General News
Experts Canvass Islamic Insurance to Deepen Industry Growth
The search for tools to deepening insurance penetration has continued to attract the intelligent contribution of experts. This is not unexpected considering that almost a decade after insurance was first introduced into Nigeria its growth rate is still far below 5 percent. Even traditional areas of strength such as motor vehicle insurance are still enveloped in crisis. In the past months, many experts have brain stormed on the way forward. However one recent contribution which stakeholders have advocated for is Islamic insurance, otherwise known as Takaful insurance. The concept of Takaful insurance is not very popular in Nigeria. This is not strange as even the conventional insurance is still struggling for recognition.. Takaful insurance is a form of insurance which is deemed permissible for muslims under the sharia law. The major difference between it and the conventional insurance is the restrictions it places on investments and its enlarged flexibility on capital formation.
In countries with large concentration of muslims such as Nigeria, conventional insurance operates but their services are mainly limited to commercial needs and that of elite members of the society.
According to Dr. Mike Ikupolati, Head of Mission, West African Insurance Institute, while presenting a paper on the issue, he expressed sadness that insurance penetration is still very low even in many I slamic countries. The reasons for this low penetration have to do with muslims’ belief that “conventional insurance policies contain elements that are contradictory to islamic principles, namely uncertainty (Gharar) gambling (Maisir) and interest (Riba) (Sigma 2001).”
However, insurance is not entirely new to islam as historical records have it that it existed “since the early secured century of the islamic era when muslim Arabs expanding trade into Asia mutually agreed to contribute to a fund to cover mishaps or robberies along the numerous sea voyages”.
He explained that according to works done by notable scholars like fisher in 1999, Yusof, 1999 and Shakir, also in 1999, insurance in Islam is allowed but it has to be based on the “principles of mutuality and cooperation and encompasses the elements of shared responsibility, joint indemnity, common interest and solidarity.”
The insurance expert reiterated that islamic insurance is also one credible form of alleviating poverty, especially when viewed against the backdrop of muslims’ population put conservatively at 23percent of the total world population. Of this number, he said, over half of the population is Asia and Africa. He stressed that in Africa, for instance, muslims account for about 47percent of the population whereas in Asia, muslim population is put at 27percent, 7percent in Europe and 2 percent in North America.
Corroborating the works of the Islamic scholars, Ikupolati identified poverty as one of the greatest impediments to expected insurance growth level. Interestingly, the work of Sabbir Patel in 2002 revealed that muslims around the world are faced with low-income levels. Mr. Fidel Agbokona, chairman, Akofad Consulting Group agreed that at the present low level of insurance in Nigeria, all measures must be taken to deepen insurance penetration. He asked Nigerians to embrace Islamic insurance irrespective of religious inclination, if it is capable of moving the industry forward. He regretted that while a lot could be gained by some insurance products like this insurance awareness is still unbelievably poor in Nigeria.
Arising from this, Nigerians are said to also lack access to social security systems, health care, education, sanitation and employment opportunities. He expressed dismay that there is “growing inadequate infrastructures in Nigeria as in other islamic countries including the rich Arab nations, due to the increasing population and wave of cheap immigrant labour” This unfortunate situation, he said, calls for some risk protection mechanism in order to lower the vulnerability of the muslim population and the society at large.
The history of Takaful insurance could be traced to Sudan where the first Tafaful Insurance Company of Sudan was established in 1979.
Presently, there are over 100 Takaful Insurance companies scattered around the world. Also, there are a number of conventional insurance companies who have created reasonable grounds for islamic insurance. In Nigeria, for instance, one of such insurers is UnityKapital Insurance Company which has strengthened its service-delivery in Islamic insurance alongside its conventional insurance business. There are indications that some insurance companies are bracing up to extend their services to include Islamic insurance.
Since Takaful may be useful in cushioning the effect of the middle and working class and assisting in the event of a large loss, micro-takaful’ is therefore desirable to bring service-delivery to the grassroots.
“Takaful insurance can assist in achieving greater equality and empowerment of the poor by protecting them against unforeseen losses and giving them the courage to improve their productivity and livelihood through access to education, healthy care and employment.” Ikupolati said.
General News
NCDC Enhances Monitoring, Releases Advisory amid Rising Global Hantavirus Cases

Nigeria Centre for Disease Control (NCDC) has intensified nationwide disease surveillance following reports of a Hantavirus infection cluster connected to international cruise ship travel involving several countries.

Dr Jide Idris, director-general, NCDC, in a public health advisory, confirmed that Nigeria has not recorded any confirmed Hantavirus case and stated that the overall public health risk remains low.
According to the agency, the reported outbreak currently involves a limited number of confirmed and suspected infections linked to cruise ship exposure, while international investigations and contact tracing efforts continue.
The NCDC explained that the advisory was released to strengthen national preparedness and encourage vigilance against emerging infectious diseases amid growing global concern surrounding the outbreak.
Health authorities noted that Hantaviruses are mainly transmitted through exposure to infected rodents, their urine, saliva, droppings, or contaminated dust particles. Symptoms may include fever, fatigue, muscle pain, gastrointestinal illness, and in severe cases, respiratory complications.
The current outbreak has reportedly been associated with the Andes virus strain, which has shown limited human-to-human transmission through close contact in previous cases.
The NCDC stated that enhanced monitoring systems have been activated nationwide to support early detection and rapid response efforts.
The agency also urged Nigerians to maintain proper hygiene, prevent rodent infestations, safely store food items, and avoid exposure to rodents and contaminated environments.
Officials further advised the public to rely only on verified information from recognized health authorities and avoid spreading misinformation regarding the outbreak.
General News
Moniepoint Partners GDG Lagos, Women Techmakers to Empower the Next Generation of Women Architects in Tech

In a critical move to bolster talent density and accelerate Nigeria’s digital economy, Africa’s all in one financial ecosystem, Moniepoint hosted an International Women’s Day event bringing together women in technology for a day of leadership development and hands-on product building.

Held at Moniepoint’ Headquarters in Lagos, themed “Break the Pattern,” the event was organised in partnership with Women Techmakers Lagos and Google Developer Group (GDG) Lagos with participants spanning both technical and non-technical backgrounds, reflecting the breadth of women currently active across Nigeria’s digital economy.
In a keynote address delivered by Kemi Nwogu, Head of Product at Moniepoint Inc, titled “Breaking the Pattern: How Women Can Redefine the Future of Tech,” she made the case that progress for women in technology requires not just access to existing structures, but the tools and confidence to reshape them. Furthermore, Nwogu issued a bold call to action, urging attendees to move beyond traditional career playbooks and take ownership of shaping the industry’s future.
“From a young age, many girls have been subtly discouraged from pursuing science and tech. They are told sometimes directly, sometimes indirectly, that tech is too hard, too technical, or simply not for them. These patterns are not facts, they are constructs. And what has been constructed can be deconstructed! The future of tech needs leaders who build people, not just products, cultures, not just systems,”said Nwogu.
On building skills with purpose, she urged women to “show up everyday, make small, steady progress with online courses, coding bootcamps, open-source projects while leveraging the full ecosystem; take on challenging tasks as your greatest classroom using real problems to build real skills; while knowing why you’re building a skill as every learning goal can be tied to a career journey.”
This thematic fare of the event was further explored in a panel discussion, “Unscripted: Leading Beyond the Patterns We Inherited”, moderated by Atinuke Oluwabamikemi Kayode and featuring leaders from fintech, creative design, and software engineering space, including Chukwu Adaeze (Creative Director, CAV Digital), Chinenye Ogbu (Customer Experience Lead, Hydrogen), and Motunrayo Koyejo (Senior Software Engineer, Cowrywise).
The robust and extensive conversation examined the professional archetypes that have historically defined leadership in the Nigerian tech ecosystem: the engineering culture that equates output with exhaustion, the creative industry’s tendency toward top-down authority, the script-driven rigidity of customer-facing roles. The panelists also provided deep insights into how they had navigated and, in places, dismantled those patterns within their teams and organizations.
The event went beyond conversations to a hands-on workshop, Prompt to Production, facilitated by Taiwo Famakinde which guided attendees through modern product development from prompt design through rapid prototyping to the deployment of a functional application using AI tools.
A lot of the participants entered with little to no prior experience building software products. The workshop then fed directly into a Buildathon, where participants developed and deployed their own solutions in real time, with the strongest builds recognised and rewarded at the closing ceremony.
“IWD celebrations are often heavy on inspiration, but we wanted to offer something more, a proof of capability. Oftentimes, there is a gap between having ideas and actually building them, and we set out to bridge that by creating a space where women could easily deploy their ideas into live products with AI in just a few hours. By the end of the day, something that once felt complex due to the fast pace of AI started to feel possible.
“Our participants left with both the technical confidence to build and the leadership frameworks to navigate their careers on their own terms, ensuring they are no longer just participants in the tech ecosystem, but the architects of its future. They are now ready to test their ideas and lead without waiting for perfect conditions or a full team.” said Funke Olasupo, Co-organizer, Women Techmakers Lagos.
Interestingly, the “Break the Pattern” event sits within a broader investment in Nigeria’s technology talent pipeline that Moniepoint has deployed over the years. As one of Nigeria’s most significant fintech employers, the company runs a critical engine that sustains Nigeria’s formal and informal economy.
Moniepoint has invested in developer community partnerships including its ongoing collaboration with GDG Lagos as well as internal programmes designed to build engineering depth across product domains that include its highly successful Women in Tech initiative, DreamDevs, HatchDev and the government’s acclaimed 3MTT programme.
General News
Google Disrupts AI-Driven Cyberattack, Warns of Emerging Security Risks

Google says it has disrupted an attempt by a criminal group to use artificial intelligence (AI) to exploit a previously unknown software vulnerability, highlighting growing concerns over the use of AI in cybercrime.

The technology company disclosed this on Monday, saying the hackers planned to exploit a “zero-day” vulnerability in an unnamed company’s digital system before the attack was intercepted.
A zero-day vulnerability refers to a software flaw unknown to the vendor or security teams, leaving no time to develop a protective fix before exploitation.
John Hultquist, Chief Analyst at Google’s threat intelligence arm, described the incident as a significant shift in cybersecurity threats.
“It’s here. The era of AI-driven vulnerability and exploitation is already here,” Hultquist said.
According to Google, the attackers intended to exploit a security flaw that would have allowed them to bypass two-factor authentication and gain access to a widely used online system administration tool.
The company said it had notified the affected firm and relevant law enforcement agencies, successfully disrupting the operation before any damage occurred.
Google, however, declined to identify the targeted company, the threat actors involved, or the AI model used in the attempted breach.
The firm said preliminary analysis suggests the hackers used a large language model, similar to those powering popular AI chatbots, to identify the vulnerability.
Google noted there was no evidence linking the attempted attack to any government-backed operation, although groups connected to China and North Korea have reportedly explored similar AI-enabled cyber techniques.
The disclosure comes amid growing debate over the regulation of increasingly advanced AI systems capable of coding, vulnerability discovery, and cybersecurity analysis.
Recent advancements in AI hacking tools, including Anthropic’s newly announced cybersecurity-focused model, Mythos, have intensified concerns among governments and technology firms worldwide.
The U.S. government has also stepped up oversight of advanced AI systems, with the Commerce Department recently announcing agreements with major technology firms, including Google, Microsoft, and xAI, to evaluate powerful AI models before public release.
Industry analysts warn that while AI could strengthen cybersecurity by helping organisations detect and patch software flaws faster, it could also accelerate cyber threats by enabling criminals to discover and weaponise vulnerabilities at unprecedented speed.
Dean Ball, Senior Fellow at the Foundation for American Innovation, said governments may need to consider stronger oversight of advanced AI tools.
“I don’t like regulation. I would prefer for things not to be regulated. But I think we need to in this case,” Ball said.
Experts say the growing use of AI in cybersecurity could create a transitional period of heightened digital risk before stronger defences are developed globally.
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