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E-Business

IBM Promotes Safe & Secured Computing, Releases Advanced Security Software Application

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The era of complex, disaster-prone computing might just be over, or perhaps, around the corner. These days, computing is as much about people (the soft issues) as it is about devices (hard issues).

Our personal habits, our income levels and resources, our education of certain things (or ignorance, as the case may be), our work place practices, our social norms and the way we live and engage with the larger society generally all help to define how we make use of the available ‘software’ and ‘hardware’ tools in the environment.
    
The changing global demographic is also a key factor. In a few years, “Generation Y” (those born beginning in the mid-1970s) will make up half of the workforce worldwide.

This population is marked by an increased familiarity and reliance on communications, media and digital technologies — they came of age in a connected world.

In a measured response to this trend, scientists and inventors at IBM began to actively promote the concept of BYOD (bring your own device) many years ago.

BYOD has enormous implications on work place productivity, how companies support alternate work schedules and preferences and even who they are able to recruit.

In Nigeria, Africa’s most populous economy, the dynamic of how people live and work is also changing, albeit slowly. Work used to be a “place”.

Now, work can be any place and everywhere, and the tools to enable these new work practices are increasingly available.

New technology is helping to attenuate some of the key infrastructure issues and challenges facing the country, and companies operating in Nigeria will have to dump their analogue era habits and procedures to embrace this emergent work-life ethic if they are desirous of making full use of employee skills and capabilities. 

In this era of social and business networks, connectivity and content creation and consumption is only a click or two away.

The integrity of electronic or digital information and raw data, encompassing data generation, protection and security, is increasingly a major headache for device makers and users alike.

As data consumption habits change – with more and more individuals developing content on mobile devices, and communicating within local and international boundaries with these devices – the question, “how safe and secure is your software environment / infrastructure?” becomes very pertinent. 

According to Gartner, a global technology research consultancy, more than 45.6 billion mobile applications were downloaded in 2012.

As the rate of application use on mobile devices increases, securing smartphones and other endpoint devices is a top priority for organizations and Chief Information Security Officers.

The proliferation of consumer and enterprise mobile applications also adds to the dilemma. Organizations cannot always control or restrict the applications installed on user devices, so they must test how applications send and save data.

One of the technology firms at the forefront of solving and embracing this new way of work is IBM, the 101 year old company based in Armonk, New York, USA. IBM recently announced the release of its new security software – the IBM AppScan Source 8.7 for iOS – that can automatically identify where data enters and leaves a mobile application, helping to prevent mobile data leakage. 

This new software release builds on IBM’s MobileFirst initiative and expands the company’s strategy to provide organizations with a mobile platform that spans application development, integration, security and management.

Consequently, companies and internet software developers globally can better protect each mobile application release in the face of constant updates. IBM previously announced IBM AppScan for applications running on the Android platform.

Taiwo Otiti, IBM’s country general manager for West Africa said the IBM AppScan Source 8.7 for iOS will be available in markets globally as from March 25..

Otiti acknowledged that for many companies, the pace of mobile application releases and updates can be overwhelming as they try to maintain strict security guidelines and policies. “IBM AppScan Source 8.7 for iOS provides the ability to improve security quality without sacrificing time-to-market of mobile application projects.”

As always with IBM, business-friendly innovations like this new security software often begin life incubating as prototypes and projects in any or several of IBM’s 12 labs located around the world. IBM products therefore undergo rigorous design, development and testing cycles by IBMers beginning with its scientists, engineers, staff and business partners.

This culture of scientific rigor and excellence is one of the reasons IBM has remained at the apex of innovation for decades.

IBM developed its own mobile apps store — WhirlWind — created exclusively for IBMers, many years ago.

WhirlWind currently supports Apple iOS, Google Android and Blackberry devices. It is designed to help employees unleash the power and potential of their smartphones as a productivity tool. The store currently offers more than 500 apps and recently passed the 40,000 download mark.

At the moment, some 120,000 employees access the IBM network through mobile devices (smartphones, tablets, laptops).

Of those, 80,000 are using devices they have purchased on their own, while the remaining 40,000 employees are using company issued devices.

IBM is always mindful of security and how it needs to stay ahead of malware and other threats to its data and that of its clients.

The company has tools in place to protect its data from being compromised, and is implementing other tools on an ongoing basis, realizing that this will always be a moving target.

Organizations need to be able to seize the business potential that mobility promises, said Caleb Barlow, IBM’s director of Application, Data and Mobile Security. He therefore counsels firms to incorporate security into their infrastructure and solutions from the design, development and testing phases rather than leaving security to become an afterthought.

Employees play a significant role in security by employing common sense practices and avoiding risky sites or untrusted networks. IBM has outlined advised practices in its “Secure Computing Guidelines,” similar to what it has in place for social computing and business conduct in general.

The bottom line is IBM will not compromise it network. That means that some devices and applications will be enabled inside of IBM more quickly than others, and some may never be enabled at all. 

Nigerian firms and their employees would do well to a take a cue from this global technology company.


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E-Business

Global Crypto Heists Surge to $2.1Bn in H1 2025 as Digital Assets is Weaponised

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In a sobering revelation of the evolving threat landscape facing the digital asset ecosystem, blockchain intelligence firm TRM Labs has disclosed that over $2.1 billion worth of cryptocurrency was stolen in the first half of 2025 alone, spanning at least 75 high-profile hacks and exploits.

Global Crypto Heists Surge to $2.1Bn in H1 2025 as Digital Assets is Weaponised

This staggering figure marks a 10 per cent surge over the previous first-half record set in 2022 and nearly eclipses the total stolen in all of 2024.

But beyond the monetary scale, the report reveals a deeper concern: a growing trend of state-sponsored cyber aggression weaponising  crypto assets for strategic and geopolitical purposes.

The most devastating breach to date occurred in February when Dubai-based exchange Bybit lost $1.5 billion—the largest  crypto heist in history.

TRM Labs attributes the attack to North Korean state actors, noting that the incident alone accounted for nearly 70 percent of total losses during the period and doubled the average hack size to $30 million.

“The Bybit hack redefined the threat landscape,” the report stated.

“It exemplifies how digital asset theft has transcended criminal opportunism and morphed into a tool of statecraft.”

Indeed, North Korea-linked entities were responsible for an estimated $1.6 billion of the total stolen, further entrenching Pyongyang’s status as the most prolific nation-state threat actor in the crypto sphere.

Yet the menace is diversifying. On June 18, Iranian crypto exchange Nobitex was breached for over $90 million by a group reportedly linked to Israel, Gonjeshke Darande (Predatory Sparrow).

Unusually, the stolen funds were routed to unusable vanity addresses, underscoring symbolic and political motives rather than financial gain.

TRM Labs flagged this as a “disturbing shift,” with digital asset theft increasingly deployed as a weapon in asymmetric geopolitical conflict.

The report also found that more than 80 percent of losses stemmed from infrastructure breaches, including private key theft, seed phrase leaks, and front-end compromises— attacks typically ten times costlier than other vectors.

Meanwhile, DeFi exploits such as flash loan manipulations accounted for 12 percent of losses, reflecting persistent smart contract vulnerabilities despite years of scrutiny.

As digital currencies become enmeshed in global rivalries, TRM Labs warns that conventional cybersecurity approaches are now inadequate.

“Massive breaches, often tied to nation-state operations, require a new defence paradigm,” the firm asserted, urging industrywide adoption of advanced safeguards and cross-border collaboration among regulators and law enforcement.


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CAC Launches AI-powered Business Registration Portal

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Corporate Affairs Commission (CAC) has inaugurated the pilot take-off of its new Artificial Intelligence (AI)-powered registration portal.

CAC Launches AI-powered Business Registration Portal

A statement issued by the commission explained that Malam Hussaini Magaji, registrar-general of the CAC, made the announcement during the 2025 Stakeholders Forum in Port Harcourt.

According to him, “the initiative is a major milestone in Nigeria’s business facilitation drive.”

The Registrar further explained that the upgraded portal marks a complete overhaul of the Company Registration Portal (CRP), saying that it comes with advanced features designed to simplify and speed up business registration.

The new system, according to him, allows for instant name reservation approvals, likening the ease to creating an email account, and stressing that the AI-powered platform could suggest available alternatives to business names and approve them immediately.

Another innovation, he stated, is the ability to register a business using only the National Identification Number (NIN) of a director or proprietor, pointing out that there is an ambitious target of completing business registration and certificate generation within 30 minutes, subject to real-time NIN validation.


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Bitget Launches Institutional Services to Empower Fintech Innovation

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Bitget has launched its institutional services in Nigeria, offering fintech companies a robust platform to build innovative solutions on top of Bitget’s suite of institutional-grade offerings.

Gracy Chen, CEO, Bitget, in a statement said, “Our goal is to empower Nigerian businesses to innovate and leverage blockchain for wealth creation opportunities, hence, the institutional services empower fintech leaders with tailored solutions, as the offerings designed to cater for the unique operational needs of institutional clients, enabling businesses to embed trading functionalities like spot and futures markets, wallet management, and more, directly into their platforms.

“The Key services include White-label Broker Services which enabled Fintech companies to deploy customized crypto exchanges using Bitget’s infrastructure while managing branding and users independently. There is also API Solutions that can make the Developers to integrate trading functionality via APIs for spot, margin, and derivatives markets, ensuring fast execution and seamless experiences for end users.”

Chen added, “The ND Broker Model provides clients with complete autonomy over user-facing platforms, offering exclusive front-end flexibility while relying on Bitget for back-end market liquidity. Clients are able to employ Protection Fund and Proof of Reserves of over $600million secured in the Bitget Protection Fund and real-time Proof of Reserves, which gives clients assurance of maximum transparency and security.”

 


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