News
Experts Fret over Cyber-Security, List Areas of Focus
Cyber security experts have articulated areas of focus for organizations and government agencies in their efforts to protect their networks against cyber- attacks this year, as the country awaits the signing into law of the cyber security bill recently passed by the National Assembly.
Oluseyi Akindeinde, chief technical officer, Digital Encode, urged government to set up cyber security operating centres that will protect national critical infrastructure networks.
According to him, the centres will serve as surveillance system that will monitor activities on the networks of tier 2 internet service providers that bring internet into the country including; undersea cable infrastructure and satellite networks as well as the country’s top level domain name the .ng network.
“This has become necessary in view of the recent cyber-attack of Sony network in USA. We also need to train people that will work in these centres to ensure it achieves the desired result,” he noted.
He added that organizations such as banks and telecom operators among others also need to establish their cyber security operating centre that will monitor their networks against hackers as well as electronic fraud he describe as internal collision to commit fraud in those organizations.
Tobechi Ndubuaku, chief operating officer, Tobeit Consulting, organizers of annual Hackcess conference, advises organizations to fortify their networks with cyber security software that gives them the required protection.
“There are some networks that have the kind of ‘Buffer’ against hacking. In some network they are exposed to hackers for not been strong, there is need for such organizations to build their infrastructure with the right security network against hacking. This is not something you build and you relax, you will need to keep updating the software, the end-point of this is to be five steps ahead of hackers,” he stated.
Ndubuaku also stressed the need to encourage security conferences in the country, according to him it is in such conferences that directions of activities of hackers are exposed and ways to address it are proffered.
He applauded the passage of national cybercrime bill 2014, noting that when it is signed into law it will empower EFCC to effectively prosecute cybercrime in the country.
Chris Uwaje, former president, Institute Software Practitioners of Nigeria (ISPON) and advocate of cyber security had warned that cyber terrorism is real and must be taken serious.
Uwaje called for the setting up of “ethical hackers” to protect networks by hacking and stealing vital information and later returning them to show their vulnerability.
Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.
In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.
According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.
Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.
He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.
“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.
He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.
The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.
In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.
He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.
The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.
At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.
According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.
Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.
He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.
The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.
He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.
According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.
Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.
The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.
Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.
The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.
Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.
Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.
The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.
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