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NITDA Partners with NAICOM to Institutionalise Cyber Insurance

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National Information Technology Development Agency (NITDA) is exploring partnership and collaboration with the National Insurance Commission (NAICOM) on how to institutionalise Cyber Security Insurance in the country.
Kashifu Inuwa Abdullahi, director-general of NITDA who led the Agency’s management team to the Commission on a courtesy visit reiterated the fact that the insurance cover is long overdue, especially as it is virtually impossible for any business to operate without connecting to the internet.
According to Inuwa, almost every adult in Nigeria move around with “a super computer in his/her hand or pockets”, which invariably exposes one to cybercrimes and criminals.
While quoting some reports that the global cyber crime as of 2021 was almost $6TR and projected to grow by 15% year-on-year, the DG said that as of today the figures have increased to about $8TR and will reach $10.5 TR by 2025.
“Cyber crime, if you can quantify it as a nation, will be the third largest economy, and it is bigger than all crimes combined together, in terms of cost”.
“In view of this, we need to institutionalise Cyber Insurance because Nigeria loses about N200B to cyber crime anually, imagine that just 0.0% of the Nation’s Gross Domestic Product (GDP) is worth more than N200B”, Inuwa noted.
Inuwa said “looking at this and the rate services are being digitised, coupled with the push for government digital services as well as COVID-19, the pace we are digitising has been accelerated; the future is therefore arriving faster than expected”.
The DG who emphasised the importance of securing the Insurance, averred that whereas, the commission has the primary mandate of insurance, the Agency also has certain mandates relating to cyber insurance, including development of Information Technology in Nigeria which Cyber Security is an integral part.
The NITDA Boss expressed the hope that once the insurance is gotten, the country will be well positioned to mitigate the recurring losses and the ecosystem as well as the quality of systems in Nigeria will be strengthened and upgraded respectively.
“Achieving this feat will also translate to strengthening developers of systems to up their game, by taking it through series of tests before taking their products to the market”.
“Many countries have institutionalised cyber insurance, Africa inclusive; South Africa, Kenya and Egypt have done so. Looking at our status in Africa as the largest economy and having the most vibrant digital ecosystem as well as the fastest growing digital economy, I think it is the right time for us also to institutionalise Cyber Insurance in Nigeria”, the DG maintained.
The Commissioner for Insurance/Chief Executive Officer of the National Insurance Commission (NAICOM), Olorundare Sunday Thomas who gave a nod to the proposal brought forward by the NITDA DG, noted that he has always been talking to relevant stakeholders to look at the positive side of risks associated with technology.
“Looking at the volume of data that are driven daily, cost associated with data, magnitude and impact of the economy of nations, if there should be any economy that should be more concerned about cybercrime, it should be Nigeria”.
“The more we look forward to using technology to resolve many problems, we must also seize the opportunity to increase our workforce”, Thomas added.
The CFI assured the NITDA team of the Commission’s readiness to partner with the Agency towards institutionalising cyber insurance.
Both teams were unanimous in hitting the ground running as they agreed to create a committee of six members, three from each organisation to ascertain the modus operandi and fashion out the terms of reference.

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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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WhatsApp to Deactivate Support for Certain Phone Models over Incompatibility

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WhatsApp has announced that it will no longer be supported on a variety of phone models starting from the summer of 2024.


WhatsApp to Deactivate Support for Certain Phone Models over Incompatibility

This decision affects a significant number of devices from popular brands such as Samsung, Motorola, Huawei, Apple, Sony, and LG.

Users are advised to check the list of incompatible devices to determine whether their phones are affected and whether they need to upgrade to continue using WhatsApp securely.

Surprisingly, some of the models on the list are quite old, but due to their decent hardware or lack of upgrade options, some users have been clinging onto WhatsApp for dear life.

At present, WhatsApp is recommending that users only use the app if they have a device running on Android 5.0 or later, or an iPhone with iOS 12 or newer.

The affected models include popular devices like Samsung Galaxy Ace Plus, Motorola Moto G, and various iPhone models like 5, 6, and SE.

This development highlights the rapid evolution of technology and the need for users to stay current with their devices to access essential services like WhatsApp.

As we move towards a more advanced digital age, it becomes increasingly crucial for users to regularly check for updates and ensure compatibility with the latest software and applications.

In light of WhatsApp’s decision to discontinue support for certain phone models, there are several key points that users should be aware of regarding this future incompatibility issue.

One of the main challenges associated with WhatsApp ceasing support for older phone models is the potential security risks involved.

Unsupported devices may become more vulnerable to security threats as they will no longer receive essential updates and patches from WhatsApp.

Additionally, users who are unable or unwilling to upgrade their devices may face difficulties in communicating with friends and family who continue to use WhatsApp.

On the controversial side, some users argue that tech companies should provide support for older devices to ensure inclusivity and accessibility for all users, regardless of their device’s age or specifications.

However, from WhatsApp’s perspective, maintaining support for outdated models may hinder the app’s ability to innovate and introduce new features that require more advanced hardware.


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Glo Deploys AI Services for Customers to Earn Millions while Learning

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Digital solutions services provider, Globacom, has unveiled three innovative AI-focused services that aim to improve customer satisfaction and provide users the chance to profit from AI and win rewards on the network at the same time.

In addition to offering users the possibility to win thrilling rewards through lottery draws, Globacom disclosed in a press statement that the services would offer priceless insights into utilizing AI for everyday requirements.

One of the services, called “Glo Awoof Win EverWage,” is a gaming platform that gives users the chance to either win a lifetime wage or take part in a monthly draw that offers a N12 million prize.

Subscribers will also get regular payments from this service, thus having a steady source of income free from the limitations of a conventional job. Globacom stated that Glo EverWage “promises peace of mind in today’s dynamic economic environment, whether you seek supplementary income or financial stability.”

Subscribers can participate in the drawings for EverWage by calling *20791# and following the instructions to be eligible for a chance to win N12 million per month and daily cash prizes.

In a similar vein, “Glo Awoof Win SMS-to-Ai” uses artificial intelligence (AI) to give users rapid, precise information on any subject without requiring an internet connection.

The “Ask AI by Glo” service is an SMS-based platform that provides users with access to a variety of informational resources, including news, sports scores, weather predictions, traffic updates, educational advice, and celebrity information. By dialing *20791# on their handsets, subscribers can also take part in the network’s jackpot draws for a chance to win thrilling prizes.

Subscribers can also use Glo SMS-to-AI to ask queries even in the absence of internet access, by texting their inquiries to 20791 and the AI platform will respond to them right away. Regular questioners will be informed through their Glo lines and have a chance to win interesting rewards.

The third one, “Glo Awoof Win Ai Fortune”, is an educational service designed to empower users by teaching them how to leverage Ai for generating income and improving business processes.

“From foundational Ai concepts to advanced business strategies, our comprehensive curriculum equips you with the skills to harness Ai for income generation and business enhancement. Subscribers can engage in interactive learning modules, earn certifications, and showcase their expertise in monthly competitions”, the company disclosed.

Subscribers to AI Fortune can obtain study packets to read and enter to win prizes by dialling *20791# and following the instructions.

According to Globacom, users who want to take advantage of the three AI-powered services should dial *20791# on their mobile devices in order to choose among the available options. Daily one-time or auto subscriptions to the services cost N100, weekly one-time or auto subscriptions cost N200, and monthly one-time or auto subscriptions cost N500.


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Y’ello Care since ‘07: 17 Years of Unwavering Commitment to Community Development

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For nearly two decades, MTN has demonstrated a steadfast dedication to community development through its flagship corporate social responsibility initiative, Y’ello Care.

The annual program with the theme “Learn Today, Lead Tomorrow”, now celebrating its 17th year, exemplifies the telco’s commitment to making a positive impact across the various communities it serves.

Launched in 2007, Y’ello Care has evolved into one of the most significant corporate volunteer programs in the telecommunications sector. Each year, employees take time off from their daily tasks to give back to the community and participate in meaningful charitable initiatives, reflecting the company’s fundamental principles of innovation, leadership, and integrity.

The heart of Y’ello Care lies in its volunteers. MTN employees from different departments and regions come together to contribute their time, skills, and resources. This culture of volunteerism not only benefits the communities but also fosters a sense of purpose and camaraderie among its staff.

Since its inception, the Y’ello Care initiative has tackled various social challenges, from education and health to environmental sustainability and economic empowerment. The program’s success is measured by the number of projects completed and the lasting positive changes it brings to the lives of individuals and communities.

Speaking about this year’s edition, Tobe Okigbo, Chief Corporate Services & Sustainability Officer, MTN Nigeria, said “Y’ello Care is about the MTN ecosystem giving back and contributing their time, money, and resources to make a positive impact. This year, we’re focusing on education in remote areas, supporting three projects that will provide access to quality education for young Nigerians,” said

One of the cornerstones of Y’ello Care this year is its focus on education and this year the initiative is supporting the KNOSK charity education initiative (Study Better Packs),building and refurbishing Iwerekun Community High school, providing learning materials, and organizing vocational skills workshops. These efforts aim at bridging the educational gap and equipping students with the skills needed for the future.

Also, Y’ello Care has made significant contributions to improving healthcare services. Through medical outreach programs, health awareness campaigns, and the provision of essential medical equipment, it has helped enhance the quality of healthcare in underserved areas.

Beyond everything,

As Y’ello Care completesits 17th year, the company further proves its committment to deepening its impact on its community. MTN Nigeria’s unwavering commitment to community development through the Y’ello Care initiative is a testament to the power of corporate social responsibility.

The 17-year journey of Y’ello Care tells a remarkable story of dedication, impact, and hope. It serves as an inspiration for other organizations to engage in meaningful community service and underscores the importance of giving back to the society in which they operate.

 

 

 


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