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Innovation, Creativity on Display @ IBM “CogniHack Lagos 2016”

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Members of Team CogniBank @ IBM CogniHack Lagos 2016
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The abundance and quality of talent in the country’s local technology space was showcased recently to the friendly geeks at IBM.

Showcasing its ongoing investment in the local technology space, IBM chose Africa’s most populous city to convene “CogniHack Lagos 2016”, a software coding competition, specifically designed to brush up the cloud and cognitive computing skills of the software development community.

“CogniHack Lagos 2016”, the coding challenge assembled scores of pre-selected local talent – from idea generators, to app designers, freelance programmers, budding software designers and creative hacks.

They came from academia; independent software vendors from places as far as Ibadan, Abeokuta, Abuja, Gusau in Zamfara state, and Zaria in Kaduna state, including a coding teams from local start-ups Software Alliance, Relational Technologies, Andela (which recently got a multi-million-dollar boost from Facebook founder, Mark Zuckerberg), and United Kingdom-based team of Nigerian-born developers.

Their collective tasks was to collaborate on developing solutions for the financial services sector, using IBM’s BlueMix development platform, Watson Developer Cloud and other IBM and third party cloud-based tools.

Their resultant applications will be web and mobile ready. And they had less than 72 hours to come up with their mobile and web-based blueprints.

The young innovators were challenged to unleash their software design and coding skills on building software solutions around customer engagement and customer insights.

But before even getting them to work in teams at its Client and Innovation Center in Lagos (venue of the coding competition), it had curated a series of banking industry challenges and issues from local banks for the constructive teams (white hackers) to work on, pooling them into easily addressable hackathon prompts.

In layman’s terms these hackathon prompts reflect the current headaches of the Nigerian and regional banking industry. Contemporary mobile and electronic banking issues like customer service, money management, bill payments, storage, connecting farmers to sellers etc.

Two banking technology experts, Henry Ideozu and Victor Okigbo representing Heritage Bank and Access Bank respectively, also enriched the coding contest with their savvy technical expertise, retail banking use cases and insights.

Eventually, at the end of the competition, IBM found app designs from three teams worthy of commercial progression, based on the fact that “their ideas and solutions were viable, innovative, scalable and had a path to potential profitability for banking institutions.,” according to Tomi Akingbade, Associate Partner at IBM’s Watson Transformations team for the financial services sector.

“Team CogniBank” emerged tops, with the best software design, according to the CogniHack jury comprising of techies from IBM and banking industry.

Aimed primarily at improving customer satisfaction levels, their application deploys information retrieval concepts to support and optimize usage of the internet banking and mobile banking delivery channels.

The CogniBank application is built around IBM’s Watson Artificial Intelligence platform, enabling prompt and relevant response to customer queries.

After “Team CogniBank”, the second and third place teams were “Team Genie” and “Team Growphile” respectively. Interestingly both teams come from the stables of Andela.    

“IBM promotes talent wherever it can be found. These days, we are focused on leveraging cognitive technologies to transform businesses…clearly with the right support and technology platform, the potentials of Nigeria’s digitally savvy youth can be unleashed to achieve positive impact,” Akingbade says.

IBM expects the software ideas from these innovative teams to blossom into winning solutions and successful enterprises, able to partner with IBM to deliver technology solution and services for humanity.  

The three top teams, CogniBank, Genie and Growphile, will have the opportunity to co-present their solutions to business, technology and public sector leaders at the IBM Business Connect Nigeria 2016 event in Lagos later this week.

No doubt, the Nigerian technology space continues to develop at a fast pace thanks largely to progressive investments that breed successful collaboration between global corporations and indigenous IT institutions and individuals. IBM continues to raise the bar in technology innovation promotion and management with its interesting hackathons.

“CogniHack Lagos 2016” is IBM’s latest hackathon effort on Nigerian soil. About two years ago, the technology giant flagged off its pan-African hackathon series in Lagos with “IBM Lagos Hackathon”, a four-day technology training and ideas incubation programme which developed applications for Mobile Payments and Smarter Government Solutions.

IBM, a global leader cloud and cognitive computing company, currently invests over $6 billion annually in technology research and technology.

Notwithstanding Nigeria’s current harsh economic climate, the country’s IT ecosystem is a fertile ground for solid long term returns. The results of IBM’s ongoing investments in Nigeria’s IT space can only mean one thing – positive growth for the local IT economy.


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Elon Musk Seeks $134Bn from OpenAI, Microsoft for ‘Wrongful Gains’

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Elon Musk, billionaire Tesla owner, has asked a United States (US) federal court to award him up to $134 billion in damages from OpenAI and Microsoft, stating that the companies earned “wrongful gains” from his early support of the artificial intelligence startup.

Elon Musk Seeks $134Bn from OpenAI, Microsoft for ‘Wrongful Gains’

Elon Musk,

This is according to a court filing, reported by Reuters.

In filings ahead of a trial expected to start in April in Oakland, California, Musk stated that OpenAI benefited between $65.5 billion and $109.4 billion from his contributions when he helped co-found the organisation in 2015, and Microsoft gained between $13.3 billion and $25.1 billion through its involvement.

He has asked a United States (US) federal court to award him up to $134 billion in damages from OpenAI and Microsoft, stating that the companies earned “wrongful gains” from his early support of the artificial intelligence startup.

This is according to a court filing, reported by Reuters.

In filings ahead of a trial expected to start in April in Oakland, California, Musk stated that OpenAI benefited between $65.5 billion and $109.4 billion from his contributions when he helped co-found the organisation in 2015, and Microsoft gained between $13.3 billion and $25.1 billion through its involvement.

Musk’s legal team argues that his early financial and strategic contributions, including approximately $38 million in seed funding, the recruitment of key personnel, and assistance in connecting founders with contacts, laid the foundation for the later success of OpenAI and Microsoft’s commercial AI efforts.

“Without Elon Musk, there’d be no OpenAI. He provided the bulk of the seed funding, lent his reputation, and taught them all he knew about scaling a business. A pre-eminent expert quantified the value of that,” Musk’s lead trial lawyer Steven Molo told Reuters.

“Just as an early investor in a startup company may realise gains many orders of magnitude greater than the investor’s initial investment, the wrongful gains that OpenAI and Microsoft have earned—and which Mr Musk is now entitled to disgorge—are much larger than Mr Musk’s initial contributions,” the filing said.

Musk, who left OpenAI’s board in 2018 and now leads AI company xAI, alleges that OpenAI violated its founding non-profit mission when it restructured to include a for-profit arm tied to Microsoft’s investment and commercial strategy.

Meanwhile, OpenAI has labelled the lawsuit “baseless” and part of a “harassment campaign” by Musk, and Microsoft’s legal team has said there is no evidence the company “aided and abetted” OpenAI in any wrongdoing.

Both companies have asked the judge to limit what Musk’s expert witness may present at trial, arguing that the damages calculations are unreliable and could mislead a jury.

According to Reuters, Musk’s filing says he may pursue punitive damages and other penalties, including a possible injunction, if the jury finds the companies liable, though it did not specify what form any injunction would take.


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Nigeria Targeted with 4,622 Cyber-attacks Per Week in December 2025

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In December 2025, organisations globally faced sustained cyber pressure, as the average number of cyber-attacks per organisation per week reached 2 027, a 1% increase from the previous month and a 9% increase from December 2024.

This is according to December 2025 Global Cyber Attack Statistics by Check Point Research, the threat intelligence arm of Check Point Software Technologies.

According to the statistics, Latin America was the hardest hit, with companies experiencing an average of 3 065 cyber-attacks per week, a 26% year-over-year increase.

In contrast, Africa saw a decline in attacks, with Nigeria (4 622 attacks per week) and Angola (4 002 attacks per week) being the most targeted countries on the continent.

The report’s findings highlight the evolving cyber threat landscape, with ransomware and GenAI-driven data risks posing significant challenges to companies worldwide.

Ransomware attacks jumped 60% year over year, with 945 publicly reported incidents in December. Qilin was the most active ransomware operator, responsible for 18% of publicly disclosed attacks.

“Ransomware continues to scale through industrialised operations, while unmanaged GenAI usage is creating widespread data exposure at enterprise level,” said Omer Dembinsky, data research manager at Check Point Research.

The report noted the education sector was the most targeted industry globally, with 4 349 cyber attacks per week; followed by government (2 666 attacks per week); and associations and non-profits (2 509 attacks per week).

The widespread adoption of GenAI tools has introduced new cyber security risks, with one in 27 GenAI prompts posing a high risk of sensitive data leakage.

Experts warn that companies must prioritise prevention-first security, real-time AI threat intelligence and strong governance over AI tools to mitigate these risks.

Hendrik de Bruin, head of security consulting at Check Point Software, added: “Strengthening ransomware resilience, deploying AI-powered prevention and enforcing clear GenAI governance will be critical to reducing cyber risk in the year ahead.”


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Half of Global Companies Build SOCs to Enhance Cybersecurity, with a Focus on Human Expertise

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Among the primary reasons for establishing a Security Operations Center (SOC) are strengthening cybersecurity posture, enabling faster detection and response and gaining a competitive edge.

Interestingly, despite the increasing demand for automated cybersecurity solutions, businesses rely on skilled security professionals to make key decisions, as human expertise remains essential for effective security management.

A Security Operations Center (SOC) is a dedicated organisational unit responsible for continuous monitoring and safeguarding of a company’s IT infrastructure. Its core mission is to proactively detect, analyse and respond to cybersecurity threats.

To identify the main drivers, strategic priorities, and potential challenges in SOC planning and implementation, Kaspersky has conducted a comprehensive global study involving senior IT security specialists, managers and directors from companies with 500 or more employees.

All participants operate without a SOC but have plans to establish one in the near future. The study spans 16 countries across APAC, META, LATAM, Europe, and Russia, providing valuable insights into the emerging trends and best practices in SOC development worldwide.

The findings of the research reveal that 50% of companies intend to establish SOCs to strengthen their cybersecurity posture, and 45% are motivated by the need to address increasingly sophisticated and dangerous threats.

Other drivers include budget optimisation, the necessity for faster detection and response, and the expansion of software, endpoints and user devices – factors that demand more comprehensive and layered security measures.

These are cited by 41% of organisations. Additionally, 40% seek better protection of confidential information, 39% aim to meet regulatory requirements and one-third (33%) expect SOC capabilities to provide a competitive edge. Larger enterprises tend to cite each of these reasons more often, reflecting the broader operational and regulatory pressures they experience.

Continuous monitoring becomes the leading SOC requirement

Among the key functions organisations plan to delegate, 24/7 security monitoring leads at 54%. This around-the-clock vigilance enables early detection of anomalies, prevents escalation and sustains cyber resilience in real-time. This demand highlights a strategic requirement for proactive risk management, as organisations aim to defend against persistent threats that can strike at any moment.

Companies intending to fully outsource SOC operations show a stronger interest in applying “lessons learned” methodologies, whereas those developing internal SOCs focus more on access management to maintain tighter control.

Human expertise drives SOC technology choices

While SOCs use advanced technology, the choices made by organisations show that human analysts are very important. Among the solutions that organisations plan to include in SOC are – Threat Intelligence Platforms (48%), Endpoint Detection and Response (42%) and Security Information and Event Management systems (40%) – sophisticated solutions that automate data collection and reduce operational load, however, they depend heavily on skilled security professionals who provide critical context, interpret complex findings and make final decisions when guiding appropriate responses.

Other solutions chosen include Extended Detection and Response (38%), Network Detection and Response (37%) and Managed Detection and Response (33%). Large enterprises tend to adopt more technologies (5.5 per SOC on average), while smaller ones integrate fewer (3.8).

“To successfully build a SOC, companies must prioritise not only the right mix of technology but also the careful planning of processes, clear goal-setting and effective resource distribution.

“Well-defined workflows and continuous improvement are essential to ensure that human analysts can focus on critical tasks, making the SOC a proactive and adaptable component of their cybersecurity strategy,” comments Roman Nazarov, Head of SOC Consulting at Kaspersky.

 


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