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PFS Achieves CMMI-DEV Rating, Strengthens ICT Sector’s Trust

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Yele Okeremi, MD/CEO, PFS
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Having satisfied the requirements of all process areas of Capability Maturity Model Integration [CMMI] appraisal, Nigeria software powerhouse, Precise Financial Systems [PFS] has strengthened the information and communication technology [ICT] sector of the economy with achievement of CMMI level 3.

Shohel Noor, general manager, Nihilent West Africa, the company that performed the appraisal, said PFS has invested effort and tools in institutionalizing the Maturity Level 3 practices. The adoption of CMMI by PFS “is strengthening Nigerian ICT sector’s trust in the CMMI framework and in Nihilent as a partner”.

Managing Consultant and CMMI Lead Appraiser, Nihilent Technologies Ltd., Pune, Deepak Manjareka, informed that PFS is one of the fastest growing software companies in West Africa. He added that the company has demonstrated the best use of various software engineering tools for better security, delivery, and institutionalization of Maturity Level 3 practices.

“CMMI is applied to create a process improvement solution that is appropriate to the context of each unique organization. It provides a path for an organization to achieve its performance goals. A CMMI-driven improvement project delivers a framework to standardize processes, ensuring that a business’ best practices are captured, shared and adopted so that it can move staff around the organization and those who leave the organization would not take business critical information away with them”, he said.

Competition is driving significant interest in CMMI. Development companies, service provider, and acquisition/outsourcing organizations are adopting CMMI as a differentiator and enabler to enhance performance.

Competing companies are leveraging CMMI for industry best practices, and have adopted the approach to meet customer demands and competition. The growing popularity of CMMI in the market is also a big reason of adoption of this practice by companies.

CMMI is a process improvement training and certification programme, marketed by Carnegie Mellon University. Government agencies and many organizations required CMMI for software development contracts.

It has 25 different process areas that cater to comprehensive business process improvement and solution. Each CMMI process area has two goals, two practices, and many educational information to help management make the right strategies.

The certification applies to sub-contractors that provide custom software to companies or create solutions for the government. These companies must follow CMMI or be covered by their clients.  Parts of the software product delivered to the government must follow CMMI in the supply chain.

Yele Okeremi, MD/CEO, PFS, said the CMMI appraisal has a global impact on the company since software firms are no longer competing locally, but globally. He added that Nigeria needs to conserve foreign exchange and one of the ways to do this is by developing world-class solution, “this is what the CMMI has helped PFS to achieve”.

He said CMMI not only rated the maturity of the company’s process. It provides a level of assurance that the company engaged for the project would complete it on time and price quoted. “The country needs to build capabilities and enhance competencies in order to compete internationally. Therefore, for Nigerians “who have penchant for consuming foreign software, better quality options are here”.

CMMI appraisal for development has many advantages. CMMI would lead to the development of better quality products. As such, “Now we have improved our processes and any government agencies and private firm that engage PFS means that the products we are providing will be of high quality”.

According to him, another benefit CMMI has brought to the company is that with the certification, the company can now provide accurate schedules and realistic timelines, which would lead to realistic deadlines for product releases. “The CMMI appraisal therefore provides the best practices throughout the product lifecycle to ensure we offer timely delivery and quality products to clients”.

He explained that the quality of software is only as good as the process used to develop and maintain it. According to him, a software organization “is competing in the marketplace. Its software process is a critical success factor. Well thought out improvements to the process will significantly contribute to the organization’s performance. That is what CMMI has done for PFS”.

Okeremi said Nihilent West Africa is one of the recognized CMMI Institute partners. CMMI provides a proven approach that has enabled diverse organizations to realize benefits in terms of dramatically improved project predictability and consistency.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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E-Business

Firm Finds Leaked Netflix, Roblox and Discord Accounts Registered on Corporate emails

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Employees may also use corporate emails to register for personal accounts on marketplaces and social media, increasing the risk of account theft and corporate security breaches, according to a study by Kaspersky Digital Footprint Intelligence.

Kaspersky shares these findings and suggests key cybersecurity practices to mitigate the risks of credential leaks.

Kaspersky experts analysed compromised credentials leaked on the dark web between 2019 and 2024 for three popular entertainment platforms: Roblox, Discord and Netflix. The analysis revealed that, on average, 7% of users whose accounts were leaked had registered on these platforms using a corporate email address.

“Registering on various services for personal use with a work email is not best practice. First, you may lose access to these accounts if you change jobs. Second, it can pose security risks for both you and your company.

“If your passwords follow a predictable pattern across different services – for example, ‘Word2025!’, where ‘2025’ is a recurring part – it increases the likelihood of other accounts being compromised, including your work account, should your corporate email be exposed in a dark web leak,” explains Sergey Shcherbel, expert at Kaspersky Digital Footprint Intelligence.

Kaspersky experts also found that bank employees most commonly registered their work email addresses on streaming services, marketplaces and social networks. In a few cases, corporate emails were also used as logins on gaming platforms and adult content websites.

Corporate email usage on entertainment platforms: statistics from a sample of 50 banking sector companies.

To conduct this study, experts compiled a sample of 50 banking sector companies and examined compromised credentials leaked on the dark web, identifying those linked to the corporate domains of these companies across five categories of popular platforms.

Learn more in the report. In light of this growing infostealer threat, Kaspersky has launched a dedicated landing page to raise awareness of the issue and provide strategies for mitigating associated risks.

If you encounter a data leak through infostealers, the following steps should be taken immediately:

  • Change compromised account passwords and monitor for suspicious activity associated with those accounts.
  • Run full security scans on all devices, removing any detected malware.
  • Companies are recommended to monitor dark web markets proactively to detect compromised accounts before they pose risks to customers or employees. A detailed guide on setting up monitoring can be found here. Leverage Kaspersky Digital Footprint Intelligence to track what cybercriminals know about your company’s assets, identify potential attack vectors, and implement protective measures in a timely manner.
  • As an enterprise, implement a security awareness program for employees, including regular training and performance assessments. Enforce a strict password policy for all corporate resources to reduce the risks of encountering credential-related cyber threats.

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NDPC, Mastercard Partner to Strengthen Data Protection

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Dr. Vincent Olatunji, commissioner, NDPC and Derek Ho,deputy chief privacy officer, Mastercard
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Nigeria Data Protection Commission (NDPC) has signed a Memorandum of Understanding with Mastercard to enhance data protection in Nigeria.

Dr. Vincent Olatunji, commissioner, NDPC and Derek Ho,deputy chief privacy officer, Mastercard

The agreement was sealed during a workshop where 150 Data Protection Officers (DPOs) were trained on Data Protection Impact Assessments (DPIAs).

Dr. Vincent Olatunji, commissioner, NDPC, said the event kicks off activities for the 8th NADPA conference, highlighting government efforts to train more certified DPOs.

Olatunji also disclosed the Federal Government’s commitment to increasing the number of certified DPOs with the required skills to manage data protection.

He noted that Nigeria’s digital-savvy youth are key to driving this agenda.

“Human capital is really key to us, and the ecosystem we are regulating is very special. It is still new, still emerging, and we need all we can to build the capacity of officers.

“We want to build the capacity of our people so we can be able to deliver on our mandate and fully deepen privacy in Nigeria.

“We are targeting to build the capacity of 250,000 DPOs annually, and we are working with partners like Mastercard to achieve that,” he said.

Derek Ho,deputy chief privacy officer, Mastercard,  also stressed the need for collaboration to build trust in the digital economy and urged participants to embrace training as data protection keeps evolving.

 

 


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CSCS Launches *7270#, USSD Code Service

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Central Securities Clearing System PLC (CSCS) has announced the launch of *7270#, its Unstructured Supplementary Service Data (USSD) code service, set to go live on May 8th, 2025.

CSCS Launches *7270#, USSD Code Service

The USSD code service is an innovative solution designed to enhance the ease and accessibility of investment services for all users.

Also, this service leverages the network capabilities of MTN Nigeria to bring unparalleled convenience to investors.

Driven by a relentless commitment to innovation, CSCS aims to revolutionize information access within the Nigerian capital market through this USSD code service.

As the Central Securities Depository (CSD), CSCS focuses on enhancing investor experiences and providing deeper market insights with unparalleled convenience.

The CSCS USSD code service offers seamless access to essential market information directly from mobile phones, eliminating the need for internet connectivity or specialized trading platforms.

Investors can now effortlessly retrieve Clearing House Number (CHN), check Direct Cash Settlement (DCS) status, view stock positions, account balances, and account status confirmations.

Haruna Jalo-Waziri, managing director/chief executive officer of CSCS, said ” We are excited to launch the *7270# USSD code service, a significant step in leveraging mobile technology to democratize access to account and portfolio information.

“This service empowers every investor, regardless of their location or resources, to stay informed about their investments. At CSCS, we believe that financial inclusivity is key to driving economic growth.

“Our partnership with MTN Nigeria on this project represents a significant leap toward a more inclusive financial landscape, leveraging the spread of the MTN network.

“This collaboration enhances the investing experience, reinforcing our shared commitment to empowering individuals with the tools they need to manage their financial futures effectively.” he added.

The CSCS USSD code service will initially be available to MTN users only. However, CSCS plans to expand this service to other networks soon.

This innovative service offers investors streamlined and secure access to critical market information at their fingertips.

Aisha Umar Mumuni, chief digital officer of MTN Nigeria, said, “This collaboration with CSCS on the *7270# USSD service underscores MTN’s commitment to harnessing the power of mobile technology to simplify complex processes for our users.

“By making critical investment information available at the touch of a button, we are helping to democratize access to the capital markets and, in the process, enhance investor engagement and market transparency,” she said.

CSCS continues to lead the way in technological advancements, reinforcing its position as a pivotal player in the Nigerian capital market ecosystem.

This initiative underscores our dedication to enhancing market efficiency and empowering investors with the tools they need for informed decision-making.

 


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