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Nigeria Lost $450m to 3500 Cyber Attacks in 2015— FG

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  • Nigeria Lost $450m to 3500 Cyber Attacks in 2015

The federal government has lamented the loss of over $450 million dollars to cyber attacks in 2015 alone, saying drastic measures must be taken to arrest the trend.

Minister of Communications Adebayo Shittu, stated this in Abuja at a conference on “Cyber Security, Technology Optimization and Development” organized by the Abuja chapter of the group, Information Systems Audit and Control Association, ISACA.

According to him, Nigeria experienced a total of 3,500 cyber attacks in 2015, leading “to a loss of about $450 million.”

The Communications Minister said that the ICT sector contributed 12.62 per cent of Nigeria’s GDP in the second quarter of 2016 and announced that the Federal Government was putting together a national broadband policy “to ensure an 18 per cent broadband penetration by 2018, up from the current 6 per cent.

He charged ISACA to ensure proper use of its applications to enhance a secure cyberspace.

“I am aware of the many strides that ISACA has achieved in the USA with the contributions of the use of its COBIT in the governance and management of public institutions.

‘’My personal challenge to ISACA, Abuja, is to ensure that such efforts are domesticated in Nigeria. We must influence our space, define our space and prepare adequately to defend it. We want to see not just a working technology and applications, but we want to be assured that such technologies are safe and used properly,” the minister said.

On his part, the Director General of National Information Technology Development Agency, NITDA, Dr Isa Ibrahim, said his agency would be working in close collaboration with ISACA to evolve solutions that will address the menace, saying Nigeria cannot function properly if it is vulnerable to cyber attacks.

The president of ISACA, Abuja chapter, Mr Chimenka Ezeribe, said ISACA was committed to promoting positive use of technology to improve the quality of life for individuals and organizations.

“While we do not downplay the realities of security incidences, we want everyone to achieve the full potential of technology. The tasks before us are enormous but very possible and we must provide practical steps to assist individuals, organizations and the society at large realise the benefits of technology”, he said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Government

Senate Suspends Senator Abdul Ningi for 3 Months Over Budget Padding Allegations

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Abdul-Ahmed-Ningi

The Senate has announced the suspension of Senator Abdul Ningi for three months following his allegations of budget padding to the tune of N3.7 trillion in the 2024 budget.

Ningi, who represents Bauchi Central and chairs the Senate Committee on Population, had made the claims in a recent interview with the Hausa service of the BBC.

During a plenary session, Senator Olamilekan Adeola, the Chairman of the Senate Committee on Appropriations, raised a motion to address Ningi’s allegations, citing the urgent need to address what he termed as “false allegations.”

The transcript of Ningi’s interview was read on the Senate floor, prompting deliberation on the appropriate action to take.

Initially, Senator Jimoh Ibrahim proposed a 12-month suspension for Ningi, but Senator Chris Ekpeyong moved to reduce it to six months.

Eventually, Senator Garba Maidoki amended the motion further, suggesting a three-month suspension.

The amended motion was put to a voice vote, and Senate President Godswill Akpabio announced the decision to suspend Ningi for three months.

Following the ruling, Ningi was escorted out of the Senate chamber by the Sergeants-at-arms.

The suspension comes amidst division within the Senate over Ningi’s claims, with some senators disowning his allegations and calling for a thorough investigation.

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Ekiti Governor Unveils Multi-Billion Naira Relief Programmes Amid Economic Crisis

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Biodun Oyebanji

Ekiti State Governor, Mr. Biodun Abayomi Oyebanji, has announced a comprehensive relief package aimed at alleviating the hardship faced by the people of the state.

The relief programs encompass various sectors to cushion the impact of the economic downturn.

One of the key initiatives entails clearing salary arrears amounting to over N2.7 billion owed to both State and Local Government workers.

This move signifies the government’s commitment to addressing the financial burdens faced by its workforce.

Furthermore, Governor Oyebanji has approved a substantial increase of N600 million per month in the subvention of autonomous institutions, including the Judiciary and tertiary institutions.

This augmentation is intended to enable these institutions to implement wage awards in alignment with State and Local Government workers’ salaries.

In addition to addressing salary arrears, the relief programs extend to pensioners, with the approval of payments totaling N1.5 billion for two months’ pension arrears.

Moreover, an increase in the monthly gratuity payment to state pensioners and local government pensioners will provide additional financial support, totaling N200 million monthly.

The relief initiatives also encompass agricultural and small-scale business sectors.

The allocation of funds for food production and livestock transformation projects underscores the government’s commitment to enhancing food security and economic sustainability at the grassroots level.

Governor Oyebanji emphasized that these relief programs are part of the state’s concerted efforts to mitigate the adverse effects of the economic downturn and foster shared prosperity.

The comprehensive nature of the initiatives reflects a proactive approach towards addressing the challenges faced by Ekiti State residents.

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President Tinubu Orders Immediate Settlement of N342m Electricity Bill for Presidential Villa

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President Bola Tinubu has directed the prompt settlement of a N342 million outstanding electricity bill owed by the Presidential Villa to the Abuja Electricity Distribution Company (AEDC).

This move comes in response to the reconciliation of accounts between the State House Management and the AEDC.

The AEDC had earlier threatened to disconnect electricity services to the Presidential Villa and 86 Federal Government Ministries, Departments, and Agencies (MDAs) over a total outstanding debt of N47.20 billion as of December 2023.

Contrary to the initial claim by the AEDC that the State House owed N923 million in electricity bills, the Presidency clarified that the actual outstanding amount is N342.35 million.

This discrepancy underscores the importance of accurate accounting and reconciliation between entities.

In a statement signed by President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, the Presidency affirmed the commitment to settle the debt promptly.

Chief of Staff Femi Gbajabiamila assured that the debt would be paid to the AEDC before the end of the week.

The directive from the Presidency extends beyond the State House, as Gbajabiamila urged other MDAs to reconcile their accounts with the AEDC and settle their outstanding electricity bills.

The AEDC, on its part, issued a 10-day notice to the affected government agencies to settle their debts or face disconnection.

This development highlights the importance of financial accountability and responsible management of public utilities.

It also underscores the necessity for government entities to fulfill their financial obligations to service providers promptly, ensuring uninterrupted services and avoiding potential disruptions.

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