E-Business
Experts at CyberXchange Conference Offer Solutions to Cyber Threats

Information Technology (IT) experts have called for increased monitoring and evolution of human and technology deployed to manage information security as part of measures to curbing the increasing spate of cyberthreats in the country.
The Experts who decried the continuous rise in cyber attacks at the commencement of CyberXchange Conference 2016 in Lagos on Wednesday, called for increased awareness among Nigerians over such attacks.
According to them, most organisations are either ignorant of the cyber threats in their business environment, or have refused to implement the full software solution that would detect and prevent cyber attacks.
Inalegwu Alogwu, head of Innovations and Information Security at Interswitch, said that in the present day IT ecosystem, cyber breaches are mainly instigated by an insider (staff, contractors, etc.)
He categorised insider attacks into three: careless insider, exploited insider and malicious insider, adding that while organisations are investing in cyber security solutions, insider threats are on the increase.
To this end, he said, organisations should pay close attention to understanding and managing human elements associated with cyber security.
Alogwu added that information sharing among organisations, especially, those in the financial sector, is critical to mitigating coordinated attacks.
Nodding in agreement, Favour Femi-Oyewole, chief information security officer, Nigeria Stock Exchange (NSE), said that to successfully tackle cyber security related issues, organisation should focus on developing ‘human firewalls’.
She shared experts’ views that most organisations focus on security solutions, but continue to fail, for sheer reason they rely on data that is gathered after an attack rather than stopping the attack from occurring in the first place.
Human Firewalls, Femi-Oyewole said understands that Cyber Security must be addressed proactively with next generation continuous endpoint monitoring in order to identify, respond, contain and recover rapidly from advanced attacks.
She said that gesture was chief among reasons the NSE introduced Minimum Operating (security) Standards in 2014, “and the results positively impacting members of the NSE”.
Considering the need for long-term protection for investors and stakeholders in the capital market, in 2014, the Nigerian Stock Exchange (NSE) set Minimum Operating Standards (MOS) for its Dealing Members.
MOS cater for all three classes of Dealing Members (broker dealers, brokers and dealers) and address the five broad areas of manpower and equipment, organizational structure and governance, effective processes, global competitiveness and technology.
“The Minimum Operating Standards helps in enhancing regulations and build strong operational structure that would help mitigate risk in a sustainable manner. Therefore, organisations should focus on building human firewalls if they will stay ahead of cyber threats”, she added.
Check Point Software Technologies, a global cybersecurity vendor, providing industry-leading solutions on cyber attacks, recently raised the consciousness of Nigerians to the growing rate of global cyber attacks.
According to the software security solution vendor, first quarter 2016 analysis of the global threat index by Check Point Software Technologies, revealed deep disparities in the threat environments in Africa, and the potential for increased attacks as cyber-criminals now target mobile devices.
Analysing the current trend in cyber attacks at the end of the first quarter of 2016, Check Point found Nigeria was ranked16th highest country, that are vulnerable to cyber attacks, moving up two places from 18th position in the preceding quarter.
From the report, it was found that African nations are highly represented in the upper rankings of the index, and Nigeria was surpassed by a handful of other African countries, including Namibia and Malawi.
In her contribution, Wendy Cheshire, sales director at Control Risks, highlighted a need for organisations in Nigeria to recognise that securing their businesses from operational risks is a first priority for any management team.
She listed losses of life, intellectual property, physical assets and reputation as capable of devastating a business.
Cheshire, said, Companies can succeed in the face of cyber threats by constant monitoring and managing the consequences of changes in risk levels; secure the business at both an enterprise and local level and understand the business impact of risks and prepare contingency plans to reduce the impact of an event should it occur.
E-Business
FG Unveils ePharmacy Platform to Regulate Digital Pharmaceutical Services

Federal government has inaugurated the Electronic Pharmacy Regulation Platform (E-Pharmacy) to enhance the safety of online healthcare services.

Pic credit….healthreporters.info
The platform, championed by the Pharmacy Council of Nigeria (PCN), is designed to regulate digital pharmaceutical services and improve public health outcomes.
Inaugurating the platform, Prof. Ali Pate, coordinating minister of Health and Social Welfare, said the initiative signified Nigeria’s commitment to building a world-class regulatory environment.
Pate noted that pharmacy regulation had faced significant challenges for over three decades but expressed optimism that the new platform would strengthen oversight and accountability.
He said the initiative would enable evidence-based monitoring of pharmaceutical practices while supporting innovation and investment in the health sector.
“This launch is a testament to our collective commitment to advancing technology in the service of health, safety and human dignity.
“It is a decisive step to ensure that pharmaceutical practice in Nigeria aligns with national and global health priorities, reflecting the realities of the 21st century.
“It enables the country to adopt evidence-based approaches to monitoring and protecting public health while supporting innovation and investment,” he said.
The minister added that the platform would help establish a safe, accessible and well-regulated national e-pharmacy ecosystem driven by digital technology.
Earlier, Alhaji Ibrahim Ahmed, registrar/chief executive officer of PCN, said the need to regulate online pharmacy operations became more urgent during the COVID-19 pandemic.
Ahmed said the pandemic accelerated the adoption of digital tools and e-commerce in healthcare, exposing longstanding inefficiencies in pharmaceutical supply chains, particularly in Africa and Nigeria.
“This has led to the increasing adoption of digitised distribution of essential medicines through cost-effective and technology-enabled models.
“For decades, PCN has regulated pharmacy education, training, practice and business in Nigeria. However, as the world shifts towards digital solutions, access to medicines has evolved.
“The Electronic Pharmacy Regulations 2026 provide a comprehensive legal and technical framework for the registration, licensing, operation and oversight of digital pharmaceutical services,” he said.
He added that the framework would ensure that ethical standards and patient safety are not compromised in the delivery of online pharmaceutical services.
E-Business
Flutterwave Targets Anambra as South-East Tech Hub

Olugbenga Agboola, CEO, Flutterwave, has announced plans to establish Anambra State as the company’s hub for Nigeria’s South East, leveraging a fresh banking license from the Central Bank of Nigeria (CBN) to boost local fintech and businesses.

Flutterwave
Agboola made the disclosure yesterday in Awka during a meeting with Anambra tech community leaders, hosted alongside Dr. Stanley Uzochukwu, CEO, Stanel Group and proprietor, Delborough Hotel.
He highlighted Flutterwave’s status as Africa’s leading payment system, born in Nigeria, with infrastructure powering companies nationwide.
“We want Anambra to be our hub for the entire South East,” Agboola said. “We’ll deploy our systems, fees, infrastructure, and POS terminals to every small business and large firm here, making our services the top consumer choice.”
Agboola pledged a massive impact program for Anambra entrepreneurs to foster global platforms from the state, enabled by the new license for faster growth.
For a decade, Flutterwave has facilitated payments, but now aims to empower South East businesses through partnerships, POS access, loans, and value for SMEs.
“We’re partnering on a huge impact program launching soon—impacting the tech community with technology, financing, and lending to create more millionaires from this city,” he added.
E-Business
NESREA, ACMTI, Others Launch Carbon Utilisation Initiative in Nigeria

The National Environmental Standards and Regulations Enforcement Agency (NESREA), in collaboration with the Africa Carbon Management Technology & Innovation (ACMTI) and the Clean Energy Ministerial Carbon Capture, Utilisation and Storage Initiative (CEM-CCUS), has launched a Carbon Capture, Utilisation and Storage (CCUS) Initiative Platform in Nigeria.

Speaking at the launch in Port Harcourt, Rivers State, Prof. Innocent Barikor, the Director-General of NESREA, described the project as a major milestone in Nigeria’s journey toward environmental sustainability, climate resilience, and industrial transformation.
Barikor explained that the CCUS solution provides an economically viable pathway for industrial decarbonisation by enabling the capture, storage, and utilisation of carbon in sectors such as beverage production, cement manufacturing, chemicals and fuels, enhanced oil recovery, and agriculture.
“We need to reduce carbon in the atmosphere to acceptable levels. Its utilisation offers opportunities to capture and store carbon and deploy it for industrial purposes. We are building a circular economy—turning environmental challenges into economic opportunities in line with regulatory provisions,” he said.
He noted that the CCUS Platform is a collaborative ecosystem designed to bring together key stakeholders, including government institutions, industry leaders, academia, technology developers, development partners, and investors.
Also speaking, the Vice-Chancellor of the University of Port Harcourt, Prof. Owunari Georgewill, commended NESREA for the initiative, describing it as a practical mechanism for coordination, innovation, and action toward Nigeria’s 2035 climate targets and broader energy transition goals.
He added that the university is well-positioned to host the CCUS initiative, noting that its Energy Technology Institute has developed credible expertise in energy transition-related fields critical to the success of CCUS in Nigeria.
On his part, the Coordinator of ACMTI and Facilitator of the Carbon Technology Innovation Platform (CTIP), Dr. Richard Victor Osu, said the vision is to position Nigeria as a regional leader in carbon management technologies while contributing meaningfully to Africa’s climate commitments and global decarbonisation efforts.
Osu explained that Port Harcourt was selected due to its potential as a CCUS hub, adding that the platform will focus on advancing research and innovation, building technical capacity, promoting public-private partnerships, attracting investment, and fostering collaboration with international research and technology partners.
Juho Lipponen of the CEM-CCUS Initiative assured that the organisation would support Nigeria in prioritising CCUS in clean energy discussions, strengthening carbon management deployment programmes, boosting partnerships, facilitating financing solutions, and promoting positive narratives around carbon utilisation.
The event attracted participants from the United States, France, Brazil, Canada, the United Arab Emirates, and the United Kingdom, who shared insights on the initiative.
Also in attendance were representatives of the National Oil Spill Detection and Response Agency (NOSDRA), the National Council on Climate Change (NCCC), the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), the Rivers State Ministry of Environment, as well as private sector stakeholders and development partners.
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