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IFIC’22: Nigeria convenes global stakeholders to accelerate financial inclusion 

IFIC’22: Nigeria convenes global stakeholders to accelerate financial inclusion 

 

 

 The National Financial Inclusion Steering Committee headed by the Central Bank of Nigeria (CBN) will host Nigeria’s maiden International Financial Inclusion Conference (IFIC’22) on the 24th and 25th of November 2022 in Abuja, Nigeria. Themed “Financial Inclusion for all: Scaling Innovative Digital Models”, the conference is the first to be held since the country launched its National Financial Inclusion Strategy (NFIS) in 2012.

The NFIS set the target for financial inclusion in Nigeria at 80.0% by 2020. Since its launch, advancements have been recorded in financial inclusion, resulting in the exclusion rate dropping from 46.3% in 2010 to 35.9% in 2020 (despite significant annual growth in the eligible bankable population per annum) according to the Access to Financial Services Survey conducted by EFINA. The national target for inclusion has since been revised to 95% by 2024.

This progress has been possible due to significant evolution of the Nigerian payments and financial system driven by rapid technological innovation, emergence of a vibrant digital economy and the proactive regulatory policies of the CBN and other policymakers. The ever-increasing diversity of participants, products and services deployed within the financial ecosystem presents unique opportunities to fast-track the expansion of financial inclusion to a greater number of Nigerians, closing the inclusion gaps in selected segments such as the youth, rural dwellers and women.  

Speaking about IFIC’22, Chair of the National Financial Inclusion Steering Committee and Governor of the Central Bank of Nigeria (CBN), Godwin I. Emefiele said, “We are excited to host the maiden International Financial Inclusion Conference in Nigeria. The conference presents a unique opportunity to showcase our financial inclusion journey, particularly the innovative use cases that continue to emerge within the dynamic payments and financial system in the country. These will be important as we work to ensure 95% of Nigerians are financially included by 2024.

“The conference also creates a platform to spotlight other country experiences, the role of policy innovation, digital technology and out- of-the-box approaches in tackling exclusion in underserved segments, and the strategic importance of public-private partnerships to promote digital financial services and economic sustainability.”

The International Financial Inclusion Conference 2022 therefore, brings together delegates, experts and speakers across the world to examine the opportunities, identifying concrete solutions and interventions that would ensure achievement of the nation’s financial inclusion objectives. 

Distinguished personalities expected at the conference include President Muhammad’s Buhari, GCFR, (Special Guest of Honour), Godwin I Emefiele, Governor, Central Bank of Nigeria, Boss Mustapha, Secretary to the Government of the Federation, Prof Isa Ali Pantami, Honourable Minister of Communications and Digital Economy amongst others. 

Policymakers delivering keynotes include Mrs Elsie Addo- Awadzi, Deputy Governor, Bank of Ghana, Ambassador Chad Blackman, Special Adviser to the President, International Labour Organization (ILO), Dr Alfred Hannig, Executive Director, Alliance for Financial Inclusion (AFI) and Mrs Aishah. N Ahmad, CFA, Deputy Governor, Central Bank of Nigeria, amongst others. Other speakers include Mr

Herbert Wigwe, Group CEO Access Holdco Plc, Ms Anna Wallace, Senior Programme

Office, Bill and Melinda Gates Foundation, Ms Inez Murray, CEO Financial Alliance

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for Women, Ms Gail Makenete, fmr Deputy Governor Central Bank of Lesotho & Chair Expert Leaders Group of the Graca Machel Trust, Mr Mike Ogbalu III, CEO PAPSS and Professor Olayinka David-West, Associate Dean Lagos Business School amongst others.  

The conference will feature the launch of the revised National Financial Inclusion Strategy, the Nigeria Financial Services Maps (NFS Maps), the Women Agent Framework, the National Fintech Strategy and the Payment System Vision 2025. It will also present the Innovation Labs exhibition highlighting innovative products and solutions and the Financial Inclusion Awards which recognizes stakeholders who have contributed to tackling exclusion and the advancement of financial inclusion in Nigeria. 

Through IFIC’22 Nigeria leads an important global conversation on the journey to closing the financial inclusion gap for the last mile in Sub-Saharan Africa and globally.

 

 

Dr. Paul I. Oluikpe

Ahmad, Lametek get Presidential nod as Deputy Governors, CBN for Second Term

Ahmad, Lametek get Presidential nod as Deputy Governors, CBN for Second Term

 

President Muhammadu Buhari has reappointed Mrs. Aishah Ndanusa Ahmad, Deputy Governor, Financial System Stability, Central Bank of Nigeria and Edward Lametek Adamu, Deputy Governor, Corporate Services, Central Bank of Nigeria to serve second terms at the apex bank.

In a letter read by Senate President Ahmad Lawan on the floor of the Senate during Tuesday’s plenary, Buhari requested that the Senate screens and confirm the nominees to serve for a second and final term as deputy governors at the apex bank.

Ahmad, a Chartered Financial Analyst (CFA) charter-holder was first nominated deputy governor in October 2017. She was confirmed as the first female DG in charge of the Financial System Stability directorate which is responsible for ensuring a safe and sound financial system in Nigeria, a core mandate of the CBN. With over 25 years policy and financial industry experience, she holds an MSc in Finance & Management from Cranfield University UK, MBA (Finance) from University of Lagos and a second class upper Bachelors degree in Accounting from University of Abuja. Ahmad has been credited with bringing dynamism and a strong combination of academic qualifications and private sector experience to her role as deputy governor FSS.

Adamu, a quantity surveyor by training was nominated to the role of deputy governor, in February 2018. He was later confirmed as DG in charge of the Corporate Services directorate following a 25 year career culminating in his role as HR Director at the CBN. He is a graduate of Ahmadu Bello University, Zaria Kaduna and fellow of the Nigerian Institute of Quantity Surveyors and the Institute of Credit Administration. He began his career with the Unified Public Service in 1983.

Both nominees are expected to be screened for confirmation by the relevant Senate committee.

African Distribution Group Bets on Cloud as the Future with Cloud-Hosted DRaaS

African Distribution Group Bets on Cloud as the Future with Cloud-Hosted DRaaS

 

 

 

Alviva Holdings, one of Africa’s largest ICT products and services providers has invested in a robust, cloud-based disaster recovery (DR) and backup solution. Partnering with VMware Cloud Verified Partner Routed, the distribution giant is reaping the rewards of a consumption-based DR-as-a-Service (DRaaS) solution hosted on VMware Cloud at two of Routed’s data centres. The engagement has been so successful that Alviva Holdings is now investigating using the cloud platform to run its enterprise application workloads too.

 

With a strategy for growth underpinned by acquisitions, the company’s IT infrastructure is complex and lacked a single centralised DR solution. Recent widespread unrest and vandalism in South Africa that targeted key infrastructure sites and threatened data centres, has created the need for organisations to consider business continuity beyond just one location.

 

While the company initially set out to create a single DR site in Routed’s Johannesburg data centre, the project evolved into a multi-site environment including hosting its DR in Routed’s Cape Town data centre. The extensibility of its systems was central to the success of the project, and because Alviva is predominantly a VMware house, Routed could easily replicate its entire DR environment in its Cape Town data centre. This strategic product alignment allowed Alviva to seamlessly integrate with Routed’s infrastructure while ensuring the infrastructure remained secure, compliant, and scalable. In addition, Alviva benefited from Routed’s technical team, and its extensive VMware expertise as a Cloud Verified Partner, to architect the environment and provide the cloud real estate to host it and support the company’s migration to a full DRaaS environment.

 

Morné van Heerden, Group CIO, Alviva Holdings, added: “The real deciding factor for our business was that we weren’t required to invest in equipment, hardware, or software. It is scalable, customisable, immediately accessible DR, and it’s consumption-based – which fits our IT spend model. We achieved the first successful DR tests in the company’s history that were quicker than any other alternative solution we had looked at.”

 

“It wasn’t an easy decision for Alviva, as whatever technology they chose had to be better than what one of the group companies could provide,” said Andrew Cruise, CEO, Routed. “While Alviva elected a specialist, third-party provider with specific expertise for only one product at the beginning, this has now expanded to a more encompassing VMware Cloud from which the company is starting to draw more company-wide value.”

 

In the future, Alviva is looking to expand its cloud presence, moving enterprise application workloads onto the Routed VMware Cloud environment. In addition, it is looking at VMware Aria Operations Cloud from Routed to assist with monitoring, reporting, capacity planning and insight into its operations.

 

“Within our cloud ecosystem, there’s a common misconception that VMware Cloud providers just host virtual machines. Instead, partners like Routed offer the full stack, akin to a public cloud hyperscale provider, in terms of visibility and everything moving up the stack from the VM. In short, cloud providers have been put into a hosted cloud bucket or virtual machine hosting place, where in fact, if you look at Alviva and Routed as an example, they offer a whole lot more,” said Sumeeth Singh, Cloud Provider Business Head, VMware Sub-Saharan Africa.

FedEx Establishes Direct Presence in Nigeria to Support Customers with International Trade

FedEx Establishes Direct Presence in Nigeria to Support Customers with International Trade

FedEx Express (FedEx), a subsidiary of FedEx Corp. (www.FedEx.com) (NYSE: FDX) and the world’s largest express transportation company, has announced that it has established a direct commercial presence in Nigeria, to meet the country’s growing international shipping demands.

 

With a direct presence in the country, businesses and customers in Nigeria now have greater access to a wider portfolio of FedEx Express shipping solutions, while Red Star Express Plc, our service provider in Nigeria continues to provide the infrastructure for ground operations.

Customers will also have access to a range of FedEx digital tools that makes shipping easier and more efficient through www.FedEx.com.  These services include opening a new account, tracking shipment status, creating shipping air waybills, scheduling courier pickups, and managing billing. Additionally, FedEx will now have dedicated Sales and Customer Technology teams on ground to interact and provide enhanced logistics expertise to help local businesses grow internationally.

Nigeria is the largest and fastest growing economy in Africa, and the African Development Bank projects that the average growth rate for the country’s economy will increase by 3.2% between 2022 through to 2022[1].

Taarek Hinedi, vice president for FedEx Middle East and Africa operations, said, “Today we are closer to our customers than ever before. This strategic step makes it easier for local businesses to ship with us as they look to tap more import and export opportunities and grow their customers around the world.”

“Nigeria is on the right path for further growth and FedEx is committed to supporting this growth and connecting Nigeria to some of the biggest trading partners located in Asia and Europe. The FedEx network is crucial to provide businesses with greater connectivity between Africa and Europe as well as within the Asia Pacific, Middle East and Africa (AMEA) region,” said Hinedi. “As Nigeria continues with its 2021 to 2025 National Development Plan to increase the share of its exports to Africa up to 35% from a base figure of 20%[2], businesses will require a range of international services and solutions to help boost the economy.”

FedEx has been facilitating trade in Nigeria since 1994, offering its international solutions through Red Star Express Plc. With this latest initiative, FedEx will continue to leverage the capabilities and infrastructure of the service provider, Red Star Express Plc, that will continue to provide pick-ups, deliveries, customs clearance services, and retail locations across the country.

Nigeria is on the right path for further growth and FedEx is committed to supporting this growth and connecting Nigeria to some of the biggest trading partners

FedEx remains committed to supporting the Nigerian Government’s Economic Recovery and Growth Plan (ERGP), to drive structural reforms to diversify its economy and reduce dependency on oil[3]. The FedEx direct presence in the country will help connect Nigerian business owners, exporters, importers, and consumers to more than 220 countries and territories worldwide, covering more than 99% of the world’s gross domestic product.

Over Half of Businesses in Nigeria Planning to Expand Locally Despite Supply Chain, Cyber-Security, and Recruitment Challenges

Over Half of Businesses in Nigeria Planning to Expand Locally Despite Supply Chain, Cyber-Security, and Recruitment Challenges

Nigerian survey data also shows that 34% of IT decision makers in Nigeria are planning to move to a new region and 33% into a new country; 58% of IT decision makers in Nigeria view a shortage of personnel with IT skills as one of the main threats to their business; Equinix completed the acquisition of Nigeria’s MainOne (http://www.MainOne.net) earlier this year

 

As part of the Equinix 2022 Global Tech Trends Survey (https://bit.ly/3P4YpHt), 100 business leaders in Nigeria were interviewed about the opportunities and challenges their organizations are facing – and their plans for the future.

As Equinix’s survey data highlights, there are huge opportunities for Nigeria’s businesses to successfully expand into new markets and reach new customers.

The survey in Nigeria revealed that 54% of respondents are planning on expanding in an existing country in the next 12 months, 34% into a new region and 33% into a new country.  And that 93% of IT leaders in Nigeria said enhancing customer experience is a priority.

However, a number of potentially limiting factors were identified by businesses when it came to global growth including concerns and challenges in supply chain, cyber security, and staff retention and recruitment.

Supply Chain Challenges

55% said their business was plagued by global supply chain issues and shortages, while 50% specified the global microchip shortage as a threat to their business.

Cyber Security

There remain significant concerns around cybersecurity in Nigeria. Ensuring expansions are supported by resilient digital models is business-critical, particularly at a time of increasing volatility and emerging global threats.

As part of their digital-first strategies, 85% of respondents in Nigeria confirmed a key priority is improving cybersecurity. 88% said complying with local market data regulations is critical, while 85% highlighted the need to futureproof their businesses. According to IT specialists in Nigeria, the most feared threats were cyberattacks (73%), security breaches and data leaks (68%).

Staff retention and recruitment

77% of IT leaders in Nigeria said they plan to move more business functions to the cloud including business-critical applications and security functions

Despite having one of the youngest populations and workforces in the world, 58% of IT decision makers in Nigeria view a shortage of personnel with IT skills as one of the main threats to their business.  The survey showed that among the most common concerns for businesses in Nigeria are candidates with the wrong skill sets applying for jobs (56%), pay and compensation (49%), changing expectations around ways of working (41%), and the retention of current talent (38%).

Additionally, In Nigeria, the most in-demand tech employees are those with skills in areas such as AI/machine learning, data analysis, cloud computing specialists, data protection, security software development, IT technicians and security analysis

Tools To Grow Businesses

To help grow their businesses, 77% of IT leaders in Nigeria said they plan to move more business functions to the cloud including business-critical applications and security functions.

Hybrid cloud models were the preferred approach for 36% of respondents in Nigeria, although 18% still rely on a single cloud provider and 2% not using the cloud at all.

40% in Nigeria said they plan to facilitate global expansion plans by deploying virtually via the cloud, with over a quarter (26%) – 21% among IT decision-makers in Nigeria – doing so using a bare metal solution.

Meanwhile, 47% globally (46% in Nigeria) said they expect increased spending on carrier-neutral colocation solutions to facilitate the planned rise in digital deployments, while even more (59% at global level, 70% in Nigeria) said they intend to increase investment in interconnection services as they plan to progress digital transformation and build resilience.

COVID accelerates digital evolution

The pandemic also continues to have a significant impact on businesses’ digital strategies. More than half of IT leaders in Nigeria (64%) say they are accelerating their company’s digital evolution because of the COVID-19 crisis. Indeed, over half (64%) confirm their IT budgets have increased as a direct outcome of its legacy—an insight into the now broadly acknowledged necessity for robust digital infrastructure to pivot to evolving business needs in an instant. Furthermore, almost three-quarters of respondents (73%) believe the technology changes and investments implemented during the pandemic are here to stay.

Funke Opeke, Managing Director, MainOne, An Equinix Company said:

“The acceleration in digital transformation in Nigeria reinforces the need for businesses to have access to single points to interconnect locally. Increased speed of connectivity, increased flexibility of connectivity, and reduced cost of connectivity were identified by IT decision-makers in Nigeria as the most beneficial aspects of interconnection.  MainOne provides a rich interconnection ecosystem that allows customers connect to each other multiple telecoms networks, and Cloud, Payment and Content Providers in a single location.’’

Earlier this year Equinix, Inc. (https://www.Equinix.com/) (Nasdaq: EQIX), the world’s digital infrastructure company™, expanded into Africa through the US$320m acquisition of MainOne, a leading West African data center and connectivity solutions provider, with presence in Nigeria, Ghana and Côte d’Ivoire

To download a copy of the Global Tech Trends Survey – Nigeria report, please visit: https://bit.ly/3Pba3ka

To read more about the Global Tech Trends Survey or download a copy, please visit: Equinix 2022 Global Tech Trends Survey (https://bit.ly/3P4YpHt)

Champions of Financial Inclusion: Interswitch, EFinA, Jaiz Bank, others receive Nods at Financial Inclusion Awards during the 2022 International Financial Inclusion Conference Abuja, Nigeria

Champions of Financial Inclusion: Interswitch, EFinA, Jaiz Bank, others receive Nods at Financial Inclusion Awards during the 2022 International Financial Inclusion Conference Abuja, Nigeria

 

 

An inspiring Day 1 of the ongoing 2022 International Financial Inclusion Conference organized by the Financial Inclusion Governing Committee in Nigeria culminated in the Financial Inclusion Awards Dinner Dinner which held on the 24th November 2022 at  the Congress Hall, Transcorp Hilton Hotel.

 

Themed Celebrating Champions of Inclusion, the dinner was well attended by conference delegates, financial system regulators, award nominees and other stakeholders in the Nigeria Financial Inclusion ecosystem.

 

Several dignitaries graced the occasion including  the Secretary to the Government of the Federation, Mr. Boss Mustapha, who was Special Guest of Honor the Honorable Minister of Women Affairs, Dame Pauline Tallen, the Chairman of the Securities and Exchange Commission, Mr. Femi Lijadu, the Chief Executive Officer of Brittania-U Nigeria Limited, Mr. Uju Ifejika, Deputy Governors and Board Members of the Central Bank of Nigeria, amongst others.

 

Speaking on behalf of the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, the Deputy Governor, Financial System Stability, CBN Mrs Aishah Ahmad noted that the maiden financial inclusion awards were conceived to acknowledge and celebrate individuals and institutions who played a key role in advancing financial inclusion in Nigeria since the National Financial Inclusion Strategy (NFIS) was launched a decade ago. She thanked the Special Guest of Honor, Mr Boss Mustapha and the Hon Minister of Affairs Dame Paulen Tallen for their support, stating that their presence was a strong signal of collaboration by regulators and government on financial inclusion.

 

In her keynote remarks, Mrs. Uju Ifejika highlighted the strategic importance of financial literacy and  practical investment knowledge as a tool to achieving Financial Inclusion. The Secretary to Government of the Federation, Mr. Boss Mustapha, commended the Central Bank of Nigeria for hosting the conference and spotlighting financial inclusion given its positive impact on the welfare of Nigerian  citizens. The Honorable Minister of Women affairs, Dame Pauline Tallen, and the Chairman of the Board of the Securities and Exchange Commission, Mr. Femi Lijadu, both emphasized collaboration across the public and private sector to ensure all Nigerians participate fully participants in the Nigerian economy through financial inclusion.

 

Amidst live entertainment, spoken word and cultural performances showcasing Nigeria’s rich culture to the world, the business of the evening, the very first Financial Inclusion award in the country was as exciting as it was inspiring.

 

Ten (10) deserving institutions were provided with awards in different categories during the dinner following a rigorous and transparent nomination and selection process superintended  by Price WaterHouse Cooper (PWC). The Following winners emerged during the award ceremony;

 

  1. Financial Inclusion Innovation Award – Enhancing Financial Innovation and Access
  2. National Women’s Financial Inclusion Award – Access Bank
  3. Financially Inclusive Bank of the Year – Jaiz Bank
  4. Financially Inclusive MFB of the year – Lapo MFB Ltd
  5. Financially Inclusive Fintech of the Year – Remita and Interswitch
  6. Inclusive Financial Product Award – Liberty Assured Ltd
  7. Financial Inclusion Leadership Award – Ms. Modupe Ladipo
  8. Financially Inclusive Agent of the Year – Etranzact
  9. National Inclusive Payment Initiative Award – TeamApt Ltd
  10. Financial Services Infrastructure Innovation Award – Remita Payment Service Ltd

 

The Deputy Governor of the CBN, Mrs Aishah Ahmad, CFA was also presented with a Special Award for Promoting Country Partnerships  by the Central Bank of Egypt in recognition of leadership provided in the Central Bank of Nigeria – Central Bank of Egypt Fintech Bridge which was launched earlier in the day.

 

The two day conference ends on Friday, 25th November dedicated to technical sessions on Gender Inclusive Finance and Women’s Financial Inclusion, leveraging gender data for evidence -based policy, digital infrastructure, consumer protection, deepening Digital Financial Services adoption and winning strategies for reaching the youth and rural areas.

 

TikTok Challenge Used To Circulate Information-Stealing Malware – NCC

TikTok Challenge Used To Circulate Information-Stealing Malware – NCC

 

 

The Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) has warned about the potential harm of taking part in the Invisible Challenge on short-form video hosting service, TokTok, revealing that it exposes devices to Information-Stealing Malware.

 

An NCC-CSIRT advisory said threat actors have taken advantage of a viral TikTok challenge, known as the Invisible Challenge, to disseminate an information-stealing malware known as the WASP (or W4SP) stealer.

 

The WASP stealer, which is high in probability with critical damage potential, is a persistent malware hosted on discord that its developer claim is undetectable.

 

The advisory said “The Invisible Challenge involves wrapping a somewhat transparent body contouring filter around a presumed naked individual. Attackers are uploading videos to TikTok with a link to software that they claim can reverse the filter’s effects.

 

“Those who click on the link and attempt to download the software, known as “unfilter,” are infected with the WASP stealer. Suspended accounts had amassed over a million views after initially posting the videos with a link. Following the link leads to the “Space Unfilter” Discord server, which had 32,000 members at its peak but has since been removed by its creators.

 

“Successful installation will allow the malware to harvest keystrokes, screenshots, network activity, and other information from devices where it is installed. It may also covertly monitor user behaviour and harvest Personally Identifiable Information (PII), including names and passwords, keystrokes from emails, chat programs, websites visited, and financial activity. This malware may be capable of covertly collecting screenshots, video recordings, or the ability to activate any connected camera or microphone,” it explained.

 

The Team said some ways to forestall such an attack include avoiding clicking on suspicious links, using anti-malware software on your devices, checking app tray and removing any apps that you do not remember installing or that are dormant and embracing healthy password hygiene practices such as using a password manager.

 

The CSIRT is the telecom sector’s cyber security incidence centre set up by the NCC to focus on incidents in the telecom sector and as they may affect telecom consumers and citizens at large.

 

The CSIRT also works collaboratively with Nigerian Computer Emergency Response Team (ngCERT), established by the Federal Government to reduce the volume of future computer risk incidents by preparing, protecting, and securing Nigerian cyberspace to forestall attacks, and problems or related events.

 

Central Bank of Nigeria (CBN) Issues New Cash Withdrawal Policy Effective January 9th, 2023

Central Bank of Nigeria (CBN) Issues New Cash Withdrawal Policy Effective January 9th, 2023

:

1. The maximum cash withdrawal over the
counter (OTC) by individuals and corporate
organizations per week shall henceforth be
N100,000 and N500,000 respectively.
Withdrawals above these limits shall attract
processing fees of 5% and 10%, respectively.

2. Third party cheques above N50,000 shall not
be eligible for payment over the counter, while
extant limits of N10,000,000 on clearing
cheques still subsist.

3. The maximum cash withdrawal per week via
Automated Teller Machine (ATM) shall be
N100,000 subject to a maximum of N20,000
cash withdrawal per day.

4. Only denominations of N200 and below shall
be loaded into the ATMs.

5. The maximum cash withdrawal via point of
sale (PoS) terminal shall be H20,000 daily.

6. In compelling circumstances, not exceeding
once a month, where cash withdrawals above
the prescribed limits is required for legitimate
purposes, such cash withdrawals shall not
exceed N5,000,000.00 and $10.000.000.00 for
individuals and corporate organisations,
respectively, and shall be subject to the
referenced processing fees in (1) above, in
addition to enhanced due diligence and further
information requirements.

My Take: CBN wants to improve on cashless
policy via internet/mobile banking/electronic
transmissions, ensures that money remains in
bank vaults and discourages hoarding of
money. It’ll also help to stop the crazy people
that spray and abuse naira currency in social
events and gatherings.

Sophos Launches Industry-First Managed Detection and Response (MDR) Service from an Endpoint Security Provider that Integrates Vendor Agnostic Telemetry

Sophos Launches Industry-First Managed Detection and Response (MDR) Service from an Endpoint Security Provider that Integrates Vendor Agnostic Telemetry

 

 

 

  • Introduces Sophos Marketplace and $1 Million Breach Protection Warranty
  • Sophos X-Ops Identifies LockBit 3.0 Similarities to BlackMatter; Attackers Use Pentesting and Credential Theft to Evade Detection, Requiring Specialized MDR Skills to Spot Them

Dec. 05, 2022 – Sophos, a global leader in innovating and delivering cybersecurity as a service, has announced the general availability of Sophos Managed Detection and Response (MDR) with new industry-first threat detection and response capabilities.

 

Sophos is the first endpoint security provider to integrate vendor agnostic telemetry from third-party security technologies into its MDR offering, providing unprecedented visibility and detection across diverse operating environments. Sophos also introduced the Sophos Marketplace and $1 million Sophos Breach Protection Warranty.

  

The need for MDR services and specialized defenders has never been greater, as shown in today’s new research, “LockBit 3.0 ‘Black’ Attacks and Leaks Reveal Wormable Capabilities and Tooling,” from Sophos X-Ops, the company’s cross-domain threat intelligence unit. The research analyzes tactics, techniques and procedures (TTPs) used by LockBit, one of today’s most prolific ransomware gangs, that are similar to BlackMatter, and explains how the latest version of the ransomware, LockBit 3.0, adds wormable capabilities and uses legitimate pentesting tools to evade detection.

 

In a second article, “Detection Tools and Human Analysis Lead to a Security Non-Event,” Sophos X-Ops details a recent Sophos MDR use case involving credential theft, another technique that allows adversaries to impersonate legitimate users. In this case, the Sophos MDR team combined its threat hunting intelligence with information from the customer’s third-party security appliance to thwart an attack.

 

“The only way to reliably detect and neutralize determined attackers who increasingly combine the use of pentesting tools, stolen credentials and other stealthy tactics to maneuver undetected is with 24×7 eyes on glass, operating on signals from a diversity of event sources and employing actionable threat intelligence into real-time attacker behaviors,” said Joe Levy, chief technology and product officer at Sophos. “Organizations are struggling to keep pace with well-funded adversaries who are continuously innovating and industrializing their ability to evade defensive technologies alone. Sophos MDR can discover and intercept these steps before they result in a data breach, ransomware or other type of costly compromise. Sadly, ransomware persists as one of the greatest cybercrime threats to organizations, as evidenced in the Sophos 2023 Threat Report. We’re raising the industry standard for how critical MDR services can be delivered to broaden visibility for better, faster detection and response.”

 

Industry-First Detection and Response and the New Sophos Marketplace
Sophos is the first leading endpoint security provider delivering MDR across both its own product portfolio as well as end users’ existing security deployments. To support this effort, Sophos launched the Sophos Marketplace, an open ecosystem of more than 75 technology integrations, including Amazon Web Services (AWS), Check Point, CrowdStrike, Darktrace, Fortinet, Google, Microsoft, Okta, Palo Alto Networks, Rapid7, and many others. Expanded visibility across these integrations and diverse operating environments enables Sophos MDR experts to better detect and remediate attacks with speed and precision, regardless of customers’ existing security solutions.

 

In addition to Sophos MDR, Sophos Marketplace provides third-party integrations for Sophos’ portfolio of services, products and technologies. Telemetry is automatically consolidated, correlated and prioritized with insights from the Sophos Adaptive Cybersecurity Ecosystem and the Sophos X-Ops threat intelligence unit.

 

Extended Protection Warranty

Sophos stands behind its MDR customers with the new Sophos Breach Protection Warranty that covers up to $1 million in response expenses for organizations protected by Sophos MDR Complete, Sophos’ most comprehensive MDR offering. Underwritten solely by Sophos, the warranty covers endpoints – both Windows and Mac devices – and servers, and unlike competitive offerings, there are no warranty tiers or duration limitations for active customers. This Sophos Breach Protection Warranty is automatically included with all purchases and renewals of Sophos MDR Complete annual subscriptions through Sophos’ global reseller partner network.

 

Availability

More than 13,000 organizations already rely on Sophos’ existing MDR service for 24/7 threat hunting, detection and response by an expert team as a fully-managed service. The newest offering with third party integration capabilities is available now, and the service is customizable with different tiers and threat response options, enabling customers to choose whether to have the Sophos MDR operations team execute full-scale incident response, provide collaborative assistance for confirmed threats, or deliver detailed alert notifications for their security operations teams to manage themselves.

 

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MY DOUBLE DOUBLE CONFERENCE: THIS YEAR WE ARE LOOKING AT RESURGE AND RESUCCEED – KAYODE

MY DOUBLE DOUBLE CONFERENCE: THIS YEAR WE ARE LOOKING AT RESURGE AND RESUCCEED – KAYODE

 

 

It is the time of the year that folks take stock of the events and plant for the new year. In line with tis realities coupled with the economic situations in the country, people have asked where is the next moves coming from. Trying to answer these critical questions, Kayode Jaosh will be bringing MY DOUBLE DOUBLE CONFERENCE 2015 few days to Christmas. This program is one of the anticipated life changing conferences that is expected to change the lives of people.

Speaking to the media, Kayode Jaosh, the convener od MY DOUBLE DOUBLE said “It is the time of the year that folks take stock of the events and plant for the new year. In line with tis realities coupled with the economic situations in the country, people have asked where is the next moves coming from. Trying to answer these critical questions, Kayode Jaosh will be bringing MY DOUBLE DOUBLE CONFERENCE 2015 few days to Christmas. This program is one of the anticipated life changing conferences that is expected to change the lives of people…Moreso, the main reason for my double double conference is that I saw this country as where we will have great and better opportunity and as well one of the best places on earth which majority of the people will definitely not agree. Sometimes we need to travel to have some rest to do whatever we want to do. Therefore, it got a point in my life when I began to picture and see Nigeria that if I didn’t succeed in Nigeria I can never succeed anywhere in the world. “

He added that “  Just like I am saying, if Nigeria on the other side can find a way and develop their mindset I will assured you it will really pave a way for them in gaining their pride back to the green passport, for instance I used to hyphenate my name’s as Kayode Joash which is specifically pronounced as Olu Kayode but in London they will asked you to write your first and last name, so if I wrote O Joash they don’t know where I came from and they might likely classify me as one of them but for me I prefer O_Kayode Joash so that when you read my name you will be able to identify where I came from. So henceforth Nigeria now became a thing of pride for me and not a thing of shame anymore.”

On the need for Nigerians to contribute their own quotas to the development of the country, Kaypde opined that “Nigerian can only be developed by Nigerian and there is no two ways about it. I traveled sometimes ago and I vowed never to set my feet here again in Nigeria but am a Nigerian by birth, you see there is a time when one of our companies wants to employ massively in Nigeria, so what am saying in essence is that the welfare of the doctors matters a lot for them to be the doctor they ought to be. So at times you need to move out of your comfort zone to develop yourself properly and settled whatever you desired in life, then you will be in a better place with the hope of adding values to the life of people.

Just for instance am broken there is no way I can come over from UK to do what we are doing now, that is why you see some nurses and careers exchanging words with the woman in labor room going through excess pain, quarrelling and shouting on top of their voice asking the patient if they are the ones that impregnated them…On a more serious note, doctors are supposed to manage and take proper care of their patient no matter the circumstances surrounding the environment. My wife is a medical doctor she heads the main company, a consultant in UK and she is one of the top consultants and she cares so much about the patient. “

“The event is about helping people to succeed. This year we are looking at Resurge and Resucceed, but with a general theme of Where you were and where you want to be. We are helping people to focus on succeeding even for those that are fallen. we make people focus; we are basically life testimonies. We are trying to find our ways in encouraging and teaching life support skills. We are looking at where you want to be. We are looking practical answers to life purpose. It might look like a religious conference but it is a business peak performance conference. We are looking at receiving people from different walks of life. We are looking at international exposure and we have been around for over 15 years”, He concluded.