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Equitorial Trust Bank signs on Finacle

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Equitorial Trust Bank Plc, has signed Finacle universal banking application from Infosys Technologies, India to replace their current legacy Globus banking application. ETB also joins other banks such as Hatton National Bank in Sri Lanka in moving away from the Globus to Temenos upgrade track and pitching tent with Finacle. HNB was an early adopter for T24 but after two years decided to replace T24 with Finacle which went live within six months of implementation.
The selection of Finacle over other applications was for the obvious local 24 X 7 support infrastructures available in Nigeria through Computer Warehouse Group and for strategic business agility which Finacle provides. In addition, the bank’s growth potential can only be supported by a robust, stable, and scalable core banking platform such as FINACLE.  Finacle has been proven to handle more than 11,000 financial transactions per second. ETB also selected Finacle to support their channel strategy that will see ETB participating aggressively in the ATM, internet banking, mobile banking and other electronic channels.
ETB will be implementing Finacle 10, the latest release of Finacle banking application from Infosys and thus becoming the first Nigerian bank to implement the new Finacle 10.
Finacle 10 is the product of millions of years of man-effort by Infosys culminating in a major upgrade in functionality and performance over the previous versions.
Finacle UBS is the award winning Core Banking Software from Infosys Technology, India. Finacle UBS is currently being used by several mega banks in Nigeria including, First Bank of Nigeria Plc, United Bank of Africa Plc, Oceanic Bank International Plc, First City Monument Bank, FinBank, Spring Bank, and others.
Finacle UBS is renowned for its Flexibility, robustness, and stability. it is perhaps the only core banking application in Nigeria developed using SEI-CMM level 5 certified processes and is also COB IT certified for control and security.
Finacle UBS has been designed from the beginning to be easily supported. It uses standard open technologies and also provides tools and techniques for adapting it to the local environment.
Local Technical Support provided by ExpertEdge Software Ltd, a Computer Warehouse Group Subsidiary, has helped tremendously in localizing Finacle for Nigeria environment and assured users of effective support infrastructures available on a 24 X 7 basis.
Finacle UBS is arguable the only core banking application with extensive local support in Nigeria with a large pool of  certified Nigerian consultants employed by ExpertEdge.  Local support is a critical success factor for any core banking application and an important decision point when choosing a core banking application as recommended by Gartner Group.
Expertedge is the software subsidiary of Computer Warehouse Group, a foremost ICT company comprising three subsidiaries  covering each discipline of Information Technology as follows: CWL Systems, DCC Networks and ExpertEdge Software.

 

 

 

 

 


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NITDA Warns Nigerians of Actively Exploited Microsoft Office Vulnerability

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National Information Technology Development Agency (NITDA) has issued an urgent cybersecurity warning about a serious Microsoft Office vulnerability (CVE-2026-21509) that attackers are actively exploiting.

NITDA Warns Nigerians of Actively Exploited Microsoft Office Vulnerability

This advisory, shared through Nigeria’s Computer Emergency Response Team (CERRT.NG), highlights the risks of this flaw and recommends immediate action to protect systems.

Microsoft has released quick security updates to fix this vulnerability, which has a severity score of 7.8, showing it is a serious risk. Attackers have already used it in targeted attacks.

CVE-2026-21509 affects multiple versions of Microsoft Office, including Office 2016, Office 2019, Microsoft 365 Apps, Office 2021, and later versions.

This flaw allows attackers to bypass security features meant to stop harmful Object Linking and Embedding (OLE) controls. OLE is an older Microsoft technology that can be used to embed links or content, but it has often been exploited by malware.

By exploiting this flaw, attackers can create specially designed Office documents.

When a user opens these documents, they can run malicious code or gain further access to the system.

Exploitation requires user interaction, meaning attackers often trick people into opening harmful Word, Excel, or other Office documents. Common methods include using email attachments or files from untrusted sources.

Because Microsoft confirmed that the vulnerability is being actively exploited, they have made emergency security updates available outside their usual schedule. Users and organisations should:

  1. Install the latest Microsoft Office security updates for all affected versions.
  2. Restart Office applications for Office 2021 and later to ensure that the updates take effect.
  3. Use registry-based settings for protection if updates can’t be applied right away.
  4. Follow good cybersecurity practices, like using endpoint protection and filtering emails.

Microsoft’s updates for Office 2021 and newer versions are automatically applied, but need a restart of the applications to be active.


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NDPC Investigates over 1,000 Schools over Data Privacy Compliance

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Nigeria Data Protection Commission (NDPC) has commenced an investigation into over 1,000 education institutions across the country over compliance with the Nigeria Data Protection Act (NDP Act), 2023.

NDPC Investigates over 1,000 Schools over Data Privacy Compliance

The move affects federal, state and private universities, polytechnics, colleges of education and technical colleges, marking one of the largest sector-wide compliance checks since the enactment of the law.

In a public notice issued on Thursday by Babatunde Bamigboye, head, Legal, Enforcement and Regulation, the Commission said the probe forms part of its ongoing sector-by-sector enforcement drive aimed at safeguarding the fundamental rights and freedoms of data subjects, as well as strengthening the legal foundation of Nigeria’s digital economy through the trusted use of personal data.

The NDPC directed the affected institutions to submit, within 21 days, evidence of filing their 2024 Data Protection Compliance Audit Returns, proof of designation or appointment of a Data Protection Officer including relevant contact details and a summary of technical and organisational measures adopted to protect personal data within their establishments.

It also requested evidence of registration as a Data Controller or Processor of Major Importance as required by law.

The Commission warned that failure to comply with the notice may result in the issuance of enforcement orders, imposition of administrative fines and possible criminal prosecution in accordance with the provisions of the NDP Act, 2023.

It stressed that compliance is mandatory and not optional for institutions that process large volumes of personal data

The education sector remains one of the biggest handlers of sensitive personal information in the country, including students’ academic records, admission details, biometric data, financial information and staff records.

With increasing digitalisation of admissions, online learning platforms and electronic documentation systems, concerns over data breaches and weak privacy safeguards have grown in recent years.

The Commission maintained that the investigation is in line with its statutory mandate under relevant sections of the Act empowering it to monitor, investigate and enforce compliance across sectors.


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Chams Carves Out Subsidiary to Support Africa’s Digital Transformation

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Chams Holding Company Plc, (Chams Holdco), digital payments and verification firm, has created a new subsidiary which is expected to strengthen the push for Africa’s digital transformation.

Chams Carves Out Subsidiary to Support Africa’s Digital Transformation

The creation of the new subsidiary, ChamsCorp Plc, which took effect from February 1, was made known in a filing to the Nigerian Exchange Limited , according to an announcement.

Chams said that the new subsidiary, which is its 5th, will give a new dimension to its more than 40 years of work in building the digital ecosystem not only in Nigeria, but across the continent and the rest of the world.

The newly created company will focus on three major aspects, namely the manufacturing of digital devices and development of digital infrastructure and services; data center design, construction and operations, and the development and implementation of AI infrastructure and intelligent systems.

It will also contribute to its parent company’s digital ID, digital verification, and trust services offering.

“For nearly four decades, we’ve enabled trust in transactions and identity. Now, we go furthe”

Chams is expanding into AI, data centre infrastructure, and intelligent systems, building the backbone for Africa’s digital transformation,” the company wrote in a LinkedIn post.

“We are not just participating in the future. We are engineering it,” the message added.

According to the Chams announcement, a decision of its Board of Directors appointed members of the pioneer board of ChamsCorp Plc, with renowned banker Mohammed Bashir Yunusa designated as Chairman.

He is described as a well-known finance expert who specializes in deal structuring, corporate and retail finance, business strategy, digital transformation, and Islamic Finance and Banking.

With more than 10 years of experience in the financial services industry, Yunusa currently serves as head of Consumer and Digital Banking for Non-Interest Banking Retail at Sterling Bank Nigeria, and will also serve as a non-executive director on the board.

“Chamscorp is designed to take our most ambitious ideas to market at speed and scale. As Africa’s digital economy evolves, we are focused on delivering transformative solutions that empower governments, businesses, and citizens alike,” Femi Oyenuga, CEO, Chams, commented on the development.

Chams has over the years played a major role in contributing to Nigeria’s digital ID ecosystem development to facilitate access to financial services.

In 2023, the company Group Chairman publicly stated that in providing such digital services to the Nigerian government, it had incurred debts estimated at $100 million and were planning to change their business model as a result.


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