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E-Business

25% of Global Companies to Adopt Big Data Analytics by 2016

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Criminals are rapidly evolving their hacking techniques, and are attacking quickly, making timely security and fraud analytics more critical than ever. Big data analytics give enterprises faster access to their own and relevant external information.

Avivah Litan, vice president and distinguished analyst at Gartner, said enterprises can achieve significant savings in time and money when using big data analytics to stop crime and security infractions, by stopping losses and increasing productivity.

Ahead of the Gartner Business Intelligence & Analytics Summit 2014 , being held March 31 – April 2 in Las Vegas, Gartner predicts that by 2016, 25 percent of large global companies will have adopted big data analytics for at least one security or fraud detection use case, up from 8 percent today, and will achieve a positive return on investment within the first six months of implementation.

Ms. Litan said: Big data analytics gives enterprises faster access to their own data than ever before. Big data analytics enables enterprises to combine and correlate external and internal information to see a bigger picture of threats against their enterprises.

It is applicable in many security and fraud use cases such as detection of advanced threats, insider threats and account takeover.

Information needed to uncover security events loses value over time, and timely intelligent data analysis is critical as criminals and bad actors move much more quickly to commit their crimes.

For example, a year or two ago, hackers would look around, conduct extensive cyberespionage on their targets, and then go in for the theft — whether it was for money or information.

Now, hackers — aware of more-effective security and fraud prevention measures erected by their target victim enterprises — simply go directly to the theft without a drawn-out reconnaissance phase.

To address these issues in the past, enterprises relied on various siloed monitoring or detection systems that were optimized for various use cases, such as data loss, financial fraud, or privileged user monitoring.

Now, with big data analytics, enterprises can: Cut down on the noise and false alerts in existing monitoring systems by enriching them with contextual data and applying smarter analytics. This is especially important as the number of security events increase substantially year over year.

Correlate the resulting high-priority alerts across monitoring systems to detect patterns of abuse and fraud, and to get the big picture on the security state of the enterprise.

Pool their internal data and relevant external data into one logical place, and look for known patterns of security violations or fraud.

Profile accounts, users or other entities, and look for anomalous transactions against those profiles.

Remain agile, and stay ahead of malicious actors and activities, via faster tuning of rules and models tested against data streaming in near real time.

Big data analytics is ahead of most organizations’ abilities to successfully adopt them, and most vendors have barely begun to prove their software’s effectiveness, so it’s still early days for this market.

Enterprise are recommended to start small, but think big, and develop a road map that encompasses multiple use cases and applications across the organization. The return on investment (ROI) on big data analytics is typically too big to ignore.


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E-Business

INEC Sets Up AI Division to Strengthen Electoral System

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Independent National Electoral Commission (INEC) has announced the establishment of an Artificial Intelligence (AI) Division within its ICT Department.

INEC Sets Up AI Division to Strengthen Electoral System

This marks a significant stride toward enhancing electoral integrity, efficiency, and innovation in Nigeria’s democratic process.

This decision was reached at the Commission’s regular weekly meeting held in Abuja, following a series of consultations and engagements on the global and continental impact of AI on elections.

In a statement issued by Sam Olumekun, national commissioner and chairman of the Information and Voter Education Committee, INEC underscored that the growing relevance of AI in electoral matters necessitated a proactive institutional framework to manage both the risks and opportunities it presents.

“Our interactions with electoral bodies across Africa highlighted both the risks of AI—such as fake news and content manipulation—and the vast potential it holds for data-driven decision-making, risk mitigation, automated voter services, and geo-spatial intelligence for logistics,” Olumekun noted.

According to him, the newly created division will centralise the Commission’s AI efforts, ensuring a harmonized approach to deploying intelligent systems that enhance decision-making, improve voter engagement, and boost the credibility of the electoral process.

“The creation of this division puts the Commission at the forefront of institutionalizing AI capabilities in electoral management.

It is also part of our ongoing reforms in areas where administrative action is sufficient to drive change,” he said.

He added that the AI Division will help INEC better coordinate its existing technological investments while providing safeguards against the misuse of AI technologies.

“We are positioning ourselves to maximise the positive impact of AI while mitigating its negative implications. This step strengthens the credibility and transparency of elections in Nigeria,” Olumekun concluded.

The initiative, INEC emphasised, reflects its commitment to embracing innovation in safeguarding democracy and improving electoral services nationwide.

 

 

 

 


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CAC, NIBSS Unveil Platform for Data Access to Private Firms

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Corporate Affairs Commission (CAC) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) has unveiled a new Application Programming Interface (API) integration system to allow private firms access company data from the Commission’s database.

CAC, NIBSS Unveil Platform for Data Access to Private Firms

Hussaini Ishaq Magaji (SAN), registrar general of CAC, who spoke  in Abuja at the unveiling said the system would give selected private organizations access to CAC services through technology-based companies, called “super agents.”

“This is a practical step to show that the Commission is committed to meeting the expectations of our customers,” he said.

Magaji explained that the integration allows the agents to retrieve data from the CAC database for use in specific client requests, outside the standard services provided by the Commission.

“Before now, only a few government agencies had this integration, especially those involved in investigations, anti-money laundering, and terrorism financing. Now, private companies that meet the criteria can also access it,” he said.

He said the system complies with the Nigerian Data Protection Act 2023, and information such as residential addresses, phone numbers, and dates of birth may be restricted.

“This is a call to law firms and companies with the right technology. We’ve started with NIPS because of their credibility. Embassies and banks can now authenticate company records directly through them.”

“There are prescribed fees. We already collect them on our portal, and now customers can also pay through these agents,” he explained.

He named NIPS, MoneyPoint, and OPE as some of the companies involved.

“OPE and MoneyPoint handle only registrations. But NIPS has moved further into validation and verification,” he said.

Ngover Ihyembe-Nwankwo, executive director at NIBSS, who represented Premier Oiwoh, managing director, said the service allows secure and efficient data verification.

“This is the result of years of effort to connect our systems with CAC. It will help users verify data within the limits of data protection laws,” she said.

She said the move is a way to lower costs and promote interoperability across the financial sector.

 

 


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FG Launches Online Citizenship, Business Management Platform

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Ministry of Interior has announced the launch of a new Online Citizenship and Business Management Platform in line with the Renewed Hope Agenda of President Bola Tinubu.

FG Launches Online Citizenship, Business Management Platform

A statement signed by Dr Magdalene Ajani, permanent secretary, Ministry of Interior’s said the initiative forms a key part of its ongoing reforms aimed at promoting transparency, enhancing operational efficiency, and significantly improving service delivery to the public.

The new digital platform is designed to streamline the application and processing of citizenship and business-related services, ensuring faster turnaround times and improved user experience.

The platform allows users to apply for and manage business permits, ensuring that both local and foreign businesses operate legally in Nigeria.

It includes an Expatriate Quota System to manage work permits for foreign employees, helping companies hire skilled workers while complying with Nigeria’s immigration laws.

The Citizenship Administration and Management System provides a streamlined online process for applying, tracking, and managing Nigerian citizenship applications and related services.

Members of the public, corporate entities, and other stakeholders are expected to access the platform through the ministry’s website: https://interior.gov.ng , Direct Portal Access: https://candb.interior.gov.ng , or contact candb-support@interior.gov.ng for support and inquiries.

“The Ministry of Interior remains committed to establishing a more efficient, transparent, and secure framework for citizenship administration, while continuously enhancing service delivery through digital transformation,” the statement read in part.

 

 

 

 

 

 


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