Connect with us

Telecom

Technext Rallies Blockchain Stakeholders on the Future of Digital Currencies @ Africa’s Largest Cryptocurrency Gathering in Lagos

Published

on

Kindly share this post

Technology news platform, Technext, held the maiden edition of its Technext coinference on Thursday, December 9th at the Pistis Conference Center in Lekki, Lagos.

During a Panel session themed ” Blockchain: Opportunities for Africa” at the event on Thursday, in Lagos.

The event, with the general theme “Reimagining crypto as the future of finance,” gathers brilliant minds in the Nigerian blockchain sector to have essential discussions about the future.

David Afolayan, Content chief at Technext, in his opening address reiterates that it is important to have such a conversation around digital currencies as it is the new approach to trade and central to our survival.

“We need instruments to achieve conveniences, and trade is that instrument. Trade has taken different forms, and now we are lucky to be at the foothold of that change where digital currencies are replacing fiat money and we can transact without borders. ” – Content chief at Technext, David Afolayan,

He also noted that the rules guiding trade many years ago are no longer applicable and many people are not finding that convenient. To address these concerns, innovators, enthusiasts, and regulators need to have a conversation, one that the event provides.

The hybrid event brought together individuals and institutions from across Nigeria and beyond. Stakeholders and individuals from regulatory bodies were also present at the event.

Giving a keynote address at the event, Prince Clem Ikanade Agba, minister of state budget and national planning, stated that the event captures the mutual desire of the government and its citizens to explore innovative methods towards economic recovery, growth, and development.

According to the minister, the government remains enthusiastic about the numerous possibilities the crypto industry provides despite the seemingly growing restrictions.

“So far, I hope I’ve demonstrated that both citizens and governments see the benefits of cryptocurrencies and share a mutual belief in them.

“I believe it is crucial for all stakeholders to view each player as a key teammate in forging a path toward a healthy crypto space in Nigeria. ”

He noted that cryptocurrencies could be the biggest disruptor in finance and governance the world has ever witnessed. However, the government needs to regulate the industry.

Regulations of the industry don’t mean “a giant hammer slamming down on the activities going on in an industry,” but rather to optimize conditions for growth, tailored towards the industry.

The event also had insightful takes from enthusiasts and innovators in the blockchain industry who addressed lingering questions and myths around the sector.

The first panel discussions involved Uzoma Dozie, CEO of Sparkle; Buchi Okoro, CEO of Quidax; Dickson Nsofor, CEO of Korapay; Austin Okere, CEO of CWG; Nkemdili Uwaje, CEO of Future Software; and Chimezie Chuta, Founder of the Blockchain Nigeria User Group.

The session was focused on untying the regulatory knots in the space, and a key idea that was mentioned by all speakers was the pace at which cryptocurrency is changing the financial system.

A panelist, Uzoma Dozie, spoke about the difficulties of scaling crypto because it is currently one of the fastest payment systems in the world.

He reiterated that the Nigerian CBDC, enaira, is not going to compete with card payments. It will only be one of the many available payment systems.

Buchi Okoro, CEO of Quidax, elaborated that the central bank’s development of eNaira is a step towards meeting stakeholders halfway and will encourage digital liquidity.

He explained that in the same way that WhatsApp can’t replace hugs and physical interactions, cryptos can’t replace fiat cash. Both currencies can only collaborate to bring better lives to the people.

Patricia’s CEO, Hanu Fejiro Agbodje, giving the keynote speech on Blockchain for Africa: The endless possibilities illustrate how Michael Faraday did not envisage that one day, Elon Musk would use his creation, electricity, to power his electric vehicles.

According to him, the world is still in its very early days of blockchain technology. It is one that people will constantly try to understand and use in various ways into the unknown future.

“We have been succeeding in this industry with zero support. Imagine if we got support from the government. He concluded by saying, “We can win and we will win as long as we continue to strive,”

The second panel comprised experts like Emmanuel Babalola, Africa Director at Binance and Interim CEO of Bundle; Modibe Matsepena, Senior Associate of Growth in Africa at Paxful; Founder of Aza Pay, Jacqueline Madu, and Bitmama CEO, Ruth Iselema.

Owing to the popular belief that crypto transactions are not traceable, users wanted to know the veracity behind that claim.

Buchi Okoro replied that Bitcoin is not anonymous. Bitcoin is pseudonymous.

“When you track patterns on ether scan and blockchain explorer, you can actually see every transaction that’s happened on the blockchain up until the very first production of that bitcoin,” he says.

Further highlights from the event were the brand moments, where institutions in the crypto scene gave insights into their various innovative products aimed at making the Nigerian blockchain industry a success.

Most of the conversations from the event centred around regulations and what the future holds for the crypto space in Nigeria.


Kindly share this post

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Telecom

Minister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers

Published

on

Kindly share this post

Bosun Tijani, minister of Communications, Innovation and Digital Economy, yesterday claimed that bandits and terrorists are able to communicate and coordinate their activities with ease because they exploit gaps in the country’s telecommunications network.

Minister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers

Bosun Tijani, minister of Communications, Innovation and Digital Economy,

Tijani, who spoke  Politics Today, a Channels Television’s programme, on Friday, Tijani said the criminals exploit gaps in the country’s telecommunications network.

He also claimed the bandits use advanced technology to bounce calls across multiple towers in areas with poor connectivity.

“They weren’t using the normal towers; they bounced calls off multiple towers, which is why they favor areas that are largely unconnected,” he said.

When asked about reports that unregistered or fraudulently registered SIM cards are still in use despite the Bank Verification Number (BVN) and the National Identification Number (NIN)–Subscriber Identity Module linkage policies, Tijani said the issue is technically complex and the reports are not fully verified.

“Whether it’s fact or not, I do not know where you’re getting that from, and I do not know who has evidence that there are people with unregistered SIMs,” he added.

The minister stated that the federal government is investing in telecom towers in underserved regions, upgrading the country’s communication satellites to improve coverage, and expanding fiber-optic networks to strengthen the country’s digital infrastructure.

“If our towers are not working, our satellites will work. Nigeria is the only country in West Africa with communication satellites, and we are bringing new satellites to upgrade their capabilities,” Tijani said.

He added that these initiatives aim to ensure better connectivity for Nigerians while closing loopholes that criminals exploit, thereby enhancing national security.

The minister’s comments come amid rising concerns over insecurity in several parts of the North, where banditry, kidnapping, and terrorism have escalated in recent years.

There are also reports of bandits flaunting ransom payments on social media platforms such as TikTok, raising alarm among authorities and the public


Kindly share this post
Continue Reading

Telecom

Sophos XDR Achieves its Best-Ever Results in the MITRE ATT&CK Enterprise 2025 Evaluation

Published

on

Kindly share this post

Sophos, a global leader of innovative security solutions for defeating cyberattacks, has announced its best-ever results in the MITRE ATT&CK Enterprise 2025 Evaluation.

Sophos XDR Achieves its Best-Ever Results in the MITRE ATT&CK Enterprise 2025 Evaluation

MITRE ATT&CK Enterprise 2025 Evaluation

Sophos XDR detected 100% of adversary behaviors (sub-steps)1 across two complex attack scenarios: Scattered Spider, which Sophos X-Ops tracks as GOLD HARVEST, a financially motivated cybercriminal collective, and Mustang Panda, which Sophos X-Ops tracks as BRONZE PRESIDENT, a People’s Republic of China (PRC) espionage group.

The Scattered Spider scenario included activity across Windows, Linux, and AWS cloud environments, and the Mustang Panda scenario focused on Windows only.

Further, Sophos achieved the highest-possible “Technique”-level rating for 86 out of 90 total sub-steps in the evaluation, by generating high-fidelity detections with details on execution, impact, and adversary behavior, providing clear who, what, when, where, how, and why insights.

Sophos XDR achieved:

  • 100% detection coverage1 for all 90 adversary sub-steps across two complex attack scenarios across Windows, Linux, and AWS cloud environments
  • Highest possible (“Technique”) ratings for 86 of 90 sub-steps, demonstrating deep visibility and actionable detections
  • Highest possible (“Technique”) ratings for 61 out of 62 of sub-steps in the Scattered Spider scenario involving identity abuse, cloud exploitation, and data exfiltration

“Scattered Spider and Mustang Panda represent distinct threat profiles that challenge defenders in very different ways,” said Simon Reed, chief research and scientific officer, Sophos. “Achieving full detection coverage against both validates the accuracy and depth of Sophos’ analytics and demonstrates how the company’s AI-native XDR platform converts complex telemetry into clear, actionable intelligence, helping security teams detect, understand, and stop advanced attacks with confidence.

“Sophos’ consistently strong performance in these rigorous evaluations underscores the power and precision of our threat detection and response capabilities, and our commitment to stopping the world’s most sophisticated cyberthreats.

“Over the five years that Sophos has participated in ATT&CK Evaluations, we have continually invested in strengthening our platform, and that investment has translated into stronger results year after year – both in the evaluations, and in the security outcomes we deliver for our customers.”

These results demonstrate the power of the Sophos XDR platform to defend against sophisticated cyber threats. Every day, Sophos processes 223+ terabytes of telemetry in Sophos Central, generating 34+ million detections and automatically blocking 11+ million threats.

This scale of customer insights ensures that Sophos’ detections are being tested and improved to provide continuous protection while delivering stronger outcomes for organizations worldwide.

Understanding The Threat Actors

Sophos X-Ops has tracked GOLD HARVEST (Scattered Spider) since 2022, observing a loosely affiliated cybercriminal collective driven by both financial motives and a desire to elevate their reputations on underground forums.

Despite several arrests, operators and associates continue to launch high-profile attacks across the U.K. and U.S., at times partnering with major Russian-speaking ransomware groups.

Their sophisticated social engineering capabilities enable them to compromise even well-defended organizations, underscoring the importance of strong behavioral detections within modern security operations.

In parallel, Sophos X-Ops has monitored BRONZE PRESIDENT (Mustang Panda) for many years.

This long-running PRC espionage group conducts intelligence-led operations that align closely with priorities of China’s Ministry of State Security. Recent targeting includes activity against Tibetan communities surrounding the Dalai Lama’s 90th birthday, as well as intrusions on Thai government and military offices during periods of heightened regional tension.

BRONZE PRESIDENT remains one of the most active and persistent state-aligned threat actors operating today.

MITRE ATT&CK Evaluations are among the world’s most rigorous independent security tests.

They emulate the tactics, techniques, and procedures (TTPs) used by real-world adversaries to assess each participating vendor’s ability to detect, analyze, and articulate threats in alignment with the MITRE ATT&CK Framework.

These evaluations continually strengthen Sophos’ capabilities for the benefit of the organizations it protects. This was the seventh round of MITRE’s “Enterprise” ATT&CK Evaluation, a product-focused assessment designed to help organizations better understand how security operations solutions like Sophos EDR and Sophos XDR can help them defend against sophisticated, multi-stage attacks.

When evaluating EDR or XDR solutions, Sophos recommends reviewing MITRE ATT&CK Evaluations alongside other independent proof points.


Kindly share this post
Continue Reading

Telecom

CBN, NCC to Launch Short Code for Swift Consumer Complaint Resolution

Published

on

Kindly share this post

Central Bank of Nigeria (CBN) on Thursday announced plans to partner with the Nigerian Communications Commission (NCC) to develop an industry-wide short code for consumers to lodge complaints with financial institutions anytime, anywhere, even without internet access.

CBN, NCC to Launch Short Code for Swift Consumer Complaint Resolution

CBN

Dr Aisha Isa-Olatinwo, CBN Director, Consumer Protection and Financial Inclusion Department, disclosed this at a virtual Consumer Protection Town Hall meeting titled “Ask the Regulator”, organised by Enhancing Financial Inclusion and Advancement (EFInA).

She said the initiative addresses challenges faced by vulnerable consumers using feature phones who often have to visit bank branches physically to report issues amid the convergence of telecom and banking services.

Isa-Olatinwo said the CBN had achieved 94 per cent month-on-month timely resolution of consumer complaints, adding that the apex bank had streamlined processes and partnered with banks to balance consumer protection with financial system stability.

An EFInA poll presented at the event revealed that 61 per cent of respondents experienced failed transactions in the past 12 months, while 26 per cent had reversals within 24 hours and 54 per cent between 24 and 48 hours.

Other complaints included six per cent for fraud, 14 per cent for hidden charges and 15 per cent for poor customer service, with 66 per cent of respondents aware of complaint escalation steps.

President of Consumer Advocacy Foundation of Nigeria (CAFON), Mrs Sola Salako-Ajulo, lamented that consumers often feel unprotected and urged introduction of fraud insurance for instant reversals, shifting the burden of proof from customers.

She said: “What is missing in our system—unlike more developed economies—is fraud insurance, where banks reverse reported fraud immediately, refund consumers, and investigate later.”

Mr Ajibade Laolu-Adewale, Chairman of Committee of e-Business Industry Heads (CeBIH), represented by Mr Adeyemi Salisu, stressed that banks must resolve disputes between acquiring and issuing banks without redirecting customers to merchants.

The short code initiative is expected to enhance financial inclusion by providing accessible redress mechanisms in Nigeria’s evolving digital payment ecosystem.


Kindly share this post
Continue Reading

Trending