News
Serial Entrepreneurs Outline Four Success Factors at CFA’s Startups Hangout
Startups in Nigeria will stand a better chance of succeeding in their entrepreneurial pursuit, if much focus and attention is directed to proper visioning and detailed planning.
Speaking recently at the second edition of the CFA’s Startups Hangout, Mazi Sam Ohuabunwa, Founder Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) tasked Nigerian startups to give out all they could to achieve success in their entrepreneurial journey.
He said in the journey of life especially in doing business, there four critical factors that are important, when running a business and the application of these four factors usually go a long way in ensuring that success is achieved.
“I have studied successful people and discovered that there are things they do which other unsuccessful people are not doing. Most times, I found out
it’s usually three of the principles are the most common, but the fourth factor remains the key amongst them”.
“Successful people develop a vision, plan properly, and are highly passionate but the fourth factor is the God factor. I have been thought many and different things in school, but nobody teaches you the God factor in school”, Mazi Sam said.
He told entrepreneurs at the event that vision is the ability to anticipate where you are going before the journey starts, insisting that having a laid down vision remains germane in the success world.
“You just have to imagine the end from the beginning, and there must be a detailed plan that will define the modalities of how to achieve that vision, driven by passion,” he said.
He said outlining a significant plan and critically analysing what is achievable provides a better chance of making a vision realizable, stating that passion must be engineered in the entire process to achieve great results.
He explained that the fourth factor is the God factor which is the ultimate in the entire journey.
“I have had several personal experiences when dealing with God, if you can ask him anything in his name and believing that he will do, he will do. God should be prioritized in the journey of life, he concluded.
According to Rev. Folayan Sunday, a renowned Internet Protocol Network Engineering Consultant and Educator, he emphasized that integrity has a major role that it plays in the world of business, irrespective of the fact that a growing number of businesses no longer imbibe integrity.
“Integrity still rules in business today in as much as you are creating an irresistible value to your customers, adhering to the right process and the needed technology.”
He explained that business should be seen as borderless as a venture, as businesses are becoming dynamic, but still maintains the same process and methodology.
“For instance, technology has always been there, the same method, starting a business follows the same methodology, the principles have not changed, what has changed is time and actors.
He advised startups to develop the attitude of asking their customers areas of improvements in the form of feedback, urging them to add value and increase their value propositions by creating compelling and ubiquitous products.
The March edition of CFA’s Startups Hangout comes up on the 17th of March, 2017 by 5pm and it will feature Nkemdilim Begho, CEO, Future Software & Atul Kshetry, CEO, IDM. Interested participants can register:
INTERPOL’s African Cyberthreat Assessment Report 2026 revealed that Artificial intelligence accounts for 55 per cent of reported cybercrimes across Africa and making attacks faster, more sophisticated and increasingly difficult to detect.
The report warns that the continent’s rapid digital transformation, marked by more than 1.1 billion mobile subscribers in 2025, is being matched by an equally rapid evolution in cybercrime, while fragmented legislation and limited AI readiness among law enforcement agencies continue to weaken responses.
The 40-page assessment, based on survey data from 36 African member countries, said cybercrime has shifted from isolated criminal activity to an industrialised, borderless ecosystem powered by AI.
According to the report, East Africa has become a hotspot for mobile money fraud and ransomware attacks targeting critical infrastructure, while business email compromise (BEC) and romance scams are widespread across Central and West Africa.
Southern Africa, it noted, has become an attractive target for international cybercriminals due to its high level of internet connectivity.
The report also highlighted the growing financial impact of cybercrime across the continent, revealing that losses have more than doubled since 2024, rising from 192 million dollars to 484 million dollars.
It attributed the increase largely to AI-enabled scams, credential harvesting and automated social engineering attacks.
INTERPOL said online scams remained the most commonly reported form of cybercrime in 2025, with criminals exploiting mobile money platforms, social media and AI-generated content to deceive victims.
It added that 72 per cent of surveyed countries reported the existence of scam centres, with the highest concentration recorded in Southern and West Africa.
The report further identified digital sextortion and online harassment as persistent threats, driven increasingly by AI-generated deepfakes and synthetic media.
According to data from TrendAI, one of INTERPOL’s partners, about 600,000 sextortion incidents were detected during the reporting period.
Business email compromise schemes have also become more sophisticated, with AI being used to generate highly convincing email communications.
The report said Africa-based threat actors are increasingly targeting victims in Europe and North America using cyber infrastructure spread across multiple jurisdictions.
INTERPOL warned that the absence of real-time information sharing between banks, telecommunications companies and law enforcement agencies has created significant vulnerabilities in tackling financial cybercrime.
It said cybercriminals are no longer relying solely on stolen credentials but are now creating AI-generated synthetic identities by combining genuine personal information with fabricated details.
These synthetic identities, the report noted, have been used to bypass biometric verification systems, open bank accounts, obtain mobile loans and register SIM cards under false identities.
Neal Jetton, Director of INTERPOL’s Cybercrime Directorate, described cybercrime as one of the most significant criminal threats facing Africa.
“Cybercrime has emerged as one of the most significant criminal threats to the region. AI is automating every stage of a cyberattack from reconnaissance and phishing to extortion and evasion.
“However, we see that when countries work together, cybercriminal infrastructure can be identified, disrupted and dismantled,” he said.
Despite the growing threat, the report highlighted progress in strengthening cybersecurity across the continent.
It disclosed that 17 African countries enacted or amended cybercrime legislation in 2025, while Senegal launched an online reporting platform to improve responses to online offences affecting children.
The report also noted that regional capacity-building initiatives are helping to improve long-term cyber resilience.
INTERPOL said four major cybercrime operations conducted in 2025, Operation Serengeti 2.0, Operation Contender 3.0, Operation Sentinel and Operation Red Card 2.0, resulted in more than 1,500 arrests, the seizure of hundreds of electronic devices and the recovery of over 100 million dollars.
To address the growing threat, the report recommended the adoption of standardised digital forensic capabilities, stronger cross-border collaboration, greater investment in AI literacy for law enforcement personnel and formal public-private partnerships to improve cybercrime prevention, detection and response.
The African Cyberthreat Assessment 2026 forms part of INTERPOL’s African Joint Operation against Cybercrime initiative, funded by the United Kingdom’s Foreign, Commonwealth and Development Office, with data contributions from Fortinet, Mastercard, the Shadowserver Foundation, S2W and TrendAI.
Nigerian students will soon design, assemble, test and fly drones as part of their university education, following a partnership between Miva Open University and Abuja-based defence technology company Terra Industries.
The collaboration comes as Nigeria intensifies efforts to develop indigenous capabilities in advanced manufacturing and defence technology, with both organisations seeking to strengthen Africa’s pipeline of deep-tech talent.
The partnership will see students gain hands-on experience in drone engineering and related technologies through dedicated labs and industry collaboration.
The partners will establish robotics, drone and virtual reality laboratories across Miva’s study centres, beginning with a pilot facility in Abuja.
Students will also gain access to industry-led workshops, research opportunities, internships and mentorship in artificial intelligence, robotics, cybersecurity and autonomous systems.
According to the partners, Terra’s engineering teams will work alongside Miva faculty to integrate hands-on hardware training into academic programmes, exposing students to real-world engineering challenges and building industry experience before graduation.
Nathan Nwachuku, co-founder and CEO of Terra Industries, said Africa’s technological future depends on developing engineers capable of building solutions for local challenges.
“The engineers who will build Africa’s future must learn by building. This partnership creates opportunities for students to work with the technologies shaping modern security, infrastructure and autonomous systems,” said Nwachuku.
Miva Open University said the initiative forms part of its commitment to experiential learning, adding that students will have the opportunity to “design, test and fly drones as part of their academic experience”.
The partnership builds on Terra’s expanding role in Nigeria’s defence technology sector. Earlier this year, the company signed a joint venture with the Defence Industries Corporation of Nigeria to localise the production of drones, robotics systems and cybersecurity infrastructure, supporting efforts to strengthen domestic manufacturing and reduce reliance on imports.
Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.
Atte Ayodeji
Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.
Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.
His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.
Sunday Dare, special adviser on Media and Public Communication to President Tinubu, celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.
“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”
Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”
NBC Files Fresh Appeal against Judgment Barring it from Imposing Fines on Broadcast Stations
Nigerians Lost N25.85Bn to Digital Payment Fraud in 2025 –CBN
NRS Announces 30 Percent Tax on Corporate Crypto Income
Kaspersky Identifies Cyberespionage as a Growing Threat Across Africa, Others
PalmPay’s Transaction Guard Gives Users More Control, As Fraud Tactics Evolve
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
From Scarcity to Scale: What Africa Can Learn from India’s Agricultural Transformation
EFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
BON Establishes Six Ad Hoc Committees to Modernize Broadcasting
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
News2 days agoAtte, Nigerian Develops AI Algorithm for Hair Transplants
E-Financial2 days agoFCT Court Awards Ex-Customers N15m against Stanbic IBTC over Data Privacy Breach
E-Financial2 days agoCBN Exposes over 13,000 BVNs Tied to Fraud as Banks Tighten Security
News2 days agoFG to Abolish Subsidies in Power Sector in 2027 – Minister
General News2 days agoDare Tackles Onaiyekan over Criticism of Tinubu, Says Economic is Working
General News2 days agoSERAP Asks Tinubu to Probe Alleged N6.79Bn Missing Police Funds, Firearms
Telecom2 days agoStarbase Technologies Introduces Yolly, a Reward-Based Social Entertainment Platform
General News2 days agoLenacapavir, HIV Injectable Drug Offers Pregnant, Lactating Mothers 100 Percent Protection – Study