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Software Firm Dangles ‘Winning Recipe’ to Techpreneurs

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While every entrepreneur, especially in the technology space, is unique and each story is different, there is a common factor that unites them – they take risks, follow their dreams and pursue their passions.

Steven Cohen, head of Sage One International for Africa, Australia, Middle East and Asia, said that “taking action” is one of the critical steps to stand out as a small business owner, even in harsh economic climate.

Cohen said, “There’s a reason the term ‘wantrepreneur’ has come to describe so many people – action and execution are much harder than talk. Success is the result of your actions. It’s not always laziness that impedes action, sometimes over-thinking things, doubting yourself, or striving for ‘perfect’ can prevent us from getting on with things. It’s key to find a balance between planning and execution, in any line of business. Secondly, believe that you can do it – and you will”.

At the 702 Small Business Awards with Sage One ceremony, Tshepo Phakathi, CEO of Phakathi Holdings said, “Success is not aptitudinal, it is attitudinal”.

Nodding in agreement, Cohen said, “I agree with that statement – emotions dictate our decisions and how we respond to failure and challenges. Sometimes emotions are at the heart of our success, or failure. While the idea of ‘believing in yourself’ has become clichéd, it’s for good reason – the most successful people in business are not necessarily the smartest, but they are good at maintaining a positive attitude and an unwavering belief in their ability to be successful.

“Thirdly, hire good people. The first employees you hire will set the pace for your business’s growth and lay the groundwork for your company’s culture. This is why you shouldn’t settle for second-best when hiring for the first time. One of the questions other entrepreneurs often ask me is what I would change if I could go back in time and restart my business. My answer, without hesitation, is always that I would invest heavily in hiring the best talent and do everything in my power to bring the greatest people on board right from the start”.

“You have to treat your people well. Before you even start to create job descriptions and advertise positions, you should start thinking about what sort of people you’d like to have working for your company. The type of people who work with you will determine how much you can trust them, which is important because without trust, a business is set for failure. I always hear people saying ‘If I don’t do it myself then it doesn’t get done,’ – to me, this just means that you have failed as a business owner because you haven’t spent time getting to know your team and building trust. I also believe that one of the causes of those long, unbearable meetings that are so common to many businesses, is lack of trust. When people don’t trust each other, you end up going around in circles as everyone tries to stamp their authority on the topic.

“Live your values. An important question you need to ask yourself is: what are your values and priorities, and how do you apply these in your business? Knowing the answer to this and being proud about it will show through everything you do, and your customers will take notice. Some find it hard to believe but modern customers buy into values as much as they do into the product itself – and are often prepared to pay more for a product that shares their values. As an example, The Munching Mongoose donates food monthly to a charity, and their whole business model is focused on supporting other small businesses like small farmers and artisans.

He also encouraged technology entrepreneurs to focus on their plans, keep their finances in order and “Make the bad times work for you. You will face challenging times: things will not always go as planned, the deal might not come through or a client’s late payment may put unnecessary strain on your finances. Don’t dwell on the negative, learn from the situation, move on and use it as a reason to better your business”.

Cohen while admitting that being an entrepreneur is tough and in a time of seismic technological change and digital invention, however, “there will be moments when you will want to throw in the towel. See these as opportunities to test yourself, look at how far you have come to keep motivated, and never be afraid to ask for help”.


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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E-Business

NITDA DG Reaffirms FG Commitment to Responsible and Inclusive AI

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The Federal Government of Nigeria has reaffirmed its commitment to building a responsible, inclusive, and sovereign artificial intelligence ecosystem to enable Nigeria to transition from being a passive consumer of AI technologies to an architect and builder of indigenous AI systems.

This was said by the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi CCIE, while delivering a virtual address at the InnovateAI Conference held in Lagos.

The conference brought together policymakers, technology leaders, innovators, and stakeholders to discuss the future of artificial intelligence and its role in driving Nigeria’s digital economy and national development agenda.

Inuwa outlined Nigeria’s ambition to transition from being a consumer of artificial intelligence technologies to becoming a builder and owner of AI systems that reflect national values and priorities, in line with the National AI Strategy.

“Our goal is not just to use AI, but to architect and build our own AI systems in Nigeria,” he said, stressing that the country must take ownership of its AI future.

He noted that Nigeria’s approach to artificial intelligence extends beyond innovation to include governance, infrastructure, data sovereignty, and policy evolution.

According to him, “Responsible AI is never a finished job; it is an iterative journey. Our policies must evolve as the technology evolves, and we must avoid frozen laws by adopting living policies that adapt over time.”

He cited the implementation of the Digital Economy and E-Governance Bill as a key mechanism for generating insights that will help refine AI regulations and governance frameworks.

Inuwa also highlighted the challenge of data representation in global AI systems, noting that most models are trained on non-African datasets, which often results in bias against local dialects, cultures, and demographics.

“If a model shows bias against a local dialect or demographic, we cannot just patch it. We must reinvest in infrastructure to retrain it with inclusive and representative local datasets,” he stated.

He added that building national AI infrastructure is critical to achieving data sovereignty and ensuring that Nigeria is not merely an end user of foreign AI systems.

He further called for strategic partnerships with global technology companies and hyperscalers to build AI infrastructure in Nigeria while aligning with local values and national priorities.

“The world today is a global village. We need to work with global players, but they must understand our local nuances and help us build the infrastructure to retrain and develop AI models that reflect our context,” he said.

The NITDA Director General explained that adopting a comprehensive AI lifecycle approach, from responsible data collection and governance to deployment and continuous feedback, will enable Nigeria to move from reacting to AI developments to proactively designing indigenous AI systems.

“Without understanding how AI models are trained, how decisions are made, and how models are retrained, it will be difficult to build a responsible and trustworthy AI system,” he warned.

He reaffirmed that the Federal Government is intentional about promoting responsible AI and is working closely with the technology ecosystem to co-design national AI guardrails. He described platforms such as the InnovateAI Conference and other national AI dialogues as critical to shaping Nigeria’s AI future.


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Mutual Benefits Assurance Settles ₦5.9bn Claims in January 2026

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Mutual Benefits Assurance, a leading Nigerian insurance company, has paid a total of ₦5,937,665,353.57 in claims to policyholders in January 2026 alone, underlining its strong financial capacity and unwavering commitment to prompt claims settlement.

Mutual Benefits Assurance Settles ₦5.9bn Claims in January 2026

Mutual Benefits Assurance

A breakdown of the figures shows that ₦3,426,602,834.28 was paid under its General (Non-Life) Insurance portfolio, while ₦2,511,062,519.29 was paid across its Life businesses, including Group Life and Retail Life policies.

The significant payout within a single month reinforces Mutual Benefits’ reputation as a dependable insurer that honors its obligations swiftly and responsibly.

Commenting on the development, Olufemi Asenuga, Managing Director, Mutual Benefits Assurance Plc stated that claims settlement remains the core promise of insurance and the ultimate test of an insurer’s credibility.

“Insurance is built on trust. Our ability to settle over ₦5.9 billion in claims in one month demonstrates not only our financial strength, but also our deep commitment to our policyholders. At Mutual Benefits, we do not just sell policies. We stand by our promises,” he said.

With over three decades of operations, Mutual Benefits has consistently positioned itself as a strong and well-capitalised insurer.

The company operates both Life and General Insurance businesses and remains fully compliant with regulatory capital requirements as stipulated by the National Insurance Commission (NAICOM).

The January payout reflects Mutual Benefit’s robust underwriting standards, prudent risk management practices and efficient claims administration framework.

It also aligns with the company’s broader record of substantial claims settlement in recent years, reinforcing its standing as a trusted brand in the Nigerian insurance industry.

Mutual Benefits employs over 5,000 staff, managed by seasoned management team and an experienced Board of Directors. Industry observers note that prompt claims payment remains one of the most critical differentiators in Nigeria’s competitive insurance landscape.

By consistently settling valid claims without delay, Mutual Benefits continues to strengthen customer confidence, deepen market trust and expand its footprint across retail and corporate segments.

As the company begins 2026 on a strong footing, it reiterates its commitment to innovation, service excellence and delivering value to policyholders and stakeholders alike. Mutual Benefits Assurance focused on its mission to provide reliable risk protection solutions while maintaining the highest standards of professionalism and integrity.


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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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