TechNews
Soludo Commissions Temporary Centre for Solution Innovation District
Report by SANDRA ANI
The Anambra State Governor, Professor Charles Chukwuma Soludo has commissioned the temporary centre of the Solution Innovation District (SID) in Awka.
The Innovation district which is a one-stop shop for youths in the areas of innovation, technology and entrepreneurship, will provide training, incubation, and access to investment to spur the growth of the startup ecosystem in the State.
The district provides access to high-speed internet, steady power supply, conducive and serene environment for innovators, creators, the digital tribe to thrive.
Performing the function, Governor Soludo congratulated the 20,000 Anambra youths who recently participated in the initial training programme of the Solution Innovation District, ‘LevelUp Anambra’ for acquiring various digital skills online.
The Governor thanked Microsoft and Wootlab Foundation for partnering with the State government to make the program a reality, revealing that the current Government House will become the permanent site of the Solution Innovation District once he moves into the new government house currently under construction.
He added that SID is a sign of the state government’s commitment to developing Anambra youths.
“The world may be going east or west, but Nigeria must go through necessary disruptive changes. The removal of subsidy and floating of exchange rate are just some of these changes. It is quite auspicious that we are opening this district at this critical time.
“Our greatest resource is our human capital, and we want to mine it to its infinite elasticity. Only those who can see tomorrow. Only those who plan and work towards it, can control the future. I ask our youths to look up to opportunities in these ongoing disruptive changes.
“In a digital age, human capital appreciates with continuous usage. We must keep on innovating and acquiring multiple scalable skills to control the future.
“We want the youths and children of ndi Anambra to be prepared for this future- invention, innovation, and technology,” Governor Soludo said.
“We must focus on tomorrow. The old order is gone, so let’s not cry to bring it back. We are empowering and training our youths to control the future and become champions of the world.
“Technology is our mantra. We want to get technology to become our culture. Everything technology and technology everywhere!
“The 0.01 criminals that cause nuisance in our society cannot define us. They are completely insignificant,” the Governor stressed.
Earlier, the Special Adviser to the Governor on Innovation and Business Incubation, Ms Chinwe Okoli thanked the Governor for his commitment in actualizing the vision which she explained is quite timely.
“Solution Innovation District is a platform for you to innovate, create, ideate, invent and to give your talents the wings to fly. Yes, many of you here are bundle of talents. You can create wonderful solutions and guess what? Now is the time with S.I.D. SID is a place where you Think outside the box, think even without a box, Think big and Explore your immense potentials.
“At SID, we provide you steady power supply, high speed internet, basic amenities, clean and conducive office space for you to focus on building your dream solutions across sectors.”
“Soludo Innovation District program includes business incubation, digital skills training, business acceleration, angel investment, outsourcing of the best talents out of Anambra. We also have plans to democratize innovation through schools and SID mini hubs in various locations”
The Commissioner for Youth Development, Mr Patrick Agha Mba and the Commissioner for Industry, Mr Christian Udechukwu respectively said that the district is in line with Governor Soludo’s commitment to develop Anambra youths.
The Speaker Anambra State House of Assembly, Rt. Hon. Somtochukwu Udeze, Head of Service, Barr. Theodora Okwy Igwegbe, Chief Protocol Officer, Hon Chinedu Nwoye (Glamour) and other Members of Anambra State Executive Council, Members of Anambra State House of Assembly, Transition Committee Chairmen, among others attended the event.
TechNews
inq.Digital Supports Payments Forum Nigeria [PAFON 1.0]
Inq. Digital Nigeria Limited has been announced as a sponsor of Payments Forum Nigeria [PAFON 1.0] maiden edition holding this Thursday in Lagos.
inq. Digital Nigeria Limited, a subsidiary of inq. Group is an emerging leading digital and cloud solutions provider that delivers simpler seamless solutions to complex business challenges.
With offices in Lagos, Abuja, Port Harcourt and Kano, inq. provides reliable and affordable Intelligent Connectivity, SDN/NFV, Cloud and Digital services (including Edge –AI) for Nigerian businesses including those in the payment space.
Participation is FREE, however, pre-registration is required: https://bit.ly/4c4N19H.
Speaking ahead of Payments Forum Nigeria [PAFON 1,0] scheduled to take place at Oriental Hotel, Lekki Road, Lagos on Thursday, March 21, 2024 by 9am under the theme: “Payments: Trust, Security and Privacy in AI Era”, Mr. Chike Onwuegbuchi, the co-founder of TechCastle Foundation, the organisers, said the goal is to enable information exchange and knowledge sharing on key industry insights issues amongst key stakeholders, with the objective of ensuring a collaborative and proactive approach to push for policies that enable growth, tackling/mitigating fraud and limiting occurrences and losses.
Speakers
The following speakers are lined up for the Forum: Chibuzo Efobi, Director, Payments System Management, Central Bank of Nigeria (CBN); Festus Amede, Chairman, Committee of Chief Information Security Officers of Nigerian Financial institutions (CCISONFI; Dr. Adewale Peter Obadare, Chief Visionary Officer (CVO), Digital Encode Limited; Adetokunbo Omotosho, Chief Executive Officer, Cybervergent; Roosevelt Elias, Founder, Payble; Ikenna Ndugbu, chief compliance officer, Moniepoint MFB, and Peter Evbota, Sales Director at inq. Digital Nigeria Limited.
Payments Forum Nigeria is organised by TechCastle Foundation and sponsored by: inq. Digital Nigeria Limited, Cybervergent, Moniepoint, Digital Encode Limited, Payble with support from the Central Bank of Nigeria (CBN).
Business
Meet Kingsley Adonu
In the dynamic world of entrepreneurship, there are visionaries who not only navigate the business landscape but redefine it. Meet Kingsley Adonu, the Founder and Chief Executive Officer of the SMobile Group, a conglomerate that stands as a beacon of excellence and diversity in the global business arena.
Kingsley Adonu is a visionary entrepreneur and the Founder of the SMobile Group, a conglomerate synonymous with excellence and diversity. As the Chief Executive Officer, he has steered the group to remarkable heights, overseeing a spectrum of businesses that span across Telecommunications, Oil and Gas, Real Estate, Hospitality, Water Production, Agriculture, Technology, E-commerce, Energy, Sports, Entertainment, Education, Health, Logistics and Financial Services, with branches extending globally to UK, USA, China, South Africa, and Canada.
Under Kingsley’s astute leadership, SMobile Group has emerged as a major partner for MTN, evident in the impactful presence of the SMobile brand in the telecommunications landscape. His strategic insights and forward-thinking approach have positioned the group as a dynamic player in multiple industries.
Beyond the boardroom, Kingsley Adonu is a dedicated philanthropist, committed to making a positive impact in communities. His philanthropic efforts extend beyond business, reflecting a deep-seated belief in the responsibility of successful individuals to contribute meaningfully to society.
Kingsley’s influence is not confined to national borders; he has actively participated in numerous international telecom conferences, further enriching his understanding of global industry trends and fostering valuable connections with industry leaders worldwide.
With an unwavering commitment to excellence, Kingsley Adonu continues to inspire and lead the SMobile Group towards new horizons, blending business acumen with a passion for positive societal change.
TechNews
Only 26% of Surveyed Organizations Stopped Data Encryption by Cybercriminals – Sophos
Retail organizations attacked by ransomware increasingly unable to halt an attack in progress, Sophos Survey Finds, writes SANDRA ANI
- This Is the Lowest Rate of Disruption in 3 Years
Sophos, a global leader in innovating and delivering cybersecurity as a service, today shared findings from its sector survey report, “The State of Ransomware in Retail 2023,” which found that only 26% of retail organizations this past year were able to disrupt a ransomware attack before their data was encrypted.
Sophos, a global leader in innovating and delivering cybersecurity as a service, today shared findings from its sector survey report, “The State of Ransomware in Retail 2023,” which found that only 26% of retail organizations this past year were able to disrupt a ransomware attack before their data was encrypted.
This is a three-year low for the sector—a decline from 34% in 2021 and 28% in 2022—suggesting the sector is increasingly unable to halt ransomware attacks already in progress.
“Retailers are losing ground in the battle against ransomware. Ransomware criminals have been encrypting increasingly greater percentages of their retail victims in the last three years, as evidenced by the steadily declining rate of retailers stopping cybercriminal attacks in progress. Retailers must up their defensive game by setting up security that detects and responds to intrusions earlier in the attack chain,” said Chester Wisniewski, director, global field CTO, Sophos.
In addition, the report found that, for those retail organizations that paid the ransom, their median recovery costs (not including the ransom payment) were four times the recovery costs of those that used backups to recover their data ($3,000,000 versus $750,000).
“Forty-three percent of retail victims paid the ransom according to our survey respondents, yet the median recovery cost to victims who paid the ransom was four times the cost to those who used backups and other recovery methods. There are no shortcuts in these situations and rebuilding systems is almost always required. It’s better to deprive the criminals of their spoils and build back better,” said Wisniewski.
Additional key findings from the report include:
- In line with a broader, cross-sector trend, the retail sector experienced its highest rate of encryption over the past three years, with 71% of those organizations targeted by ransomware stating that attackers successfully encrypted their data
- The percentage of retail organizations attacked by ransomware declined from 77% last year to 69% this year
- The percentage of retail organizations that recovered in less than a day decreased from 15% to 9% this year, while the percentage of retail organizations that took more than a month to recover increased from 17% to 21%
Sophos recommends the following best practices to help defend against ransomware and other cyberattacks:
- Strengthen defensive shields with:
- Security tools that defend against the most common attack vectors, including endpoint protection with strong anti-ransomware and anti-exploit capabilities
- Zero Trust Network Access (ZTNA) to thwart the abuse of compromised credentials
- Adaptive technologies that respond automatically to attacks, disrupting adversaries and buying defenders time to respond
- 24/7 threat detection, investigation and response, whether delivered in-house or by a specialized Managed Detection and Response (MDR) provider
- Optimize attack preparation, including regularly backing up, practicing recovering data from backups and maintaining an up-to-date incident response plan
- Maintain security hygiene, including timely patching and regularly reviewing security tool configurations
To learn more about the State of Ransomware in Retail 2023, download the full report from Sophos.com.
The State of Ransomware 2023 survey polled 3,000 IT/cybersecurity leaders in organizations with between 100 and 5,000 employees, including 355 from the retail sector, across 14 countries in the Americas, EMEA and Asia Pacific.
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