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Nigeria is Favourable, Vigorous Market- Spreadborough

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John Spreadborough, general manager, Westcon Mobility in Pan Emerging Africa, heads up the Motorola based EMB products and associated solution vendors, plus the company’s Print and Scan business.
Spreadborough formerly worked as managing director of TallyGenicom’s Middle East, Africa and India businesses and has over 20 years in the printing and scanning industry.
 Before joining TallyGenicom, he also ran his own Industrial Systems company called Dicoll Industrial, which specialised in measurement systems for tough environments.
Spreadborough, spoke to Miebi Senge on Westcon’s investment in the Nigerian IT market and its strategic partnership with Motorola to increase intake of enterprise solutions in the Sub-Saharan market which he heads from Lagos.

Westcon
WestCom Global is structured as a US leading organization and present in the UK and Johannesburg stock exchanges.
We have a lot of offices across Europe and North America, and about 140 subsidiary companies across the world, of which one is based in Nigeria.
So we have a management team and stock people here.  We do not manage businesses necessary from London or from the United States; a lot of our decisions here are reached in consonance with the local markets demands.
To us, Nigeria is a very favourable and vigorous market recognized across the globe; therefore we are very comfortable with the management team working here.

Westcon’s Business in Nigeria
Our Nigerian business covers the entire West Africa subregion. We have several organisations in Senegal, Cameroun, and all of (Anglo) West and Central Africa.
Although, I may not give you a breakdown of the volume in individual country, at the same time, the volume of our business this year in Africa will be about $150 million.
We are optimistic about continued fulfilling businesses in Africa.

 Accessing Nigeria’s Enterprise Market
Sure, the market is so fast moving. There are comments in some quarters about the Nigeria economy overtaking South Africa’s between 2015/16.
And the country is catching on and moving on steadily. But when you look at how that translates in the enterprise market space… I do not think it is that forward, stable and matured as the South African.
Truly, there is a tremendous revolution in technology adoption and inclusion in Nigeria in the recent times than as in South Africa; thus in Nigeria, a lot of people and corporations are moving forward adopting measures that would support them both now and in the future.
For instance they are embracing the cloud abandoning papers and that is a characteristic that impacts on the market.
Even if we do not have answers as regards the market size, what gladdens one’s heart is the level of enthusiasms to adopt technology and the sophistications of the adopted technologies by various companies.
The process is revealing the country’s or the market’s expertise in using technology to change the tune of events. Therefore, as the Nigerian market is getting more sophisticated it will embrace features that will push it to move fast in the nearest future. 

View of Technological Migration to Data
The adoption of unified communications in various applications, for instance, is a sure way of improving on the space, especially for the enterprise.
A number of companies, like Microsoft are making it possible. Some of the things we heard from Nigerians, especially the Nigerian telecom sector are growing a unified technology ecosystem for the sector to mitigate the challenges that each unit faces.
Those things are evolving in Nigeria, for instance the adoption of wireless broadband is one of the aspects of the market is being driven forward; it is not actually easy to deploy multiple technologies to mitigate the lack of infrastructure in a country.
The World Bank published a report last year which was showing; in terms of supply there is a huge amount of data being spread all over Africa including Nigeria; which shows there is viability as data is very attractive to the people. However, the next big step is to look at the infrastructure.

 Any plan with your partner – Motorola – to migrate broadband infrastructure from the shoreline to hinter land?
Well, there is migration. We have a technology that some companies are using in migrating the infrastructure to the hinterlands.
The local organizations are actually the ones that thinker on the resources to drive the next step.
 
Programmes to Enhance Carriers in the Enterprise Sector
Some of the carriers are moving into the enterprise themselves in terms of deploying data solutions for the consumer.
If we review what is happening in the Middle East, a lot of local and multi-nationals bringing data services up to consumer level.
Such is likely to happen here whereby the local companies deliver the data and also generate the internet for the consumer’s usage.
Through that means, the enterprise market will deepen. Meanwhile, from the enterprise perspective when the volume of data rises then, there will be specific technology we will be looking at. Similarly, a lot of companies are increasing their investment portfolio and resources in Africa.
For instance, Coca Cola has increased its investment to $1 billion. Those guys in enterprise space are putting their money where the cash is going to come from in future, which is Africa.

Playing in the Cashless Nigeria Regime
There are a couple of things that are happening in the sector that are quite interesting. The moment manufacturers come out with physical printers, so that is the text collecting machines, and other automation devices, that is part of the cashless economy.
The direction of the present policy is going to fall in line with the style adopted in East Africa. So, we have some technologies that are geared towards cashless economy.
We have been working with some banks and pay systems; we have local banking systems that will even help bring to the banks the unbanked in small villages.
When that is exploited, it will open up the cashless economy even further. So these are the steps coming up next and I expect it happens soon. In other words, mobile banking is the next step.

Mobility in the Nigeria Economy in the Next 5 Years
I see the mobility on a fast lane. Everything is moving from plan to execution. With the double digit in technology growth in West Africa happening more recently, in the last five years, Nigeria has been the leader in over a decade, and I see that trend continuing even further than most analysts expect.   


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Taraba Adopts Electronic Case Management System

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Taraba State in Nigeria has developed an electronic platform for filing criminal cases in the state’s High Courts, marking the implementation of the new National Case Management System.

The launch, announced on Monday, marks a move from manual to electronic filing of criminal cases and is part of attempts to reform court processes and expand access to justice using technology.

Governor Agbu Kefas stated that the action underlines the government’s dedication to institutional strengthening, the rule of law, and effective governance.

Kefas pledged continued government support for the judiciary, noting that technology is essential for delivering swift, fair and transparent justice.

He also stated that the state would give the resources and infrastructure required to maintain the ongoing judicial reforms.

Justice Joel Agya, Chief Judge of Taraba State, stated that the e-filing facility will enable the electronic filing of originating processes and subsequent applications.

He explained that the system would enhance case tracking from filing to final determination while reducing delays caused by manual registry procedures.

Justice Agya went on to say that the platform would improve the security and accessibility of court records, as well as help judges manage dockets and time better.

He emphasised that the platform is intended to supplement rather than replace judicial decision-making, ensuring that administrative procedures do not impede the delivery of speedy justice.

The development is consistent with a broader national push to digitalise judicial processes across Nigerian courts, which has already been implemented in several regions.


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Cybersecurity Firm Detects a Wave of Crypto Phishing Following BlockFi Bankruptcy

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Kaspersky has detected a wave of phishing attacks preying on former customers of the bankrupt crypto lending platform BlockFi.

These scams leverage the ongoing distribution of customer assets following BlockFi’s 2022 bankruptcy, tricking victims into surrendering cryptocurrency wallet seed phrases, potentially leading to financial losses.

BlockFi, once a prominent provider of high-yield interest accounts and crypto-backed loans, announced bankruptcy in November 2022. The company began disbursing repayments to affected clients in 2024 as part of its restructuring plan.

Kaspersky has detected fraudulent emails mimicking BlockFi’s official branding, which falsely invite recipients to “claim the payment” they are “entitled to.” After clicking on the link, users land on a phishing page and are prompted to “connect their wallet”.

The attackers suggest that users import their existing wallet by typing in the secret phrase – this grants attackers direct access to the funds in the victim’s wallet.

“Phishing attacks like this are widespread, capitalising on real-world events to build trust and urgency. Victims who fall for these scams risk exposing their crypto wallets to theft. It’s critical for individuals to verify any communications directly through official channels and to check the address from where the email originates for legitimacy,” comments Roman Dedenok, anti-spam expert at Kaspersky.

The phishing emails feature convincing logos, colour schemes, and language, making them difficult to spot at first glance. Kaspersky recommends the following steps to avoid falling victim to this or similar scams:

  • Do not click on links or respond to unsolicited emails.
  • Protect Sensitive Information: Never share banking credentials, wallet seed phrases, or other private keys in response to an email or online form.
  • Use Security Tools: Enable two-factor authentication (2FA) on all financial accounts, employ reputable security software like Kaspersky Premium, and consider using a password manager to safeguard credentials.

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Universal Insurance to Raise N15bn to Meet Capital Rules

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Universal Insurance Plc has secured the approval of its shareholders to raise additional capital of N15 billion through a proposed recapitalisation exercise, as the insurer intensifies efforts to strengthen its balance sheet and position the company for long-term sustainability.

The approval will be granted at an Extraordinary General Meeting (EGM) scheduled for February 5, 2026 in Lagos.

Currently, Universal Insurance’s share capital stands at N8 billion, with 16 billion ordinary shares held by existing shareholders on the NGX. The board is seeking to revalidate, authorise, and regularise 14 billion unissued ordinary shares for the planned capital raise and also secure approval to list and admit the new shares for trading

Following resolutions passed at the Extraordinary General Meeting (EGM), Universal Insurance Plc is moving forward with a comprehensive recapitalisation programme aimed at reinforcing its capital base and improving its capacity to underwrite larger and more diversified risks.

Shareholders approved the plan to raise new equity through a combination of capital market instruments, subject to regulatory approvals, as part of efforts to meet industry capital requirements and support future growth.

Gross premium written rose to N18.59 billion, up from N12.29 billion a year earlier, driven by increased underwriting activity across key insurance segments. Insurance revenue also grew to N14.68 billion, compared with N9.85 billion in the prior period, reflecting stronger risk acceptance and improved pricing discipline.

Despite higher insurance service expenses, the company posted an insurance service result of N1.13 billion, while net investment income surged to N2.79 billion, supported largely by fair value gains on financial assets. As a result, net insurance and investment income increased to N5.18 billion, nearly double the N2.61 billion recorded in the same period of 2024.

On the balance sheet, total assets expanded to N21.82 billion as at September 30, 2025, from N18.14 billion a year earlier, supported by growth in financial assets and investment properties. Shareholders’ funds rose to N14.38 billion, up from N12.33 billion, reflecting improved profitability and reserve accumulation.

Investors have also responded positively to Universal Insurance’s performance, with its stock delivering an 83.33 percent return in 2025, rising from N0.66 to N1.21 per share, and trading volumes exceeding 6 billion shares.

The recapitalisation initiative, combined with the improving financial performance recorded in Q3’25, underscores Universal Insurance Plc’s determination to reposition itself as a more resilient and competitive player in Nigeria’s insurance industry.

The company aims to deliver improved value to policyholders, investors, and partners, while supporting broader economic activity and generating sustainable returns for shareholders.


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