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Nigeria’s .ng Domain Name Adoption Hits 100,000

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NiRA
  • Nigeria’s .ng Domain Name Adoption Hits 100,000

The adoption and use of the Country Code Top Level Domain name (ccTLD), Nigeria’s .ng, is on the upward swing, as the figure hits 100, 000.This statistic was given yesterday by the Nigeria Internet Registration Association (NiRA), when the management team paid a courtesy visit to Rutam House.

The increase witnessed in the adoption of .ng may have shown a gradual decline in the patronage of foreign domain names by individuals and businesses in Nigeria, which has been the norm for years and had subsequently, resulted in increased capital flight from the economy.

Countries around the world strive to promote their respective domain systems in order to retain substantial part of the Internet expenditure in-country.NiRA team, led by the President, Sunday Folayan, informed that Nigeria’s .ng ranked second largest after South Africa, which has about one million registered .za.in Africa.

Folayan, who described NiRA as one of the best successes and story of Public Private Partnership in Nigeria, said the new data showed an improvement in the number of domain registrations, stressing that Nigerians have re-strategised in their plans for promoting their online business and hence there is improvement in the domain name count.

The NiRA President commended media for championing the course of .ng in the country, especially, as it relates to adoption and several print privileges that the domain name has enjoyed through the platform.

Speaking more on the .ng adoption, Head, Business Development, NiRA, Mrs. Kemi Adepoju, said the association is doing everything possible to further populate its use in Nigeria, which include promotions, use of youths as ambassador, to identify and convince companies not using the domain name to adopt it; use of the social media platforms to passage messages and enlighten the public.

The Chief Operating Officer of NiRA, Mrs. Edith Udeagwu, informed that Nigeria will be hosting this year’s African Network Information Center (AFRINIC) open public policy meetings from November 27 to December 4th in Lagos. AFRINIC is the regional Internet registry (RIR) for Africa. It hosts two open public policy meetings every year in various locations throughout its service region.

Udeagwu, who disclosed that Folayan doubles as the Chairman of AFRINIC board, informed that several issues that borders on Internet Protocol (IP) development, especially migration from IPv4 to IPv6 will be discussed, where experts will sensitise on what Nigeria and other African countries must do to migrate as fast as possible to avoid Internet blackout.

Giving more insight on the dangers of not migrating, Head, Technical Department, Abubakar Muhammed, Nigeria must do everything possible to avoid Internet shut, saying that the consequences are dire.

Muhammed said the AFRINIC conference will be opening another vista in Internet development across the world, “so Nigeria must not be left behind in adoption.”

Folayan added that the AFRINIC meetings provide unique opportunities for Internet-related individuals and organisations to gather and to discuss the policies governing Internet number resource distribution in the African region. The meetings, he added, would serve as platforms to share technical knowledge, and to attend workshops and tutorials.

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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Fintech

Flutterwave Celebrates Inclusion in CNBC’s Top 250 Global Fintechs

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Flutterwave has been recognized as one of the Top 250 Fintech companies globally by CNBC and Statista.

Joining the ranks of industry giants like Ali Pay, Klarna, Piggyvest, and Mastercard, this accolade underscores Flutterwave’s impact on the financial technology sector.

This honor follows Flutterwave’s recent inclusion in Fast Company’s Most Innovative Companies list, highlighting the company’s pivotal role in transforming Africa’s payment landscape.

The recognition is a testament to Flutterwave’s dedication to innovation and excellence in providing seamless payment solutions across the continent.

Expressing gratitude, Flutterwave acknowledged its talented team, supportive board, reliable partners, and loyal customers for contributing to this success.

The company continues to drive progress in the fintech industry, reinforcing its commitment to enhancing financial accessibility and inclusion in Africa and beyond.

Flutterwave’s recognition on these prestigious lists marks a proud moment and a significant milestone in its journey, reflecting the company’s growing influence and leadership in the global fintech arena.

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Startups

Google Leads $250 Million Funding Round for Glance

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A logo is pictured at Google's European Engineering Center in Zurich

Google is leading a $250 million funding round for Glance, a mobile content provider.

This infusion of capital aims to expand Glance’s reach and solidify its market position amidst growing competition.

Glance, a subsidiary of InMobi Group, offers a unique service that delivers news, entertainment, and other content directly to users’ mobile screens without unlocking their devices.

With a user base exceeding 300 million across India, the US, Japan, and Indonesia, the startup has gained significant traction since its inception in 2019.

The funding round, expected to close in the coming weeks, marks a continued partnership between Google and Glance.

Google initially invested in the company in 2020, and this latest round will further enhance Glance’s capabilities to innovate and reach new audiences.

This investment reflects Google’s strategic interest in India, the world’s most populous nation, where it competes with tech giants like Microsoft, Meta, and Amazon.

With India’s rapidly growing middle class and increasing smartphone adoption, the market presents vast opportunities for digital expansion.

The support from Google comes on the heels of a previous $200 million investment by Mukesh Ambani, Asia’s wealthiest individual, which valued Glance at over $1 billion.

The startup’s largest stakeholder, InMobi, continues to thrive as a pioneer in mobile advertising, with Glance benefiting from its expertise and resources.

As Glance prepares for this new phase of growth, it stands poised to redefine how content is consumed on mobile devices worldwide.

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Cyber Threats Surge as Nigeria’s Digital Economy Expands

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As Nigeria’s digital economy flourishes, it faces escalating cyber threats, prompting the Federal Government to issue 33 cyberattack advisories in the past year.

These warnings, issued by the Nigeria Computer and Emergency Response Team (ngCERT), highlight the growing vulnerability of the nation’s digital infrastructure.

Since July 2023, ngCERT has alerted Nigerians to new attack methods and vulnerabilities. With 22 advisories issued in 2024 alone, the surge in cyberattacks coincides with the accelerated digitization spurred by the COVID-19 pandemic.

Monthly internet usage in Nigeria soared from 125,149.86 terabytes in December 2019 to 753,388.77 terabytes in March 2024.

The National Information Technology Development Agency (NITDA) notes that increased digitalization has heightened cybersecurity risks, necessitating robust protective measures.

According to Check Point Research, Nigerian businesses face approximately 2,308 attacks weekly across all sectors.

The advisories reveal various cyber threats, including ransomware and banking trojans. A recent warning highlighted Grandoreiro, a malware targeting over 1,500 banks globally, affecting 41 banking applications in Nigeria alone.

These attacks aim to steal sensitive financial data, potentially causing significant financial losses.

Nigeria’s critical infrastructure is also under threat. In August, pro-Nigerien hackers attempted to disrupt MTN Nigeria’s network, although they were unsuccessful.

During the 2023 elections, the government recorded 12.99 million cyberattacks, underscoring the scale of the threat.

Cybercrime costs Nigeria about $500 million annually. This includes data damage, stolen money, lost productivity, and post-attack disruptions.

The Federal Bureau of Investigation ranked Nigeria as the 16th country worst affected by cybercrime in 2020.

Experts emphasize the need for stronger cybersecurity measures. Adesina Sodiya, a professor of Computer Science and Information Security, warns that cyberattacks will continue to grow in sophistication.

He stresses the importance of building a cybersecurity curriculum and involving experts in creating effective strategies.

In response, NITDA plans to reduce cyberattacks by 40% by 2027. “As we digitize, we must build with security in mind,” said Kashifu Inuwa, director-general of NITDA.

The agency aims to implement comprehensive strategies to protect Nigeria’s burgeoning digital economy.

As Nigeria’s digital economy expands, it must address the growing cyber threats that accompany this progress. By enhancing cybersecurity measures and fostering collaboration among stakeholders, Nigeria can safeguard its digital future.

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