News Wings

Tag: information technology

  • Zenith Bank Tech Fair 5.0 awards N140m to Hackathon winners

    Zenith Bank Tech Fair 5.0 awards N140m to Hackathon winners

    A total cash prize of ₦140 million has been awarded to ten (10) African innovators to scale their transformative solutions after a keenly contested hackathon and pitch session at the Fifth Edition of the Zenith Tech Fair, themed “Future Forward 5.0: Tech for Success – Innovate, Adapt, Accelerate”, which held on Thursday, November 20, 2025, at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos.

    A statement from the bank said the 2025 edition of the Zenith Tech Fair featured an expanded, dual-competition structure that included a high-stakes Hackathon for product development and a Startup Pitch Competition for early-stage ventures, and drew participation from thousands of developers, founders, and entrepreneurs across the continent.

    The prize money was shared among ten finalists who emerged from the over 2,000 contestants that took part in the Zecathon. In the hotly contested final, two major winners emerged, each receiving the top prize of ₦30 million. The winner of the Hackathon, Trust Loop, clinched first place for its innovative solution that delivers seamless digital KYC and liveness verification. Simultaneously, the winner of the Startup Pitch Competition, Cubbes Technologies Limited, secured the top spot for its revolutionary AI-powered EdTech platform that enhances learning and career readiness.

    The remaining eight (8) finalists across both categories were equally recognised, each receiving ₦10 million in non-dilutive funding. They include Venille Ltd, Sowota, FLOW, InvoPay, Zenith Intelliscore, The Very Hacked Men, Konfam and Zerax. All ten finalists will also be entitled to a six-week mentorship and incubation programme designed to help them grow and scale effectively, and this will run from December 2025 to February 2026.

    The Group Managing Director/CEO of Zenith Bank Plc, Dame Dr Adaora Umeoji, OON, in her welcome address, thanked the Founder & Chairman, Dr Jim Ovia, CFR, for the visionary foresight that led to the creation of the Zenith Tech Fair. Commenting on the Zecathon, she said, “Our theme this year, ‘Tech for Success: Innovate, Adapt, Accelerate’, is very timely. To appreciate its urgency, it helps to reflect on the speed of human progress. According to the Harvard Business Review, it took humanity millions of years to master fire, yet only 66 years to move from the first powered flight to landing on the moon. The lesson is simple – the next technological breakthrough will not take a lifetime. It will emerge sooner than we expect and could come from any one of you in this room today. We are confident that this Tech Fair will produce innovators who will change the world, and we stand ready to support you to turn your ideas into reality.”

    In his Goodwill Message, the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, said, “This fifth edition reflects our unwavering commitment to create value through technology, innovation, and talent development. My vision is to continue to empower the youth through technology, with the hope that one day we will produce the likes of Bill Gates, Steve Jobs and Jeff Bezos.”

    Whilst delivering his goodwill message, the Governor of Lagos State, His Excellency, Mr Babajide Sanwo-Olu, called for increased technological empowerment initiatives to provide youths with adequate opportunities needed to thrive in the digital future. He said, “What I see happening here every year are things that we in leadership need to connect with. This is an activation that can bring life and real conversation to the young, dynamic, innovative, and creative young people that we have in this country. By 2050, half of the youth population in the world will be in Africa, and even in Africa, they will be in Nigeria, and if they are in Nigeria, they will be somewhere in Lagos, and we need to be able to fish them out. We need to give them an opportunity and a space to fly. We want to make Lagos the human capital centre of the world, where Microsoft and Google will think of raising a million tech experts. That’s the kind of vision and opportunity we want to leave behind.”

    Hailed as a resounding success by participants, the Fair showcased cutting-edge demonstrations on the role of Generative AI, Agentic AI, and Cloud Computing in driving economic growth with Keynote addresses delivered by Sitoyo Lopokoiyit, Managing Director, M-PESA Africa; Jonas Kjellberg, Co-Creator, Skype and Dr. Shivagami Gugan, Chief Technologist for Middle East, Turkey and Africa, AWS.

    The event also featured goodwill messages by the National Commissioner, Nigeria Data Protection Commission, Dr. Vincent Olatunji, and the cably represented by the Head of Service, Niger State, Mr. Abubakar Sadiq Idris.

    Another key feature from the tech fair this year was the robust exclusive masterclasses delivered by global technology and consulting powerhouses: McKinsey & Company, Huawei, Check Point, and Microsoft. These sessions covered critical topics from cybersecurity to advanced cloud solutions and disruptive technologies, equipping participants with world-class insights.

    Aside from the thrilling musical performance by Nigerian musician Spyro, the fair also featured dual-panel sessions that were very insightful and highly interactive. The panel sessions both had Zain Asher, CNN Anchor, as host, and featured high-level discussants including Adaora Nwodo, Founder & Executive Director, NexaScale; Aisha Tofa, Board Chair, Startup Kano Centre for Innovation Dev.; David Kpakima, CoFounder, Rasab Group, Sierra Leone; Dr Stanley Jacob, President, FINTECHNGR; Iyinoluwa S. Aboyeji, CEO Future Africa; Gary Fowler, CEO & Founder GSD Venture Studios; Bradwin Roper, Chief Payments & Partnerships Officer at JUMO, and Mrs. Omoyemen A. Jide Samuel, Director, Information Technology, CBN.

    Zenith Bank remains committed to fostering an ecosystem where innovation thrives, ensuring that the next generation of African tech leaders have the capital, mentorship, and resources required to achieve global scalability and impact.

    The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025.

    The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

    Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards.

    Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

    The Bank’s commitment to excellence led to Zenith being also named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025.

    The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards, Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year at the Nairametrics Capital Market Choice Awards 2025.

    Zenith Bank has also bagged several non-financial awards, including Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024.

  • Airtel Africa Foundation Launches 100 Tech Scholarships for Nigerian Undergraduates

    Airtel Africa Foundation Launches 100 Tech Scholarships for Nigerian Undergraduates

    Following the recent announcement by its Chairman, Dr. Segun Ogunsanya, at a World Press Conference held in Lagos recently, the Airtel Africa Foundation, through Airtel Nigeria, has kicked off its Undergraduate Tech Scholarship Programme to benefit 100 Nigerian undergraduates.

    This initiative will provide each recipient with a grant covering tuition, accommodation, study materials, and a stipend from the first year of study through the final year. This financial aid removes economic barriers, empowering students to dedicate their focus to academic and technical achievement in technology.

    Eligible courses of study include Computer Science, Information Technology, Data Science, Software Engineering, Cybersecurity, Artificial Intelligence, and other ICT-related disciplines.

    Commenting on the initiative, Dr. Ogunsanya affirmed that the scholarships represent the Foundation’s continued commitment to breaking down barriers for young Africans.

    “At Airtel Africa Foundation, our vision has always been to create opportunities where talent meets ambition. With this scholarship, we are investing in Nigeria’s future tech leaders, giving them the resources and confidence to thrive in an increasingly digital world,” he stated.

    Beneficiaries are selected from 100-level students enrolled in approved programmes in participating public universities across the country. These institutions include the University of Lagos (UNILAG), the University of Nigeria, Nsukka (UNN), Ahmadu Bello University (ABU), the University of Benin (UNIBEN), Obafemi Awolowo University (OAU), the University of Ilorin (UNILORIN), and Tai Solarin University of Education (TASUED).

    Airtel Nigeria CEO, Dinesh Balsingh, noted: “The prioritization of education as a pillar of our social investments becomes much stronger with these 100 new scholarships. They build on such other initiatives as our partnership with UNICEF on the Reimagine Education Programme, our Adopt-A-School project, and our 1 billion naira investment in the Three Million Technical Talent (3MTT) effort of the Federal Government. Ultimately, for us as an organisation, the best way to equip the future is to arm it with cutting-edge education.”

    The undergraduate scholarship is a direct component of the Foundation’s four strategic pillars of Financial Inclusion, Education, Environmental Protection, and Digital Inclusion (FEED).

  • Historic Moment for Africa as the African Space Agency is Officially Inaugurated

    Historic Moment for Africa as the African Space Agency is Officially Inaugurated

    On Sunday, April 20, 2025, Africa marked a historic milestone with the official inauguration of the African Space Agency (AfSA) during the NewSpace Africa Conference, held in Cairo, Egypt. The ceremony brought together a distinguished assembly of dignitaries from across the world, including ministers, ambassadors, and representatives of leading global space institutions. This landmark event signifies Africa’s bold step into a future where space exploration and innovation play a critical role in the continent’s sustainable development and global influence.

    Dr. Valanathan Munsami, former CEO of the South African National Space Agency (SANSA) and Chair of the African Union Space Working Group, set the tone for the inauguration with a powerful keynote address. Reflecting on the journey toward the establishment of the African Space Policy and Strategy, Dr. Munsami emphasized Africa’s unique opportunity to shape its future in the global space sector through unity, innovation, and sustainable growth.

    The event underscored the strong international support for Africa’s space ambitions, with goodwill messages delivered by senior figures from major space agencies. Marco Ferrazzani of the European Space Agency (ESA), Karen Feldstein of NASA, H.E. Salem Butti Salem Al Qubaisi of the UAE Space Agency, Jean-Marc Astorg of CNES (France), Mr. Kikuchi Koichi of JAXA (Japan), Dr. Driss El-Hadani of UNOOSA, and Mr. Luca Maria Salamone of the Italian Space Agency each reaffirmed their commitment to collaborating with Africa in its space endeavors.

    National heads of space agencies from Gabon, Kenya, Nigeria, Angola, and Egypt delivered remarks that highlighted a strong regional commitment to collaborative space development. Their presence and speeches symbolized a united continental approach to space exploration and technology, reinforcing the vision of Africa working as one to unlock its full potential in the space economy.

    A memorable moment of the ceremony was the unveiling of the African Space Agency’s official logo, a powerful symbol of unity and aspiration. The occasion also witnessed the signing of a Memorandum of Understanding between AfSA and the European Space Agency. To commemorate the new partnership, the ESA presented AfSA with a special gift: a flag that had traveled to space — a profound gesture signifying trust, solidarity, and a shared future in space exploration.

    Political leaders further strengthened the event’s significance with strong messages of support. H.E. Mr. Mário Augusto da Silva Oliveira, Angola’s Minister of Telecommunications, Information Technology, and Social Communication, Dr. Badr Abdelatty, Egypt’s Minister of Foreign Affairs, Immigration, and Egyptian Affairs, and H.E. Mr. Moses Vilakati, Commissioner for Agriculture, Rural Development, Blue Economy, and Sustainable Environment at the African Union Commission (AUC), all reiterated the political will behind Africa’s space program. Their addresses pointed to a continental determination to harness space technology for economic, educational, environmental, and societal transformation.

    The welcome address was delivered by H.E. Dr. Tidiane Ouattara, President of the African Space Council, who framed the agency’s inauguration as not just the birth of an institution, but the start of a new era for Africa. Representing the Egyptian government, H.E. Ayman Ashour, Egypt’s Minister of Higher Education and Scientific Research, delivered a keynote address on behalf of Prime Minister H.E. Prof. Dr. Mostafa Madbouly. He emphasized the strategic importance of hosting the African Space Agency in Egypt and how it signifies Africa’s aspirations to be at the forefront of global scientific and technological innovation.

    The inauguration culminated in a symbolic ribbon-cutting ceremony, led by Dr. Temidayo Oniosun, Managing Director of Space in Africa. This act officially declared the African Space Agency operational, cementing Africa’s commitment to achieving space sovereignty and fostering continental integration through science and technology.

    The launch of the African Space Agency is more than just an administrative achievement; it is a defining moment in Africa’s journey toward self-reliance, innovation, and leadership on the global stage. It affirms the continent’s readiness to use space science as a catalyst for development, addressing challenges such as climate change, resource management, disaster response, agriculture, and education, while inspiring future generations to dream beyond borders.

    With the inauguration of AfSA, Africa steps confidently into the future, poised to carve out a space for itself among the stars.

  • INNOVENTION 11: Exploring the Future of Africa’s Creative Industries in the Era of Artificial Intelligence

    INNOVENTION 11: Exploring the Future of Africa’s Creative Industries in the Era of Artificial Intelligence

    Verdant Zeal Group, a leading marketing and communications company, is proud to announce the 11th edition of its annual event, The Innovention Lecture Series, which will take place at the Civic Centre, Ozumba Mbadiwe Road, Victoria Island, Lagos, on 27th October 2023. The theme for this year’s program is “The Future of Africa’s Creative Industries in the Era of Artificial Intelligence”, which underscores the significance of creative industries in Africa and how they intersect with the advancements in artificial intelligence.

    Dr. Adeoye Abodunrin, Principal Partner at Cubed Integrated Management Consulting will bring his 25-year wealth of experience in human behavioural and workplace psychology, information technology, telecommunications, and cyber security into the discourse as the Keynote Speaker, alongside industry experts, Ferdy ‘Ladi Adimefe, founder, Magic Carpet Studios, Dr. Idorenyen Enang, Group CEO, Corporate Shepherds Ltd., Malik Afegbua, Founder, Silkcity Media, Nnenna Onyewuchi, Director of Strategy, Yellow Brick Road and Chisom Nwokwu, Software Engineer at Microsoft. 

    Fireside chats with industry veterans, like Femi Odugbemi and Richard Mofe-Damijo will also provide insights into the convergence of Africa’s creative industries and artificial intelligence to facilitate robust conversations on the challenges and opportunities AI presents in Africa’s creative sectors.

    The Innovention Lecture Series offers a unique networking platform, allowing attendees to connect with peers, industry leaders, and potential collaborators from across Africa, and as an initiative of Verdant Zeal Group, the Innovention Lecture Series is dedicated to nurturing a deeper understanding of Africa’s potential and expanding its horizons beyond borders. 

    This year’s program reaffirms Verdant Zeal’s commitment to driving innovation and fostering sustainable growth in Africa’s creative sectors.

    Industry professionals, innovators, policymakers, and anyone passionate about Africa’s creative potential are welcome to the 11th edition of the Innovention Series.

    For registration and more information, please visit: http://bit.ly/innovention23 or call Chidinma on 08148368770.

  • Investor confidence in Venture capital in Africa stays strong at a time of global uncertainty

    Investor confidence in Venture capital in Africa stays strong at a time of global uncertainty

    …AVCA announces the release of the Venture Capital in Africa report

    Today, the African Private Capital Association (AVCA) announced the release of its 2022 Venture Capital in Africa Report. The anticipated report – which captures VC performance in Africa by deal volume, value, and investment stage – indicates the industry’s resilience during global uncertainty.

    Emerging from a year of robust VC activity, private capital inflows continue to propel economic growth and inclusion across the continent. The new report is a comprehensive overview of Africa’s innovation ecosystem, providing critical insights into the sub-regions, countries, and sectors that have cemented Africa’s rising position as a region for VC activity globally and the increasing importance of early-stage investment on the continent.

    In the wake of the Covid pandemic and the resulting capital injection, central banks responded to looser monetary policy. Interest rates climbed through the year, seeking to rein in rampant inflation against wider economic and geopolitical instability. The preceding shook the global venture funding landscape which shrunk by 32% from the US$681 million invested in 2021.

    The slowdown in the tech sector, historically the largest driver of venture capital activity, contributed to a wider decline. North America and Asia are two key markets for investment in tech, which despite attracting the most capital, also accounted for 73% of the global VC industry’s funding deficit. Africa’s closest socio-economic comparator, Latin America, saw funding reduced by more than half.

    Despite more cautious capital deployment around the globe, capital commitments in Africa remained strong. By comparison, Africa’s 21% year-on-year growth in deal volume was 3 times that recorded in Asia (7%), the only other region to record positive year-on-year growth in deal volume. Looking more broadly, Africa’s single percent drop in deal value from the previous year illustrates how the region was largely unaffected by heightened risk-off investor sentiment experienced in other markets across the globe, which resulted in contractions in start-up funding.

    Africa’s venture funding market was valued at US$6.5 billion across 853 deals, including US$1.3 billion of venture debt. Deal volume in Africa last year experienced an industry record, highlighting a near-decade of continuous growth and a compound annual growth rate (CAGR) of 31% between 2014 and 2022. Contributing to this growth is the increased participation of start-ups raising capital for the first time, accounting for 37% of deal volume. 

    A reduction in big-ticket investments aligns with the global trend of fewer late-stage deals influenced by challenging macroeconomic conditions. However, younger companies in Africa attracted the majority of venture funding across the continent, a testament to accelerated levels of ambition, entrepreneurship, and pioneering enterprise.

    Innovation was rewarded with venture funding, as seed-stage funding accounted for the majority of the continent’s VC deal activity while also demonstrating the highest year-on-year growth. The volume of early-stage (Series A and B) investment deals grew by 25% between 2021 and 2022, increasing median deal value to US$10 million, the highest globally – surpassing North America and Asia and closing the gap with Europe, and signifies Africa’s rapid growth trajectory. With over three-quarters of Africa’s funding originating from foreign investors, primarily composed of fund managers and investment firms based overseas, AVCA’s research indicates sustained investor confidence in the region.

    The repeated investment in businesses was equally encouraging, highlighting investors’ long-term commitment to companies and their onward growth. The report details how 8% of early-stage investments were made in the same company more than once in 2022, while 409 unique companies received additional venture capital following investments in previous years. Continued investments contribute to the sustainability of these companies, the employment they generate, and the increasing impact they deliver, catalysing more robust commercial and social ecosystems.

    A combination of early-stage investment and 15 super-sized deals valued at US$100 million or more represents a growing maturity across the African VC industry. Maintenance of value amidst tighter global VC activity is another indicator of this evolution, supporting positive investor sentiment across the continent. This has also translated into an impetus to break barriers. Despite room for more growth, over a quarter of start-ups that received venture financing were either female-founded or included at least one female in the founding cohort.

    North, West and East Africa dominate deal volume and value

    Of the 786 VC deals, 235 were in West Africa, again recording the highest volume of deals across the continent, followed by North Africa (178) and East Africa (168). With US$1.1 billion, North Africa led deal values across the continent, as East Africa attracted US$899 million and West Africa secured inflows of US$843 million. Powerhouse economies Nigeria, Egypt, South Africa, and Kenya remain the most attractive locations for venture capital investment, accounting for 64% of deal volume and 51% of deal value combined.

    North Africa’s prominence in the venture ecosystem is best highlighted by a CAGR of 57% in investment volume and 120% in investment value between 2017 and 2022. Spearheaded by Egypt, economies including Morocco and Tunisia drove further growth. The three countries saw 170 deals with a reported value of US$798.5 million, dominated by the Information Technology, Consumer Discretionary and Industrials sectors.

    Further, the continued interest in investments across multiple sub-regions is illustrated in the US$1.84 billion of inflows directed to start-ups with a multi-regional geographic footprint. Accounting for 10% of deal volume but a significant 35% of deal value speaks to the size of each investment and more companies’ ability to drive geographic expansion.

    Business as usual for sector focus

    Financials (31%), Information Technology (15%) and Consumer Discretionary (15%) were the three most active sectors by volume for the third year running in 2022, highlighting the prevailing areas of growth. The dominance reflects Africa’s evolving demography, improved connectivity and the changing nature of African consumerism. Driven by technology-enabled services, new products and merchants are reaching new demographics, notably a young, digitally savvy, urban workforce.

    A market opportunity of 300 million Africans within digital banking encapsulates the dominance of the Financials sector. More bespoke solutions and improved accessibility are also catalysing VC activity in this sector, valued at US$2.2 billion in 2022. Industrials, valued at US$819 million, is being driven by mobility technology and commercial and professional services such as software improving human resource management. Investment in these areas exemplifies Africa’s place as a region of interest, innovation and world-class service delivery.

    Sector focus within venture debt shows some similarities, with financials (30%), utilities (28%) and industrials (15%) responsible for the majority of activity. Venture debt also accounted for four super-sized deals, in excess of US$100 million, while venture capital saw 11 deals of this size. 

    Abi Mustapha-Maduakor, Chief Executive Officer, AVCA, commented: “Resistance against rippling effects of Covid-19 and global economic headwinds is a reminder of the high-quality investment opportunities on the continent. Despite lower participation by impact investors last year, as experienced globally, the impact continues to be achieved in Africa through a more connected marketplace that drives tech-enabled solutions from healthcare to education. Intuitive entrepreneurs and efficient capital allocation are transforming lives as a maturing VC industry continues to create longevity and opportunities for African industries and societies to reshape the future.”

  • Zedvance Expands its Scope of Existing Compliance With NDPR Audit Status

    Zedvance Expands its Scope of Existing Compliance With NDPR Audit Status

    Leading consumer lending company, Zedvance Finance Limited has again received the Nigeria Data Protection Regulation (NDPR) compliance status for the implementation of statutory requirements in accordance with its regulatory guidelines.

    The NDPR framework was introduced by the National Information Technology Development Agency (NITDA) with the aim of promoting safe practices for transactions involving the exchange of personal data, protecting the rights of natural persons to data privacy, and preventing the manipulation of personal data. In addition, the guideline is to guarantee that Nigerian businesses remain competitive in international trade while operating within a just legal and regulatory framework for data protection.

    Commenting on the retained compliance status, Ever Obi, the Managing Director of Zedvance Finance Limited, asserted that the company has always placed a high priority on being transparent about its privacy procedures and will continue to provide seamless, data-protected financial solutions to all of its new and existing customers. “We are pleased to have expanded the scope of our pre-existing compliance with the NDPR audit compliance status. Our customers trust in our ability to handle their sensitive information while offering them tailor-made financial solutions within the global best practice,” he stated.

    “We believe it’s critical that we go beyond simply declaring our commitment to privacy — we are continually looking for ways to demonstrate that commitment. Retaining the NDPR compliance status is another validation of our commitment to our customers”, “said the Zedvance boss.

    The Regulation imposes several responsibilities on data controllers and processors to enable them lawfully obtain and process data. Data protection compliance involves understanding not only a company’s policies, contracts, and legal engagements. It also requires an understanding of the company’s information technology, security, audit, and operational system.

    Lukmon Oloyede, Head of Product Marketing & Brand Communication at Zedvance Finance, also added that since it commenced operations in 2014, Zedvance has provided access to personal and business loans to millions of Nigerians through digital lending channels. “New and existing customers of Zedvance can access quick and convenient loans of up to N5 million within 3–5 hours through its self-service digital channels like web app – www.zedvance.com, MoneyPal app (available on Google Play Store and iOS App Store), USSD *5858#, WhatsApp, by chatting with Zee on 09095017151, and/or calling to the Customer Service Centre phone number 07001001000”, he said.  

  • Flour Mills of Nigeria PLC Gets ISO 27001 certification For Robust Cyber Security Framework

    Flour Mills of Nigeria PLC Gets ISO 27001 certification For Robust Cyber Security Framework

    Flour Mills of Nigeria PLC, a leader in Fast-moving consumer goods (FMCG) recently passed the PECB ISO 27001 certification audit for its Information Technology (IT) and cybersecurity framework and policies. This certification has placed Flour Mills of Nigeria PLC as the foremost Nigerian firm in the FMCG sector to be presented with such a certification. ISO 27001 (Information Security Management System) is the most recognized international standard for information security management for any organization globally. It provides clear processes for effective implementation and continuous mitigation of data/security breach for any organization. This certification has placed Flour Mills of Nigeria PLC as an organization that is in line with the global best practices when it has to do with cybersecurity and data breaches.

    The PECB ISO 27001 Certification was facilitated by Nigeria’s cybersecurity firms, Kecam Technologies Limited and DataSixth CyberSecurity Limited. These firms in line with an internationally recognized audit firm conducted a series of interviews, ensured that the right implementation was in place, and also guided the organization to achieve the PECB ISO/27001 certification.

    On the importance of the certification to Flour Mills of Nigeria PLC, Omoboyede Olusanya, Group Managing Director / CEO said ” We appreciate this certification and the credit should go to the team that ensured that this happened. This is a document that shows that we have done something and we are very particular in the areas of cybersecurity. We are desirous to build a world-class organization. It is a process and it is an ingrained process, there is a continuous stride that we have here. We will keep improving.”

    Speaking to the media, Serge Yao, the Group Head of Information Technology (IT) Flour Mills of Nigeria PLC said, “This certification brings reassurance to business’s cybersecurity posture. It proves that we have well-defined system to handle cyber-attacks and cybersecurity. This certification testifies that FMN take seriously the confidentiality of information asset and IT risks are controlled. (Financial loss and damage to reputation are mitigated). We started our cybersecurity program fourteen months ago; the whole organization was engaged, and I want to thank FMN leadership team for the continuous support. It has been a transformational journey for all our employees toward cybersecurity; weak areas were exposed and rectified. Globally, targets for cyber-attacks have shifted toward manufacturing firms; so, we must mitigate IT risks and potential damage. We are the first indigenous FMCG to be certified and many more will follow for sure. This is a beginning, and we will continue to follow the best practices and ensure that we have our recertification next year. “

    On the importance of certification, Bonny Mekwunye, the Chief Executive Officer of, Kecam Technologies Limited, an indigenous Cybersecurity company in Nigeria said “About 10.5 trillion dollars will be the cost of cybercrime by the year 2025, what does this mean, it is basically that many organizations will be exposed to cyber-attack, it is important that organizations must start thinking how to build their cyber security framework such as people, processes and technology. This is where ISO certification comes in. This is a globally recognized body that is designed for organizations that are desirous and serious to look into their cyber security processes. Flour Mills Nigeria PLC has seen the relevance to protect their digital infrastructure and we were invited to provide a consulting service with our other partner which is DataSixth CyberSecurity Limited. This certification means that they are globally recognized in the area of data security just like other big firms in the world. “

    The country manager of DataSixth CyberSecurity Limited, Happiness Obioha said “This certification is all about data security for the organization and the need to have a round the clock continuous protection. This is a bold step for Flour Mills of Nigeria PLC. There is cyber resilience and they are sure that their critical infrastructure is protected. This certification demonstrates that the organization is equal to the task in the area of cybersecurity and it shows that they are digitally inclined. This certification will build a lot of moral, trust and confidence for the organization and their stakeholders.”

    The ISO 27001 is a globally acceptable certification for organizations that are desirous of strengthening the IT and cybersecurity frameworks. It uses a top-down, risk-based approach, and most time it is technology-neutral. The approach is in six phases such as the organization’s security policy, the scope of their Information Security Management System, risk assessment, how they manage identified risks, how objectives and controls are implemented and statement of applicability.

  • FirstBank hosts Webinar on staying Protected in the Information Age

    First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider has announced a webinar to sensitise individuals and businesses with useful information on being protected in today’s digital age.

    The virtual event is scheduled to hold by noon on Friday, 16 April 2021 with “Staying Protected Amidst the Pandemic Chaos” being the topic to be discussed at the event. Registration is ongoing for the event via the link https://firstbanknigeria.zoom.us/webinar/register/WN_PUnqA7enTMG8o0OfOaWxlg

    Today’s world, largely referred to as the digital age has been influenced by information technology which has optimised the way we carry out our individual and business activities.

    However, the current age has been marred by illicit activities like identity theft, internet fraud amongst many others which poses a risk to the safety of individuals and businesses. Attending the webinar will have participants knowledgeably equipped with vital information that will ensure they make informed decisions, thereby promoting their safety whilst staying protected against possible risks and malicious attacks.

    Tope Aladenusi, Chief Strategy Officer & Cyber Risk Services Leader, Deloitte West Africa; Confidence Staveley, Cyber Security Evangelist/ Founder, Cybersafe Foundation and Harrison Nnaji, Chief Information Security Officer, FirstBank will lead the discussion at the event.

    Speaking on the planned Webinar, Dr. Adesola Adeduntan, CEO of FirstBank Group noted that “the world as a global village is associated with not just benefits but also risks of cyberattack and for individuals, businesses and governments to make the best out of the digital and online opportunities, they need to be deliberate in protecting themselves against cybersecurity threats”.

    He further noted that, “in today’s digital age, which the pandemic has accelerated the embrace, cyberattacks are occurring at an alarming rate across the world. As such, no individual, business or government entity with digital and online presence is immune to cyberattacks; and the financial, physical and legal implications of an attack can be significantly upsetting.’’

    In concluding, he enjoined everyone to participate in the forthcoming webinar as it is a viable opportunity to stay informed whilst being abreast with current trends that are pivotal to promoting safety in today’s world that is driven by information technology”.