NITDA, NAICOM COLLABORATE TO INSTITUTIONALISE CYBER INSURANCE AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The National Information Technology Development Agency (NITDA) is exploring partnership and collaboration with the National Insurance Commission (NAICOM) on how to institutionalise Cyber Security Insurance in the country.
DG, NITDA, Kashifu Inuwa, CCIE with the Commissioner for Insurance, NAICOM, Mr Olorundare Sunday Thomas, after the Courtesy visit.
The Director-General of NITDA, Kashifu Inuwa Abdullahi, CCIE who led the Agency’s management team to the Commission on a courtesy visit reiterated the fact that the insurance cover is long overdue, especially as it is virtually impossible for any business to operate without connecting to the internet.
According to Inuwa, almost every adult in Nigeria move around with “a super computer in his/her hand or pockets”, which invariably exposes one to cybercrimes and criminals.
While quoting some reports that the global cyber crime as of 2021 was almost $6TR and projected to grow by 15% year-on-year, the DG said that as of today the figures have increased to about $8TR and will reach $10.5 TR by 2025. “Cyber crime, if you can quantify it as a nation, will be the third largest economy, and it is bigger than all crimes combined together, in terms of cost”.
“In view of this, we need to institutionalise Cyber Insurance because Nigeria loses about N200B to cyber crime anually, imagine that just 0.0% of the Nation’s Gross Domestic Product (GDP) is worth more than N200B”, Inuwa noted.
Inuwa said “looking at this and the rate services are being digitised, coupled with the push for government digital services as well as COVID-19, the pace we are digitising has been accelerated; the future is therefore arriving faster than expected”.
The DG who emphasised the importance of securing the Insurance, averred that whereas, the commission has the primary mandate of insurance, the Agency also has certain mandates relating to cyber insurance, including development of Information Technology in Nigeria which Cyber Security is an integral part.
The NITDA Boss expressed the hope that once the insurance is gotten, the country will be well positioned to mitigate the recurring losses and the ecosystem as well as the quality of systems in Nigeria will be strengthened and upgraded respectively.
“Achieving this feat will also translate to strengthening developers of systems to up their game, by taking it through series of tests before taking their products to the market”.
“Many countries have institutionalised cyber insurance, Africa inclusive; South Africa, Kenya and Egypt have done so. Looking at our status in Africa as the largest economy and having the most vibrant digital ecosystem as well as the fastest growing digital economy, I think it is the right time for us also to institutionalise Cyber Insurance in Nigeria”, the DG maintained.
The Commissioner for Insurance/Chief Executive Officer of the National Insurance Commission (NAICOM), Olorundare Sunday Thomas who gave a nod to the proposal brought forward by the NITDA DG, noted that he has always been talking to relevant stakeholders to look at the positive side of risks associated with technology.
“Looking at the volume of data that are driven daily, cost associated with data, magnitude and impact of the economy of nations, if there should be any economy that should be more concerned about cybercrime, it should be Nigeria”.
“The more we look forward to using technology to resolve many problems, we must also seize the opportunity to increase our workforce”, Thomas added.
The CFI assured the NITDA team of the Commission’s readiness to partner with the Agency towards institutionalising cyber insurance.
Both teams were unanimous in hitting the ground running as they agreed to create a committee of six members, three from each organisation to ascertain the modus operandi and fashion out the terms of reference.
Eid-el-Kabir: JANDOR Felicitates with Lagosians, Expresses Hope in Nigeria’s Future
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The Lead Visioner of the Lagos4Lagos Movement and former PDP Governorship Candidate in Lagos State, Dr. Abdul-Azeez Olajide Adediran (JANDOR), extends warm greetings to all Muslim faithful and the good people of Lagos State on the occasion of Eid-el-Kabir.
Jandor
Dr. Adediran describes the essence of the celebration as an act of obedience and total submission to the will of the Almighty Allah. He notes that the unwavering trust exhibited by Prophet Ibrahim by his willingness to sacrifice his son as a show of total respect to God is an assurance to all Lagosians that whosoever put his trust in God will not be put to shame.
He acknowledges the Nigerian economic rebound as a fulfillment of promises made by Mr. President at the early stage of this administration when the removal of the fuel subsidy and Forex unification took their toll on the Nation’s economy.
JANDOR posits that while the road may seem tough today, there are genuine efforts being made by the President Bola Ahmed Tinubu-led administration to reposition the country and make life better for all Nigerians.
He urges citizens to remain steadfast and supportive of initiatives aimed at reforming key sectors of the economy, improving infrastructure, and ensuring security across the country.
“Let us continue to stay united and resilient as we journey toward a more prosperous Nigeria. Lagosians have always shown strength in difficult times, and I believe our collective resolve will help shape a brighter tomorrow. I wish all Muslim Ummah a peaceful and joyous celebration as we pray for continuous peace, progress, and prosperity in Lagos State and Nigeria at large,” he said.
Ileya Festival: Olori Afolabi launches food bank, distributes rice to Apomu people
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Olori Janet Afolabi, CNN award winning journalist and Queen of Apomu Kingdom, has distributed 150 bags of 50kg rice to Apomu people for the celebration of Ileya Festival, just as she launched a foot bank in the ancient city in Osun State.
Olori Afolabi said the food distribution is in response to the pressing issue of hunger in rural communities.
She said: “It is aimed at providing immediate relief to those in need and support rural families.
“Every package of rice represents a moment of relief.
“As we distribute the food we are not just meeting a basic need we are offering compassion, care and kindness.
“We are not just filling stomachs, we are filling hearts with hope because every act of kindness no matter how small can have a profound impact.”
The rice was distributed at the launch of Olori Janet Afolabi Foundation Food Bank on June 3, 2024 at the palace of the Alapomu of Apomu, the headquarters of Isokan Local Government Area of Osun State.
Olori Afolabi said: “We are honoured to launch this food bank to address hunger and promote well being in our community.
“We recognise that hunger is a reality for many in our community and we want to do something about.
“The food bank will offer a range of services, which include: food distribution to indigent families and support programmes on nutrition education and counselling.
“Our Food bank is more than a pantry.
“It is a symbol of hope.
“We are reminding those in need that they are seen, heard, and valued.
“The food bank is a testament of our dedication to serve the community.”
Minister of Information to Chair GOCOP Book Launch in Abuja
Lago
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The Minister of Information and National Orientation, Alhaji Mohammed Idris, is to chair the public presentation of the book Nigeria Media Renaissance: GOCOP Perspective on Online Publishing, a publication of Guild of Corporate Online Publishers (GOCOP).
Idris
The event is scheduled for 110am on Tuesday June 17, 2025 at the Continental Hotel, Abuja.
President of GOCOP, Maureen Chigbo, who confirmed this development said the book presentation will be graced by eminent personalities from all walks of life, including government officials, captains of industry, media practitioners and other professionals, representatives of international organisations, directors of non-governmental organisations.
Alhaji Idris was sworn in as Minister of Information and National Orientation on August 21, 2023, following his appointment by President Bola Ahmed Tinubu. With over three decades of experience in broadcasting, newspapering, public relations, and advertising, Idris has brought a wealth of expertise to the role.
His academic background includes degrees in English Studies from Uthman Danfodio University, Sokoto, and Bayero University, Kano. As an entrepreneur, he established notable media outlets such as Blueprint, WE FM radio station, and Rapid Television in Abuja. He is a prominent figure in professional associations such as National Institute of Public Relations, African Public Relations Association, Public Relations Consultants Association of Nigeria, and Newspaper Proprietors Association of Nigeria.
As the founder of Bifocal Communications, a leading public relations and communications consultancy, Idris has served both local and transnational corporations.
Beyond his professional endeavours, Idris is committed to social responsibility through the Mohammed Idris Malagi (MIM) Foundation, which has positively impacted many lives. As a reward for his contributions to the development of his immediate environment and beyond, The Etsu Nupe conferred “Kaakaki Nupe” on him.
A press statement by the GOCOP Publicity Secretary, Ogbuefi Remmy Nweke, quoted the GOCOP president as saying that the proceeds of the book will be used to fund the N2.3 billion GOCOP MEDIA CENTRE, a multi-purpose resource centre comprising a secretariat, a 21st Century library and event halls, among others.
Nweke further noted that the Guild of Corporate Online Publishers (GOCOP) was established to promote professionalism in online publishing, ensuring its members uphold the fundamental principles of journalism.
Comprising seasoned editors and senior journalists with distinguished career in print and electronic media, GOCOP’s membership has traversed the online publishing, recognizing its pivotal role in shaping the future of journalism globally. With 120 corporate publishers as members, GOCOP continues to uphold the highest standards of online journalism