E-Business
Inlaks Launches Regional Technical Resource Centers in Ibadan and Kano

Foremost Systems Integrator specialised in the deployment of dynamic and highly scalable ICT Infrastructure solutions in Sub-Saharan Africa, Inlaks, has launched two additional Technical Resource Centres (TRC) in Ibadan and Kano to support the existing facilities in Lagos, Abuja and Enugu.
The new Technical Repair Centres modelled after the first facility situated in Ikeja, Lagos houses skilled technical engineer’s in-charge of Automated Teller Machines (ATM) repairs, maintenance, research, remote support and training purposes for Nautilus Hyosung products, a world-leader in ATM self-service solutions.
The new centers launched on Wednesday 16th and Thursday 17th December respectively will provide a conducive environment for regional ATM technical training and repairs for both engineers of Inlaks and customers while also enhancing the decentralization of spare parts distribution in the country in order to surpass the expectation of customers. The Centres will also provide in-depth research for power solutions (solar solutions, inverter and UPS).
Reiterating the company’s commitment to providing top-notch services, the MD/CEO, Africa Operations, Inlaks, Femi Adeoti, in his opening remarks explained that the need to constantly evolve and provide value for customers led to the establishment of the TRC.
“These new centres were set up after we identified that our ATM install base in the North East/West and South West has significantly grown and we decided to take on additional services to satisfy our customers.
This is a step in the right direction in getting us closer to our clients all over the country.
Delivering his welcome address in Kano and Ibadan, the Executive Director, Infrastructure Business Division, Tope Dare, highlighted Inlaks’ focus on service and innovation excellence.
In his words: “Despite the challenges in 2020, our core focus has been geared at efficiency, quality of service and motivation for our employees to deliver value. This explains the establishment of the TRCs in Kano and Ibadan, both being central locations to North East/North West and South Western regions.
The Technical Resource Centres in Ibadan and Kano will primarily distribute spare and modular parts faster, while doing repair activities as well as serve more than 780 Hyosung ATMs in North East/West and 950 ATMs in South West.
Commenting at the launch in Ibadan, the Head, Branch Experience Management, First Bank, Abimbola Ibikunle-Aina, described Inlaks as a strategic partner to the bank while noting that the establishment of the centre is a proof of Inlaks’ excellent customer service.
In her words: “I was happy to hear about the opening of the Inlaks Technical Resource Centre in Ibadan and Kano to bring service delivery much closer to us. Usually, we deal with increased wait time to receive spare parts or maintenance services. This new facility will address that and thus, proves that Inlaks listens to its customers”.
The events rounded up with a raffle draw with Ejidokun Adekunle, IT Support, Union Bank, Ibadan and Mohammed Ibrahim, Cluster Operations and Service Manager, North 2, First Bank Limited represented by Martha Ibrahim-Buba, Head, Branch Services, First Bank Kano, being lucky winners of an all-expense paid trip to the Hyosung factory and head office in South Korea.
Inlaks has deployed over 8,000 ATM’s to financial institutions to attain the market leader position with 38% market share in Nigeria. Old and new customers in the new regions are expected to benefit immensely from these centers as services are provided at minimal rates.
E-Business
FG Mulls Fibre Optic Layout to Bridge Internet Gaps

President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.
His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.
He said the fibre optic layout is part of other projects being embarked on.
“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.
“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.
He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.
In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.
The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.
Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.
It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.
E-Business
African Startups Raised $345m in Funding in May

African startups raised more than $345 million across 65 deals in May, more than double the amount raised in the same period of last year, according to a report by Briter, a research and business intelligence firm.
The report disclosed that both the number of deals and participating companies declined, confirming a growing trend of fewer companies raising funds in larger sizes.
It said fintech attracted the highest share of funding in May, accounting for 34 percent of the total, while cleantech followed closely, driven by a debt deal from Sun King. The company raised $80 million (in local currency) to expand clean energy access in Nigeria.
“Equity remains the primary instrument in terms of total value. There’s no doubt about it; in fact, equity deals with disclosed amounts captured more than half of the total funding volume in May.
“However, debt financing is increasingly proving its weight. Although it accounted for only 8 percent of all deals, it represented 32 percent of the total funding, highlighting the typically larger size of debt transactions. With the rise of specialised vehicles targeting early-stage businesses, debt is becoming an increasingly important part of Africa’s innovation funding landscape,” it said.
Briter’s report added that grants continued to play a vital role in early-stage support, especially in the education technology (EdTech) sector. The Mastercard Foundation led the pack in grant activity, funding a new cohort of EdTech innovators in Nigeria and Kenya. Each selected startup is set to receive $100,000 in grant funding, in addition to mentorship and business development support.
Multilaterals also made a strong showing in May, it said. The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group member, issued a $179.6 million guarantee to CleanTech firm KOKO Networks. The support will help scale its clean energy solutions across Kenya.
“This deal not only demonstrates growing international confidence in African climate ventures but also signals a promising pathway for other asset-intensive startups in clean cooking, agriculture, and renewable energy,” the report said.
From a geographic perspective, Egypt emerged as the continent’s fundraising powerhouse for the month, contributing 51 percent of all funding raised. The country recorded 12 deals across equity, debt, and bond instruments. Notably, FinTech platform MNT-Halan raised $50 million through a bond issuance, further illustrating the diversification of capital-raising mechanisms in the region.
Outside Egypt, funding was distributed across Africa’s three other key markets, which are Egypt, Nigeria, and Kenya, with limited activity recorded in countries such as Ghana, Tunisia, Morocco, and Uganda, each registering between one and three deals.
In terms of exits, the African tech landscape continues to mature. Three companies—Baobab+, Qardy, and Shopa—were acquired in May, bringing the total number of exits this year to 22. This already surpasses last year’s count for the same period. Qardy was acquired by Catalyst Partners Middle East (CPME) in a disclosed deal valued at $23 million, the report added.
E-Business
Human Hacking: When Cyber Criminals Target You

By Nancy Werteen
When you get anti-hacking advice, you’ve probably heard “Don’t use a simple password,” or “Don’t plug in that USB you found on the ground.”
But there’s one form of hacking that doesn’t always require a computer, and it costs businesses about 4.88 million dollars a year.
Modern hackers aren’t trying to get into your computer; they’re trying to get into you.
“They’ll try to learn about you a little bit, and they’ll try to use that information against you to try to get you to complete some action, maybe to send somebody some money,” said Kevin Moran, PhD, Assistant Professor of Computer Science, Cyber Security and Privacy Cluster, University of Central Florida.
IBM calls this human hacking, because it exploits human error instead of system error.
“With people just being busy and maybe not very carefully checking some of the emails or the phone calls that they get, can be something unfortunately that people can fall victim to,” said Moran.
Also known as social engineering, this often takes the form of phishing, where the hacker tries to “fish” the information out of you by impersonating family, friends, or even your bank.
There’s also baiting, where the hacker baits you with something of value. Remember the Nigerian prince scam?
That’s a famous example of baiting. There’s also pretexting, where the hacker will claim the victim has already been hacked, and that the hacker can fix it if you just send over your passwords. So, what can you do?
“Just as a rule of thumb, instead of clicking on links and emails, just go to the website yourself. And that will prevent, a lot of these types of attacks from happening,” explained Moran.
Phishing can take many forms.
Spear phishing targets people with access to confidential information, often to get access into an entire business, and whale phishing targets CEOs or political figures.
Search engine phishing is when hackers create fake websites promising services or goods you’ll never receive.
Angler phishing is when hackers create fake social media accounts impersonating famous people or companies.
Finally, vishing and smishing is phishing done through phone calls and texts respectively.
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