General News
Nigeria is Ripe for Institute of Cybercrime Monitoring-Uwaje
Dr. Chris Uwaje, is president of Global Network for Cyber Solutions (Organisers of the Conference) and first vice president of the Institute of Software Practitioners of Nigeria (ISPON). He is also managing director of Connect technologies Limited. A valuable asset to the ICT industry, Uwaje is a well sought after speaker globally and consults for the federal government on a number of projects. Uwaje spoke to chike Onwuegbuchi
Cybersecurity Summit
First, let me congratulate Nigeria CommunicationsWeek for coming out with a very educative and informative concept in what I would call ‘technology reporting,’ which has been missing over the last decade. What we have around generally is regular reporters and they cannot be blamed because they have not being exposed to technology reporting skills. That is why I want to congratulate you for being different. Now, to your question about what informed the cybersecurity conference or my initiative with respect to involvement in cybersecurity; it dates back to 1999. Consequently, with my project leader initiative as a consultant for the First Bank Nigeria PLC, as a software engineer, I saw a lot of vulnerabilities in the daily operations and when I had the opportunity in year 2000 to pioneer the National Policy Transformation of Technology, I was privileged to have incorporated cyber police units as far back as 7 years ago. The issue of cybersecurity that has now taken centre stage globally – it is not just about the security content but it is about the sovereignty of the community of people.
That is why the issue of cybersecurity is very important. As we speak, I am dealing with a cybersecurity issue here; I have been communicating with some cyber criminals who are posing as a friend of mine. They say he is stranded in a 5 Star hotel somewhere outside Nigeria and has lost his international passport and need some money, I have been trying to make them give me a bank account number where l will make the payment but they have insisted that I send the money through Western Union Money Transfer. This communication started about 2 weeks ago; these miscreants hijacked the email of one of my friends. What they do is send a message saying that your Yahoo! account is being reconstructed and you should renew your identity and password. Once you do that, they hijack that mail box and you cannot have access to it anymore. Now they begin to operate with that mail box and some people fall prey to their schemes. This is about technology and Nigeria has what is called technophobia syndrome. Nigerians are very shy of technology; it is not their faults because Science and Technology has been on the downturn. If it had been upground, the issues we are facing today would not have been strange. So, there is need to involve Science and Technology contents in our everyday lives.
It is very important to ensure that Nigerians understand what technology is. Nigerians have created a fallacy of technology definition; it is not just computing, aeronautics, automobile, electronics; these are the products of technology. Technology is the concept and process that creates the product; so we should concentrate on the core content of technology. But we neglect the process and go for the product only and that is why about 80% of what Nigerians consume is imported, and with such a scenario, it shows that we are not creative entities.
Fighting Cyber Criminals
The issue really is that there are two ways Nigeria can get herself set. One of the ways is the institution of critical infrastructure and of course, massive capacity building for knowledge workers and ‘code warriors.’ For Nigeria to be prepared in terms of dealing with the cyber criminality of the world it needs to produce a reserved pool of nothing less than 1 million code warriors from our tertiary institutions, secondary and primary schools, as well as industry. Because e-Government has to be protected, businesses have to be protected; even our cultures have to be protected. What we are witnessing today is no different than what our ancestors witnessed about 500 years ago. Technology has the centre stage today. Some people believe that Slave Trade is just about the ship, the cargo and the Whiteman. That is not so. What is at the centre of Globalization, which is Slave Trade 500 years ago, is the compass – the face of technology. Ideally, without the compass, those sailors of that time would not have ventured into the seas. So, the centre of globalization has always been technology. Indeed, technology is another word for the internationalization of trade and commerce. So, the cell phone of today has security content for Nigerians; the computer of today has security content for Nigerians; the Internet of today has greater security content for Nigerians; and there is going to be more ferocious attacks on this sub-region. We learnt that during the time of the 9/11 attacks, Al-Qaeda used some of the IP addresses within Nigeria to wreak some havoc. So, we should be prepared. It is important and paramount – above all, professionals should be put in place to engage these cyber criminals that are almost ruining us.
If Nigeria knows IP and cybersecurity issues, they should domicile them at the footstep of the professionals in the CPN, the NCS and Atcon. These are people who have been trained in the area of informatics and information technology development; they should be the experts advising Government. How can we have a nation that does not have an IT adviser to the president? And you want to safeguard your country from digital attack. There must be a special assistant to the office of Mr. President, who would be a senior adviser on information technology. These are the things that need to be put in place in the Federal Republic of Nigeria, which is very strategically imperative that we need to do as fast as we can. There is no reason why we should not have an Institute of Cybercrime Monitoring; there is no reason why we cannot have Cyber Engineering in our institutions; there is no reason why we should not inculcate the cybersecurity curriculum from primary school upwards. Just the same way we used to have the civic lessons of the old, cybersecurity and cybercrime can be introduced at the primary and secondary schools levels.
Local Software and Patronage
I have spoken about technophobia. First, let me point out the difference between indigenous software and local software. The former are those that are developed and politically managed and supported by Nigerians, for Nigerians without the transfer of foreign exchange. Whereas foreign software is one hundred percent transfer of our local currency, in other words, this transfer does not have the potential of capacity building. We are creating jobs and labour for other people externally. It is the duty of every nation to protect its indigenous software. I can put it to you that there is no software that is developed for external use; they are developed for resolution of the challenges in the immediate environment. It is technophobia and a fallacy to say that foreign software is better than indigenous one. It is sheer ignorance and a lot of people do not understand software because it is an intangible thing that one cannot see. But they buy computer; now they are saturated with hardware and they then see that the hardware itself has not solved their problems and they are still where they are. There is a difference between computerization and automation. They must automate and that is when the software starts to drive them. When we say foreign software, we are talking about application software and services; not system software because that is still far away. There are lots of services that Nigerians can render as outsourcing entities to fellow Nigerians and other African countries, much better than people from elsewhere. An example is our payroll – our payroll was based on our state and national structure and foreigners from India and the U.K are finding it difficult to sell payroll here because their own structure had informed the development of their software. They were developing for their region. Digital colonies would be built this century and the way they are going to build it is to take control of the software engines that run the lives of the entire people of a community, nation or sub-region. That is why we are passionate when we say that ISPAN needs grants – Government grants, individual grants, if you take say, ten companies today and tell them to give us a software that can run in Nigerian banks in about six years from now, I can assure you that that can be done. That is what other countries do; they create what is called ‘failed projects’ in software development and when these projects are done, people learn from them because they can always experiment. We shy away from research and development in software because nobody is ready to invest. It is high time our Governments understand the imperative of indigenous software and also know that Nigerians are capable of producing world-class software.
In fact, a lot of Nigerians are working in laboratories abroad. If they can do that there, why can they not do same here? ISPAN has been campaigning and of course, it has yielded a little result by ensuring that we created IT departments in the ministries as a pilot. We have gotten a circular from the last regime that indigenous software should be considered before any foreign one for use within government departments. We have an agreement with Government that 50% of the cost of every foreign software imported into this country should be charged as a tariff to check their influx into the country. There is a lot of software – the core banking applications, among others, that have failed in this country. Nobody talks about them and Nigeria is losing money. The cost of these failed software is enough to build software institutes, is enough to provide superlative employment for software code warriors all over the country.
General News
IMF Warns Nigeria of Risks in $5Bn Swap Deal with First Abu Dhabi Bank

The IMF on Tuesday warned of risks surrounding Nigeria’s plan to borrow up to $5 billion through a derivatives agreement with First Abu Dhabi Bank, saying such transactions are often opaque and complex.

Recall that the Senate in April gave its approval to the agreement, joining other Africa borrowers like Senegal and Angola who have tapped similar arrangements over the past year.
“Our view is that the transaction in these types of structures carry risks. Usually they are opaque so the terms are not always very transparent when we reviewed these instruments across countries,” Christian Ebeke, IMF resident representative in Nigeria, told reporters.
Ebeke said Nigeria could instead issue eurobonds to finance its deficits or other means to raise funding, including on concessional terms.
Nigeria intends to use proceeds from the total return swap, or TRS, to refinance expensive debt and pay for infrastructure.
In its latest Article IV review, the Fund praised Nigeria’s sweeping reforms, saying they had strengthened economic stability and investor confidence, but warned that the benefits had yet to reach millions of citizens and could be undermined by global shocks, including the Middle East conflict.
The reforms since 2023 under President Bola Tinubu – including fuel subsidy removal, tighter monetary policy and exchange rate liberalisation – had rebuilt buffers and improved macroeconomic management, the IMF said.
However, it cautioned that the reforms were also contributing to social strain, with poverty levels at 63% and millions facing food insecurity, underscoring a widening gap between macro gains and household realities.
The IMF said improved policy credibility and forex reforms had helped Nigeria regain access to international capital markets and attract portfolio inflows, while reducing risk premiums. The central bank says gross reserves are at $50 billion, the highest in 17 years.
But reliance on volatile foreign portfolio investment poses rollover risks, the IMF said, urging a shift towards more stable, long-term capital such as foreign direct investment.
General News
SSDC Warns Businesses against Cyber, Election-Related Risks

Security Skills Development Company (SSDC) has released its 2026 Security Outlook, highlighting four major security challenges expected to shape Nigeria’s business and operating environment as the country moves closer to the 2027 general election.

The report, developed from a nationwide survey and expert contributions at the recently concluded Security Thought Leadership Roundtable, identifies internal security threats, protection of national assets, cyber risks and election-related instability as the most significant concerns facing organisations and institutions in the coming year.
According to SSDC, findings from the survey and stakeholder discussions reveal growing concern over the increasing complexity of security challenges and their potential impact on business continuity, economic stability and public confidence.
A substantial number of respondents identified internal threats within organisations as an emerging risk, pointing to the need for stronger corporate governance, workforce integrity measures and structured risk management systems.
Security experts at the roundtable noted that weaknesses in critical public infrastructure and national assets could have far-reaching consequences for the economy and national development if not adequately addressed.
The report also highlights cybercrime as a persistent and evolving threat to both public and private sector institutions.
Participants stressed the importance of strengthening cyber resilience through proactive monitoring, investment in technology-driven safeguards and improved security awareness.
Another key concern raised in the outlook is what SSDC described as the “2027 Election Shadow.” Many respondents expressed concerns about the possibility of heightened political tension as the election season approaches, warning that uncertainty and security disruptions could affect business operations, investment decisions and overall economic confidence.
Speaking on the report’s findings, Mike Igbodipe, managing director, SSDC, called for a more strategic approach to security management across both public and private sectors.
He said organisations must move beyond reactive security measures and integrate security considerations into their broader strategic planning and decision-making processes. He also advocated the development of a gold-standard, locally certified training programme for security professionals tailored to Nigeria’s unique security environment.
SSDC, a security training and consulting firm focused on advancing professional standards in Nigeria’s security sector and strengthening industrial resilience through capacity building and strategic expertise, said the Security Outlook forms part of its ongoing thought leadership initiative aimed at promoting informed dialogue on national security, institutional resilience and risk management.
The company reaffirmed its commitment to supporting stakeholders through research, training and strategic advisory services designed to improve preparedness and response to emerging security challenges.
General News
Moniepoint DreamDevs Bootcamp Graduates Second Cohort to Strengthen Homegrown Talent Pipeline

Moniepoint Inc., Africa’s leading digital financial services provider, has officially graduated the second cohort of its flagship DreamDevs Bootcamp, marking a significant milestone in the company’s ongoing effort to build world-class engineering talent from the ground up.

The graduation was celebrated at a Demo Day event held in Lagos, themed “Training Done! Demo Up!”, where participants presented capstone projects built to real-world engineering standards.
The graduation comes at a crucial time for Africa’s tech ecosystem. Although Nigeria’s tech talent is growing, it isn’t sufficient, especially at the mid-to-senior engineering level, where demand far exceeds supply. By 2030, the global shortage of software developers could reach 85 million, leading to economic losses of $5.5 trillion. For a continent developing its digital infrastructure, this is critical. Moniepoint’s DreamDevs Bootcamp is a strategic response to these challenges.
The nine-week curriculum, created by Moniepoint’s Engineering Unit in partnership with Semicolon, covered Java Object-Oriented Programming, Data Structures and Algorithms, Software Testing, MySQL, Spring Boot APIs, System Design, Docker, Messaging Queues, Frontend UI, and Cloud Infrastructure. Participants received programme stipends and mentorship from experienced Moniepoint software engineers, gaining valuable exposure to the production environment of one of Africa’s fastest-growing fintech firms.
During the Demo Day presentation, the participants paired into 9 teams were excited to showcase how they have deployed knowledge and skills gained during the course of the bootcamp into real and useful solutions in real estate, hospital management, event management, food and agriculture.
Commenting, Felix Ike, Co-Founder and Chief Technology Officer of Moniepoint, said, “DreamDevs is a structural investment in Nigeria’s digital economy, not a recruitment exercise, not a pipeline built solely to serve Moniepoint’s hiring needs. That said, we are proud that some graduates from our first cohort are already active members of our engineering team, proof that when young African engineers are given the right training and the right environment, they can compete at the highest level”.
Felix added that “Engineering excellence is not a naturally occurring phenomenon. It is a curated and intentionally built process that requires the right systems, the right resources, and sufficient time to take hold. Building that process and making it accessible to the brightest young engineers on this continent is a responsibility we have chosen to own.
Africa’s digital economy is attracting significant global capital, yet the talent infrastructure required to sustain that growth remains underdeveloped. The DreamDevs Bootcamp and our other capacity-building initiatives across some of Nigeria’s public universities demonstrate Moniepoint’s commitment to this responsibility.
The initiative also aligns with Nigeria’s broader national agenda on technology skills development. Moniepoint serves as a key sponsor of the Federal Government’s 3 Million Technical Talent (3MTT) programme, which focuses on mass technical skills training across the country. While 3MTT addresses the scale challenge, DreamDevs provides depth, offering a specialised, end-to-end pathway from foundational training through to employment within Moniepoint’s complete development ecosystem.
As Nigerian fintechs deepen their infrastructure ambitions, the ability to grow engineering capacity that feeds these aspirations requires an urgent industry intervention, as Moniepoint is demonstrating to address Africa’s engineering talent challenge.
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