By Modupe Gbadeyanka

D24 Fintech Group has unveiled an impressive catalogue of financial technology solutions designed to change the way finance works in the digital age.

These innovative solutions range from blockchain development to multi-asset trading, as well as web3 integration and development, wallet infrastructure, and white-label services.

Through its affiliates operating in over 100 countries and partnerships with leading financial institutions and governments, D24 is driving digital transformation on an unprecedented scale.

“At our organization, we are not just adapting to change but rather progressing it; we don’t just follow digital transformation—we drive it forward.

“Our technology is designed to bridge the gap between traditional and modern digital finance. By doing so, we provide technology solutions that assist organizations in digital finance operations globally,” the chief executive of the company, Mr Vincent de Cannière, stated.

“Due to the popularity and demand of our solutions, our presence extends into key financial markets across Europe, Asia, the Middle East, and Africa, where we collaborate with banks, regulatory bodies, and digital asset platforms.

“Every year, we establish organizational goals that align with our philosophy, aiming to provide the best possible service,” he added.

Mr Cannière noted that, “With a growing presence in key markets, we’re committed to operating in full compliance with global financial regulations.

“Our solutions are developed with a strong emphasis on regulatory alignment, security, and transparency to support evolving financial markets.

“We encourage businesses and institutions to conduct thorough regulatory due diligence before adopting digital financial solutions.”

By Adedapo Adesanya

The National Information Technology Development Agency (NITDA) is working to overhaul outdated frameworks that are limiting cybersecurity interventions in Nigeria.

The NITDA Deputy Director, Cybersecurity Department, Mr Ayodele Bakare, said this on the sidelines of the agency’s meeting with some United Kingdom (UK) delegates on building a national cybersecurity infrastructure in Abuja on Friday.

Mr Bakare noted that cybersecurity was a borderless issue and required collaborations, both local and international, and strategic interventions to address cyber threats.

The director stated that the country had existing cybersecurity frameworks and policies but doubted if they could address emerging threats, especially with the adoption of Artificial Intelligence (AI).

Some of the frameworks he mentioned included the Cyber Crime Act 2015, recently amended in 2024 and the Nigerian Data Protection Act 2023, which were pivotal in driving the country’s cybersecurity architecture.

“NITDA, seven years ago released the National Public Key Infrastructure as a regulation. We also have other sectoral frameworks, the Risk-Based Cybersecurity framework for financial institutions released by the Central Bank of Nigeria.

“Given the fact that we have all these frameworks, their effectiveness is still a question and I think the first thing is for a rebase line on the basis that informs the existing frameworks.

“Majority of the frameworks were issued far before now, and there are emerging risks like the AI-driven threats and some of the frameworks that we have are not really addressing them,’’ he said.

The director mentioned that in spite of significant efforts in public awareness campaigns, cyber threats, such as device code phishing, continued to persist across the country.

He stressed that enhanced and more interactive awareness programmes were necessary to educate the public on the dangers of cybercrime.

Mr Bakare also said that Nigeria had a shortage of skilled cybersecurity experts, with about 8,300 cybersecurity experts to 220 million people, adding that there was a need to develop skills in that area.

The Director called for more affordable training platforms and certification programmes to help develop a larger pool of cybersecurity professionals in the country.

“We are looking for platforms that can provide an efficient way of training people and we are also looking at collaborations that can help bring down the cost of cybersecurity certification courses.

“Averagely, you see Nigerians spending between $2,000 dollars to $5,000 for this certification which is very expensive and reducing the cost will increase the number of experts,’’ he said.

Another concern he raised was the issue of governance, risk management and compliance among government institutions.

According to him, NITDA is working on a regime that will audit government organisations and ensure compliance with cybersecurity frameworks.

He also said the country required more efficient threat intelligence platforms that could gather, analyse and share information on cybersecurity threats.

Mr Bakare further stated the need to adopt cloud-based solutions to improve vulnerabilities, adding that it could assist in identifying external threats in institutions.

“The government is making efforts to ensure the management and effective utilisation of the National Public Key Infrastructure (PKI) to secure online transactions and communications in collaboration with stakeholders.

“For government institutions, we are working on a framework for zero trust which should create an efficient platform.

“The platform will ensure that before you access any information-based system, either cloud-based or on-premise, you have to go through a zero trust platform.

“This is to ensure that digital trust is effectively maintained and that the incidences of data leakages are reduced,’’ Mr Bakare said.

He added that they were working on developing a National Cybersecurity Architecture expected to consolidate various cybersecurity initiatives and frameworks into a single source of truth.

“We are working towards an architecture that will serve as the single source of truth for Nigeria’s National Cybersecurity Strategy and help streamline efforts for effective management of cyberspace,’’ he said.

By Aduragbemi Omiyale

The co-founder of a freight logistics firm, Kobo360, Mr Obi Ozor, is back at the company after he stepped down in 2023 to become the Commissioner for Transportation in Enugu State.

He has reacquired shares of the company from investors, excluding the International Finance Corporation (IFC), which reaffirmed its commitment to supporting entrepreneurs driving innovation and development in Africa, according to a mail to TechCabal, which reported the news.

Recall that earlier, Kobo360 raised about $79 million from investors, including Juven, a spinoff from Goldman Sachs, IFC, and TLcom Capital.

However, due to its business model, the organisation has struggled to remain in business, forcing its lenders to cut off credit support, which has affected its operations.

The firm has experienced cash flow issues, which have made it impossible to pay truck drivers on time, resulting into declining trip volumes and sharp decline in revenue to keep operations going.

TechCabal reported that a former employee of Kobo360 claimed that truck drivers are paid upfront but had to wait 30 to 90 days for manufacturers and distributors to settle invoices.

“Our partnership with these banks was three-way, so tensions on the bank’s side led to us losing access to our customers’ domiciled accounts. These were major clients, and losing their business significantly reduced Kobo360’s trip volume, revenue, and overall growth,” the source was said to have stated.

Kobo360 began operations in 2017 and hoped to cut inefficiencies, reduce empty return trips, and improve pricing transparency through technology by matching truck owners with businesses needing to move goods.

But these goals have not been sustained because of the challenges the company faced.

Mr Ozor later stepped down for a political appointment in Enugu State. He was replaced by Ciku Mugambi, who later stepped down last October after the company continued to struggle to remain afloat.

This may have forced Mr Ozor to return to the organisation to salvage the situation.

According to TechCabal, IFC believes the situation is not beyond repairs.

“The challenging macroeconomic environment has created headwinds for startups across emerging markets, including in the logistics sector.

“The IFC remains committed to supporting entrepreneurs driving innovation and development across the continent,” it told the news platform.