The Nation Newspaper

Category: e-Business

  • SystemSpecs seeks special fund to drive financial inclusion

    Indigenous tech firm, SystemSpecs Limited, has called on the Central Bank of Nigeria (CBN) to establish a special fund to deepen its financial inclusion goals.

    Its Executive Director, Deremi Atanda, who spoke on the sidelines of Digital Pay Expo in Lagos at the weekend, said there are many issues around the push for financial inclusion, adding that literacy is one of them.

    He stressed the imperative for a special fund to drive financial inclusion, adding that the Universal Service Provision Fund (USPF) is an example of the intervention the Federal Government could make to ease the drive on the lenders.

    “I think the banks are committed to financial literacy but it won’t happen in one year. It is a commitment for 2020, which didn’t start yesterday. I have been part of the commitment since 2007. We need to evaluate where we are, so we don’t get derailed, and where we want to be. These are the kind of things we must do. When those targets were set, we have the financial implication of what it will cost, which is not the same now. So, who is going to plug that gap for 2020 dream to be realised? Along the way, there have been many disruptions they didn’t factor in, both the economic aspect and technology.

    “The honest truth is that the pervasiveness of technology is going to make the realisation of these things a lot easier, faster but someone needs to be committed to facilitating it. USPF for example (in the telecoms sector), is there (to ensure that the unserved and underserved rural communities are reached through service subsidy). There is need for a commitment in terms of funding to make sure financial inclusion happen. It might interest you that majority of people investing in that are foreign institutions such as the Bill Melinda Foundation and you ask yourself where the counterpart funding is coming from local institutions. The bank has just committed itself to SINEF, which is rolling out about 500, 000 agents, which CBN is also part of.

    “But don’t forget that the interface of business with the realisation of national policy, money will go after money. If the agents are just to work to achieve a national policy that will not be economically beneficiary to them, somebody must incentive it so that national objection is realise. It is just a matter of time, when that business is worthwhile and there is a plug in from the right agencies of the government, sooner than you think that will happen,” he said.

  • Crypto-currency mining malware wreaks havoc in Africa

    Crypto-currency mining malware is wreaking havoc in Africa, an Israeli-based cyber security firm, Check Point, has said.

    Its Global Threat Index released recently showed that on Apri l, Coinhive, Cryptoloot and XMRig were the top six malware incidents in Nigeria, South Africa and Kenya.

    Crypto-currencies are becoming more popular in Africa as local conditions on the continent are conducive to adoption of the digital currencies. Several African countries suffer from rampant inflation. The number of unbanked people on the continent also makes cryptos a viable option in Africa.

    According to crypto-currency marketplace Paxful, in Africa there are more transactions involving the transfer of goods, services and money facilitated through the platform in Africa, compared to the ‘developed world’ where many trade digital currencies speculatively for profit.

    Thus, Check Point notes that cyber criminals are taking advantage of the popularity of digital currencies on the continent by deploying crypto-currency malware.

    Check Point said last month, Coinhive ranked as the number one malware family in all three countries.

    Country Manager for SADC at Check Point, Doros Hadjizenonos, said:  “All three are prolific crypto-mining malware, which, unlike other malware, hijack your system instead of holding it to ransom.

    “While Coinhive leeches your machine’s computational resources to mine Monero crypto-currency when an unsuspecting user visits a Web page, Cryptoloot uses your central processing unit (CPU) or graphics processing unit power to add new transactions to the blockchain, thereby releasing new currency.”

    Hadjizenonos added that XMRig is open source CPU-mining software used to mine Monero crypto-currency.

    “At the end of the day, this might affect your business in one of two ways. Either the hacker’s mining operation will consume large volumes of power and leave a horrible surprise in your electricity bill, or the operation will overload the CPU of the infected machines, slowing down your hardware performance dramatically. This is because the malware will defer your machine’s critical tasks to keep the mining operation in progress,” he explained.

    Hadjizenonos said because crypto miners are created to generate as much profit as possible, most will disrupt the day-to-day operations of a business.

    “The worst part about crypto-mining malware, and what makes it so sneaky, is that it doesn’t need your consent nor rely on you to perform an action in order to make a profit. Take ransomware for example: ransomware relies on the victim to pay a ransom for the attack to be profitable. Similarly, banking Trojans, which steal bank account credentials, need you to first access your account so they can harvest your user name and password,” he said.

    He, however, said crypto miners don’t need the victim at all. “In fact, all they need is your browser to be up and running, and they’re in business, literally,” he said.

    Cyber security firm Trend Micro points out that the popularity and increasing real-world significance of crypto-currencies are also drawing cyber criminal attention; so much so that it appears to keep pace with ransomware’s infamy in the threat landscape.

  • MTN: we’re committed to kids’ future

    MTN has assured kids of its unwavering commitment to building bright future for where they could realise their dreams and live a good life.

    Its Chief Executive Officer, Ferdi Moolman, who gave the assurance when he led some workers of the telco to the premises of St. George’s Primary School, Ikoyi, Lagos, as part of activities marking this year’s Children’s Day said: “When we think of Children’s Day, we think of one key word – Bright. Bright describes the future that we are trying to build together and it also describes your future. We believe that your future is bright and because of that, I say to you – stay confident, stay focused and always believe in yourself,” Moolman told the excited kids.

    Accompanied by MTN executives and workers, Mr Moolman spent time speaking with the teachers and pupils, distributing gifts. He also asked that teacher’s efforts be applauded for their indispensable role in shaping our future leaders.

    MTN Human Resource Executive, Esther Akinnukawe, who also spoke at the event, explained: “Beyond our gathering here today, across our service centres and office locations, we are also celebrating Children’s Day and sharing the same message that we are sharing with you today – you are the future and we believe in you.”

    Showing their appreciation, St. George’s Primary School administrators and teachers praised MTN  for the outreach.

    With the holiday that fell on weekend, the ICT firm took the opportunity to spend time with their younger neighbours.

  • ISPON: trust killing local software industry

    The major obstacle to the acceptance of local software is the absence of trust, the Institute of Software Practitioners of Nigeria (ISPON) has said.

    Its President, Yele Okeremi, who spoke on the sidelines of the handover of the office to him by the former President, Olorogun James Emadoye, said the group under his leadership, would work hard to build trust in the quality of locally written applications.

    According to him, the software industry in Nigeriahas evolved and has grown, adding that the timw has come for practioners in the industry to have have themselves.

    Okeremi promised to work hard to dispel the lies and celebrate the many feats local applications have acheived.

    He said: “Yes, we do not say we know everything; our doors are open to partnerships.”

    He said since the real wealth of any nation is her reservoir of human capital, the group would work to build internal capacity of members, ensure they see software as a business, adding that the issue of patent would occupy front burners of discourse.

    Okeremi said any country that aspires to be great must prioritise the development of her manpower.

    He said he would continue to build on the legacy of hardwork, selflessness and commitment to the cause of developing the local software industry which he inherited from the former presidents of the group.

    He lamented that practitioners in the information technology (IT) space are hardly recognised in the country because they are neither into oil business nor into stealing public funds.

    According to him, IT firms, such as Oracle and Microsoft have shaped human history through innovation.

    Also, Emadoye said Nigeria must stop consuming what does not produce.

    According to him, patronage of local software is the way to go if the billions of naira lost yearly to capital flight as a result of using offshore must be stopped.

  • 21st Century, Schneider seal Africa’s first Tier 4 data centres deal

    Nigerian Information Technology power house, 21st Century Technologies has entered into strategic partnership with Schneider Electric to launch the first Tier IV data centres in Nigeria and in Africa.

    A Tier  IV data centre is reputed to be fault-resistant and prepares for unplanned activity while maintaining operations with a facility that guarantees success.

    21st Century Technologies is bringing an innovation that experiences just 26.3 minutes of downtime yearly, a giant improvement over Tiers 1, 2 and 3  data centres that experiences 28.8, 22  and 1.6 hours down time yearly.

    The deal consummated at a business luncheon that had: Technology and Business efficiency as theme. It was hosted by the Franco-Nigerian Chamber of Commerce and Industry at the Lagos Continental Hotel, Victoria Island, Lagos.

    21st Century Technologies Chief Executive Officer, Wale Ajisebutu said the company resolved to build five  Tier IV data centres  in parts of Lagos State to ensure that each business district has access to a data centre to further drive commercial operations by lowering cost.

    According to him, the centres, which are to be sited in Apapa, Maryland, Ikeja, Surulere and Lekki would be fully operational before the end of the year to serve various sectors of the economy, including small and medium enterprises (SMEs).

    Ajisebutu said the data centres are not  enough compared  to  technology evolution for big data and advanced solutions, adding that the firm is partnering a world-class company to build a world-class infrastructure.

    “Our aim at 21st Century is to revolutionalise ICT practice in Nigeria and this is why we are bringing this innovation for the benefit of every one at a cheaper rate. Our facilities boast of latest sophisticated equipment, applications, security infrastructure et.c at a convenient price. Customers are at liberty to pay for service as they consume and also make payment in local currency,” he said.

    He stressed the need for the country and indeed business entities to tighten security as cybercrime would continue to threaten businesses.

    21st century Technologies Director, Sales and Marketing, Assan Cham said the more digitalised the economy,  the more important it is to secure the  cyberspace.

    “During the past years, 21st Century

  • LCCI: infrastructure, others inhibit ICT sector’s growth

    Dearth of infrastructure and delayed approvals by governments, ministries, departments and agencies (MDAs) are some of the factors inhibiting the information communication technology (ICT) sector, Lagos Chamber of Commerce and Industry (LCCI), has said.

    Speaking on the sideline of the media launch of ICTEL Expo, organised by the Chamber at Commerce House, Victoria Island, Lagos, its President,  Mr. Babatunde Ruwase,  said though ICT continue, to drive the economy, the sector would have done more were basic infrastructure, such as constant electricity supply, in place.

    He lamented that some operators   had to wait for more than four years to get approval to put in place the infrastructure that would enable it deploy services to its clients without success.

    Ruwase urged the three tiers of government to provide the requisite environment for private businesses to grow the nation’s gross domestic product (GDP).

    According to him, the major catalyst that industry, commerce, medicine, engineering and the entire anatomy of human existence have enjoyed in the last half a century is the breakthrough in ICT. He said the breakthrough has been so significant to the extent that the degree of success of nearly everything now depends on the extent of the technology applied.

    Speaking on the Expo with developing efficiency and competitiveness in the Digital age as its theme, the fourth edition billed for between July 25 and 26 at Eko Hotel and Suites, Lagos, Ruwase said it would expose and provide an opportunity to build and reinforce the strategic relationship within the ICT ecosystem.

    The themes are financial sector: The real issues; emerging technologies and healthcare management; technology and developments in human race; security management in the cyberspace; Technology and Future of elections; and e-commerce in an emerging economy.

  • ‘Nigeria needs data classification policy’

    Digital technology is redefining the way people live, destroying real and imagined fetters. With the rise of artificial intelligence (AI), augmented reality (AR), internet of things (IoT) and others in information communication comes the era of big data. Microsoft Nigeria General Manager Mr. Akin Banuso says there is need for Nigeria to have a data classification policy. He spoke with LUCAS AJANAKU on the sideline at the inauguration of Tek Experts office in Lagos.

    How is Microsoft partnering the Federal Government to realise its goals in the information communication technology (ICT) space?

    We have a number of initiatives. We are talking not just with the Federal Government, but also the state government. But your question is specific about the Federal Government. In terms of the Federal Government, we signed an MoU in December with the National Information Technology Development Agency (NITDA), the goverment’s IT development agency. One of the things we are looking at is that we should have data classification policies, a clear cloud policy that will help us determine how we stop, use, disseminate and protect data.

    Data is critical but it needs to be accessible, otherwise it is useless. Data is powerful and useful, so there lot of the things that we are doing. We are working with various agencies of government to look at how we can do digital transformation. So, you can imagine in education or in ministries where, if you went somewhere you wanted to search for records. In record management, we should be able to digitally search for records, we should be able to reference things that we need. Data is the new currency, knowledge is also the new currency, but without data, knowledge is not possible. So, we are doing a lot of the things now; you will see that we are announcing a lot of training, a lot of educational programmes and basic education up to tertiary level. We are supporting the Federal Government in its hopes for  advancing the digital space.

    How is Microsoft Nigeria involved with Tek Expert?

    Tech Expert is a global partner; it is a global services and support organisation. So, the global services and support organisation is the team that empowers and helps us to empower our customers whenever they run into a technical issue or they need help. They are getting the best value out of our products; so it’s an after-sales support. We have a global partnership with Tek Experts and when our global team decided that they wanted to expand the capacity, we already have 27,000 people providing this support globally. When we decided that we wanted to expand this support, one of the things that we looked at was in accordance to our mission.

    Our mission statement at Microsoft is to empower every person and organisation on the planet to achieve more. We should expand the reach of our support services into other locations where we don’t have people, so we have people in India, we have people in the United States, we have people in South America, so we thought we should  also give the opportunity to Africa. We spoke with Tek Experts and told them that we wanted to expand, we wanted to look at new locations and jointly we started to evaluate Africa. We looked at a couple of locations and in the end through the process, it was agreed that the first location that we would do in Africa would be Nigeria, purely because Nigeria has this wonderful depth of talented resources that are very dynamic and forward looking.

    Tek Expert said it provides support for multinational companies. We, in effect, are what you call their anchor tenants. You could look at it that way. We are working together to explore, open up the Nigerian market, which, we believe very strongly, is right for this kind of service.

    In specific terms, how will this deepen the IT ecosystem in Nigeria?

    This is phenomenal in that it is revolutionary in terms of how it will deepen the ecosystem. The fact that we are putting this world class facility in place is significant. The internet protocol (IP), the training Microsoft, brings and the skill development that Tek Expert are going to provide for this young people is phenomenal. I mean that when they come out of this environment and we’ve seen this everywhere else, we’ve gone into it with Tek Expert, the entire ecosystem grows.This is because now you will have a number of skilled people, who are used to supporting our customers globally; who can come out and set up their own companies because they have the talent. This same people can go into other companies in Nigeria and leverage our new technology.

    So, as they become skilled in the new skills that are relevant for the knowledge age, they are able to provide better solutions. They would form their own status based on the knowledge that they have to solve the problems that we’re facing in Nigeria. So, you can imagine someone that has been supporting the Federal Bureau of Investigation (FBI) or the United States Navy in solving deep problems when they come out of this environment and they face our local problems. They already have the feel and then the experience to apply that knowledge and say: we could do it this way.  So, this would have a multiplier effect on our economy and then the normal things.

    Just between January and now when they started, they said they have hired 300 people and this is only for Microsoft. And for other people coming, there will even be much deeper skills and then you imagine what that does to the economy. Each person hired,  the multiplier effect and then as they go on and grow, they add more people. We have even more people joining the work force and then more competent people coming out into the society to help us grow.

  • Diamond Bank: dealing with financially excluded difficult

    Diamond Bank has said it is not easy dealing with finanially exluded members of the country.

    Its Executive Director, Business Development, Chizoma Okolie, said the bank has, however, being doing a lot to capture more people into the formal banking sector net.

    Sharing Perspectives on Consumer-centric Inclusion Banking in Lagos, she quoted the World Bank as saying 64million adults are financially exluded in the country while about 31million banked customers use the automated teller machine (ATM) to do their transactions.

    According to her, there is need to know what people in the financial services sector, stressing that the lender identified convenience, simplicity, borrow with little credit history, know me/involve me.

    She explained that there is always the need to bring convenience to the customers without necessarily disrupting their life styles, adding that the culture of the people also needed to be preserved while trying to catch them into the formal banking net.

    She said the determination of the lender to get more people to embrace financial services made it to partner MTN Nigeria to unveil the Diamond Y’ellow Account.

    According to her, the initiative has recorded a resounding success as account holders under the scheme has now hit 10 million because it has taken care of simplicity and convenience as their nearest agent could be located through the mobile phone.

    She said Beta Friends account is another initiative introduced by the lender to simplify banking to the customers.

    While this initiative sits within the comfort of the bank, she said it also does not distort people’s way of life and promoting social inclusion by providing opportunities through connecting people and connecting businesses. Currently, the product has 580,000 customers mostly women.

    For the Diamond Closa, she said it already has 317 agents.

  • Vodacom seeks gender parity in ICT sector

    TO boost gender equality in the Information Communication Technology (ICT) sector, Vodacom Business Nigeria officials have visited female pupils of Grace High School, Gbagada and Lagoon Secondary School, Lekki, all in Lagos.

    The officials said the visit was part of the  firm’s celebration of the seventh International Girls in ICT Day.

    They organised the Coding and STEM quiz contests, which the pupils won.

    Vodacom Business Nigeria’s Senior Manager for Product Development, Funke Atanda said: “Vodacom is committed to accelerating the change needed to create relevant opportunities for women through the use of ICT.

    “By supporting ICT skills acquisition for young girls, bringing them into our organisations and opening their minds to new technologies that exist and continue to develop, we are able to encourage more girls to choose courses in the ICT sector. This will help increase the number of women in the ICT sector in the near future.”

    She said initiatives like the International Telecommunications Union (ITU) Girls in ICT Day would go a long way towards encouraging this change, thus strengthening the sector while continuing to improve social and economic progression in the country.

    ‘’By providing donations, training and support to ICT-driven programmes, Vodacom Business Nigeria is accelerating the removal of barriers for girls and women in the ICT industry.

    The official said the contest formed part of a global campaign that seeks to encourage young girls to consider ICT as a profession and contribute their quota to the growth of the industry in Nigeria and their self-development.

    The International Girls’ in ICT Day is an initiative of the International ITU to create a global environment that will empower and encourage girls and young women to consider careers in the ICT field.

    With some school girls opting to study technology-related disciplines in decline in most countries worldwide, ITU has committed itself towards championing young women  for a career in tech.

  • VDT sponsors Digital Africa conference

    Broadband communications service provider, VDT Communications, has sponsored Digital Africa Conference and Exhibition 2018.

    The firm said it has been sponsoring the conference since inception. However, this year marks the third year that VDT has sponsored the international technology event as official telecom partner.

    The conference, which held between June 5 and 7 at Shehu Musa Yar’adua Centre in Abuja had: “Africa’s Tech Renaissance” as its theme. It was aimed at focusing attention on the great achievements in science and technology by Africa, inspiring technology transformation among current players and charting the course for future technology ecosystem in Africa.

    A statement endorsed by Marketing Communications Manager at VDT, David Ese, explained                                                                                                                                                                                                                             that the sponsorship of the conference and exhibition was owing to the desirable ideal of the conference which  ultimate aim was inspiring digital transformation of Africa.  “This year’s conference, like the previous ones, will attract over 36 international speakers and about 1000 participants from Nigeria, Africa and other parts of the world.

    “As the Official Telecom Partner of Digital Africa, 2018, in addition to the sponsorship, VDT will provide free WiFi for use by all the participants in the conference, thereby demonstrating the premium quality of VDT services. Last year, participants applauded the high quality of our internet service. This year, we are taking it a notch higher. VDT Communications will also exhibit to showcase both the traditional and newly developed services including, Digital Leased Circuit, Corporate Internet, Metro Wireless, Metro Fiber, ATM Solutions, Wi-Fi Hotspot and 4G LTE Advanced Retail Internet service. VDT will also participate actively in the conference at the event,” Ese added.