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Technology Is Changing: Security, Other Realities CIOs Must Face

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(L-r): Emeka Nwokeke, business development manager, Sunnet systems; Isaac Folahan, personal assistant to the GMD Skye Bank; Kehinde Shogunle, executive director, Sunnet Systems; Waheed Adeoye, server specialist at IBM Atinuke Runsewe, team Lead System administration First Bank; Ibrahim Adisa, head of Infrastructure First bank and Steve Ojedele, head of Sales Sunnet Systems, during recent Sunnet-IBM Forum on Datacentres Infrastructure Economy.

By peter oluka

Big Data has become one of the driving forces behind the global economy as an individual today generates more data than an organization would few years back.

The trends are underpinning business decisions; assisting them to generate multiple options on how to meet customer needs, as Wikibon’s study projects that big data will be a $50 billion business by end of 2017. Same time, the level of security breaches has increased.

To this end, the Chief Information Officers (CIOs) have even more responsibilities to put their respective organization on the right path for survivability, particularly, as estimated by analysts: poor data can cost businesses 20%–35% of their operating revenue.

To tackle the enormous tasks, Sunnet Systems at its one-day forum tagged ‘Datacenter Infrastructure Economics – Tip the scales with the Power of IBM Systems’, emphasized that the CIOs must understand that data is changing, cloud innovations are expanding, and mobile and social are changing the whole scenarios of operations.

In an exclusive interview with Nigeria CommunicationsWeek, Mr. Kehinde Sogunle, executive director of Sunnet Systems said that the concern for IT security is very high due to the pervasiveness of digital presence in today’s business environment.

“There is a cogent reason to be concerned about security, because no business can survive today without going digital. It’s either you transform or get kicked out of the market. However, the confidence I need to the CIOs is that majority of Original Equipment Manufacturing (OEMs) have security inbuilt to whatever systems they have.

“Also, there are cognitive systems that work faster; they understand security reasoning, learn about patterns and interact. Once they see out of step movement in systems, they raise queries. A company like IBM has such solution with a rich base of researchers. So, it is now more convenient for organizations to consider seriously moving their technology to the cloud, because the configurations of the infrastructure that drive the cloud are already built with top security solutions. The CEOs need to work with the CIOs to make this happen in their respective organizations,” Sogunle said.

“The ‘man’ (CIO) that is given the work to inform people should also be informed. H/she ought to know things like the patterns of security breaches. This can start from the point of enlightening people,” Mr. Steve Ojedele, head of Sales at the Sunnet Systems told Nigeria CommunicationsWeek, adding that every CIO should have knowledge about data, cloud innovation and mobile and social”.

He said that the trends are changing the whole scenarios of operations. “An individual today generates more data today than an organization would about ten years ago. If that is happening, we need stills to mine and process the data- structured, semi-structured and unstructured. These are the current trends that CIOs should be aware of so they can give better ‘information’ as a means to increase productivity and the profitability of their respective businesses”, Ojedele added.

The interactive forum provided participants with an excellent opportunity to meet experts from both Sunnet Systems and IBM; discuss on how to discover the secrets and smarter ways of dealing with the environment in the IT world.

It also provided thought provoking insights to CIOs and Senior ICT executives through a mix of end presentations and customer testimonial/case studies giving the CIOs the opportunity to hear about the latest global ICT trends and best practices and become involved in general discussions with other participants.

 

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Samsung in N65m Copyright Infringement Suit in Nigeria

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Eagle Eye Production Limited, an Abuja-based production company has slammed N65 million lawsuit against Samsung Nigeria and Ringier Media Nigeria Limited for allegedly using a part of its ‘Lekki-Ikoyi Link Bridge at Night’ video in a Galaxy S8 advert without authorization.

 

Samsung had, after receiving the lawsuit, claimed it had no knowledge of the creative process of the ad, as it outsourced the job to one Cheil Communications Nigeria Limited.

 

Cheil Communications, in turn, claimed it outsourced the job to Ringier Media Nigeria Limited.

 

At the first hearing on the lawsuit on May 3, before Justice Hassan of the Federal High Court sitting in Ikoyi, Lagos, Ringier Media’s Counsel applied to strike out the suit, claiming that the court lacked jurisdiction to entertain the suit because Eagle Eye in suing Ringier Media omitted the word ‘media’ in its name.

 

Ringier Media also argued that the suit did not disclose a reasonable cause of action against it.

 

Mrs. Abimbola Akeredolu (SAN) however, prayed the court to dismiss Ringier Media’s application with substantial cost on the basis that the omission of the word media from Ringier Media’s name is “a misnomer” and that the suit disclosed a reasonable cause of action against Ringier Media.

 

The learned Silk also pointed out that the omission of the word “media” was infact caused by Ringier Media and its counsel who in various correspondences exchanged prior to the suit represented to Eagle Eye’s counsel that the full name of Ringier Media is Ringier Nigeria Limited instead of Ringer Media Nigeria Limited.

The learned Silk also pointed out that Ringer Media’s counsel also described its client’s name as Ringier Nigeria Limited in the conditional memorandum of appearance filed by the said counsel on Ringier Media’s behalf.

 

On the same day, Eagle Eye’s Counsel also moved an application to amend their Writ of Summons and other accompanying originating processes to reflect the proper name of Ringier Media.

 

Court proceedings were witnessed by a Newsroom correspondent when Justice Hassan gave his ruling on Monday, June 2, 2018.

 

On Ringer Media’s application to strike out the suit, the learned judge held on the first leg, that the omission can be treated as a misnomer and representatives for the plaintiffs are allowed to file an application for amendment.

 

“There is no kind of mistake or error which the court cannot correct, except it is intended to cause injustice to a party. The omission can be corrected without causing injustice to the other party,” he ruled.

 

The Learned judge also held on the second leg, that looking at certain paragraphs in Eagle Eye’s Statement of Claim, the court is satisfied that a reasonable cause of action has been disclosed against Ringier Media.

 

The learned judge thereafter dismissed Ringier Media’s application and awarded cost of N20,000 in favor of the Plaintiffs against Ringier Media.

 

On Eagle Eye Production’s application to amend, the learned judge ruled that representatives for Eagle Eye Production Limited were misled by Ringier Media.

 

He made references to the exhibits submitted by the legal counsel for the Eagle Eye, where it was established that Ringier Media Nigeria Limited described itself only as Ringier Nigeria in various correspondences. Thus, the learned judge reiterated as follows:

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ITB Nigeria Set to Complete its First Steel & Concrete Building

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ITB Nigeria Ltd, innovative construction company providing full and advanced integrated engineering and construction solutions in both private and public sectors, is set to complete its first steel & concrete building project, Azuri Peninsula, in Eko Atlantic City, Lagos state.

The Azuri Peninsula project, which began in early 2015, is a unique steel and concrete residential building project that consists of three sets of over 30 storey towers.

It offers a unique collection of four-bedroom luxury and super luxury apartments, two and four-bedroom stunning Marina Town houses as well as s six-bedroom simplex (penthouses).

Commenting on the project, Mr. Ramzi Chidiac, Managing Director of ITB Nigeria, said, “We are excited about this project because it’s our first composite structure created by a combination of steel and concrete to form a single element.

This helps to deliver performance that is more effective than when individual components are used together but not unified. This testifies to the excellent work that we do at ITB Nigeria.

We are focused on fully understanding the needs of our clients and delivering on our promises, regardless of the scale or complexity of the challenge at hand”.

Steel and concrete structures involve a mix of steel and concrete together to form a single element. The tensile capacity of the steel and the compressive capacity of the concrete results in a standard structure.

This gives rise to benefits like speed, performance and value. Additionally, concrete encasement protects the steel from buckling, corrosion and fire.

On his part, Engr. Emmanuel Adeyemi, QA/QC Coordinator, ITB Nigeria,  stated, ‘the uniqueness of composite structures is that it enhances speed of construction, performance and value.

Steel framing for a structure can be erected quickly and the pre-fabricated steel floor decks can be put in place immediately.

When cured, the concrete provides additional stiffness to the structure, making the structure one that can stand the test of time”.

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BoI Secures $750M Afreximbank Loan at Single Digits for MSMEs

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Bank of Industry (BoI) will be disbursing the $750 million (N250 billion) syndicated loan facility which she received from the African Export-Import Bank (Afreximbank) to Micro, Small and Medium Enterprises at single digit interest rate.

Mr Olukayode Pitan, Managing Director, Bank of Industry, made this disclosure on the last day of the Afreximbank 25th Anniversary and Annual General Meeting during an interview with journalists in Abuja.

Pitan revealed that “the loan will be given to entrepreneurs in Nigeria for a period of between five and seven years, would enable the BoI bridge the funding gap for MSMEs which estimated at about N700 billion.”

This fund he said would be “given to companies operating in the creative industry, manufacturing and gender based businesses to help reduce the unemployment rate in the country and create wealth for small and medium scale entrepreneurs.

“We are looking at small, medium and large enterprises. We are looking at enterprises or companies that have a focus in using local raw materials, companies that generates that generates employment and bring down their cost of borrowing” he said.

Pitan stated that “the loan will be deployed at less than ten per cent interest per annum. We are working with the Central Bank of Nigeria so that the loan we will give to Nigerian businesses will be a longer term loan of between seven to eight years for the industrial sector.”

The landmark deal was signed off in the presence President Muhammadu Buhari who insisted on witnessing the agreement signing ceremony in Abuja because the N250 billion syndicated facility financed by 16 banks (among which are: Africa Export-Import Bank, the ECOWAS Bank for Investment and Development,  and British Arab Commercial Bank Plc and four Nigrrian banks based in the United Kingdom) is the single largest facility of its kind to be received by a Development Finance Institution (DFI) in Nigeria.

According to Pitan, “the idea is to support industries. What this loan allows us to do is, it gives additional N250 billion depending on the exchange rate that is used, between N230 billion to N250 billion to deploy to the industrial sector.

There is gap in the funding of the industrial sector, to the tune of N704 billion. This is our way to reduce that gap.”

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