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New report by IDC on ‘Middle East IT Security End-User Survey’ has shown that the IT security landscape in the region has started to show some signs of maturing as organizations in the region are taking gradual steps to improve their security posture.
Organizations in the Middle East, IDC said, are increasingly deploying advanced security solutions in order to proactively mitigate the security issues that may arise from lack of user awareness, network traffic, and hacktivism.

Ugo amadia

Promasidor Nigeria Limited, organisers of the Promasidor Quill Awards for Journalists has called for entries for the 2015 edition of the awards.
Speaking at the media briefing held on the annual awards, the company’s Head of Legal/Public Relations, Mr. Andrew Enahoro, reiterated his organisation’s commitment to the Nigerian economy and as such promised that Promasidor will continue to recognise and reward excellence in the journalism profession because of the important role journalists play in the society.


A new report from leading accounting and auditing group, KPMG has revealed that if adequate care is not taken, the increasing frequency and magnitude of cybercrime incidents globally and in Nigeria in recent times may derail the nation’s budding online retail conglomerate.
In the report, KPMG acknowledged that the Central Bank of Nigeria’s report for the first half of 2013 noted that there were 2,478 fraud and forgery cases involving Nigerian banks valued at over N20 billion.

U.S. stocks fell on Friday, pressured by concern over euro zone stability and its potential impact on U.S. corporate results and by domestic economic growth data.
U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.


The National Association of Government Approved Freight Forwar-ders (NAGAFF) has condemned calls in some quarters that the Federal Government should increase the revenue target set for the Nigeria Customs Service (NCS) this year so as to make up for the shortfalls from the oil market. NAGAFF described the agitation for hike in Customs’ revenue target as the greatest mistake the government will make.

…Issues one month ultimatum

Poised to protect policyholders and ensure that genuine claims are settle promptly by insurance companies, the National Insurance Commission (NAICOM) has given one month notice to all insurance companies in the country to furnish the commission with all outstanding claims in their books.

As stakeholders continue to search for way out of vandalism of telecommunication infrastructures and challenges in securing Right of Way (RoW) on federal, states and local government roads, Executive Director, Broadbased Communications (BBC) Limited, Mr. Chris Erewele has called for the establishment of separate agency to manage the security of information technology infrastructure across the country for the interest of investments in the sector.

KELVIN EGERUE (Business Editor) with agency report

Brent crude oil futures held above $48 a barrel on Thursday as investor inflows offset data showing that U.S. crude stocks had hit a record high.
U.S. crude traded at about $44.50 a barrel yesterday, up 5 cents and off a six-year low hit on Wednesday. Brent was up 26 cents at $48.73 a barrel.



Dealers in the foreign exchange market said the naira shed 1.64 per cent to close at 189.10 against the greenback on Thursday, despite dollar sales by the central bank and oil companies.
The naira traded at around 191 on Thursday, prompting the Central Bank of Nigeria (CBN) to intervene, which helped lift it to 185.20. But it then finished weaker compared with its close of 186 on Wednesday after demand surged.

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