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PwC at Workshop Identifies Journalists’ Key Roles in Sectorial Reportage

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PwC at Workshop Identifies Journalists’ Key Roles in Sectorial Reportage  By peter ugwu   The PricewaterhouseCoopers (PwC) network, in recognition of the place of the media, generally and, journalism in particular, in entrenching good governance, sustenance of democracy, and ensuring a conducive climate for investment and economic development, organized a Capability Enhancement Workshop for Journalists in Lagos, last weekend.  Uyi Akpata, country senior partner, Nigeria and Regional Senior partner for PwC W
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The PricewaterhouseCoopers (PwC) network, in recognition of the place of the media, generally and, journalism in particular, in entrenching good governance, sustenance of democracy, and ensuring a conducive climate for investment and economic development, organized a Capability Enhancement Workshop for Journalists in Lagos, last weekend.

Uyi Akpata, country senior partner, Nigeria and Regional Senior partner for PwC West Market Area, said the initiative was in recognition of this indispensable role of the media especially in the areas of finance and business reporting.

The workshop, in its second year, was developed to help financial journalists improve the contribution they make in terms of their reporting and to ensure an in-depth analysis of the subject, he said.

The workshop had a rich outline of topics including Understanding & Reporting the Budget; Economy and Monetary Policy; the Oil & Gas Value Chain and Impact on Crude oil & gas pricing; Governance & Corporate Reporting; ICT as a major advancement tool in Nigerian Media Practice. Business reporting is particularly challenging for journalists because it is an extremely diverse area involving a complex and technical range of issues covering policy, tax, economics, finance, governance as well as financial reporting.

According to Akpata, “We recognise that it takes extreme care and skill to get a business story right, and convey it to the public in a manner that is factually accurate, yet comprehensible and easy to understand. We are therefore partnering with the media to demonstrate our commitment to high-quality journalism in Nigeria”.

Key Take Away from the Workshop

Understanding and Reporting the Budget

According to Taiwo Oyedele, partner, head of Tax & Regulatory Services, PwC, aligned with the school of thought that budget is the second most important document of a country next only to the Constitution.

He defined a budget as “simply a plan of revenue and expenditure over a specified period of time. It provides the framework on which the government’s key policy agenda is built and implemented. Given the federal system of government in Nigeria, detail allocation of revenue and resources across the different tiers of government as well as government departments, ministries and agencies is part of the budgeting process”.

He therefore, said that the budget is an important tool for identifying sources of revenue, allocate the scarce resources in an efficient manner, and ensure effective implementation of the strategic goals that should improve the welfare of the people. “In terms of transparency and accountability, the budget provides a framework to measure the performances of political office holders and for stakeholders and the public in general to demand accountability for the resources of the country. Legal bases and reality check Based on the law, the Constitution requires that there must be a budget.

“Section 81(1) provides that the President shall cause to be prepared and laid before each House of the National Assembly at any time in each financial year estimates of the revenues and expenditure of the Federation for the next following financial year.

“In section 81(2), the heads of expenditure contained in the estimates (other than expenditure charged upon the Consolidated Revenue Fund of the Federation by this Constitution) shall be included in a bill, to be known as an Appropriation Bill (that is, Budget), providing for the issue from the Consolidated Revenue Fund of the sums necessary to meet that expenditure and the appropriation of those sums for the purposes specified therein. The Fiscal Responsibility Act also requires a cash plan and schedule of disbursement within 30 days of enactment of Appropriation Act.

“In addition, quarterly reports are to be prepared within 30 days of the end of each quarter.

“Unfortunately in reality, the budget is usually presented late by the Executive with further delays in debate between the executive and legislature on less important issues bordering on benchmark oil price rather than revenue generation. Also, very little information is provided regarding actual implementation.

“Salient Questions and Food for thought. Certain questions must be addressed for change to happen rather than sustaining the status quo.

“These include: 1. why do we start our budget from a zero base every year? What happens to the unspent amounts from previous years due to budget under-performance?

“3 2. Why do we not subject actual implementation to value for money audit? The question is whether what “it is” is as good as “what could have been”. 3. Should Nigeria continue to depend on crude oil to drive our budget? How do we diversify our source of revenue? 4. How do we ensure that the budget is prepared and approved timely and actually serves its purpose and not just a “tick-the-box” exercise.

Concluding Thoughts

When analysing the budget, journalists must be able to read between the lines. It is often what has not been said that is more important that what was actually said; Learn to connect the dots from one period to another and also with respect to different components even within the same budget. For instance, it will be useful to relate Debt to GDP ratio versus debt service to total revenue; budget deficit and capital expenditure; subsidy and oil benchmark etc and The media needs to track performance and report over the entire period not just during the budgeting process; Tell a story, give statistics, and a balanced perspective.

Also, ensure accuracy of information, do research, speak to experts; Ask the right questions even if they are difficult  and Be creative, give substance -don’t just collate information We hope there will be a positive change in our approach to Budgeting as a nation with significant improvement in level of implementation and ultimately transparency and accountability.

ICT: A Major Advancement Tool in Nigerian Media Practice

Mr. Joseph Iruafemi, business/lead strategist, Web-Fair Solutions and co-director, Founders Institute, urged media practitioners to embrace modern technologies to enhance their performances.

Iruafemi said that with software, virtual newsrooms are possible; where news-gathering and editing are done real-time through collaborative-editing tools, cloud-sources, between the reporter and the editor.

He added that with iReports, news platforms in the country have empowered the people to be part of the news gathering, although authentication of the news credibility has posed greater challenge.

On news dissemination, he said with over 90 million Nigerians having access to the internet, searching for credible news, the onus falls on the professional journalists to harness the opportunity to better their worth, while repositioning the nation in the comity of new world information order (NWIO).

“Is it possible for us to have a website that coverts words to audio, because most young people prefer to listen to audio to reading letters/words. We are in an era of software for micro-contents; where media houses partner the telecoms on additional news contents dissemination. This will help in expanding the horizons of the media and the readership will broaden,” he suggested.

He further urged the participants not to allow the social media to wrestle the pen from their hands, adding that authentication of reports and analytical reports would always endear the conventional media to the readers’ heart.


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CISA Asks NDPC, Police to Act on Alleged Data Breach by NIPSS

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Citizens Initiative for Safety Awareness (CISA), advocacy group focused on security, data protection, and counter-terrorism, has urged the Nigeria Data Protection Commission (NDPC) to provide an update on a petition alleging a cybersecurity breach and unlawful access to private communications involving officials of the National Institute for Policy and Strategic Studies (NIPSS).

CISA Asks NDPC, Police to Act on Alleged Data Breach by NIPSS

Mr Chidi Omeje, national coordinator, in a letter dated April 10, 2026, observed no response from the commission so far.

Filed on July 1, 2025, by Mr Yushau A. Shuaib, the petition claims unauthorised access, interception, and use of private digital correspondence belonging to him and PRNigeria, his company.

The complaint named Barrister Nima Salman Mann, Rear Admiral Abubakar Abdullahi Mustapha, and Professor Elias Wahab concerning the alleged breach. Such incidents are outlined in the Nigeria Data Protection Act (NDPA) 2023, regarding data privacy, cybersecurity safeguards, and the protection of sensitive information.

CISA said if confirmed, the alleged actions contravene Nigeria’s data protection framework, with implications for data governance, safety of confidential media sources, and public trust in institutions.

It requests the NDPC to clarify the status of the probe, disclose any interim findings, and cite measures to prevent similar breaches.

The organisation believes the matter has evolved beyond an individual complaint, describing it as a test of the government’s commitment to enforcing its data protection laws, especially within ministries, departments, and agencies.

CISA also appealed to Tunji Disu, inspector general of Police, to order an investigation into the alleged cybercrime.

In a statement,  Omeje criticised the “prolonged delay” by the Force Criminal Investigation Department (FCID) in acting on a petition submitted since June 2025.

The group said, despite “credible evidence,” the police had yet to invite or question the individuals mentioned. Pointing out that two of the officials share membership in the National Institute (mni) with the former DIG at the FCID, CISA raised concerns about a possible conflict of interest.

Omeje clarified that the petition was different from the civil suit at the Federal High Court over Mr Shuaib’s withdrawal from the NIPSS programme.

“An elementary legal principle holds that a civil suit cannot be a bar to criminal investigation or prosecution,” he noted.

CISA called on the police to act in accordance with due process, advising the authorities to uphold the rule of law and restore public confidence.

It contends that failure to act decisively could erode trust in law enforcement and reinforce perceptions of a two-tier justice system.


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Kaspersky Reports Online Scam Exposure Remains Widespread Despite High Levels of Self-assurance

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A recent Kaspersky survey highlights a considerable gap between consumers’ confidence in identifying online scams and their actual exposure to cyber threats.

According to the findings, more than one-third of respondents (36%) in the Middle East, Turkiye and Africa (META) region reported encountering an online scam or attempted scam within the past 12 months, underscoring the persistent and evolving nature of digital risks.

Worryingly, these threats are far from hypothetical: 37% of surveyed users in the META region have fallen victim to online scams resulting in data compromise or financial loss.

Among those affected, nearly half (49%) experienced scams via social media platforms, while 48% reported investment or financial fraud attempts, 41% – scam associated with fake delivery or postal messages.

Phishing emails remain a significant threat as well, impacting 43% of respondents. These figures point to the increasingly diverse tactics used by cybercriminals to target individuals across multiple channels.

Despite this, confidence levels remain strikingly high: 80% of respondents in META believe they can recognise a scam, with 34% expressing strong certainty in their ability to avoid falling victim. This overconfidence may contribute to risky online behaviour and reduced vigilance.

When it comes to protective measures, respondents demonstrate mixed habits. While 57% report using strong and unique passwords, only 36% consistently check URLs before clicking, and 34% avoid public Wi-Fi for sensitive activities.

Notably, fewer than half (40%) use a dedicated security solution, which means a significant amount of people can face negative effects from cyberthreats. Alarmingly, 6% admit they do not use any specific security measures at all.

Regular maintenance of digital security tools also appears inconsistent. Just 35% of respondents in the META region update passwords and review security settings on a regular basis – at least once a month or more often. Meanwhile, 41% do so only occasionally, 19% rarely, and 5% never take such actions.

“The survey findings highlight a critical need for increased awareness and stronger adoption of comprehensive cybersecurity practices. While individual habits such as password hygiene and cautious browsing are essential, they should be complemented by reliable security solutions and regular security updates to effectively mitigate modern cyber threats,” comments Seifallah Jedidi, Head of Consumer Channel in the Middle East, Turkiye and Africa at Kaspersky.


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Tinubu Tasks NRS to Restore Public Trust Amid Fiscal Changes

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Against a backdrop of public criticism regarding ongoing tax reform policies, President Bola Tinubu on Tuesday charged the Nigeria Revenue Service to restore public confidence and ensure fairness in the implementation of the national tax system.

​Tinubu gave the charge while commissioning the 16-storey head office complex of the revenue service in Abuja.

​“No government can demand trust from its citizens when taxation is opaque, inefficient or unjust,” President Tinubu said.

​The president commended Nigerians for enduring the economic reforms introduced by his administration, stating that no serious nation can achieve lasting prosperity on a weak and fragmented revenue system.

​He stated that tax reform policies must be implemented to earn the confidence of Nigerians at home and abroad. He charged the revenue service to ensure that the policy embodies a new ethos.

“It must not only collect revenue, it must build trust, it must ensure fairness and it must demonstrate that government can be accountable, efficient and responsive,” Tinubu said. “It must become a model institution that earns confidence at home and respect abroad.”

​​The president thanked the Nigerian people for their resilience and perseverance. He recalled his inauguration day pledge to move Nigerians from the “darkness of uncertainty into the clear light of Renewed Hope”.

“I committed that we would confront structural weaknesses, restore fairness and build an economy anchored on discipline, equity and opportunity,” he said. “Today I stand before you to reaffirm that these words were not rhetoric.”

​He described his inauguration pledge as a “contract with the Nigerian people”, adding that the gathering was not merely to commission a building but to mark a milestone in a larger national journey.

​​Tinubu explained that the administration took the bold decision to embark on far-reaching tax and fiscal reforms to simplify the system, eliminate distortions and create a transparent, investment-friendly environment.

“Our direction is clear,” he said. “A revenue system that rewards enterprise, supports growth and ensures that every contribution to the national cause is matched by value for the people.”

​Tinubu described early results as “fantastic”, commending the revenue service for improved fiscal stability, stronger foreign reserves and increased investor confidence.

​​According to the president, these gains are the product of deliberate policy and a commitment to long-term prosperity. He noted that the new headquarters is a symbol of professionalism, transparency and efficiency.

“It reflects our resolve that institutions must rise to meet the demand of reforms and the expectations of the Nigerian people,” he said.

​President Tinubu called for a better future, urging those who follow to build on a history greater than the vision of their forebears.

​He noted that the completion of the building is a statement that Nigeria is no longer content with promises. “We are delivering progress,” he said. “History will not judge us by what we say, but by what we do.”

​Tinubu stated that the work of national renewal demands consistency, courage and collective resolve. He added that the nation’s future is determined by the choice of reform, discipline and prosperity.

​The president assured that his administration will remain focused until the promise to Nigerians is matched by the performance of its institutions and the prosperity of its people.


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