General News
Right of Reply: SAHCOL Got it all Wrong

Indigenous Software: SAHCOL got it all wrong! The purpose of this write up is to present an empirically informed understanding of the processes inherent in software development dynamics as a professional response by the Institute of Software Practitioners’ of Nigeria (ISPON) to statements and opinion published in the Nigeria Communications Week – Online version of Friday, August 3, 2012 (Online News Letter August 3, 2012) and credited to one Adejare Adekitan, a staff and head information and Communications Technology (ICT) at Skyway Aviation Company Limited.
The views would definitely not go unnoticed by discerning I.T Professionals and indigenous Software Developers. This response therefore aims to correct the very misleading and ignorant impression by the source – Mr. Adejare.
Mr. Adejare in his remark emphasised the continued patronage of Foreign Software as against indigenous software-and a critical look at this statements did not present any argument on technicalities as to the reason why indigenous software is not of reckoning to the Aviation.
This is a fallacy and goes to a long way to publicly display the deep of ignorance of how software product functionality, quality and integrity emerges and are sustained. It is therefore constructive to emphasize that “No software in the World is perfect” – that is why continuous versioning of Applications and solutions are strategic imperatives. Software Engineering is about transforming organisational policy, functions, business-processes and operations culture into an automated systems solution.
It is important to emphasise the following to debug and debunk the fallacy embedded in the statement of Mr Adejare: 1. All Software Solutions of the world are delivered with one, many, and several process flaws or errors in them – that is why there are many versions, leading to system capability and maturity model (CMM). Even at that, the complexity of human needs continues to demand more perfection that makes flawless software process a mirage.
2. There are numerous Foreign Software – imported into Nigeria and deployed\implemented by the Aviation and Banking sectors and other core Industries at colossal cost to shareholders and national economy – that have either FAILED to perform, or fulfill the contract scope of works!
3. I doubt is Mr Adejare is listed in the membership registry of Professional IT/Software Practitioners’ of Nigeria and his opinion to say the least is grossly uninformed and a layman view. His views are grossly misleading, ignorant and should not be taken as expert opinion.
Least Mr Adejare forgets, that as an electrical engineering graduate who to my view had never ventured nor written any reasonable Software application for the Aviation industry, will arrogate to himself to be an expert judge on Indigenous Software. By extension, he missed the point by expressing the view that Africa has no credible Software Developers which is equal to saying that orthodox medicine cures all illnesses in Africa.
Nay, the matter is about human intellect and creativity – that is software and Africa/Nigeria have them plenty. Let is be said that indigenous software applications are driving the significant operations of some of Nigeria’s top performing industries, including Aviation banks, oil and Gas, and so on.
The critical issue of this subject matter is focused on the fact that Software development lifecycle has two fundamental elements: Domain Knowledge and Professional Expertise on Analytical Process to codify the required solution – applying specific tools and standard procedures. In that context, Aviation Applications are predominantly and indirectly address and specified by Domain Knowledge Resources from the sector (who generate the operational policy roadmap brief) working directly with Software Analysts’ Engineers and Developers who apply technology process logic and tools to deliver the assessed needs of the client.
Same applies to Space Exploration, Communications, Financial, Accounting, Payroll, Construction, Medical, Agricultural, Oil & Gas Solutions to mention but a few. Software from the above mentioned domain are often subjected to intensive domain research through various channels of investment –particularly encouraged by the financial institutions.
The gestation period is long – maturity timeline ranges from minimum 3 to 5 to 7 years. To the best of our knowledge, there has not been any of such classified investment in the Software industry in Nigeria by the Banking Sector. What Mr Adejare seems to forget is that Indigenous Software Developers read from the same Universities, book and use the same tools as their foreign counterparts. Enabling environment may differ.
Indeed, the domain policy, operational requirements and briefs from the clients are then matched with the technology needs-assessment of the clients to enable the Software developers come up with the desired design and appropriate tools capable of delivering the solution.
Software – simply defined as computer software, or just software, is the collection of computer programs and related data designed to provide the logical instructions directing a computer hardware or related devices on what to do.
The term was coined to contrast to the old term hardware (meaning physical devices). In contrast to hardware, software is intangible, meaning it “cannot be touched”.
Software is also sometimes used in a more narrow sense, meaning application software only. Most of these software applications are derived from DOMAIN needs and replicate the operational characteristics of such domain.
Coming from the banking sector which should be concerned about the growth of the economy, this is really heart breaking and goes a long way to show that majority of our financial institutions are not committed to the growth of the Nigerian economy.
Mr. Adejare of SAHCOL got it all wrong by while asserting that foreign software solutions are the answer to Nigeria’s Aviation Sector, he has not stopped to think of the peculiarity of adaptive technology which can only be guaranteed by the local developers. By extension, he might have become a paid ally of those countries who intend to box us into the Digital Colony Domain, where Aviaton Application software becomes the major tool to assassinate stubborn African/Nigerian President in Future.
He probably has not realised that the domain knowledge is most critical to the development of application software solutions and that Nigerian Developed Software is perhaps the most fundamental component for the future and survivability of the Nigerian nation.
His argument that the Software industry in Nigeria might be young, thus unable to handle enterprise software and solutions of ‘Aviation Proportions’ is flawed on the background of the cognate experience of Nigerian Software Developers which spans more that 30 years of the 50 years origin of modern software development culture.
Mr. Adejare has not taken into account of the fact that Nigerian software developers have worked and continue to support the sustainability of foreign software.
Indeed, these Nigerians still head those foreign software organisations operating in Nigeria.
Mr Adejare not only sleights the software industry which was given credence by the Obasanjo Administration when the then President directed all MDA’s to use Indigenous software but also berates himself as an IT professional for being incapable of meeting the technical and intellectual needs of an industry which prides itself on imported software.
Nigeria may not have dedicated tertiary institutions as concerns software development, but that does not mean that the higher institutions/indigenous companies are not meeting the software needs of discerning Nigerians. How much of investment has the bank committed into software development in Nigeria?
Mr. Adejare needs to sit with developers and let them showcase their milestones and challenges instead of insulting the intellectual capability of software practitioners by falsely asserting that indigenous application software are not robust enough to meet the rigours of enterprise demands.
Indeed that false statement becomes transparently misleading when weighed against the following false statements: 1. Nigerians are not capable of developing and managing Banking business!
2. Nigerian Pilots are not capable of flying an A380 Airbus!
3. Nigerian Lawyers and Judges are not capable of handling international judicial litigation!
4. Nigerian Scientists are not capable of making new discoveries! 5. Nigerian writers are not capable of writing internationally acclaimed books! 6. Nigerians are not capable of being the President of their nation!!!
ISPON demands and unreserved apology from Mr. Adejare for insulting Nigerian Software Developers. To SAHCOL, the employers of Mr. Adejare, ensure that your staff is registered to practice the ICT Profession in Nigeria, else, he is undertaking and illegal employment.
That the software industry in Nigeria is not being patronised is due to the subconscionable bias towards foreign goods which majority of colonised countries still carry.
They should liberate themselves from this mental slavery and wake up to the reality of Nigerian Entrepreneurial spirit.
Furthermore, the foreign exchange transfer factor of Foreign Software and services is why people like Mr. Adejare have become their spokesman.
The digital space and laboratory for the practice of Software in our nation is the client’s domain the is our current and future laboratory – and no one has the right to deny indigenous software developers the fundamental and intellectual rights (IPRs) to practice their profession within that digital/cyberspace.
It is a great illusion to belief that things will remain the way they presently are!
There is need to inform Mr. Adejare that our education system is currently producing Information Technology Practitioners in very large numbers.
And that the Nigerian code warriors have arrived and ready to take charge. Finally, Nigerian Aviation should open the digital space and create a level playing field for Indigenous Software developers – both at home and in the Diaspora.
They should proof their support for indigenous software by challenging them with project calls. The hide and seek game in defence of foreign software to corruptly earn foreign exchange is over! With the Local Content act, Game is up.
General News
Cybersecurity Firm Detects a Wave of Crypto Phishing Following BlockFi Bankruptcy

Kaspersky has detected a wave of phishing attacks preying on former customers of the bankrupt crypto lending platform BlockFi.

These scams leverage the ongoing distribution of customer assets following BlockFi’s 2022 bankruptcy, tricking victims into surrendering cryptocurrency wallet seed phrases, potentially leading to financial losses.
BlockFi, once a prominent provider of high-yield interest accounts and crypto-backed loans, announced bankruptcy in November 2022. The company began disbursing repayments to affected clients in 2024 as part of its restructuring plan.
Kaspersky has detected fraudulent emails mimicking BlockFi’s official branding, which falsely invite recipients to “claim the payment” they are “entitled to.” After clicking on the link, users land on a phishing page and are prompted to “connect their wallet”.
The attackers suggest that users import their existing wallet by typing in the secret phrase – this grants attackers direct access to the funds in the victim’s wallet.
“Phishing attacks like this are widespread, capitalising on real-world events to build trust and urgency. Victims who fall for these scams risk exposing their crypto wallets to theft. It’s critical for individuals to verify any communications directly through official channels and to check the address from where the email originates for legitimacy,” comments Roman Dedenok, anti-spam expert at Kaspersky.
The phishing emails feature convincing logos, colour schemes, and language, making them difficult to spot at first glance. Kaspersky recommends the following steps to avoid falling victim to this or similar scams:
- Do not click on links or respond to unsolicited emails.
- Protect Sensitive Information: Never share banking credentials, wallet seed phrases, or other private keys in response to an email or online form.
- Use Security Tools: Enable two-factor authentication (2FA) on all financial accounts, employ reputable security software like Kaspersky Premium, and consider using a password manager to safeguard credentials.
General News
Universal Insurance to Raise N15bn to Meet Capital Rules
Universal Insurance Plc has secured the approval of its shareholders to raise additional capital of N15 billion through a proposed recapitalisation exercise, as the insurer intensifies efforts to strengthen its balance sheet and position the company for long-term sustainability.
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The approval will be granted at an Extraordinary General Meeting (EGM) scheduled for February 5, 2026 in Lagos.
Currently, Universal Insurance’s share capital stands at N8 billion, with 16 billion ordinary shares held by existing shareholders on the NGX. The board is seeking to revalidate, authorise, and regularise 14 billion unissued ordinary shares for the planned capital raise and also secure approval to list and admit the new shares for trading
Following resolutions passed at the Extraordinary General Meeting (EGM), Universal Insurance Plc is moving forward with a comprehensive recapitalisation programme aimed at reinforcing its capital base and improving its capacity to underwrite larger and more diversified risks.
Shareholders approved the plan to raise new equity through a combination of capital market instruments, subject to regulatory approvals, as part of efforts to meet industry capital requirements and support future growth.
Gross premium written rose to N18.59 billion, up from N12.29 billion a year earlier, driven by increased underwriting activity across key insurance segments. Insurance revenue also grew to N14.68 billion, compared with N9.85 billion in the prior period, reflecting stronger risk acceptance and improved pricing discipline.
Despite higher insurance service expenses, the company posted an insurance service result of N1.13 billion, while net investment income surged to N2.79 billion, supported largely by fair value gains on financial assets. As a result, net insurance and investment income increased to N5.18 billion, nearly double the N2.61 billion recorded in the same period of 2024.
On the balance sheet, total assets expanded to N21.82 billion as at September 30, 2025, from N18.14 billion a year earlier, supported by growth in financial assets and investment properties. Shareholders’ funds rose to N14.38 billion, up from N12.33 billion, reflecting improved profitability and reserve accumulation.
Investors have also responded positively to Universal Insurance’s performance, with its stock delivering an 83.33 percent return in 2025, rising from N0.66 to N1.21 per share, and trading volumes exceeding 6 billion shares.
The recapitalisation initiative, combined with the improving financial performance recorded in Q3’25, underscores Universal Insurance Plc’s determination to reposition itself as a more resilient and competitive player in Nigeria’s insurance industry.
The company aims to deliver improved value to policyholders, investors, and partners, while supporting broader economic activity and generating sustainable returns for shareholders.
General News
FG Rejects Northern Elders’ Gold Refinery Siting Claim

Federal Ministry of Solid Minerals Development has debunked allegations by the Northern Elders Forum that the Federal Government sited a gold refinery in Lagos, breaching the federal character principle.

Minister Dele Alake
In a statement from Abuja, Special Assistant to Minister Dele Alake, Segun Tomori, described the claim by the forum’s spokesperson, Prof. Abubakar Jiddere, as “false and misleading.” He clarified that the minister never announced any government-owned gold refinery in Lagos or elsewhere.
Mr Tomori stressed that Minister Alake explicitly described the refinery as a private initiative by Kian Smith, one of several such projects nationwide. “The Federal Government does not compel private companies to site operations in specific regions,” he added, crediting founder Nere Emiko’s leadership.
The project supports the government’s value-addition policy to curb raw mineral exports and boost local processing. Reforms over two years have spurred investments like a $600 million lithium plant in Nasarawa, a $400 million rare earth facility there, and a $200 million ASBA lithium plant in Abuja.
Tomori highlighted the policy’s role in attracting foreign capital and creating jobs, describing the Lagos refinery as proof of successful reforms. He urged the Northern Elders Forum to back efforts for a stronger Nigerian economy rather than spreading misinformation.
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