

“The truth is there are many hidden expenses which must be taken into account, such as reputational damage, customer turnover, and operational costs,” said Wendi Whitmore, global lead for IBM X-Force incident response and intelligence services. “Knowing where the costs lie and how to reduce them can help companies invest their resources more strategically and lower the huge financial risks at stake.”

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Global Accelerex Trains Nigerian Security Agencies on Cyber Crime



Global Accelerex Limited, a Central Bank of Nigeria-licenced Payment Terminal Service Provider and Payment Solution Service Provider, as part of its Corporate Social Responsibility Program, is set to train members of Nigeria’s Security Agencies on Cybercrime.

The event, which will hold on July 25, 2018 at Ladi Kwali Conference Center, Sheraton Hotel, Abuja, will enrich participants’ knowledge of the cyberspace and increase their versatility in dealing with on-line crime.

This collaboration, first of its kind in the e-payment industry, is borne out of the company’s desire to rid the nation of cyber criminals who continue to bring the country’s name into disrepute.

In addition to learning about cyber vulnerability, attendees will also learn about insider threats and sophisticated cyber adversaries.

The forum will host more than 30 participants including officials of the Nigerian Police, Nigerian Armed Forces, Economic and Financial Crimes Commission, Independent Corrupt Practices Commission, State Security Service, National Intelligence Agency and National Drug Law Enforcement Agency.

Others are Nigerian Security and Civil Defence Corps, Defence Intelligence Agency and Nigerian Custom Service.

“We applaud the effort of the Nigerian government in combating cybercrime and securing lives and property in the country. Global Accelerex is driven to compliment this effort to ensure that Nigeria is rid of these miscreants so that citizens can enjoy the cyberspace with the peace of mind they deserve.

It is absolutely critical that we support security operations so that Nigerians can use the internet freely, which is why this training is vital”, stated Stanley Peters, Chief Technology Officer of the company.

The National Security Adviser commends the initiative by Global Accelerex, saying that the move will definitely impact positively on the officers and the nation in general.

He added that continuous training is critical to stay ahead of criminals even as he revealed that attendees have shown a high level of enthusiasm at this unique opportunity.

Keynote speakers that will bring their experience to bear are Mr. Tahmeed Rab, Co-Founder and Managing Partner of Kaizen Solutions Group, Baltimore, USA and Mr. Peter Obadare, Co-Founder and Chief Operating Officer of Digital Encode.

Both experts are acclaimed for their ground-breaking achievements in cyber security, risk and compliance, mobile forensics, network and system consulting.

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E-Business Acquires iAfrica



Media holding company has today announced its acquisition of Primedia and MTN-owned news portal, The terms of the agreement were not disclosed.

In a statement, says the acquisition builds on the company’s strength in running the news Web site and the business publisher’s network, a group of nearly fifty business content publishers on the continent who have joined to create a digital audience of over 15 million influential business people. chairman and CEO, Teresa Clarke, will serve as executive editor of iAfrica.

“The acquisition of iAfrica creates a next generation South African media platform with a global reach,” says Clarke. “By acquiring iAfrica, we are able to combine editorial, technology, and marketing resources, bringing the benefits of more original content and better site performance to readers of both iAfrica and”

Laura Joseph’s MD, adds: “We are fusing a legendary African news portal with an innovative and dynamic management team under one umbrella. With combined resources, we will continue to make each site better and better.”

According to the statement, has already started its re-branding of the news portal.

“ is known for its creative content in the form of slideshows, videos, and infographics, and we will bring these content forms to iAfrica,” notes Debra Winter, COO of

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