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.
One a quiet Wednesday, February 22, 1956, in Ubomiri, Mbaitoli, Imo State, the family of Chief and Lolo Ebenezer Ekeh leaped for joy at the birth of Leonard Stanley Nnamdi Ekeh- their second son.
Leonard Stanley Nnamdi Ekeh
His birth was both cosmic, and disruptive as his journey down this 70 years on earth has proven.
Leonard Stanley Nnamdi Ekeh, popularly know as Leo Stan Ekeh or LSE is human by birth but profound, rare and has higher consciousness.
Imbued with deep intuition, intense creativity, and compassionate nature, Leo Stan possesses critical thinking ability.
He has relentless drive to succeed across multiple facets of life. This is a self-made construct driven by his deep spiritual and purposeful living, rather than just mere survival.
Despite the recurring and abrupt reversal of government policies, which leave companies including his hemorrhaging, Leo Stan has remained committed and actively participate in the development and nation-building of Nigeria.
Am one of the lucky people to have known him up close and personal for nearly 30 years.
He has endured lots of back biting and campaigns of calumny from competitors and even betrayals from least expected people.
But his tenacity makes him stand firm on his beliefs regardless of feelings, or circumstances.
He has stumbled in businesses, failed in some ventures; but he always get right up. At one point, he nearly lost his head selling international commodities.
LSE takes every loss with equanimity as a dogged fighter.
A serial entrepreneur and with eyes for great minds, Leo Stan does not just walk through life; he leaves a trail of light, lifting everyone around him with kindness and wisdom. And there are testimonials.
For me, he is a pillar of strength and a beacon of hope. My benefactor.
He is also a benefactor to many. He has a way of making associates feel vital, loved, and valued.
Today is his Platinum Birthday but his roads have not always been paved with gold.
His early life was as ordinary as it can be, LSE attended Holy Ghost College, Owerri for his secondary education.
During his early years, he wanted to own the biggest transport company in Nigeria.
He later went to India for his university education, where he received a Bachelor of Science degree in Economics from Punjab University.
Leo Stan believes that studying in India was a great turning point in his life because he found the economy of India a realistic economy”.
He later also earned an MSc in Risk Management from the University of Nottingham.
At 70, he attained his height by trust in God, determination and CAN DO attitude.
Today, his business opinions and advisory are welcome around the world.
Leo Stan once told me “I saw myself from the beginning even when my parents were alive as an orphan. It drives me.”
He has three brothers and two sisters, His mother was a dietitian, and his father was a nurse
“I come from a lineage of people who served God dedicatedly. I am a miracle child and I remember my mother had always predicted that I would be great. I have siblings but I live my life as if I am the only child of my parents” he said
He believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world.
His solid prints in the business world is well documented. He has his hands in his hands in several businesses including ICT, e-commerce, broadcasting, oil and gas, media publishing and real estate.
Leo Stan is a man of many firsts: he pioneered a new world of digital economy at a time the country was deeply analogue both in the workplace and in schools.
The Nigerian media industry, from advertising to newspapers, owes him much gratitude for changing their operational processes and methodologies from mundane, medieval analogue to the robust and elegant digital platform.
Within 30 years, he has transformed a start-up that sprouted from a make-shift apartment that also doubled as his home into a digital conglomerate with incursions into oil and gas, entertainment and property.
Leo Stan started Zinox Technologies Limited in 2001 to manufacture computers.
He ensured that at launch Zinox Computers already had the WHQL certification, the first in sub-Saharan Africa, consolidated 5 years later with the attainment of the NIS ISO 2000: 9001 QMS Certification.
In October 2013, the company announced the production of its computer tablet line named Zipad
Task Systems, Technology Distributions Limited, Konga (Africa’s foremost truly composite e-commerce outpost combining offline-online mix in service delivery), Konga Radio, and TD Mobile, to name a few, complete the ensemble of businesses in his thriving conglomerate.
In all his companies, there is a growth pathway for every employee.
He deliberately creates a system that rewards every hardworking and dedicated employee.
From drivers sponsored to universities and returning to the conglomerate as degree holders to persons who joined the organisation as janitors working their way up the corporate ladder, he has brought his humanity to bear on people around him.
Making some lowly staff home-owners and sponsoring indigent students to universities at home and abroad comes to him as a routine.
Just a few days ago, ahead of his 70th birthday, he offered University scholarships to additional 1,000 Nigerian indigent wizkids to study Computer Science in Federal Universities. He is committing about N10 billion to the scholarship scheme.
This is so the country’s private and public sectors have a new generation of tech wizkids to support the economy’s growth.
Recall that his group has trained and retrained over 3000 Nigerians and donated tech centres to over 25 institutions nationwide just to mention a few.
The former alter boy and chorister in his local community Catholic Church at Ubomiri, now a multi-billionaire, has stayed humble.
He draws a distinct line between capitalism and welfarism.
Leo Stan is great man, a leader with unparalleled integrity and a heart of gold.
He has earned over 6o international and local awards over many years of incisive entrepreneurship, was equally singled out and honoured by former President Olusegun Obasanjo on the occasion of Nigeria’s Independence Anniversary on October 1, 2001 with an ICON OF HOPE award as a pride to modern Nigeria and as a model for Nigerian youths.
Again, President Obasanjo honoured him with another national award – the Order of the Federal Republic (OFR) in 2003.
A Fellow of the Nigeria Computer Society, the umbrella body of all computer associations in Nigeria, he was also awarded the pioneer ICT Personality of the Year by this professional body.
In November 2019, Ekeh was honoured by President Muhammadu Buhari with the National Productivity Order of Merit award for his sustained leadership in the area of Information and Communications Technology (ICT).
With over four Doctorate Degrees (Honorary) and fifteen fellowships from recognized institutions and as a former global advisor to Microsoft, as well as Forbes Best of Africa Leading Tech Icon Award his outstanding entrepreneurship.
Leo Stan is Ochiririozuo Ubomiri, Ebekuo Dike, Ideato and Iyi of Mbaitoli
Africa’s trading community is rapidly growing, evolving, and showing increasing interest in financial markets. From Lagos to Nairobi, from Accra to Johannesburg, more and more people are exploring financial markets as a way to develop skills, earn income, and participate in the global economy. But the ability to trade isn’t enough; traders also need reliable technology, fair conditions, and tools that help them make informed decisions and trade effectively.
JustMarkets
This is where trading platforms like JustMarkets make a significant contribution to the development and expansion of the trading community in the African region.
By combining global market access with a results-oriented trading environment, JustMarkets helps African traders compete head-to-head with those in the world’s largest financial centers, providing access to tight spreads, a wide range of analytical materials, and a variety of account types.
Breaking Barriers to Global Markets
For years, traders in emerging markets have faced limitations: slow platforms, a limited range of instruments, low liquidity, wide spreads, and infrastructure that hinders professional trading and effective analysis. Today, JustMarkets addresses this significant gap by providing African traders with access to a wide range of global financial instruments through a single, optimized online platform.
Now traders have the opportunity to test short-term strategies, long-term portfolio diversification, and learn how markets work. Traders can now explore opportunities in forex, commodities, indices, and stock markets without geographic barriers or technical difficulties.
A Trading Platform Built for Performance
Technology plays a critical role in modern trading. Market conditions can change in seconds, and execution speed often makes the difference between opportunity and missed entry. The JustMarkets leading trading platform is designed to support fast, confident decisions in real time.
Ultra-fast execution. Engineered for low-latency order processing, the app helps ensure trades are executed quickly and efficiently when markets move.
Full risk management. Stop-loss, take-profit, and position sizing can be managed directly from the chart, helping traders stay disciplined and protect capital.
Advanced charting. Interactive charts, multiple timeframes, drawing tools, and built-in indicators provide the analytical depth needed for informed trading decisions.
Real-time alerts. Instant notifications about price movements, order events, and key market developments help traders stay connected even when they’re away from the screen.
Secure authentication. Biometric login, encrypted data transmission, and advanced internal security protocols ensure that accounts and personal data remain protected.
This combination of speed, usability, and security makes professional-grade trading accessible from anywhere, even on the go with JustMarkets mobile trading app.
Trade a Wide Range of Global Markets
Access to diverse instruments allows traders to adapt to different market conditions and explore multiple strategies. JustMarkets provides African traders with the ability to participate in major asset classes worldwide.
Forex. Trade major, minor, and exotic currency pairs with competitive pricing and deep liquidity.
Gold & Metals. Access precious metals such as XAUUSD and XAGUSD, popular instruments for active traders and those seeking exposure to global macro trends with competitive spreads.
Indices. Engage with leading global stock indices including the S&P 500, NASDAQ, Dow Jones, DAX, and FTSE – markets that reflect the performance of major economies.
Stocks. Trade shares of global companies and high-volume market leaders, opening opportunities to follow international corporate trends.
Energy. Speculate on key energy commodities such as WTI and Brent crude oil, instruments often influenced by geopolitical and macroeconomic developments.
This broad market selection helps traders diversify and respond flexibly to changing global conditions.
Supporting Trader Development
Expanding technical, educational, and analytical capabilities extends beyond technology. JustMarkets also places a special emphasis on helping traders build knowledge and confidence. Access to educational materials, market analysis, and structured risk management tools fosters a more disciplined and informed approach to trading, including setting trading goals.
For many African traders, this means moving from random speculation and emotional trades to a more professional mindset, and most importantly, understanding that long-term success depends on strategy, risk management, continuous learning, and a cool head.
Connecting Africa to the Global Financial Ecosystem
Financial markets are becoming increasingly interconnected, with traders from all regions now participating in the same global capital flow. Offering advanced tools such as flexible leverage, fast order execution, and broad access to markets and trading assets, the JustMarkets online trading platform helps African traders become active participants in this ecosystem with full access to analytical and educational materials, as well as cutting-edge technological solutions for managing trades, accounts, and open positions. JustMarkets’ commitment to empowering traders, increasing financial literacy, and enabling people to engage with global markets on a level playing field. As the African trading community grows, online trading platforms like JustMarkets, which combine performance, accessibility, and security, will play a key role in this process. But pay attention that risk management still is a key to success as CFD trading involves risks.
Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, has issued an interim Mareva injunction freezing copyright levy funds due to the Musical Copyright Society of Nigeria (MCSN).
The order prevents the Central Bank of Nigeria (CBN) and at least 20 commercial banks from disbursing these funds until further court proceedings.
The injunction stems from Suit No. FHC/L/CS/207/2026, following an ex parte application filed on February 5, 2026, by the Record Label Proprietors’ Initiative on behalf of 11 major record labels and music companies.
Plaintiffs include industry heavyweights such as Mavin Records, Davido Music Worldwide, Chocolate City Music, Universal Music Group, Sony Music Africa, and Warner Music South Africa.
The plaintiffs, through their attorney, sought to restrain the CBN from releasing any copyright levy funds related to sound recordings earmarked for MCSN.
They also asked the court to bar MCSN and its agents from accessing, transferring, or using the funds, whether received directly from the CBN or routed through commercial banks.
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