E-Business
FG to Punish Defaulters of EO3, IT Clearance Directives

President Muhammadu Buhari, has vowed to deal with defaulters of the Executive Order 003 (EO3) and has also directed the National Information Technology Development Agency(NITDA) to report any government agency that fails to comply with the new IT Clearance directive to the government for punitive action to be taken.
Executive Order 003, requires all Ministries, Departments and Agencies (MDAs) of Government to grant preference to local manufacturers of goods and service providers in their procurement of goods and services, would serve to create jobs, especially for the youth, and generate wealth.
Buhari at 2018 e-Nigeria international conference and exhibition, organised by NITDA in Abuja, said that the warning became necessary in view of his administration’s determination not to fail in its quest to eliminate corruption in government businesses and in the wider society.
He noted that NITDA’s initiative focused on the Registration of IT Contractors and Service Providers in collaboration with other regulatory bodies with special emphasis on competencies.
According to him, this will ensure the delivery of quality IT projects, as well as facilitate the development of indigenous IT companies in line with global
“You may also recall the remark about NITDA’s efforts at enforcing Federal Government’s directive on ensuring that all ICT projects in the country are cleared by it before implementation.
“This will ensure that government’s ICT procurements: Are transparent; Aligned with government’s IT shared vision and policy; Lead to cost savings through promotion of shared services; avoid duplication; ensure compatibility of IT systems and improve efficiency in government business; enforce the patronage of indigenous companies where capacity exists and uphold the highest standards for service delivery.
“In this administration’s efforts at ensuring full realisation of these objectives, a new circular was issued in August this year, to reiterate this directive.
Buhari
Buhari observed that NITDA and other relevant government agencies had taken this up by creating the enabling environment through the development of policies, frameworks, standards and guidelines.
He said, “I am aware that some of these regulatory instruments have been subjected to critical scrutiny and revision through a series of stakeholder engagements.”
He, however, maintained that efforts should be intensified to make them public and to sensitise the public about the value of the regulatory instruments.
The President noted with delight the enforcement of the use of the policy on Treasury Single Account (TSA), the Integrated Payroll and Personnel Information System (IPPIS) and the Bank Verification Number (BVN) and the impact they had made on the administration’s public financial management reforms.
Buhari added that the consolidation of accounts and elimination of ghost workers that resulted in a combined monthly savings of about N24.7 billion, the TSA facilitated the recovery of huge sums of money, including the N1.6 billion that was recently recovered from a single account.
He said the policy initiatives had reinforced his administration’s fight against corruption by ensuring transparency and accountability in government business transactions.
According to the President, the success of his administration’s Social Investment Programme, which is seen in many quarters as the largest and most ambitious social safety net programme in recent history, relies heavily on the application of ICT.
He observed that the components of programmes such as the N-Power, Government Enterprise and Empowerment Programme (GEEP), the Home Grown School Feeding Programme (HGSFP) and the Conditional Cash Transfer (CCT) all leverage on ICT.
He disclosed that the programmes had so far benefited over nine million Nigerians.
The president revealed that the NITDA, in collaboration with the National Social Investment Office (NSIO), was coordinating federal government’s initiative of establishing eight Innovation Hubs.
He added that the eight Innovation Hubs would be sited one in each of the six geo-political zones and one each in Lagos and Abuja.
President Buhari explained that the purpose of establishing these hubs was to facilitate digital capacity building for immediate employment, entrepreneurial skills development, job and wealth creation.
“All these are aimed at promoting the digital economy in an era of disruptive technology through effective regulations,’’ he said.
The president, therefore, enjoined the Conference to come up with “innovative ideas, workable and implementable recommendations that would help and enhance government’s efforts at creating the enabling environment for the promotion of the digital economy in an era of disruptive technologies, considering our peculiarities as a country.’’
In his remarks, the Director-General of NITDA, Dr Isa Pantami, lauded President Buhari for the issuance of the Presidential Executive Order 003 and 005.
The Executive Order 003 mandates all ministries, departments and agencies to give preference to locally manufactured goods and services in their procurement of information technology services, in order to strengthen its implementation as well as provide clear policy directions.
Presidential Executive Order 005 which was also issued in February, is part of the administration’s deliberate efforts and strong commitment at strengthening the role of Science, Technology and Innovation in the country’s socio-economic development.
Pantami disclosed that over N30billion had so far been saved by the federal government following the implementation of its IT and ICT policies and programme.
The conference has “Promoting Digital Economy in an Era of Disruptive Technologies through Effective Regulation” as its theme.
E-Business
NITDA, CISCO Empower Youth with Digital Skills

Fifty selected young unemployed Nigerians have completed a four-week intensive digital skills bootcamp under the Digital Literacy for All (DL4ALL) initiative, gaining practical training in Data Science, Artificial Intelligence (AI), and IT Essentials.
The programme, a collaborative effort between the National Information Technology Development Agency (NITDA) and Cisco, was hosted at NITDA’s South West Zonal Office in Victoria Island, Lagos.
Speaking on behalf of the Director General of NITDA, Kashifu Inuwa , the Head of the South West Zonal Office, Mrs. Chioma Okee-Agugwo, described the initiative as a vital component of Nigeria’s digital future. “This is not just a closing ceremony. It is the launchpad for new journeys—anchored in digital knowledge and powered by innovation,” she remarked.
According to the Director General, the initiative is rooted in NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0) and reflects key focus areas including Digital Literacy, Emerging Technologies, and Youth Empowerment. It also aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to accelerate economic diversification through digitisation, innovation, and skills development.
Inuwa noted that the DL4ALL initiative forms part of Nigeria’s broader commitment to digital inclusion—ensuring that no one is left behind in the evolving digital economy. It also supports the ambitious goal of achieving 70% digital literacy by 2027, championed by the Honourable Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani. This national vision aims to equip millions of Nigerians with the skills required to thrive in a tech-driven world.
He further emphasized the importance of empowering youth with globally relevant skills. “They are no longer just consumers of technology. They are creators, innovators, and future employers,” he said.
The NITDA boss explained that throughout the bootcamp, participants engaged in hands-on learning experiences designed to build both technical proficiency and digital leadership capabilities.
“This is only the beginning,” he stated. “Through our zonal strategy, we are bringing innovation closer to local communities. This is how we democratise access and unlock Nigeria’s full digital potential.”
Inuwa expressed appreciation to Cisco for delivering high-impact training and called on stakeholders to continue investing in partnerships, people, and platforms that drive digital inclusion.
He asserted that the newly certified participants are now equipped to contribute meaningfully to Nigeria’s digital economy—armed with the skills to build solutions, secure infrastructure, and launch tech ventures that solve real-world problems.
At the end of the bootcamp, participants demonstrated their knowledge through impressive presentations that showcased the integration of skills acquired across Data Science, AI, and IT Essentials. Many spoke passionately about how the programme had expanded their technical competence and sparked a drive to create job opportunities—not only for themselves but also for others—as entrepreneurs and digital solution providers in their communities.
E-Business
Cyberattack Could Cost it Up to $400m – Coinbase

Coinbase forecast a hit of between $180m and $400m from a cyberattack that breached account data of a “small subset” of its customers, the crypto exchange said in a regulatory filing on Thursday.
The company received an anonymous email on May 11, claiming to have information about certain customer accounts as well as internal documents.
While some data — including names, addresses and emails — was stolen, the hackers did not get access to login credentials or passwords, Coinbase said.
Still, it will reimburse customers who were tricked into sending funds to the attackers.
Hackers had paid multiple contractors and employees working in support roles outside the US to collect information.
The company has fired those involved, it said.
Separately, the New York Times reported that the US Securities and Exchange Commission (SEC) was investigating whether the company had misstated its user numbers.
Coinbase shares extended losses after the report and were last down 6.5%.
“This is a hold-over investigation from the prior administration about a metric we stopped reporting two-and-a-half years ago, which was fully disclosed to the public,” said Paul Grewal, Coinbase’s chief legal officer.
“While we strongly believe this investigation should not continue, we remain committed to working with the SEC to bring this matter to a close.”
The SEC declined to comment.
The latest developments come days before the company is set to join the benchmark S&P 500 index, casting a shadow over what was expected to be a landmark moment for the crypto industry.
Security remains a challenge for the crypto industry despite its growing mainstream acceptance.
In February, Bybit disclosed a hack in which about $1.5bn worth of digital tokens were stolen — widely described the biggest crypto heist ever.
“The cyberattack may push the industry to adopt stricter employee vetting and introduce some reputational risks,” said Bo Pei, an analyst at US Tiger Securities.
Funds stolen by hacking crypto platforms amounted to $2.2bn in 2024, according to a report from Chainalysis, a US-based blockchain analysis firm.
“As our nascent industry grows rapidly, it draws the eye of bad actors, who are becoming increasingly sophisticated in the scope of their attacks,” said Nick Jones, founder of crypto firm Zumo.
Coinbase has refused to pay a ransom of $20m demanded by the attackers and is working with law enforcement agencies. Instead it has established a $20m reward for information on the hackers.
The company is also opening a new support hub in the US and taking other measures to prevent such cyberattacks, it said.
E-Business
Q1 2025 .ng Domain Name Statistics Reflect Nigeria’s Advancing Digital Landscape

The Nigeria Internet Registration Association (NiRA) presents its report on .ng domain name registration and renewal statistics for the first quarter of 2025, highlighting the continued expansion of Nigeria’s digital footprint. The data underscores a consistent and significant adoption of the nation’s Country Code Top-Level Domain (ccTLD), reinforcing its pivotal role in the burgeoning Nigerian digital economy.
During the period spanning January to March 2025, a total of 40,791 .ng domain names were recorded. This figure comprises 22,236 new registrations and 18,555 renewals, indicating a healthy balance between the acquisition of new digital identities and the sustained commitment of existing domain name holders to their online presence.
Analysis of the registration trends within the quarter reveals a notable upward trajectory, with a 13.92% increase in domain name registrations observed between February and March 2025.
This growth signifies an increasing recognition of the importance of a localized online identity by a diverse range of stakeholders, including individuals, startups, Small and Medium-sized Enterprises (SMEs), and larger organizations.
Notably, the .com.ng extension continues to be the dominant choice, accounting for over 60% of both new registrations and renewals. This reaffirms its status as the preferred domain name extension for Nigerian businesses seeking to establish a credible and locally relevant online brand presence while maintaining global accessibility. The sustained popularity of .com.ng underscores its perceived value among Nigerian entrepreneurs and enterprises seeking to secure their digital real estate.
This upward trajectory isn’t happening by chance. The Nigeria Internet Registration Association (NiRA) has remained intentional in its drive for digital inclusion and domain adoption. Through public education, training via the .ng Academy, outreach campaigns, and partnerships with stakeholders across the tech ecosystem, NiRA has consistently advocated for the importance of owning a local domain. The current standing of .ng as the second most registered ccTLD in Africa reflects the efficacy of these efforts.
Digital adoption in Nigeria is no longer just about being online—it’s about owning your digital identity. And with a .ng domain, Nigerians are better positioned to assert that identity, connect with local and international audiences, and gain better control over their digital footprints.
As we look toward the rest of 2025, the Q1 results serve as a strong signal: more people are embracing the digital future, and the .ng domain is increasingly becoming their first step.
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