General News
Technology is Major Challenge for Cybercrime Investigators – Akindeinde
Oluseyi Akindeinde, chief technical officer, Digital Encode and manager, Centre for Information Security Intelligence, is well grounded in IT security and Connectivity space of Information Technology.
Akindeinde plays a leading role in assisting some banks to acquire PCI DSS certification as required by Central Bank of Nigeria (CBN) and is offering training to Banks on securing their networks against hackers.
He spoke to chike onwuegbuchi on issues around cybersecurity.
Threat of Cybercrime to the Country
Cyberspace is a place of innovation and opportunity, and full of good people. But it is also a place of risk and danger, where bad actors take advantage of security weaknesses to cause harm. Cyberspace is vulnerable to an ever-evolving range of threats, from criminals to nation-state actors, ranging in purpose from identity and data theft to espionage and disruption of critical functions.
As our nation’s reliance on cyber networks has grown, incidents which impact the safety and confidence with which we operate online have become increasingly commonplace
Cybercrime is on the increase. The number of incidents of cybercrime has been increasing in recent years even though there have been a number of concerted efforts by industry stakeholders to raise awareness of the problem.
We need to understand that cybercrime is very lucrative and is a relatively easy way for criminals to make money.
The tools, techniques and services to perpetrate crimes can easily be found or purchased through the Internet, while mobile technology and the trend towards outsourcing and sharing data potentially heightens exposure
Nigeria’s Effort in Tackling Cybercrime
At the moment, a lot more needs to be done to curb the menace of cybercrime in Nigeria. The legal system is neither adequate nor sufficient to prosecute offenders in the areas of electronic communications and transaction in Nigeria.
Whilst the Evidence Act appears to support the admissibility of computer-generated evidence in court, enforcement still remains a major problem because of the various conditions attached.
Another challenge facing cybercrime investigators is that the evolution of technology is dynamic and at the introduction of new technologies, the fraudsters devote time and resources to detecting the inherent vulnerabilities. The cyber criminals are well organized and vast in the use of technology. They are well ahead of the crime investigation agencies in Nigeria.
Impact of Cyber Security Law When Signed
The Cybersecurity Act proposes to create a set of government-imposed, top-down regulations to combat cybersecurity threats. It further recognizes that it is a major offense. When someone steals physical cash the person gets prosecuted.
It should be the same for anything electronic because most transactions these days are electronic.
Secondly, it impacts the principal tension in cybersecurity – which involves computers, networks and data and is between the need to protect citizens, property and infrastructure and the need to respect legal, civil and property rights.
Level of Preparedness of Banks to Put hackers in Check
There are different types of cybersecurity threats, each of which target different parts of a financial institution’s information technology infrastructure and each with its own goal. Broadly, they can be divided into three categories:
◾Theft/fraud, where the motive is profit.
◾Espionage/exposure, where the motive is to acquire private or protected information.
◾Disruption/destruction, where the motive is to cause harm or loss through an attack designed to slow, disable or destroy critical systems and operations.
Each of the categories represents different objectives and motivations for attack, and most banks have put in place solutions that can appropriately address the threat and therefore combat it effectively. In it’s efforts to promote compliance, the CBN has mandated the banks and all financial institutions to comply with all international information security standards from the Payment Card Industry Data Security Standard (PCI DSS) to the ISO 27001 Information Security Management System (ISMS)
Challenges in Fighting Hackers
One major challenge is capacity building. The cyber security landscape is an ever changing one and defenders need to be well informed to combat sophisticated cybercrimes.
To reduce the rate of cybercrime in Nigeria, therefore, adequate training of those who run and manage the investigation incident response departments of the various financial institutions is a must.
In the move to a cash-less economy, regulatory agencies and lawmakers should equally as a matter of urgency, collaborate to pass a Cybercrime law in order to protect consumers in the cash-less scheme.
All financial institutions should, as a matter of urgency, build and equip digital forensics and incident response units.
Computer Emergence Response Team (Cert) in the Fight Against Cybercrimes
A CERT is very important to a nation like ours. CERTs, law enforcement, users, and security organisations all play a role in fighting cybercrime.
Whilst law enforcement is pretty much involved in prevention and prosecution of crime, A CERT is responsible for coordinating services in the event of a security breach and to help affected organizations recover from a breach.
Organizations often go to their CERT first in the event of a breach for fear of the legal ramifications and public embarrassment of a breach.
If law enforcement isn’t being informed about security breaches and impacts, they don’t get any intelligence on what’s going on, and that intelligence could be used to prosecute.
About Digital Encode
Digital Encode is a leading consulting and integration firm founded in 2003 that specializes in the design, management, and security of business-critical networks, telecommunications environments and other Information Technology (IT) infrastructures, recognized in the industry for its vendor independent perspective, the firm’s expertise lies in solving multifaceted, complex enterprise network security, and audit problems.
Protecting Networks against Hacker
It isn’t so much about what to or what not to put in place. There needs to be a top-down approach to cyber security.
Processes and procedures need to be instituted to complement the various technologies that are already in place.
To this end organisations should consider and adopt the ISO 27001 ISMS as a framework to safeguard customer data.
Abba Aliyu, the Chief Executive Officer, Rural Electrification Agency (REA), says the agency has provided electricity access to about eight million Nigerians out of the 90 million people said to be without electricity supply.
He stated that the electricity provision was made under the Nigeria Electrification Project in line with the Federal Government’s commitment to close the energy deficit gap. He added that the agency planned to ensure that many more Nigerian benefit from the scheme in 2025.
Aliyu said: “There are reports that many Nigerians don’t have access to electricity. But under the Nigeria Electrification Project, we have provided electricity to eight million Nigerians. We also have a programme that is targeting 17.5 million people. So, in three years 17.5 million people will also be out of darkness.
“We are currently working on deploying 42 interconnected mini-grids, and six have already been completed in Osun, Plateau, Cross River, and Niger State. “We are moving away from the traditional concept of government issuing contracts. What we are doing is incentivising the private sector to deploy infrastructure.
This ensures sustainability because they have their own money at stake.” He added: “It is a myth to continuously think that government infrastructure is deployed and not working. The projects we are deploying, more especially those under the private sector, are working.
“Part of the discussion during the President’s visit to Japan was a $190m co-financing agreement with JICA for the distributed access programme. That will provide electricity to an additional 1.83 million Nigerians.
“Before this administration, the country only had 120 megawatts of solar assembly capacity. Today, we have over 600 megawatts, and with new projects signed, Nigeria will soon hit close to three gigawatts. This shows that dependence on imported panels is being reversed.”
Exhibitors at the recently concluded Fidelity Nigeria International Trade & Creative Connect (FNITCC) in Atlanta, Georgia have lauded the event as a transformative platform for showcasing Nigerian non-oil exports and businesses on the global stage.
Hosted by Fidelity Bank Plc in collaboration with AFRICON from September 18 to 20, 2025, FNITCC brought together innovative, export-ready Nigerian enterprises across diverse sectors—including fashion, arts, manufacturing, and technology—creating a vibrant space for commerce, connection, and cultural celebration.
Praised for its energy and flawless execution, FNITCC Atlanta 2025 marked a significant leap forward from previous editions. With increased attendance, enhanced booth setups, and deeper engagement, participants described the experience as “a clear step up” and “more impactful than ever.”
“It was an honor to exhibit among such a vibrant community of creatives, entrepreneurs, and cultural ambassadors. We left FNITCC 2025 with new customers, meaningful connections, and a renewed sense of purpose. Well done to Fidelity Bank for championing Nigerian businesses and bridging global markets,” shared the By Nuga Designs team.
Exhibitors also highlighted the power of community and resilience, recounting moments of spontaneous international deals and heartfelt support.
“Last year, I was devastated when our goods didn’t arrive on time,” one exhibitor recalled. “But this year, even in my absence, my fellow AWE sisters stepped in. A surprise visit from a buyer led to an impromptu video-call deal that changed everything. FNITCC reminded me that connections often matter more than sales.”
Gratitude flowed freely for the Fidelity Bank team and the behind-the-scenes contributors who ensured the event’s success.
“On behalf of FSGF AFRICA LTD, I extend our deepest gratitude to Fidelity Bank for hosting such a wonderful event,” said another exhibitor. “To the Fidelity team—your warmth, professionalism, and commitment made this experience truly remarkable.”
FNITCC 2025 also celebrated Nigerian excellence and the rising influence of women-led businesses.
“Wow! Sisters online, making the impossible possible! This is the Africa we want. Nigerians are believing in Made-in-Nigeria products—and that belief is powerful,” shared one emotionally moved participant.
“Fidelity is carving out a big slice in Nigeria’s story of entrepreneurs and entrepreneurship—and doing it with focus,” added another.
Reflecting on the vision behind FNITCC, Dr. Nneka Onyeali-Ikpe, Managing Director and CEO of Fidelity Bank Plc, reaffirmed the bank’s commitment to expanding Nigeria-U.S. trade beyond oil. She noted that while Nigeria’s non-oil exports currently stand at under $5 billion annually, the potential is immense. “At Fidelity Bank, we believe access to global markets is a pathway to shared prosperity. That belief inspired the creation of FNITCC,” she said.
FNITCC 2025 demonstrated that when Nigerian innovation meets global opportunity, extraordinary outcomes follow. As Fidelity Bank continues to invest in platforms that amplify local talent and drive cross-border growth, the future of Nigerian enterprise shines brighter than ever.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
BlackHouse Media (BHM) in partnership with Allison Worldwide, and The King’s Trust Group has announced the stellar line-up of speakers for the second edition of the exclusive Africa Breakfast Conversations (ABC), taking place on Friday, 26 September 2025 at the World Trade Center, New York, on the sidelines of the 80th United Nations General Assembly (UNGA 80).
Headlining the event is an exclusive fireside chat featuring one of Africa’s most influential business leaders, Aigboje Aig-Imoukhuede — Chairman of Access Bank, CEO of Coronation Group, and a member of The King’s Trust Africa Advisory Board. Aig-Imoukhuede, one of Africa’s most respected bankers and investors, and his session will focus on Africa’s Investment Landscape, exploring high-impact investment opportunities, bridging African entrepreneurs to global capital, and unlocking Africa’s youth as an investment engine.
Under the theme “African Innovation: Building Together for Sustainable Development,” this high-level gathering will unite influential voices from business, government, technology, media, and philanthropy to explore how African-led innovation and cross-sector partnerships can fast-track progress toward the UN SDGs.
The 2025 edition features high-level conversations, including a panel titled, Generation Potential — Powering Africa’s Youth Through Nutrition, Skills, Access & Opportunity. This panel session will feature bold conversation on fueling Africa’s future through nutrition, education, and opportunity and will feature the following panelists:
- Wawira Njiru, Founder & CEO, Food4Education; delivering 500,000+ daily subsidised school meals in Kenya while building local supply chains and creating jobs for youths and women.
- Geoffrey Kasangaki, CEO, Asante Africa Foundation; equipping 800,000+ rural youth with life skills, leadership training, and job readiness training to accelerate classroom learning and develop future leaders, confident job seekers and innovative entrepreneurs.
- Abeiku Greene, Outgoing Executive Director, Junior Achievement Ghana; preparing over 200,000 youth for the future of work through financial literacy and entrepreneurship education.
- Ben Ovio, Chief Responsibility Executive, ENDIP International, advancing education, youth enterprise development, technical vocational skills training, and community empowerment to create sustainable impact across West and East Africa.
The panel will be moderated by Claudine Moore, Managing Director, Africa, Allison Worldwide and one of ABC’s hosts.
Panel two will focus on Africa’s Role in the Future of Technology, Media, AI & Finance, exploring how Africa’s tech and creative ecosystems are shaping global influence. This will be led by leading industry experts and business leaders including:
- Iyin Aboyeji, Founding Partner, Future Africa; co-founder of Flutterwave and Andela, catalysing Africa’s tech start-up economy.
- Ayeni Adekunle, Founder & CEO, BHM; redefining modern PR and brand storytelling across Africa’s creative industries.
- Kayode Akintemi, Managing Director, News Central TV; building one of Africa’s fastest-growing pan-African news platforms.
- Cuppy, DJ, Philanthropist & King’s Trust Global Ambassador; championing youth empowerment and education through her global platform.
- Sonny Irosche, Senior Academic Advisor, African Studies Centre, Oxford University & AI for Business, Said Business School, providing strategic insights on AI adoption and governance in Africa.
This panel will be moderated by Wendu Nwakanma, Vice President, Northeast Regional Business Development Lead, Goldman Sachs.
The event will also feature the launch of the Second Edition of the Africa Business Cultural Intelligence Report by Allison Africa, offering actionable insights for global and pan-African businesses operating in five high-potential economies including Ghana, Rwanda, Egypt, Angola, and Côte d’Ivoire.
“Africa’s growth story is real and the Africa Breakfast Conversations is fast becoming the go-to platform for authentic cross-sector collaboration around Africa’s development”- Claudine Moore, Managing Director, Africa at Allison Worldwide. “From youthful innovators to tech disruptors and global investors, the event will spark the bold ideas, partnerships, and investments that will power Africa’s next decade of growth.”
Launched in 2024 by Allison Worldwide and BHM in partnership, Africa Breakfast Conversations was created to foster meaningful dialogue between African innovators, global investors, and development leaders during UNGA. Click here to register to attend
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