E-Business
ISPON Knocks FG $400m Annual Loss to Foreign Software Renewal

Institute of Software Practitioners of Nigeria (ISPON) has blamed the federal government and its regulatory agencies such as the National Office for Technology Acquisition and Promotion (NOTAP) and the National Information Technology Development Agency (NITDA), for the loss of about $400 million (N122.8 billion) annually to foreign software licence renewals and upgrades by companies operating in Nigeria.
Dr. Yele Okeremi, president of ISPON, who said this, pointed out that such amount could be averted if agencies like NOTAP and NITDA were able to up their regulatory roles in protecting indigenous software developers in the country. Stakeholders had raised the alarm that Nigeria loses as much as $400 million annually to foreign software upgrades and renewals.
Dr. Yele Okeremi,
To avoid such huge loss, which they had described as waste to the Nigerian economy, they had unanimously called for the adoption of indigenous software across financial institutions and other sectors of the economy.
Okeremi, who spoke to ThisDay, urged the federal government through its regulatory agencies like NOTAP and NITDA, to up their regulatory roles in order to discourage the continuous patronage of foreign software, especially in solutions that are locally available and developed by Nigerians.
“Just like what other developed countries did, Nigeria can enact policy that will not allow inflow of foreign software into the country for a particular period of time like three years and make good efforts to encourage and protect indigenous software developers within the same period.
“If this is done, there will be a significant improvement in the quality and standard of indigenous software and the poor perception about indigenous software will vanish into the thin air,” he explained. Okeremi advised the regulators not to wait for companies who patronise foreign software to come to them for approval, but to rather reach out to all companies and organisations that use software to drive their businesses.
“Nigeria should be able to rely on indigenous software developers, through the encouragement of regulators like NITDA and NOTAP.
“These regulators should do more of engagement with companies that drive their businesses with software, for them to see the need to patronise indigenous software.
“Government and regulators should be able to identify where the huge amount of money is being spent outside of Nigeria. When this is identified, government, through NOTAP should be able to identify sufficient skills and capacity for the country to be able to substitute the imbalance that has resulted in huge loss of money to the Nigerian economy, through foreign software patronage,” Okeremi said.
He expressed dissatisfaction over a situation where the country has regulatory bodies yet organisations operating in Nigeria are still running foreign software at the detriment of indigenous software developed by Nigerians.
He cited the oil and gas sector of the Nigerian economy, where lots of foreign software application still run, and called for a change in the country’s roadmap for software development, if Nigeria must make meaningful progress in software development.
Making a case for the adoption of indigenous software in Nigeria, Dr. Dan-Azumi Mohammed Ibrahim, director general of NOTAP, had said government must come up with workable policies that must be implemented.
According to him, NOTAP in collaboration with the World Intellectual Property (WIPO), Central Bank of Nigeria and other stakeholders, had developed the Local Vendor Policy in 2007, to strategically engage local ICT firms on the implementation of foreign software agreements in Nigeria.
The policy, which came into effect in 2008 states that the Annual Technical Support (ATS) fee should not be made more than 23 per cent of the Software License fee.
The payment of ATS should commence one year after the implementation of the Software license agreement.
A local vendor must be appointed to be involved in the implementation of a Software License agreement submitted to NOTAP and must be paid a minimum of 40 per cent of the ATS fee in Naira.
According to Ibrahim, in the event of renewing the agreement after one year, evidence of payment of 40 per cent ATS fee must also be submitted to NOTAP.
E-Business
Jumia Tech Week 2026 Begins with Tech Deals on Smartphones, Electronics, and Everyday Technology

Jumia Nigeria has announced the launch of Jumia Tech Week 2026, a two-week campaign offering customers access to discounted technology products across key categories, including smartphones, computing, home entertainment, and wearable devices.

Starting from March 2 to March 15, Jumia Nigeria’s Tech Week 2026 is themed ‘Tech Products for Less’ – a deliberate commitment by the e-commerce giant to drive down the cost of technology products for Nigerian consumers. The campaign offers significant price reductions across key product categories, enabling more Nigerians to access the devices they need at prices that reflect the company’s dedication to affordability and consumer value.
Jumia Tech Week will feature deals across a wide range of product categories, including mobile phones, computer systems and accessories, televisions and audio equipment, gaming products, home appliances, portable power solutions, health technology,, and wearable devices.
Customers will also have access to curated recommendations, including top smartphone deals, must-have accessories, gaming essentials, and home technology upgrades.
According to Temidayo Ojo, CEO of Jumia Nigeria, the campaign reflects Jumia’s broader commitment to making everyday technology more accessible to Nigerians.
“Technology has become an essential part of everyday life, and access to the right devices enables more people to participate fully in the digital economy,” said Ojo. “At Jumia, we remain focused on expanding access and improving the shopping experience as we continue to build Nigeria’s everyday retail destination.”
The campaign will include a range of customer engagement initiatives such as flash sales, brand days, anchor deals and interactive activities designed to enhance the online shopping experience.
Special highlight periods, described as Explosion Days, will take place on March 6 and March 13, featuring limited-time offers across selected technology categories. Customers will also be able to participate in interactive activities, including product-based games, treasure hunts,, and live shopping sessions during the campaign period.
The campaign will feature participation from leading brands including Oraimo, Silver Crest, Samsung, Ecoflow, Nivea and Aeon, offering customers a wide selection of technology, household and lifestyle products. Early access promotions already begun during the teaser period from February 16 to March 1, allowing customers to preview selected deals ahead of the official launch.
Jumia Tech Week forms part of the company’s broader strategy to expand e-commerce adoption by improving access to essential products and enhancing the customer experience across its platform. As Nigeria’s e-commerce market continues to grow, Jumia remains focused on strengthening its product assortment, logistics capabilities, and digital experience to serve customers better nationwide.
Customers can participate in the campaign by using the Jumia mobile app or visiting the Jumia website and following the conversation online using #JumiaTechWeek.
E-Business
House Queries NDIC: ₦5m Max Payout for Failed Bank Depositors

Nigeria Deposit Insurance Corporation (NDIC) pays between ₦2 million and ₦5 million as deposit insurance to customers of liquidated banks, Managing Director Thompson Oludare Sunday told the House Committee on Insurance and Actuarial Matters during 2026 budget defence.

NDIC
House Spokesperson Akin Rotimi Jr sought details on depositor entitlements, citing Heritage Bank’s June 2024 collapse and public concerns over financial confidence.
Sunday explained NDIC’s mandate: banks pay risk-based premiums (now under 1%, down from 15/16 of 1%) to guarantee deposits. Coverage is ₦5 million for deposit money banks, primary mortgage banks (PMBs), and microfinance banks (MMOs); ₦2 million for other financial institutions.
Using BVN, NDIC auto-pays guaranteed sums without visits for amounts up to the limit. For Heritage, post-revocation, NDIC liquidated assets—selling buildings, recovering loans, realizing investments—and paid a second ₦24.63 billion dividend on January 6.
“Anything above ₦5 million or ₦2 million depends on recoveries,” Sunday said, noting ongoing asset sales and debt chases.
Committee Chairman Ahmed Jaha Babawo commended the clarity, noting the limit rose from ₦500,000 to ₦5 million recently. Over 90% of Heritage depositors got insured sums in under four days, meeting International Resolution Deposit (IRD) standards.
Babawo added liquidation dividends would be discussed in executive session.
E-Business
Kaspersky Discovers New Phishing Campaign Exploiting Google Tasks Notifications to Steal Corporate Credentials

Kaspersky has uncovered a new phishing scheme that abuses legitimate Google Tasks notifications to trick corporate users into revealing corporate login credentials.

By leveraging Google’s trusted @google.com email domain and notification system, attackers bypass traditional email security filters and exploit users’ trust in familiar services.
In this campaign, victims receive an authentic-looking notification from Google Tasks with the subject line “You have a new task.” The message creates the illusion that the recipient’s company has adopted Google’s task management tool, pressuring them to act quickly. The notification often includes elements of urgency, such as a high-priority flag and a tight deadline, to prompt the victim’s immediate response.
Upon clicking the embedded link, users are directed to a fraudulent form disguised as an “employee verification” page, where they are asked to enter their corporate credentials under the pretense of confirming their status. These stolen credentials can then be used for unauthorised access to company systems, data theft, or further attacks.
“Google’s vast ecosystem of services gets exploited by scammers. The scheme with Google Tasks is part of a broader trend observed before and continuing into 2026, where cybercriminals misuse legitimate platforms to distribute scams and phishing.
Notifications originating from legitimate domains naturally evade many spam and phishing filters, while the social engineering aspect – making it seem like an internal company process – lowers the victim’s guard,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.
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