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Stanbic IBTC to Drive SMEs’ Growth Through Social Media

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Stanbic IBTC has stressed its commitment to support the growth of business in Nigeria, especially the small and medium enterprises (SMEs) through social media platform.

Speaking at a briefing in Lagos to commemorate the 2015 Social Media Week, Head, Business Banking, Stanbic IBTC Bank, Lloyd Onaghinon, said a demonstration of the organization’s commitment could be seen in its sponsorship of the Social Media Week for a record third consecutive year.

Onaghinon stated that Stanbic IBTC is steadily evolving as a digital bank and is quite active on the leading social media platforms in Nigeria, including Twitter, Facebook, LinkedIn and Instagram.

He noted that social media will be the fulcrum of future banking in reaching new, existing, and potential customers, noting that Stanbic IBTC is well-positioned to help actualize this mission.

He said the organization was recently nominated for the ‘Best Use of Social Media by a Financial Institution’ in Africa at the Social Media Africa Awards earlier this year.

Ngozi Odita, executive director, Social Media Week Lagos, stated that the social media week is a week-long conference that provides ideas, trends, insights and inspiration to help people leverage the platform to drive their businesses.

“Among others, the event, which runs February 23-28, will be a mixture of keynotes, panels, workshops, and networking events/mixers that explore a wide range of topics, including business, entertainment, education, technology and politics, all aimed at advancing the use of social media.”

As a member of the Standard Bank Group, Nkiru Olumide-Ojo, head of Marketing and Communication, Stanbic IBTC Group, said Stanbic IBTC is positioned to offer end-to-end financial solutions to all segments of the society.  

She added that the institution will continue to feel the pulse of its clientele in order to enhance service delivery, including offering top-notch services on the social media platform.

As part of activities to mark the social media week, Stanbic IBTC would be provide a series of master classes at the Stanbic IBTC MasterClass Suite at the social media week Lagos campus.

Masterclasses are the backbone of SMW Lagos, offering an exciting alternative to traditional panels designed to provide a collaborative, active learning environment where attendees are equipped with skills, knowledge, and materials that they can use for professional advancement.


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Firms Seek Specialized Expertise to Combat AI Cyber Threats – Study Reveals

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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.”

 


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EFCC Dismantles Fake Hotel Review Syndicate, Arrests 105 in Crackdown

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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.

EFCC Dismantles Fake Hotel Review Syndicate, Arrests 105 in Crackdown

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.

 


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AfDB to Partner LAMATA to Expand Existing Rail System

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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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