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Osinbajo Applauds NITDA @ 30th Edition of MSME Clinic in Borno
Vice President Professor Yemi Osinbajo, GCON, has commended the giant strides recorded by NITDA in relentlessly supporting small and medium businesses across the length and breadth of the country. The VP made this commendation at the 30th edition of the MSME clinic held in Borno state during his speech to the participants and stakeholders at the Multi-purpose Hall and pavilion of exhibitors inside the Government House, Maiduguri.
The 30th edition witnessed the most significant number of participants across the country. Various stakeholders commended NITDA in the ecosystem for the support of MSMEs in Nigeria.
Osinbajo echoed that the MSME clinic served as the bridge between the Federal government, State government and small businesses in every state by bringing all relevant regulatory agencies together in one place to work with experience and help the small businesses to solve their problems. The VP said, “the idea is similar to providing an opportunity for patients to consult doctors of mobile clinics.”
The aim of the FG for MSMEs is to establish one-stop shops. All facilities are provided for small businesses to benefit from the services, with working synergy of regulatory agency which will be more readily accessible and cost beneficial.
He mentioned the importance of shared facilities for MSMEs as another innovation. He assured participants of the FG’s full support for the cost of the shared facilities with the latest equipment. The shared facilities or shop facilities are meant to relieve the financial burden for the overall benefit of youth and women.
The VP urged the MSMEs to utilise the matching order of the FG to tap into this great opportunity with relevant government agencies like NITDA, which supports MSMEs from scratch.
Earlier, the Honorable Minister of State, Trade and Investment, Ambassador Maryam Katagun, in her remarks, outlined the support of NITDA in small businesses by creating opportunities for them to thrive, saying, “this is imperative for increasing productivity, creating jobs and boosting our economy.”
“Since its inception in 2017, the MSMEs clinic has served as an effective platform to enable government interaction with stakeholders across all sectors to ensure that all MSMEs have the supports they need to grow and flourish,” she said. Adding that, “it is also imperative to mention that clinics periodically organised by the Federal Ministry of Trade and Investment with the collaboration of the office of the VP have significantly impacted the sub-sector.”
According to her, “the 30th edition was intended to provide MSMS with critical information, regulation and additional assistance, avail businesses with immediate expert advice, as well as offer more in-depth advisory services.”
Katagun mentioned that the MSME clinic is provided with a single point of access that can improve potential business and support, particularly for youth and women in MSMEs to use socio-economic dividends. “The clinic is targeting youth and women as the economic actors of change,” she declared.
The Minister observed that MSMEs activities and exhibitions in Borno state demonstrate the FG’s determination to reposition the sub-sector for more efficient growth and development by institutionalising a culture of responsive and supporting services MSMEs that is prepared to improve the ease of doing business.
On its part, NITDA promised to continue its nationwide support to MSMEs for economic impact and growth that will change the dynamic nature of the analogue business model to digital innovation.
News
Firms Seek Specialized Expertise to Combat AI Cyber Threats – Study Reveals
As concerns about the use of AI in cyberattacks increase, companies worldwide are racing to bolster their cybersecurity strategies, according to a Kaspersky survey.
In a new study the cybersecurity company revealed that 92% of IT and Information Security professionals surveyed in the Middle East, Turkiye and Africa (META) region expect the use of AI by malicious actors to escalate over the next two years.
This growing threat is prompting organisations to prioritise cyber defense expertise, with many turning to cybersecurity vendors for specialised support and training.
In its latest study titled “Cyber defense & AI: Are you ready to protect your organisation?” Kaspersky gathered insights from IT and Information Security professionals across SMEs and large enterprises. The findings underscore the urgent need to prepare for AI-driven cyberattacks.
To combat these evolving threats, companies place high value on cybersecurity expertise, with 94% of respondents in the META region highlighting the importance of growing internal expertise through training for in-house employees, and 93% underscoring the need for external expertise provided by cybersecurity vendors. This need spans sectors from retail to critical infrastructure, emphasising a universal demand for advanced threat protection.
To reinforce their cyber protection, organisations are actively integrating both internal and external expertise. Currently, 36% of companies surveyed in the META region are either implementing or planning to deploy external support to adapt to the evolving threat landscape, while 34% are doing the same through internal training initiatives. Additionally, 61% already use external cybersecurity expertise, and 62% have training programs in place, underscoring a dual approach in fortifying their protection.
Cybersecurity vendors’ expertise can come in various forms, from specialised professional services that help organisations deploy their protection solutions, to advanced expert centers that focus on specific security challenges.
One of these centers is the Kaspersky AI Technology Research Center. It brings together the company’s AI research and development efforts, to deepen the protective capabilities of cybersecurity solutions.
Vladislav Tushkanov, Group Manager at the Kaspersky AI Technology Research Center, says: “Our latest survey shows that businesses are acutely aware of the rising threat from AI-driven cyberattacks and are looking to reinforce their protection through comprehensive solutions, including the use of vendors’ extensive cybersecurity expertise.
The Kaspersky AI Technology Research Center plays a pivotal role by helping us leverage AI advancements to enhance our threat protection strategies and explore innovative ways of using AI in cybersecurity. It also enables us to address security concerns specific to AI itself, ensuring that businesses are prepared for the latest AI-driven threats.”
News
EFCC Dismantles Fake Hotel Review Syndicate, Arrests 105 in Crackdown
Economic and Financial Crimes Commission (EFCC) has dismantled a fake hotel review syndicate and arrested four Chinese nationals and 101 Nigerians for their roles in the elaborate internet fraud scheme.
Victims were allegedly first lured into rating hotels in exchange for small sums of money.
Eventually they would be encouraged to make bookings in any of the rated hotels for as much as $500.
They were told that the company would pay them back with chunky interest into a crypto wallet bearing their names.
However, the victims would in the end not be able to open the wallet.
EFCC announced that the suspects operated out of Naka Hall Plaza on Abutu Garba Street in Gudu, Abuja, where agents recovered 100 compact workstations.
Dele Oyewale, spokesman, EFCC, said the suspects used fake foreign identities to target unsuspecting victims, primarily U.K. residents.
Authorities said the criminal network was allegedly led by the Chinese nationals, who recruited and trained Nigerian youths with advanced technical skills to act as customer service representatives.
These representatives followed a predesigned script to deceive their victims online.
The operation follows a separate crackdown weeks earlier, in which 792 suspects — including 148 Chinese nationals — were arrested for involvement in cryptocurrency and romance scams.
The foreign nationals allegedly used corporate apartments disguised as business centers to train their Nigerian accomplices. These accomplices were reportedly taught to initiate romance and investment scams and use their own identities to carry out fraudulent activities.
The EFCC also highlighted a concerning trend of foreign nationals instructing Nigerians in internet-related crimes.
News
AfDB to Partner LAMATA to Expand Existing Rail System
The African Development Bank (AfDB), has disclosed plans to work with the Lagos Metropolitan Area Transport Authority (LAMATA), to boost the state’s transport system with the development of another rail line.
This was contained in a statement signed by, the Head, Corporate Communication, LAMATA, Mr. Kolawole Ojelabi in Lagos.
Ojelabi said that the AfDB Vice President, Private Sector Infrastructure and Industrialisation, Mr. Solomon Quaynor, gave the assurance during a visit to LAMATA.
He added that the bank was interested in partnering LAMATA to expand the capacity of the existing rail system.
“Quaynor was also in the company of the Non-Sovereign Operations and Private Sector Equity Specialist, Mr Mayowa Ayodele ahead of a visit of the technical team to assess the Purple line,” he said.
The Purple Line is a 60-kilometre railroad along the Redemption Camp in Ogun State, traversing Berger, Agege and Alimosho and terminate at Volkswagen to join the Blue Line.
“The visit follows a recent pitch for investment on 60-kilometre Lagos Rail Mass Transit (LRMT) Purple Line at the African Development Bank forum in Morocco, where the Lagos delegation was led by Governor Babajide Sanwo-Olu.
“This is to further discuss collaboration on the project and other lines outlined in the Lagos Strategic Transport Master Plan. The delegation toured the LRMT Blue Line and expressed satisfaction with the progress of the Blue Line rail system,” he said.
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