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Stakeholders Call for Stronger Cybersecurity and Data Protection Measures at NIICF Forum
Amid growing concerns about data breaches and cyberattacks, stakeholders at the 12th Nigeria ICT Impact CEO Forum (NIICF) have emphasized the urgent need to strengthen data protection, cloud infrastructure, and cybersecurity.
The event, held over the weekend with the theme “Strengthening Data Protection, Cloud Infrastructure & Cybersecurity,” brought together industry leaders to address critical challenges in safeguarding sensitive information and ensuring digital resilience.
Ike Nnamani, Chief Executive Officer of Digital Reality, underscored the importance of cybersecurity in data localisation efforts. He warned that without robust security measures, mandating local data hosting could expose sensitive information to risks.
“While exploring ways to strengthen local hosting, cybersecurity is paramount. Without the necessary infrastructure and policies, we risk compromising critical sovereign data,” Nnamani said.
Nnamani called for a government-led approach to creating a secure digital ecosystem, urging the development of cybersecurity frameworks, incentives for businesses to invest in security, and increased funding for research and development.
“Before promoting local hosting, we must prioritise safeguarding sensitive data. A secure digital ecosystem is essential for managing critical sovereign information effectively,” he added.
Lekan Balogun, CEO of Net Access System Limited, highlighted the rising reliance on digital services and the internet, stressing the need for robust data protection and cloud infrastructure. He noted the critical role of skilled professionals in tackling cybersecurity challenges, advocating for initiatives such as internship programs and management training to retain and empower these experts.
“To secure our digital future, we must invest in policies, infrastructure, and the expertise needed to address evolving cyber threats,” Balogun remarked.
Abiodun Omoniyi, CEO of VDT Communications, reiterated his company’s commitment to quality and innovation in telecommunications.
He emphasized the importance of strengthening digital infrastructure, deploying advanced data privacy measures, and fortifying cybersecurity to build a resilient digital ecosystem for Africa.
“Our longstanding partnership with NIICF reflects our dedication to driving secure and efficient digital solutions that align with Africa’s growth goals,” Omoniyi said.
In his opening remarks at the event, Tayo Adewusi, Publisher and Coordinator of NIICF, stressed the need for robust data governance policies to ensure responsible handling of sensitive information.
He advocated for compliance with global regulations such as GDPR and CCPA to safeguard privacy and promote best practices.
Adewusi also highlighted the importance of securing cloud infrastructure through collaborations with reputable cloud service providers, advanced threat detection systems, and comprehensive employee training programs.
“A comprehensive cybersecurity strategy is essential for identifying threats, responding to incidents, and fostering a culture of digital safety,” he stated.
The forum emphasized the collective responsibility of stakeholders to create a secure digital ecosystem. By strengthening cybersecurity frameworks, enhancing infrastructure, and empowering skilled professionals, Nigeria and Africa can better safeguard sensitive information and ensure sustainable digital growth.
This collaborative approach will play a critical role in advancing digital resilience across the continent and addressing the rising challenges of cyber threats in an increasingly digital world.
Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
PalmPay, Nigeria’s leading fintech company, has partnered with Globacom to launch the second edition of the “Recharge and Win Bonanza” campaign. The promotion, which runs from June 19th to August 8th, 2025, offers Nigerians the chance to win amazing prizes when they purchase Glo airtime and data via the PalmPay app.
According to a joint statement by PalmPay and Globacom, “A weekly live raffle draw will be held and streamed on PalmPay’s official social media channels throughout the campaign. Customers who make Glo transactions through the PalmPay app will be eligible to win prizes, including the iPhone 15 Pro, Infinix Hot 40, and other exciting items”.
To participate, interested customers can log onto http://bit.ly/PalmPaySms .
The statement added that all transaction above N500 gives participants an extra shot at winning, adding that daily social media challenges will also offer participants a chance to win cash prizes.
Additionally, PalmPay users can enjoy up to 6% cashback when they buy Glo airtime and data through the PalmPay app. As an added bonus, customers who have not subscribed to a Glo data plan in the last 90 days will receive a 100% bonus on their recharge during the campaign period.
Wayne Ruppel, Head of Billers at PalmPay Limited expressed excitement about the partnership, stating that, “This collaboration is a major step in our mission to deliver MORE – more support, more rewards, and more innovation to our customers.
Partnering with Glo, a leader in the telecommunications sector, is a testament to our shared commitment to improving everyday experiences for all Nigerians. We are excited to reward our users and encourage everyone to take full advantage of this exciting opportunity.
Globacom also expressed delight at creating additional value for its subscribers through unique customer-appreciation schemes.
“Our partnership with PalmPay on the “Recharge and Win Bonanza perfectly underscores our commitment to delivering exceptional value and experiences. Over the years, we have always sought innovative ways to enrich the lives of our customers. We, therefore, enjoin our subscribers to utilize the opportunity provided by the bonanza and enjoy the many benefits it offers”, the company stated.
PalmPay and Glo will collaborate throughout the campaign period to deliver exceptional customer experience, reward loyalty, and reinforce their shared mission to make digital transactions more accessible, rewarding, and secure for millions of Nigerians.
News
UK Reaffirms 99% Duty-Free Access for Nigerian Exports Under Developing Countries Trading Scheme
United Kingdom has reiterated its long-term commitment to strengthening economic ties with Nigeria, confirming that 99% of Nigerian goods will continue to enjoy duty-free access to the UK market under the Developing Countries Trading Scheme (DCTS).
Dr. Richard Montgomery, British High Commissioner to Nigeria
The announcement reinforces the UK’s intention to bolster sustainable trade with Nigeria, boost export competitiveness, and promote inclusive economic growth across both nations. Introduced in June 2023, the DCTS is designed to reduce tariffs and simplify export rules for developing economies. It currently benefits 37 African countries, with Nigeria being a key player.
Nigerian exporters are set to gain substantial advantages from the scheme, which allows over 3,000 products—ranging from cocoa, plantain, and shrimp to processed items like cocoa paste, palm oil, and cotton garments—to enter the UK duty-free or with reduced tariffs. This shift supports value addition in Nigeria’s export ecosystem, encouraging the move from raw to processed exports.
British High Commissioner to Nigeria, Dr. Richard Montgomery, said: > “Nigeria stands at the heart of the UK’s global trade ambitions. This isn’t just about improved market access—it’s about building a fairer, freer global trading system that supports economic growth and job creation, both in developing countries and in the UK.”
He further noted that through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), the UK continues to work closely with the Federal Ministry of Industry, Trade and Investment (FMITI) to tackle export challenges and maximise opportunities under the scheme.
The DCTS aligns with broader UK efforts to expand trade relations across the globe, complementing recent agreements with nations such as India and the United States.
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