E-Business
Experts Proffer Ways to Protect ICT Users Against Cyber Security Crimes

Information and communication technology [ICT] experts who spoke at the recently held Indo-Africa ICT Expo in Lagos, which was declared opened by the Minister of Communication, Barrister Adebayo Shittu, have proffered solutions to protect users of ICT products against cyber security attacks in the country.
MD/CEO of Inlaks, Femi Adeoti was represented by the Executive Director, Infrastructure Business, Tope Dare, and he spoke on “Cyber Security, Perils, Protection and the Role of ICT. He highlighted some historic events that occurred in the cyberspace in 2017, citing the rise of Ponzi schemes, which promised spurious financial returns on investments and the recent Ransomware attack, the wannacry which had negative consequences on over 150 countries including Nigeria.
Dare pointed out that the emergence of crypto-currency is a major threats to cyber security in the world today.
He said, “Hackers use cryptocurrencies based on its anonymous nature of receiving and making payments and they attack the cryptocurrency exchanges by flooding them with requests, therefore, making it unusable.
“In 2018, there will be a continuous demand for cybersecurity services and functions for cybersecurity providers and the demand will come from small and large scale businesses.
“As the demand for provider’s increases, request for technology talents would skyrocket locally and internationally, which may lead to the migration of skills outside Nigeria to the rest of Africa and the world.
“The use and promotion of effective cybersecurity regulations play a key role in reducing risks of cyber-attacks; as such, the emergence of Society for Worldwide Interbank Financial Telecommunication (SWIFT), Customer Security Programme (CSP) and the European Union General Data Protection Regulation (GDPR) companies would mandate the various bodies in order not to fall victim to cyber-attacks”, he said.
He further affirmed that the country’s regulatory agencies such as the National Insurance Commission (NAICOM), Nigerian Communications Commission (NCC), National Information Technology Development Agency (NITDA) and the Central Bank of Nigeria (CBN) would need to establish and enforce regulations and codes of conducts that will protect the nation and its citizens from losses due to cyber-attacks.
In his presentation, Director General, ICT, Ekiti State, Toyin Olaniteru shared his thoughts on “securing data and protecting privacy” and averred that banks are the main targets for computer hackers and other thieves of electronic data. According to him rogue employees use swipe card skimmers to steal card numbers and related data from customers.
“The risk of losing customers’ data is critical and needs to be managed carefully. Banks and other companies are unprepared to deal with a serious data breach.
“While data security presents daunting challenges for most, there are basic steps that can be pursued to protect organizations against the worst cyber threats.
“Some of the banks apply due diligence when employing staff, and follow-up with employees can assist greatly in reducing the risks associated with data security breaches”, he said.
The CEO of Halogen Security, Wale Olaoye who was represented by the Director, Virtual Security and Strategic Market, Dayo Abegunde pointed out that everyone who owns a mobile phone, email address and password is prone to cyber security threat.
To buttress his case, he referred to artificial intelligence, internet of things, mobile, social media and cloud computing as the game changers in the ICT world.
“While these are the game changers in today’s world, they also have their challenges. Everybody who has a mobile phone is susceptible to cyber security attack.
The growing number of intelligent connected industrial and consumer devices has created new ways that intruders can gain access to network and data”.
Listing ways to overcome data breeches, Olaniteru said there is the need to encrypt data especially when dealing with customer account and personal information as well as certain categories of employee information.
He said data security protocols must be established for password protection, encryption, employee mobile devices, data placement on drives and laptop as well as continuous employee training and transfer.
“Data mapping is important to know what data your company has and on which of the systems the data is stored. The bank or any organisation must carry out diligence on employees, computer vendors etc as this will help ensure companywide compliance with security protocols”, he said.
E-Business
NITDA DG Reaffirms FG Commitment to Responsible and Inclusive AI

The Federal Government of Nigeria has reaffirmed its commitment to building a responsible, inclusive, and sovereign artificial intelligence ecosystem to enable Nigeria to transition from being a passive consumer of AI technologies to an architect and builder of indigenous AI systems.

This was said by the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi CCIE, while delivering a virtual address at the InnovateAI Conference held in Lagos.
The conference brought together policymakers, technology leaders, innovators, and stakeholders to discuss the future of artificial intelligence and its role in driving Nigeria’s digital economy and national development agenda.
Inuwa outlined Nigeria’s ambition to transition from being a consumer of artificial intelligence technologies to becoming a builder and owner of AI systems that reflect national values and priorities, in line with the National AI Strategy.
“Our goal is not just to use AI, but to architect and build our own AI systems in Nigeria,” he said, stressing that the country must take ownership of its AI future.
He noted that Nigeria’s approach to artificial intelligence extends beyond innovation to include governance, infrastructure, data sovereignty, and policy evolution.
According to him, “Responsible AI is never a finished job; it is an iterative journey. Our policies must evolve as the technology evolves, and we must avoid frozen laws by adopting living policies that adapt over time.”
He cited the implementation of the Digital Economy and E-Governance Bill as a key mechanism for generating insights that will help refine AI regulations and governance frameworks.
Inuwa also highlighted the challenge of data representation in global AI systems, noting that most models are trained on non-African datasets, which often results in bias against local dialects, cultures, and demographics.
“If a model shows bias against a local dialect or demographic, we cannot just patch it. We must reinvest in infrastructure to retrain it with inclusive and representative local datasets,” he stated.
He added that building national AI infrastructure is critical to achieving data sovereignty and ensuring that Nigeria is not merely an end user of foreign AI systems.
He further called for strategic partnerships with global technology companies and hyperscalers to build AI infrastructure in Nigeria while aligning with local values and national priorities.
“The world today is a global village. We need to work with global players, but they must understand our local nuances and help us build the infrastructure to retrain and develop AI models that reflect our context,” he said.
The NITDA Director General explained that adopting a comprehensive AI lifecycle approach, from responsible data collection and governance to deployment and continuous feedback, will enable Nigeria to move from reacting to AI developments to proactively designing indigenous AI systems.
“Without understanding how AI models are trained, how decisions are made, and how models are retrained, it will be difficult to build a responsible and trustworthy AI system,” he warned.
He reaffirmed that the Federal Government is intentional about promoting responsible AI and is working closely with the technology ecosystem to co-design national AI guardrails. He described platforms such as the InnovateAI Conference and other national AI dialogues as critical to shaping Nigeria’s AI future.
E-Business
Mutual Benefits Assurance Settles ₦5.9bn Claims in January 2026

Mutual Benefits Assurance, a leading Nigerian insurance company, has paid a total of ₦5,937,665,353.57 in claims to policyholders in January 2026 alone, underlining its strong financial capacity and unwavering commitment to prompt claims settlement.

Mutual Benefits Assurance
A breakdown of the figures shows that ₦3,426,602,834.28 was paid under its General (Non-Life) Insurance portfolio, while ₦2,511,062,519.29 was paid across its Life businesses, including Group Life and Retail Life policies.
The significant payout within a single month reinforces Mutual Benefits’ reputation as a dependable insurer that honors its obligations swiftly and responsibly.
Commenting on the development, Olufemi Asenuga, Managing Director, Mutual Benefits Assurance Plc stated that claims settlement remains the core promise of insurance and the ultimate test of an insurer’s credibility.
“Insurance is built on trust. Our ability to settle over ₦5.9 billion in claims in one month demonstrates not only our financial strength, but also our deep commitment to our policyholders. At Mutual Benefits, we do not just sell policies. We stand by our promises,” he said.
With over three decades of operations, Mutual Benefits has consistently positioned itself as a strong and well-capitalised insurer.
The company operates both Life and General Insurance businesses and remains fully compliant with regulatory capital requirements as stipulated by the National Insurance Commission (NAICOM).
The January payout reflects Mutual Benefit’s robust underwriting standards, prudent risk management practices and efficient claims administration framework.
It also aligns with the company’s broader record of substantial claims settlement in recent years, reinforcing its standing as a trusted brand in the Nigerian insurance industry.
Mutual Benefits employs over 5,000 staff, managed by seasoned management team and an experienced Board of Directors. Industry observers note that prompt claims payment remains one of the most critical differentiators in Nigeria’s competitive insurance landscape.
By consistently settling valid claims without delay, Mutual Benefits continues to strengthen customer confidence, deepen market trust and expand its footprint across retail and corporate segments.
As the company begins 2026 on a strong footing, it reiterates its commitment to innovation, service excellence and delivering value to policyholders and stakeholders alike. Mutual Benefits Assurance focused on its mission to provide reliable risk protection solutions while maintaining the highest standards of professionalism and integrity.
E-Business
NITDA Warns Nigerians of Actively Exploited Microsoft Office Vulnerability

National Information Technology Development Agency (NITDA) has issued an urgent cybersecurity warning about a serious Microsoft Office vulnerability (CVE-2026-21509) that attackers are actively exploiting.

This advisory, shared through Nigeria’s Computer Emergency Response Team (CERRT.NG), highlights the risks of this flaw and recommends immediate action to protect systems.
Microsoft has released quick security updates to fix this vulnerability, which has a severity score of 7.8, showing it is a serious risk. Attackers have already used it in targeted attacks.
CVE-2026-21509 affects multiple versions of Microsoft Office, including Office 2016, Office 2019, Microsoft 365 Apps, Office 2021, and later versions.
This flaw allows attackers to bypass security features meant to stop harmful Object Linking and Embedding (OLE) controls. OLE is an older Microsoft technology that can be used to embed links or content, but it has often been exploited by malware.
By exploiting this flaw, attackers can create specially designed Office documents.
When a user opens these documents, they can run malicious code or gain further access to the system.
Exploitation requires user interaction, meaning attackers often trick people into opening harmful Word, Excel, or other Office documents. Common methods include using email attachments or files from untrusted sources.
Because Microsoft confirmed that the vulnerability is being actively exploited, they have made emergency security updates available outside their usual schedule. Users and organisations should:
- Install the latest Microsoft Office security updates for all affected versions.
- Restart Office applications for Office 2021 and later to ensure that the updates take effect.
- Use registry-based settings for protection if updates can’t be applied right away.
- Follow good cybersecurity practices, like using endpoint protection and filtering emails.
Microsoft’s updates for Office 2021 and newer versions are automatically applied, but need a restart of the applications to be active.
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