Science & Technology

Pantami says cybercrime travels at speed of light, advocates awareness

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The Minister of Communications and Digital Economy, Dr Isa Pantami, has said that cybercrime travels at the speed of light while cyber security travels at the speed of law.


He stated this at the maiden Cyber Security Conference organised by the Nigerian Communications Commission (NCC), on Thursday in Abuja noting that awareness was key to secure cyberspace.

The conference was tagged: “Strengthening the Security and Resilience of the Nation’s Communications Infrastructure’’

The minister further explained that the bill to check the threat was not something that could be enacted within a day or two, adding that cybercrime did not respect the law.

“We should ensure that we secure our cyberspace through creating awareness; awareness is key, let people understand that when you go online you are exposed.

“You need to take some precautions to ensure that you minimise the risks of exposing yourself to it.

“If we create that awareness, it will go a long way in reducing the cybercrime we have in Nigeria.

“Many people do not know the implication of receiving emails without knowing the source and just go and open the attachment.

“This is one of the ways that our systems are being compromised and secondly through using pirated supplies.

“We usually look at the cheapest one. If we go for the cheaper one, the probability of compromising our system is high.

“We need to be updating our applications whether on our Smart phones or anywhere,” Pantami said.

Earlier, the Executive Vice Chairman (EVC) NCC, Prof. Umar Danbatta, said that the internet provided a vast array of prospects to individuals irrespective of their status.

Danbatta said that with the growing volume of adoption of technologies and broad nature of the internet, came the sophistication of cyber-attacks.

He noted that such allowed cyber criminals to attack people outside their geographical locations.

“From social networking to businesses, to research and development, and so much more, all can be exploited by cyber criminals to carryout crimes over the medium.

He said that both technical measures and appropriate legal instruments must be put in place to enhance the resilience and integrity of ICT infrastructure and also to safeguard cyberspace users.

The EVC informed the gathering that an e-fraud desk would be created in his organization to serve as a platform for reporting cases to the security agencies for further investigations and prosecution.

According to Danbatta, the NCC is committed to making sure that the Internet has less cyber criminals, through educating members of the public on the negative impacts of cybercrime.

He stressed the need to limit the impacts by putting in place some initiatives, such as:

“To collaborate with relevant stakeholders to embark on a nationwide Cyber security awareness campaign starting with the FCT and extending to all 36 states of the federation, targeting at young school children.

“To enlighten them on Internet etiquettes, Cybercrime and its Penalties in line with the Nigerian Cybercrime Act 2015, and protection against Cybercriminals.

“Establishmet of a Cyber Security Incidence Response Team (CSIRT) Centre to help serve as the single national point of contact for international coordination of Cyber security incidents in Nigeria.

“To create Technical Framework for the Use of Social Media Network in Nigeria.

Danbatta said the objective “is to provide the baseline for Social Media governance, policy, and procedures to guide individuals, businesses or the government on the use of social media.”

Nigeria News Agency reports that the conference was to introduce cyber insurance, bridging the cyber workforce gap and strengthening national cooperation.

It was also for exchange of information and development of comprehensive strategies to curb cybercrimes.

NAN also reports that the programme, which will be annual, will address the cyber security challenges confronting the communications industry in Nigeria.

Edited By: Donald Ugwu

https://nnn.ng/pantami-says-cybercrime-travels-at-speed-of-light-advocates-awareness/

Politics

Obaseki’s victory indicates new political era – Oyebode

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An International Law and Jurisprudence scholar, Prof. Akin Oyebode, says the victory of Mr Godwin Obaseki in the just-concluded Edo gubernatorial polls has wiped off god-father politics in Nigeria’s political culture.


Oyebode made the statement while speaking in a telephone interview with the News Agency of Nigeria in Awka on Monday on the outcome of the Edo governorship election.

According to him, the result of the election has opened a new and better era in the polity.

The Independent National Electoral Commission (INEC) declared Obaseki of the PDP winner of the election, held on Sept. 19.

Obaseki polled 307,955 votes to defeat his closest rival, Mr Osagie Ize-Iyamu of the APC, who polled 223,619 votes.

According to Oyebode, the outcome of the election is not unexpected.

“The nation’s political slate has been wiped clean.

“This should wake up the APC from its illusion and slumber and make it not to take things for granted.

“The party should become sensitive to the hopes, aspirations and interests of the suffering masses.”

Oyebode also lauded INEC, the police and other security agencies for their exemplary conduct during the election.

Edited By: Benson Iziama/Silas Nwoha
Source: NAN

 

 

 

 

https://nnn.ng/obasekis-victory-indicates-new-political-era-oyebode/
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CBN

Financial expert advises CBN on interest rates as MPC holds

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As CBN holds its 275th quarterly Monetary Policy Committee (MPC) meeting on Monday, a Financial expert, Mr Okechukwu Unegbe called for reduction of  lending rates by banks to encourage investment.


Unegbe, who is a Past President of Chattered Institute of Bankers of Nigeria (CIBN) made the call in an interview with News Agency of Nigeria in Abuja.

He suggested that the lending rate should be reviewed downwards from its present rate of about 15 per cent to encourage investor borrowings.

He said that such a step would improve job creation, poverty reduction and economic growth.

“The MPC should look at the interest rate issue, particularly lending rates by the banks.

“Deposit rate is almost zero but the lending rate is still high.

“They should consider a downward review of the lending rate so as to encourage borrowing for investment,’’ he said.

Unegbe, a former Managing Director of the defunct Citizens International Bank also urged the CBN to initiate a credit culture in Nigeria as way of further improving the economy.

He said that the bank should work with government to find ways of making resources available to help businesses survive as a result of challenges posed by COVID-19.

CBN should initiate a credit culture in Nigeria so that people can raise small monies for certain expenditure.

“There is also the need to fund the economy by assisting businesses survive economic challenges posed by COVID-19.

“That is what the American government did recently by setting aside two trillion dollars to support businesses.

“Some private schools in Nigeria, for instance, will have to close down if they do not get some form of palliatives from government,’’ he said.

He urged the committee to come out with policies through which the CBN, working with the fiscal sector, could generate employment and reduce poverty.

NAN reports that the MPC is the highest policy making committee of the CBN, which has the responsibility of formulating monetary and credit policy functions.

The 11 member committee comprises the governor of the bank who is the chairman and the four deputy governors of the bank.

Others are two members of the board of directors of the bank, three members appointed by the president, and two members appointed by the governor.

The MPC was inaugurated in 2005.  

Edited Grace Yussuf

https://nnn.ng/financial-expert-advises-cbn-on-interest-rates-as-mpc-holds/
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Economy

NASSI lauds FG on forex ban for food importers

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The National Association of Small Scale Industrialists (NASSI), has lauded the Federal Government’s ban on Foreign Exchange (Forex) allocation for importers of food items saying that the action will help Nigeria attain food sufficiency and boost exportation.


NASSI National President Chief Solomon Vongfa, said this in an interview with the News Agency of Nigeria , on Monday, in Abuja.

President Muhammadu Buhari had directed the Central Bank of Nigeria (CBN) not to implement any plan geared towards providing foreign exchange for importers of food items and fertilisers into the country.

The entrepreneur, while commending the development also urged the government to extend the patriotic stance to other sectors.

NASSI has always taken the position that Nigeria has the naturally endowed capacity to be the bread basket of Africa.

“And this means not only can we achieve self sufficiency in food production but also be a net exporter of both agricultural commodities and processed food products too,” Vongfa said.

According to him, Nigeria is already bleeding enough forex in the energy sector where we import virtually all petroleum products in spite of huge crude oil reserves and production capacity.

This, he said had put constant pressure on the naira value as government struggled to meet forex demand from other sectors, adding that forex demand routinely outstripped supply.

He said the situation had also put pressure on foreign reserves which impacted on Nigeria’s global ratings.

“We at NASSI therefore support government position here but as a footnote NASSI also wants the federal government to extend this patriotic stance to other sectors.

“So that Nigerian entrepreneurs are patronised by the state over and above imports as a matter of enforced state policy.

“An example of what government should not be doing is funding the importation of fully built Toyota Camry vehicles and others for the National Assembly while we have Nigerian car plants ready and willing to meet such orders,” he said.

The NASSI president, however, said such actions tend to demoralise entrepreneurs and dampen their patriotic zeal that it needed to foster or encourage.

https://nnn.ng/nassi-lauds-fg-on-forex-ban-for-food-importers/
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COVID-19

We are not deterred by COVID-19 to mark [email protected] – NUTAG

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The Nigeria Union of Traders Association in Ghana (NUTAG) says it is not deterred by the coronavirus pandemic to mark Nigeria’s 60th independence anniversary.


The President of NUTAG, Mr Chukwuemeka Nnaji, disclosed this in a telephone interview with the News Agency of Nigeria in Abuja on Monday.

Nnaji spoke on the sideline of preparations for Oct. 1 independence celebrations.

According to him, many programmes have been lined-up by Nigerians in Ghana to mark Nigeria’s independence in line with COVID-19 protocols.

“With or without COVID-19, Nigerians and friends of Nigeria in different sectors of Ghana, are ready to celebrate [email protected],’’ Nnaji said.

He listed an award ceremony of 60 most impactful Nigerians in Ghana as one of the events scheduled to hold on Oct. 3 as part of the anniversary.

“We always mark our independence in Ghana every year.

“Sixty years is special to the human race and as Nigerians, we are very unique when it comes to showcasing patriotism.’’

NAN reports that President Muhammadu Buhari on Sept. 16, unveiled the logo and theme for the 60th independence anniversary.

Edited By: Remi Koleoso/Abdulfatah Babatunde
Source: NAN

https://nnn.ng/we-are-not-deterred-by-covid-19-to-mark-email-protected-nutag/
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