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CBi Unveils Web-Based Solution to Help MSMEs

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Convention on Business Integrity (CBi), in collaboration with ActionAid and Lagos Chamber of Commerce and Industry (LCCI),  have unveiled a web-based solution (ethicsqed.cbinigeria.com) to help Micro, Small and Medium Enterprises (MSMEs) meet COSO 2013 standards.

 

The unveiling was detailed in a communique made available to the media in Lagos on Tuesday.

 

Mr Soji Apampa, chief executive officer, Convention on Business Integrity (CBi), explained that the web-based designed aimed at preparing MSMEs meet the COSO 2013 standards on internal controls and to establish certifiable anti-bribery, anti-corruption standards (ABAC).

 

Apampa said that notwithstanding the various challenges faced by businesses in Nigeria, MSMEs could distinguish themselves from other organisations by being compliant with international standards as a competitive edge and subscribing to the COSO 2013 framework.

 

He said that donor organizations as well as development banks have had cause to stop MSMEs from participating in their activities because of integrity issues in a process called Debarment.

 

“MSMEs in Nigeria are severely challenged by issues of undercapitalization, lack of records, difficulty to access of bank credit, high cost of doing business, irregular power supply.

 

“Additionally, inability to separate personal finances from business, corruption, infrastructural inadequacies like bad roads, government lack of interest in the sector, amongst a host of others summarily explain their challenges.

 

“Issues such as falsification of their year of incorporation, doctoring the value of reference contracts and tampering with the experience of key personnel.

 

“However, compliance with international standards and subscribing to the framework can help address these challenges and put your business in a vantage position to ensure competitiveness,” he said.

 

Presenting the business model of the platform, Mr Maduka Okafor, Information Technology Manager, Integrity Organization Limited,  explained that the value proposition of the platform was to enable MSMEs understand ethical and anti-corruption standards.

 

Okafor explained that it also served as a marketplace of service providers,  who provide regulatory interface services and also help MSMEs internally assess themselves and show credible evidence of conformance with standards and regulations.

 

He said that the customer segments expected to make use of the platform are International Donor Agencies, Banks and Other Financial Institutions, Venture Capital Firms, Large Enterprise Companies and most importantly MSMEs.

 

The manager disclosed that the key partners supporting the initiative are Center for International Private Enterprise CIPE, Department for International Development (DFID), other international donor agencies, financial institutions and service providers.

 

Okafor said that the platform was secure and compliant with the General Data Protection Regulation (GDPR) standards on data protection and covered the requirements needed to comply with the COSO 2013 framework.

 

“It includes segments such as having a controlled environment, risk assessments, controlled activities and information and communication.

 

A panel session headed by Mr Solomon Aderoju, chairman, Nigerian Association of Small and Medium Enterprises (NASME), agreed that more incentives could be used as a motivation tool to drive the usage of the platform amongt other benefits.

 

“MSMEs remain the backbone of major developed economies and they are important contributors to employment, economic and export growth.

 

“While MSMEs contribute 48 per cent of national Gross Domestic Product (GDP), account for 96 per cent of the private sector and 84 per cent of national employment; they are still faced with challenges hampering their growth.

 

“It is thus important for MSMEs to work towards thriving in this economy by differentiating themselves from the crowd and building processes on systems, not on individuals, in order to ensure sustainability,” he said.


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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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