E-Business
#nitec2016 To Promote Need For Ethical Hacking In Nigeria

Team Hacking Battles is one of the scheduled interesting side attractions at Nigeria International Technology Exhibition & Conference (NITEC 2016 @nitecevent) holding at the Civic Centre, Ozumba Mbadiwe, Victoria Island between 23rd and 24th of June.
The Organiser intimated that there will be exhibitions of new tech products, team hacking battles and a variety of tech-related games, as well as airtime-winning games using Rafflecopter.com.
Apparently, information technology experts have every reason to be concerned about ‘hacking’ in this environment. Recall, erstwhile President Goodluck Jonathan, in May 2015 signed the cybercrime bill into law. Both individuals and corporations now appreciate the fact, inspite the irregularities in the document, cybercrime is defined and legal consequences are attached to any defiance of this law.
But, Deloitte reported that 2015 was an incredible year for cybersecurity in Nigeria; re-echoed in Federal Government’s seemly hapless cry of estimated annual cost of cybercrime to 0.08 per cent of the country’s Gross Domestic Products (GDP), which represents about N127 billion. President Mohammad Buhari led government do not actually have multiple options with regards how to checkmate this economic sabotage, aside swift implementation of the cyberlaw and re-tooling by way of developing young, talented and cyber-savvy youths to represent our cyber-warriors.
Well, at the start of last year, Deloitte’s annual forecast of Nigeria’s cybersecurity landscape included forecasts that the likelihood of cybersecurity issues were expected to reduce towards the last quarter of the year due to the successful implementation of the Bank Verification Number (BVN) exercise; an initiative powered by the Central Bank of Nigeria (CBN).
As predicted, Chairman of the Nigeria Electronic Fraud Forum (NEFF) who is also Director, Banking and Payment System Department, CBN; Mr. Dipo Fatokun, reported during the forum’s annual dinner that, the loss arising from electronic payment fraud had fallen by 63% and there had been a reduction of 45.98% in attempted online fraud by the end of 2015 as against the beginning of the same year, thanks to the successful implementation of the BVN; a commendable initiative implemented to secure Nigeria’s payment system in 2015.
Nevertheless, Deloitte sported another ‘leprous hand’, because, the 2015 forecast also indicated “higher risk of current and former employees or contractors resorting to cybercrime as a means to maintain their standard of living. During the course of the year, forensic specialists were kept busy (hopefully with pockets full) as several companies had to engage digital forensic specialists to investigate cybercrime perpetrated by various suspects who are largely made up of employees and former employees of the victim organizations”.
In 2015 the national dailies published several screaming headlines on allegations of hacking attempts on the websites of public institutions and political parties. Hope we still recall the reported hack and de-facing of the Independent National Electoral Commission (INEC) website in March 2015 and also that of the Lagos state government in December 2015; the Nigerian Army website and host of others.
We are now been warned by Deloitte perhaps, “2015 segued into 2016 and the cybersecurity journey of hacks, attacks and triumphs still continue”. A country like China trains no less than a hundred high-skilled ethical hackers who join the ‘national defence’ team against external aggressions. Whether we like it or not, international economical and political supremacy battles are shifting to the internet.
The solution lies in developing local hacktivism and recognition of Nigerian Hackers. So, #nitec2016 is in line with the call for “more focus on the growth of local home grown hackers”, where “both ethical and unethical sects will gain more recognition”.
It has not been all bad for Nigeria, as two Nigerian teams represented Africa at the 2015 Global Cyberlympics Finals Competition; a worldwide international hacking competition to increase education and ethics in information security.
Thus, @nitecevent understands the imperative of projecting Nigeria as a hub of the best cyber defense team in Africa, because Western style hack attempts by terrorists will continue to grow in Nigeria and the Africa at large, but local hacktivists should position the ethical players to take it a notch higher to make hack attempts on government and private institution infrastructures a herculean task for both internal and external invaders.
Therefore, there is every need to both private and public sectors and the international technology community give #nitec2016 deserved support in re-engineering the African technological ecosystem for greater impact on the continent’s GDP.
Likewise, through plenary sessions and exhibitions the worth of our technology system will be showcased to thousands of attendees; exhibition booth (2 days); placement of brand logo on event brochure and website; complimentary wifi, place web banners and share branded gifts at booths.
And the renowned speakers will spark deepened conversation and help through up new innovations that will help Nigeria and indeed, Africa, on digitization. See You There!
E-Business
Huawei Unveils AI Computing System to Challenge Nvidia’s Flagship Product

China’s Huawei Technologies unveiled an AI computing system on Saturday that an industry expert said rivals Nvidia’s most advanced product, as the company aims to expand its footprint in the country’s booming AI sector.
The CloudMatrix 384 system made its public debut at the World Artificial Intelligence Conference (WAIC), a three-day event in Shanghai, attracting a large crowd to Huawei’s booth with its showcase of cutting-edge AI innovations.
The system has attracted significant interest from the global AI community since Huawei (HWT.UL) first introduced it in April. Industry analysts see it as a direct challenger to Nvidia’s GB200 NVL72, the most advanced system-level offering currently available from the U.S. chipmaker.
In an April article, Dylan Patel, founder of semiconductor research firm SemiAnalysis, stated that Huawei now possesses AI system capabilities that could surpass those of Nvidia.
Huawei staff at its WAIC booth declined to comment when asked to introduce the CloudMatrix 384 system.
A spokesperson for Huawei did not respond to questions.
Huawei has become widely regarded as China’s most promising domestic supplier of chips essential for AI development, even though the company faces U.S. export restrictions.
Nvidia CEO, Jensen Huang told Bloomberg in May that Huawei had been “moving quite fast” and named the CloudMatrix as an example.
The CloudMatrix 384 system features 384 of Huawei’s latest 910C chips and, according to SemiAnalysis, surpasses Nvidia’s GB200 NVL72 in certain performance metrics, despite the latter using 72 B200 chips.
SemiAnalysis attributes this performance advantage to Huawei’s strong system design, which offsets the lower power of individual chips by leveraging a greater number of them and incorporating system-level innovations.
Huawei describes the system as utilizing a “supernode” architecture that enables ultra-high-speed interconnectivity between chips.
In June, Zhang Pingan, CEO, Huawei Cloud confirmed that the CloudMatrix 384 was already operational on Huawei’s cloud platform.
E-Business
Transcorp Hotels Delivers Stellar H1 Results, Declares Over ₦1Bn Dividend

Transcorp Hotels Plc has delivered a stellar performance in the first half of 2025, recording a 60% year-on-year surge in revenue to ₦47.57 billion, up from ₦29.72 billion in H1 2024. Gross profit climbed 71% to ₦36.21 billion, maintaining a strong 76% margin despite inflation and operational headwinds.
The hospitality giant, a subsidiary of Transnational Corporation Plc, also announced an interim dividend payout of ₦1.024 billion — offering ₦0.10 per 50 kobo ordinary share to shareholders.
In a bold move, the company unveiled Nigeria’s largest corporate venue — the 5,000-seat Transcorp Centre — staking its claim as the new leader in event hospitality. Chairman Emmanuel Nnorom described the results as proof of Transcorp Hotels’ transformative strategies and unwavering investor commitment. MD/CEO Uzo Oshogwe attributed the success to relentless execution and a resilient business model.
Transcorp Hotels, renowned for iconic assets like Transcorp Hilton Abuja and its digital platform Aura, says it isn’t just leading Nigeria’s hospitality sector — it’s redefining excellence across Africa.
E-Business
Microsoft Servers Hacked by Chinese Groups

Chinese “threat actors” have hacked Microsoft’s SharePoint document software servers and targeted the data of the businesses using it, the firm has said.
China state-backed Linen Typhoon and Violet Typhoon as well as China-based Storm-2603 were said to have “exploited vulnerabilities” in on-premises SharePoint servers, the kind used by firms, but not in its cloud-based service.
The US tech giant has released security updates in response and has advised all on-premises SharePoint server customers to install them.
“Investigations into other actors also using these exploits are still ongoing,” Microsoft said in a statement.
The firm said it had “high confidence” the hackers would continue to target systems which have not installed its security updates.
It added that it would update its website blog with more information as its investigation continues.
Microsoft said it had observed attacks in which hackers had sent a request to a SharePoint server “enabling the theft of the key material by threat actors”.
Charles Carmakal, chief technology officer at Mandiant Consulting firm, a division of Google Cloud, told reporter, it was “aware of several victims in several different sectors across a number of global geographies”.
Carmakal said it appeared that governments and businesses that use SharePoint on their sites were the primary target.
A number of adversaries who stole material encoded by cryptography were then able to regain ongoing access to the victims’ SharePoint data, he said.
“This was exploited in a very broad way, very opportunistically before a patch was made available. That’s why this is significant,” Carmakal said.
Carmakal said the “China-nexus actor” was deploying techniques similar to previous campaigns associated with Beijing.
Microsoft said Linen Typhoon had “focused on stealing intellectual property, primarily targeting organizations related to government, defence, strategic planning, and human rights” for 13 years.
It added that Violet Typhoon had been “dedicated to espionage”, primarily targeting former government and military staff, non-governmental organizations, think tanks, higher education, the media, the financial sector and the health sector in the US, Europe, and East Asia.
Meanwhile, Storm-2603 was “assessed with medium confidence to be a China-based threat actor”.
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