News
Pension Fund Assets Hit N8.6trn – Dahir-Umar

The National Pension Commission (PenCom) says total pension fund assets have grown to N8.63 trillion as at December 2018.
Ms Aisha Dahir-Umar, its Acting Director-General, disclosed this at the public hearing of the House of Representatives Ad-hoc Committee in Abuja on Thursday.
The committee is mandated to investigate activities of PenCom and alleged violation of Acts establishing it.
Dahir-Umar said the fund had an average monthly contribution of N29.15 billion, while the total pension assets were equivalent to 7.40 per cent of the Nigerian rebased GDP.
She said that the pool of pension funds generated by the Contributory Pension Scheme had aided the deepening of Nigeria’s financial sector.
The PenCom boss said that the fund had also provided a platform for attaining strategic programmes of government in the areas of infrastructure, housing and the development of the real sector of the economy.
She said that the number of registered contributors grew to 8.41 million as at December 2018.
According to her, this figure represents about 12.09 per cent of Nigeria’s working population and 4.29 per cent of total Nigeria population.
She said that the Contributory Pension Scheme (CPS) had simplified the process of payment of retirement benefits through the issuance of effective regulations and guidelines for accessing such benefits.
Dahir-Umar also disclosed that 260,808 persons had retired under the Scheme as at December 2018 and were currently receiving pensions as and when due with an average monthly pension payment of N10.18 billion.
“The pension reform has gained public confidence and acceptability within the short period of its implementation.
“The private sector, which hitherto was apprehensive of the CPS as a ploy by the public sector to raise funds to address its huge pension liabilities, has come to accept and is religiously implementing the reform.
“To date, about 200,000 private sector employers of labour are implementing the CPS and have contributed about 60 per cent of the total pension fund assets.
“The Contributory Pension Scheme has also introduced transparency and integrity in the pension administration system in Nigeria and inception of the reform to date, there had not been a single incidence of fraud or mismanagement of the pension funds and assets under the Scheme.
“Attracted by the enormous benefits of the Scheme, 24 States of the Federation and the FCT had enacted the laws on the CPS and are at different stages of implementation, six States are at the Bill stage on the CPS, three states have adopted the Contributory Defined Benefit Scheme (CDBS).
“And two states are currently drafting Bills to introduce CDBS, while one state has continued with the Defined Scheme as at December, 2018,” she said.
The PenCom boss said that Pension Transitional Arrangement Directorate (PTAD) was established to handle issues of Federal Government’s retirees exempted from the CPS subject to the regulation and supervision of PenCom.
“Indeed, payment of pensions to public sector retirees by PTAD has become more regular and efficient under the supervisory oversight of PenCom.
“The pension reform has also positively impacted on other sectors of the Nigerian economy. Notably, the reform facilitated the growth of Group Life Insurance and development of Life Annuity in the insurance industry.
“Indeed, monthly pension payment under the Life Annuity Scheme has average of N3.15 billion as at December 2018.
“It is also noteworthy that the total premium paid to insurance companies for the monthly Life Annuity was N304.09 billion as at December, 2018.
“This has significantly assisted the growth of the insurance industry in Nigeria which is a special focus area under the Federal Government’s Economic Recovery and Growth Plan (ERGP),” she said.
News
Nearly 90% of Organizations Prefer Outsourced or Hybrid Models for their SOC

Most companies choose to outsource at least part of their Security Operations Center (SOC), with a significant number adopting SOC-as-a-Service (SOCaaS), according to global research by Kaspersky.

This strategic move enables organisations to benefit from round-the-clock protection, ensure compliance with regulatory standards and leverage advanced cybersecurity solutions and qualified expertise that are often beyond their internal capabilities.
As cyberthreats become increasingly sophisticated, organisations are rethinking how they build and operate their Security Operations Centers. With this in mind, Kaspersky carried out a comprehensive global survey to identify the main motivations, strategic goals, and potential challenges associated with its planning and implementation¹.
The findings of this research revealed that 64% of companies plan to outsource part of their SOC, combining internal capabilities with external expertise.
Meanwhile, over a quarter of respondents (26%) are ready to fully implement an SOC-as-a-Service (SOCaaS) model. By contrast, only 9% plan to build their SOC entirely in-house, highlighting the growing challenges of maintaining round-the-clock monitoring and attracting qualified specialists.
SOC outsourcing enables organisations to delegate selected SOC functions or even the entire operational cycle to a trusted external provider. This approach can include a variety of services:
Design and architecture of the SOC.
Deployment and maintenance of SOC technologies.
Monitoring and analysis by external security analysts.
Consulting and training services.
Full SOCaaS delivery, where the provider handles detection, investigation and response around the clock.
Most companies prefer maintaining strategic tasks internally, whilst leveraging external teams and advanced technologies for operational and highly technical workloads. Among organisations planning to outsource SOC functions, the most commonly delegated tasks to third-party providers included solution installation and deployment (55%), solution development and provisioning (53%), and SOC design (47%).
When engaging external SOC specialists, companies also showed a clear preference for augmenting specific roles, with first-line analysts (61%) and second-line analysts (52%) being the most in-demand among external specialists. These figures illustrate that companies focus more on frontline and intermediate security tasks, such as monitoring and responding to threats.
Why do organisations choose SOC outsourcing?
The leading motivator for SOC outsourcing is the need for 24/7 protection (55%) – an operational requirement many internal teams cannot sustain alone. Another highly cited benefit is reducing workload on internal IT security specialists (47%), enabling teams to focus on strategic tasks.
Additionally, access to advanced solutions and technologies (42%) and external support to ensure compliance with regulatory requirements and standards (41%) further drive the decision to outsource, highlighting the value of specialised expertise and cutting-edge tools such as XDR, MDR, MXDR and others.
Budget optimisation is important for only 37% of companies – indicating that the primary value of outsourcing lies in improved protection, not just cost savings.
“The trend towards outsourcing SOC functions, whether fully or partially, is primarily driven by the necessity for enhanced operational focus and strategic agility. By shifting routine and technical tasks externally, organisations are able to concentrate on high-value activities such as strategic decision-making and orchestrating responses to sophisticated threats.
“Moreover, this approach often results in considerable cost efficiencies, allowing for optimised resource allocation. Ultimately, this model transforms the SOC into a critical strategic capability, directly contributing to business continuity,” comments Sergey Soldatov, Head of Security Operations Center at Kaspersky.
News
DHQ Indicts Brigadier General Abubakar Sadiq, 15 Others in Alleged Coup Plot againt Tinubu

Defence Headquarters (DHQ) has made public the full names of 16 officers of the Armed Forces of Nigeria indicted by a Special Investigative Panel over alleged serious misconduct, including an alleged coup plot against President Bola Tinubu.

The officers suspected to be involved in the coup plot include a brigadier general, a colonel, four lieutenant colonels, five majors, two captains, a lieutenant, a lieutenant commander and a Squandron Leader.
Major General Samaila Uba, director of Defence Information, disclosed this on Monday, stating that the panel had concluded its investigation and established that the affected officers had cases to answer.
According to him, the indicted officers will face a military Court Martial in line with established procedures and existing regulations.
Major Gen. Uba said the probe examined the circumstances surrounding the conduct of the officers and identified actions “inconsistent with the ethics, values and professional standards expected of members of the Armed Forces of Nigeria.”
He stressed that the exercise was purely disciplinary and aimed at preserving internal discipline, cohesion and operational effectiveness, adding that the Armed Forces remain loyal to the Constitution and Nigeria’s democratic order.
- Brigadier General Musa Abubakar Sadiq (Nasarawa, 44th Regular Course)
- Colonel M. A. Ma’aji (Niger, 47th Regular Course)
- Lieutenant Colonel S. Bappah (Bauchi, 56th Regular Course)
- Lieutenant Colonel A. A. Hayatu (Kaduna, 56th Regular Course)
- Lieutenant Colonel Dangnan (Plateau, 56th Regular Course)
- Lieutenant Colonel M. Almakura (Nasarawa, 56th Regular Course)
- Major A. J. Ibrahim (Gombe, 56th Regular Course)
- Major M. M. Jiddah (Katsina, 56th Regular Course)
- Major M. A. Usman (Federal Capital Territory, 60th Regular Course)
- Major D. Yusuf (Gombe, 59th Regular Course)
- Major I. Dauda (Jigawa, DSSC 38)
- Captain I. Bello (DSSC 43)
- Captain A. A. Yusuf
- Lieutenant S. S. Felix (DSSC)
- Lieutenant Commander D. B. Abdullahi (Nigerian Navy)
- Squadron Leader S. B. Adamu (Nigerian Air Force)
News
Court Fines Airtel N210m for Unauthorised Use of ‘Nigeria Go Survive’ Song

Justice Ibrahim Ahmad Kala of the Federal High Court, Lagos, on Monday awarded a total of N210 million in damages against Airtel Networks Limited for copyright infringement arising from the unauthorised use of a musical work titled “Nigeria Go Survive.”

The award comprises N200 million as general damages and N10 million as costs.
In addition to the monetary award, the court issued mandatory and perpetual injunctions restraining Airtel, its management, agents, servants, privies, successors-in-title and assigns from reproducing or further using the musical work, or any substantial part of it, for advertising, promotion, telemarketing, or other business purposes without the licence or authorisation of the copyright owner.
Justice Kala specifically ordered Airtel to remove “Nigeria Go Survive” from its list of songs used for advertising, business, telemarketing and promotional purposes across its network with immediate effect.
The judge held that Airtel’s use of the song without licence or authorisation amounted to restricted acts under the Copyright Act and constituted an infringement of the plaintiff’s copyright.
The judgment was delivered in suit No: FHC/L/CS/1822/2022, filed by Veno Marioghae Mbanefo, producer of the song.
In resolving the sole issue for determination, the court held that the plaintiff proved her case on the balance of probabilities.
Justice Kala noted that a perpetual injunction is granted after infringement has been established and is intended to protect the proprietary rights of the copyright owner and restrain continued infringement.
Accordingly, the court made the following orders: “That Airtel’s unauthorised use of “Nigeria Go Survive” for advertising, promotion and telemarketing amounts to copyright infringement.
“Mandatory injunction prohibiting Airtel from reproducing or using the musical work, or any substantial part of it, for business and promotional purposes.
“Perpetual injunction restraining Airtel from any further unauthorised use of the work.
“General damages N200 million awarded to the plaintiff for losses suffered as a result of the infringement. And N10 million awarded in favour of the plaintiff, considering the duration of the case, legal representation, expenses incurred, and the current value of the naira.
In the writ of summons filed by her legal team led by Clement Onwvenwunor, SAN, the plaintiff sought, among other reliefs, declarations that Airtel’s use of the song without attribution, licence or authorisation breached her statutory rights under Section 12 of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.
She also claimed substantial damages for copyright infringement and, in the alternative, requested an order directing Airtel to render an account of profits allegedly made from the infringement under the supervision of the Nigerian Communications Commission (NCC).
Airtel Networks Limited, represented by counsel led by Babatunde Amoo, urged the court to dismiss the suit.
However, after reviewing the exhibits and submissions of counsel, Justice Kala resolved all issues in favour of the plaintiff.
The court refused the plaintiff’s alternative prayer for an account of profits but granted all substantive reliefs relating to infringement, damages and injunctive orders.
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