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ISPON Knocks FG $400m Annual Loss to Foreign Software Renewal

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Institute of Software Practitioners of Nigeria (ISPON) has blamed the federal government and its regulatory agencies such as the National Office for Technology Acquisition and Promotion (NOTAP) and the National Information Technology Development Agency (NITDA), for the loss of about $400 million (N122.8 billion) annually to foreign software licence renewals and upgrades by companies operating in Nigeria.

 

Dr. Yele Okeremi, president of ISPON, who said this, pointed out that such amount could be averted if agencies like NOTAP and NITDA were able to up their regulatory roles in protecting indigenous software developers in the country. Stakeholders had raised the alarm that Nigeria loses as much as $400 million annually to foreign software upgrades and renewals.

Dr. Yele Okeremi,

To avoid such huge loss, which they had described as waste to the Nigerian economy, they had unanimously called for the adoption of indigenous software across financial institutions and other sectors of the economy.

 

Okeremi, who spoke to ThisDay, urged the federal government through its regulatory agencies like NOTAP and NITDA, to up their regulatory roles in order to discourage the continuous patronage of foreign software, especially in solutions that are locally available and developed by Nigerians.

 

“Just like what other developed countries did, Nigeria can enact policy that will not allow inflow of foreign software into the country for a particular period of time like three years and make good efforts to encourage and protect indigenous software developers within the same period.

 

“If this is done, there will be a significant improvement in the quality and standard of indigenous software and the poor perception about indigenous software will vanish into the thin air,” he explained. Okeremi advised the regulators not to wait for companies who patronise foreign software to come to them for approval, but to rather reach out to all companies and organisations that use software to drive their businesses.

 

“Nigeria should be able to rely on indigenous software developers, through the encouragement of regulators like NITDA and NOTAP.

 

“These regulators should do more of engagement with companies that drive their businesses with software, for them to see the need to patronise indigenous software.

 

“Government and regulators should be able to identify where the huge amount of money is being spent outside of Nigeria. When this is identified, government, through NOTAP should be able to identify sufficient skills and capacity for the country to be able to substitute the imbalance that has resulted in huge loss of money to the Nigerian economy, through foreign software patronage,” Okeremi said.

 

He expressed dissatisfaction over a situation where the country has regulatory bodies yet organisations operating in Nigeria are still running foreign software at the detriment of indigenous software developed by Nigerians.

 

He cited the oil and gas sector of the Nigerian economy, where lots of foreign software application still run, and called for a change in the country’s roadmap for software development, if Nigeria must make meaningful progress in software development.

 

Making a case for the adoption of indigenous software in Nigeria, Dr. Dan-Azumi Mohammed Ibrahim, director general of NOTAP, had said government must come up with workable policies that must be implemented.

 

According to him, NOTAP in collaboration with the World Intellectual Property (WIPO), Central Bank of Nigeria and other stakeholders, had developed the Local Vendor Policy in 2007, to strategically engage local ICT firms on the implementation of foreign software agreements in Nigeria.

 

The policy, which came into effect in 2008 states that the Annual Technical Support (ATS) fee should not be made more than 23 per cent of the Software License fee.

 

The payment of ATS should commence one year after the implementation of the Software license agreement.

 

A local vendor must be appointed to be involved in the implementation of a Software License agreement submitted to NOTAP and must be paid a minimum of 40 per cent of the ATS fee in Naira.

 

According to Ibrahim, in the event of renewing the agreement after one year, evidence of payment of 40 per cent ATS fee must also be submitted to NOTAP.


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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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Nigerian Terra Industries Secures $11.8m for Expansion

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Terra Industries, a Nigerian defence technology startup, has raised $11.75 million to expand its development of defensive systems that protect critical facilities across Africa.

The fundraising round was led by Silicon Valley venture firm 8VC, which was founded by Palantir co-founder Joe Lonsdale.

Other investors in the round include Valour Equity Partners, Lux Capital, SV Angel, and Nova Global, as well as African-focused funds Tofino Capital, Kaleo Ventures, and DFS Lab.

Terra Industries, founded in Abuja by Nathan Nwachuku and Maxwell Maduka, provides multi-domain security solutions for both air and land. Its solutions are intended to detect and respond to threats including terrorism, sabotage, and armed attacks on infrastructure.

The company’s product portfolio includes surveillance drones, ground-based robotic systems, and fixed monitoring towers deployed around sensitive locations.

Co-founder and CEO Nathan Nwachuku said the company has now fully embraced its identity as a defence-focused startup, citing the growing urgency of security challenges across Africa.

He said safeguarding critical infrastructure from terrorist threats has become unavoidable.

Nwachuku argues that protecting Africa’s infrastructure requires a different approach, one that combines local manufacturing, end-to-end system control, and software capable of independently identifying and responding to threats over large areas.

The company aims to position itself as a defence prime, similar to the role played by firms such as Anduril Industries and Palantir in the United States.

Nwachuku also disclosed that the company had earlier raised $800,000 in pre-seed funding.

With the new funding, Terra plans to increase manufacturing capacity within Africa, establish additional defence production facilities, and expand its artificial intelligence and software teams.

While software offices are planned for San Francisco and London, the company said manufacturing operations will remain on the continent.

 


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