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Azentio Software to Acquire Software Assets from Path Solutions

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Azentio Software (“Azentio”), a Singapore-headquartered software products business owned by funds advised by Apax, has signed a binding agreement to acquire certain software assets from Path Solutions (including the flagship products iMAL™, iSHRAQ™, Path Digital and Path Analytics), a leading provider of core banking software.

The transaction is contingent on obtaining relevant regulatory approvals and subject to customary closing conditions. This acquisition will strengthen Azentio’s banking portfolio by adding complimentary core banking software capabilities and a full spectrum of next generation solutions focused on Islamic banks and financial institutions.

Founded in 1992, Path Solutions offers a comprehensive range of core banking, retail banking, transaction banking, lending, treasury, digital banking and analytics solutions to banks and financial institutions through its flagship products iMAL™, iSHRAQ™, Path Digital and Path Analytics.

These software products help Islamic banks with digital transformation, deliver frictionless customer experience and drive long term sustainable growth. Path Solutions has an extensive footprint of over 100 Islamic banks and financial institutions in over 40 countries across the world.

Path Solutions’ team of domain and technical specialists will further augment Azentio’s capabilities as it aims to become the leading BFSI software company across the Asia Pacific (APAC), the Middle East and Africa (MEA).

Path Solutions will be supported by Azentio with increased investments in R&D and sales and customer service to deliver enhanced value to its customers.

Together with Azentio’s banking portfolio, comprising of lending, treasury, trade finance and anti-money laundering solutions, this acquisition will provide an end-to-end integrated solution to banks in the region.

Tony Kinnear, CEO, Azentio, commented: The acquisition has great significance for us, as it adds scale and depth to Azentio’s Islamic and core banking offerings and further reinforces our vision and resolve to be a regional leader in the BFSI software space across APAC, MEA and emerging markets.

iMAL™’s industry-leading digital Islamic core banking platform has been recognized by industry analysts for its broad and deep Islamic functionality, flexibility and operational performance.

I am extremely happy to welcome Mohammed Kateeb and the Path Solutions team, clients and partners to Azentio. We complement each other well, with both organizations focused on making a real difference to our clients.

Mohammed Kateeb, Group Chairman and CEO, Path Solutions, said: Path Solutions has been a leader in the segment providing feature-rich core banking software specialized for Islamic banks and financial institutions.

Today, the Islamic financial industry needs to urgently transform to meet its new digital objectives. Joining with Azentio now puts wind beneath our wings to accelerate our journey and deliver at a greater scale and speed to meet industry demands.

This will also provide our people and partners the opportunity for growth and to our clients the surety of technologically rich, innovative, high-impact products that will help them grow and provide best-in-class service to their end customers.


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E-Business

NIMC Grants NCoS Licence to Register Inmates for NIN

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National Identity Management Commission (NIMC) has granted licence for the Nigerian Correctional Service, (NCoS) to register inmates in the over 252 custodial centres across the country for National Identity Numbers, (NIN).

NIMC Grants NCoS Licence to Register Inmates for NIN

The approval followed the request made by Sylvester Nwakuche, acting controller general of the NCoS, who paid a visit to Engr Abisoye Coker-Odusote, director general/chief executive Officer of NIMC, in her office.

The acting controller-general, said the licence to carry out registration of inmates for NIN would eliminate exclusion of inmates from the country’s National Development plans, ensure their safety and security and facilitate their smooth recapture in times of jailbreaks.

The NCoS boss said the visit to the headquarters of NIMC was in search of collaboration that would enable the Service carry out its mandate seamlessly following on going reforms of the Correctional Service system.

According to Nwakuche, there are lots of socio-economic developments within the Correctional Service systems which had led to a number of inmates obtaining University degrees, Masters Degrees and Doctor of Philosophy (PhD) in various fields.

He said such inmates should not be excluded from the national development plans of the country as they should be integrated into the society to become useful for their families and the country.

Nwakuche said inside the Correctional centres are those awaiting trials whose innocence and otherwise has to be decided by the Courts, but argued that in times of National planning, census and other critical national development issues, they should not be disallowed from participating.

Coker-Odusote who granted the licence said NIN has become critical and essential to the country’s national development plans, stressing that NIMC has gone far with the private sector, especially the banks and the Central Bank of Nigeria (CBN) as all banks accounts are now linked with the NIN.

Coker-Odusote said the Eight points Agenda of President Bola Tinubu are also anchored on the Country’s digital identity or National identity Number, stressing that for instance NIN was tied to students loans to eradicate duplicity and prevent ghost beneficiaries.

Coker-Odusote expressed delight in the partnership with the NCoS, saying that the Commission had already entered into partnership with the Nigeria Immigration Service, NIS and other agencies in order to facilitate the smooth delivery of their constitutional mandates.

She commended Dr Olubunmi Tunji-Ojo, minister of Interior, for his dynamic leadership and role in ensuring the delivery of dividends of democracy to Nigeria through various reforms.


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NIMC Trains 388 Personnel to Boost NIN Enrolment

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National Identity Management Commission (NIMC) has kicked off a three-day training program for 388 personnel aimed at enhancing the National Identification Number (NIN) enrolment process across the country.

NIMC Trains 388 Personnel to Boost NIN Enrolment

The training, tagged “Refresher Training of Trainers on NIN Integration to the National Social Register: Technical and hands-on devices and field operations and procedures”, is in collaboration with the National Social Safety-Net Coordinating Office.

The training is also to equip personnel with the necessary skills to efficiently handle the complexities of enrolment processes

In her address at the event held in Port Harcourt on Monday, Abisoye Coker-Odusote, director-general and chief executive officer, NIMC, noted that the initiative aligns with the commission’s overarching goal of achieving secured and great success for the Renewed Hope social initiatives.

Represented by Adedapo Adedoyin, her technical advisor on ICT, the NIMC DG said the event is a pivotal initiative that marks a significant step forward in our mission to enhance and modernize the National Identification Number enrolment process across Nigeria.

She stated, “Today, I am pleased to announce the launch of a comprehensive training program aimed at refreshing the technical and operational skills of the National Social Safety-Net Coordinating Office State Operations Coordinating Unit and NIMC staff.

“This initiative focuses on practical and field-based exercises, ensuring that our teams are well-equipped to handle the complexities of enrolment processes with precision and efficiency.

“This initiative aligns with our overarching goal of achieving secured and great success for the Renewed Hope social initiatives. Through verified digital identification, we aim to improve the lives of Nigerians by providing them with access to essential services and opportunities that require a reliable and secure identity verification system”.

Coker-Odusote explained that the training program will be conducted in two batches, encompassing four states: Kwara, Nasarawa, Kano, and Rivers. A total of 388 attendees will participate in this initiative, including 225 NASSCO State Operations Coordinating Unit representatives, 35 NIMC facilitators, and 128 State support staff.

She added, “The sessions are meticulously designed to foster knowledge sharing and hands-on experience with NIMC’s enrolment device and software, ensuring that our personnel are adept at using these tools to their full potential.

“By empowering our teams with enhanced skills and practical experience, we are setting the stage for more efficient and accurate NIN enrolment processes across the nation”.

Coker-Odusote further said the training program “is a crucial step toward achieving the World Bank’s Identification for Development Initiative target of enrolling 180 million Nigerians with secure digital IDs.

“By bolstering our technical and operational capabilities, we are ensuring that NIMC is well-positioned to meet and exceed this target, thereby contributing to the global vision of inclusive and accessible digital identification for all”.

The NIMC boss8 called for collaboration between all stakeholders saying, “As we embark on this journey, I urge all participants to embrace this opportunity for growth and development.

“Together, we can build a robust and efficient National Identification System that will serve as the cornerstone for Nigeria’s social and economic progress.”

 


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Kaspersky Discovers New Scam Scheme Targeting Businesses on Social Media

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Kaspersky experts have uncovered a new phishing scam targeting businesses that promote their pages on Facebook. Scammers send emails allegedly on behalf of Meta for Business – Facebook’s platform for businesses – claiming the recipient’s page contains prohibited content.

The email suggests users provide explanations in order for their account and page to be unblocked. The goal of the attackers is likely to get access to users’ business accounts.

Kaspersky’s anonymised data shows that such emails started reaching users on 14 December 2024, with complaints coming from organisations all over the world, including the Middle East, Turkiye and Africa.

By examining the “From” field in the email it can be seen that the domain does not belong to Facebook. According to Kaspersky data the emails that this campaign used were sent from different domains.

The link in the email redirects users to Facebook Messenger. On Messenger, the account posing as Facebook’s support team appears legitimate, creating a false sense of trust.

There is an indication that this is a fan page, but it is easy to miss in a situation of high stress after being accused of spreading illegitimate content.

This scheme stands out for its sophistication. Unlike earlier scams that accused users of copyright violations and directed them to respond via email, this approach simulates internal communication on the Facebook platform itself.

“In 2025, we anticipate a rise in attacks leveraging social engineering and user trust in major platforms. Scams like this are becoming more sophisticated as attackers strive to mimic official services closely.

“Users must remain vigilant, verify the authenticity of messages, and avoid clicking on suspicious links. We strongly advise users not to engage with suspicious accounts and to activate additional security measures, such as two-factor authentication.

“If you receive such an email, report the incident to Facebook’s support team and update your passwords immediately if any information has been compromised,” comments Andrey Kovtun, Email Threats Protection Group Manager at Kaspersky.

 

 


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