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ISSAN Seeks Collaborative Efforts to Check Rising Cyber Threats

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ISSAN cyber threats David Isiavwe

By Modupe Gbadeyanka

An urgent review of the National Cybersecurity Protection Act of 2015 has been called for by the Information Security Society of Africa, Nigeria (ISSAN).

According to the cybersecurity stakeholders, the review will make the law meet the current realities as it will capture the latest trends in the industry.

Speaking at the Quarter 1, 2022 ISSAN Cybersecurity Conference themed Payment Systems Platform Security in Lagos, the president of ISSAN, Dr David Isiavwe, said as the COVID-19 pandemic is gradually easing out, organisations are now settling for a hybrid way of working and providing services for customers while being mindful of the enlarged cyber threat.

He noted that new forms of attacks are being contrived and implemented by criminals through various means on individuals, nation-states and corporate bodies, stressing that cyber security gatekeepers are not spared as large sums of money are usually at risk in every successful attack.

“What we see on the horizon is that Business Email Compromise (BEC) attacks are becoming alarming; Ransomware attacks are not relenting. There are more phishing and password targeted attacks.

“Denial of Service (DoS) and Distributed Denial-of-Service (DDoS) attacks remain a growing problem. The loss globally is colossal. In Africa, Nigeria is expected to lead in terms of estimated loss due to our size. There is, therefore, the urgent need to brainstorm on how to keep payment systems platforms safer,” he said.

For a way forward, Dr Isiavwe, who is also a General Manager at Ecobank Nigeria, emphasised that banks and organisations need to be proactive, keep customers educated and updated on new threats and trends in cyberspace, automate and continuously monitor their systems and infrastructure, and also place a high premium on artificial intelligence, machine learning, robotics, and data analytics.

In his keynote address, Director, Payment System Management Department, Central Bank of Nigeria (CBN), Mr Musa Jimoh commended the activities of ISSAN on enhancing a safer and secured payment ecosystem, stressing that the apex bank is committed to initiatives that would promote and enhance payment system security to check cyber fraud in the nation’s financial system.

He maintained that the financial sector cannot afford to fail as the payment system is vital to the functioning of any economic system.

According to him, “Data security is important for customers and a tool for financial inclusion. Banks are the custodian of customers’ information based on trust and should therefore put structures in place to prevent breaches and information theft. They should not compromise customers’ credentials as it would give cybercriminals access to defraud them.”

Mr Jimoh further stated that the entrance of Fintechs to the financial landscape has engendered stiffer competition, noting that “all responsible officers in charge of information security in organizations should keep track and always check and see the right things are done for the entities that are allowed to connect to their infrastructure.

“Banks should address infrastructure deficiencies, ensure operational resilience, introduce second or multi-factor authorisation, ensures banking payment infrastructure are formidable, address privacy violations, carry out end to end encryption to protect stored data, and also adhere to KYC provisions to avoid terrorism financing and money laundering.”

In her technical presentation, Managing Director, CreditRegistry Plc, Dr Jameela Ayedun, recommended a collaborative approach by banks, CBN, government agencies such as National Identity Management Commission (NIMC), Nigerian Communications Commission (NCC), Nigeria Inter-Bank Settlement System (NIBSS) and others to enhance cyber security.

According to her, “Cyber security is the responsibility of all. The cybercriminals are still on a rampage therefore we must protect our payment systems and not give anything to chance.

“We must educate our consumers and should not be a silent victim. The payment service providers must have the basic requirements. The government also has a role to play in this regard. We should emphasise the privacy and integrity of our payment systems.”

Also, in his technical presentation titled: Anatomy of the New Fraudsters – A Nigeria Perspective, Head, Growth and Partnership – West Africa, BPC Technologies, Emmanuel Obinne, observed that cyber frauds transcend borders and boundaries. He gave a rundown of different types of frauds and maintained that relevant cyber laws should be put in place to check cyber criminality.

According to him, “Fraud management is a journey and not a destination. Proper laws should be in place to punish cybercriminals. Organizations should regularly upgrade their payment systems and security to avoid vulnerability. This will also fast track authorization and authentication of transactions. Second-factor authorization is also important to check fraud. The customers must constantly be educated to make them have more confidence in the payment system.”

Other panellists at the hybrid summit were Chairman, Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), Yinka Tiamiyu; Chief Information Security Officer, Heritage Bank, Ighoakpo Eduje, and Managing Partner, Technology Advisors LLP, Basil Udotai. The session was moderated by the Head, Internal Audit, FBN Holdings, Dr Bode Oguntoke.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Technology

Why Digital and Tech Skills Need to be Included at all Levels of Education

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digital in financial services

Education is, without a doubt, a fundamental human right. Today, digitalisation enables us to improve education and provide equal access to all. But where do we even begin?

In a world where everything is online, and any business that isn’t online is losing money, failing to teach our children digital skills for today and tomorrow will only widen our continent’s skills gap. This is because more than half of today’s professions demand technical abilities.

So, why is it critical for the technology industry to be involved in education at all levels?

Nurture future champions of the industry

Technology literacy and digital literacy are crucial for Africa’s future. And while we are making progress with the introduction of coding in primary schools in countries like Kenya and South Africa, we still have a ways to go.

“We know that every technology business is hampered in its growth by a severe lack of talent across Africa, and it is up to us as a part of that ecosystem to help develop and nurture future champions of the industry,” says Sean Riley, CEO at Ad Dynamo by Aleph.

“Unfortunately, there is still a substantial skills gap in Africa, and to solve it, we must begin at the grassroots level. We live in an increasingly digital world, so it is only logical that we begin teaching digital skills,” adds Riley.

Provide more flexible pathways

According to a World Economic Forum report, 65% of today’s primary school children will eventually be working in job types that do not exist yet, while the International Finance Corporation (IFC) estimates that by 2030, more than 230 million jobs in Africa will require digital skills.

“It is therefore clear that emerging economies face significant upskilling challenges, which need to be addressed throughout the educational careers of young people. Businesses and educational institutions must work together to ensure that learners are equipped to handle the ever-changing nature of work.

“The business sector, in particular, should take the lead in this regard, whether through training sessions, providing more flexible skills pathways, or through the recognition of short courses, as well as online and self-learning,” says Vanashree Govender, Huawei SA spokesperson.

Technology innovation is happening so quickly that training must now be adjusted constantly, almost in real time, as new systems, applications, and devices come to market.

Conscious of the need for technology-driven upskilling, Huawei has built strong relationships with training and education institutions and established programmes such as our ICT Academies at universities and TVET colleges and our Seeds for the Future programme, which aims to develop skilled, local ICT talent.

Contextual education

“Education needs to be contextual. It should enable children to understand things around them and prepare them for real-world challenges. As technology has become ubiquitous, it is important to teach children how it impacts the world and helps them understand how it can be utilised to solve various problems,” says Andrew Bourne, Regional Manager, Africa – Zoho Corp.

Prepare students for an evolving workplace

Students require more than a functional knowledge of digital and technological skills to succeed in the world. By incorporating these technologies into the normal curriculum and ongoing activities, institutions ensure that their students are more equipped for the modern workplace.

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MTN Nigeria Partners Ericsson for Effective 5G Services

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MTN Nigeria Ericsson

By Modupe Gbadeyanka

A deal has been reached between Ericsson and MTN Nigeria for the launching of 5G services in Lagos and a few cities in the first phase of the collaboration.

With Ericsson Radio System, MTN will provide advanced mobile broadband and fixed wireless access services, unlocking a range of new opportunities in the enterprise domain.

The new 5G services can bring about unique, sustainable development initiatives for agriculture, energy, financial inclusion, and security, overcoming past institutional challenges and barriers to growth.

In the future, MTN Nigeria’s Ericsson-powered 5G network will be driven by software-defined network capabilities where a combination of currently available and well-understood AI techniques will allow a higher degree of practical autonomous operation.

AI creates opportunities for improved performance, higher efficiency, enhanced customer experience, and new business models and uses cases for 5G, IoT and enterprise.

“5G will revolutionize the way we live and communicate across industries. With the speeds 5G offers, we will be able to experience the internet with low latency, which means no lag, making our virtual interactions more real.

“At MTN, we will continue to pursue the rollout of 5G technology to revolutionize internet access across the continent,” the Chief Technical Officer at MTN Nigeria, Mr Mohammed Rufai, said.

“5G is not just about speed. 5G helps people do more with their devices, unlocking a whole new world of possibilities for society.

“5G connectivity is likely to pave the way for life-altering advancements, and we are proud to be a part of Nigeria’s 5G digital transformation that has only just begun.

“With connectivity being the backbone of digitization, we are committed to delivering the best service to our partners at MTN Nigeria to support them in this thrilling journey,” the Vice President of Ericsson Middle East and Africa, Mr Hossam Kandeel, stated.

In the deal’s first phase, Ericsson will deploy its 5G technology, which includes 5G Radio Access Network and NSA Packet Core, to accelerate the development and digitalisation of key sectors such as education, healthcare and manufacturing.

It will also empower consumers and enterprises with innovative 5G applications that will unlock the true potential of the Internet of Things (IoT), Artificial Intelligence (AI), smart cities and Immersive Communication over  Augmented (AR) and Virtual reality (VR) for millions of new consumers in the country.

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NCC Reaffirms Determination to Close Gender Gap in Tech

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By Adedapo Adesanya

The Nigerian Communications Commission (NCC) has reiterated its unwavering commitment to bridging the growing gender-oriented digital divide to accelerate inclusive economic prosperity for all Nigerian citizens.

The Executive Vice Chairman of the Commission, Mr Umar Garba Danbatta, restated this commitment in Lagos at the 2022 Nigerian Women Entrepreneurs and Executives in Tech Summit (WEETS).

He said the promotion of gender equality is a significant component of ICT development, adding that the gender dimensions of ICT manifest in access and use, capacity-building opportunities, employment and potential for empowerment.

Mr Danbatta said that all these dimensions need to be explicitly identified and addressed to leverage technology and communication as powerful catalysts for women’s political, economic, and social empowerment and the promotion of gender equality.

Speaking about the theme of the event, Reskilling Women and Girls to Thrive in the Digital Economy, Mr Danbatta, represented by NCC’s Head, Digital Media Management, Mrs Nafisa Usman Rugga, said the theme resonates deeply with the drive by the federal government to ensure an all-inclusive digital economy that drives the strategic vision plan of the commission.

Mr Danbatta indicated that one of the ways through which the NCC strives to achieve inclusive growth is through increased digital connectivity to all, regardless of gender and other accidental circumstances, and that the agency has continued to play a front-seat role in driving the implementation of the National Digital Economy Policy and Strategy (NDEPS), 2020-2030; the Nigerian National Broadband Plan (NNBP), 2020-2025; and related policies aimed at deepening connectivity for all citizens, thereby bridging digital gender disparity.

“The NCC has put on the front burner the need to expose girls and young women to more opportunities in the digital ecosystem, in line with the International Telecommunications Union (ITU) resolution 70, which advocates gender mainstreaming and promotion of gender equality, as well as the empowerment of women through information and communications technology (ICT), and we are fully committed to this,” Mr Danbatta said.

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