efg ajayi | University Of Lusaka (original) (raw)
Papers by efg ajayi
Cyber security insurance, popularly known as cyber insurance, is a recent child of necessity, bor... more Cyber security insurance, popularly known as cyber insurance, is a recent child of necessity, borne out of the imminent and unavoidable cyberattacks that have become pervasive and practically a menace, which humanity must live with, either personally in private life or under official circumstances, because of its prevalence in our daily lives. Cyberattacks are an epidemic and a noisome pestilence to the human race. No matter how prepared a company is in training staff members or how equipped it is, no one knows when cybercriminals will strike with cyberattacks because they are always on the prowl. The issue of cyber security is in the province of sociolegal insurance, regulated by privacy law. Even though cyberattacks are common, the extant legal research and publications manifestly reveal that most corporations have not and are not prepared to undertake cyber insurance cover, that is, the latest brand of insurance; thus, it is relatively new and has its origin in errors and omissions insurance, a special brand of insurance that provides cover against defects and faults for service companies. Errors and omissions insurance is the policy cover offered to companies that sell physical products. Cyber insurance has a lot of merits, but perhaps its newness and non-realization of the inherent benefits account for low adoption and patronage even in developed countries, which are ICT-centric due to high technological advancement. It is on the basis that corporate bodies appear apathetic to cyber insurance that this article strongly advocates that companies should embrace and give deserved attention to cyber insurance because it is in the best interest of corporations all over the world and for the overall well-being of society, so as not to truncate the economic and industrial wheels from running as expected, for the good of all.
Cyber security insurance, popularly known as cyber insurance, is a recent child of necessity, bor... more Cyber security insurance, popularly known as cyber insurance, is a recent child of necessity, borne out of the imminent and unavoidable cyberattacks that have become pervasive and practically a menace, which humanity must live with, either personally in private life or under official circumstances, because of its prevalence in our daily lives. Cyberattacks are an epidemic and a noisome pestilence to the human race. No matter how prepared a company is in training staff members or how equipped it is, no one knows when cybercriminals will strike with cyberattacks because they are always on the prowl. The issue of cyber security is in the province of sociolegal insurance, regulated by privacy law. Even though cyberattacks are common, the extant legal research and publications manifestly reveal that most corporations have not and are not prepared to undertake cyber insurance cover, that is, the latest brand of insurance; thus, it is relatively new and has its origin in errors and omissions insurance, a special brand of insurance that provides cover against defects and faults for service companies. Errors and omissions insurance is the policy cover offered to companies that sell physical products. Cyber insurance has a lot of merits, but perhaps its newness and non-realization of the inherent benefits account for low adoption and patronage even in developed countries, which are ICT-centric due to high technological advancement. It is on the basis that corporate bodies appear apathetic to cyber insurance that this article strongly advocates that companies should embrace and give deserved attention to cyber insurance because it is in the best interest of corporations all over the world and for the overall well-being of society, so as not to truncate the economic and industrial wheels from running as expected, for the good of all.
SSRN Electronic Journal, 2014
Conflicts and wars are synonymous with humanity because of PIN; a theory propounded by conflict e... more Conflicts and wars are synonymous with humanity because of PIN; a theory propounded by conflict experts which means the Position, Interest and Needs of human beings who are dramatis personae in conflicts and war situations. Though the Security Council is vested with the onerous responsibility of maintaining international peace and security, this paper is of the view that the success attributable to the Security Council in its primary duty in other continents is satisfactory, but not in Africa where conflicts and wars are endemic. Currently, there are ongoing wars Congo, South Sudan and Central African Republic while serious armed conflicts are plaguing Nigeria, Kenya and Somalia. The reasons why conflicts and wars continue to be deep-seated in Africa are internal and external. This paper argues that no amount of intervention by the Security Council would possibly end the unfortunate spiral of conflicts and wars in Africa except Africans puts their house in order to frontally address the incessant conflicts and wars with its harrowing consequences on the people of Africa
SSRN Electronic Journal, 2015
SSRN Electronic Journal, 2016
It is well settled and far beyond controversy, that the exchange of goods and services is an impo... more It is well settled and far beyond controversy, that the exchange of goods and services is an important aspect of human life; the trading activity dates back to history as attested by “trade by barter” during the stone ages; in this modern time, countries of the world are not equally endowed with human and natural resources, moreover, the economic principle espoused by comparative advantage on one hand, the free market economy and globalization on the other, has invariably made trade and commerce, as well as inter-governmental commercial transactions, an indispensable aspect of human life. Hitherto, trade and commerce were facilitated under cumbersome conditions, but with the advent of telecommunications via the cyberspace, the face and nomenclature of business transactions changed irreversibly for better as contracting partners need not meet one another physically, yet, commercial exchanges running into millions of Dollars could easily be effected through electronic commerce. It is apparent that the telecommunications medium is the most economical way to transact businesses irrespective of the geographical separations between trading partners. The telecommunications industry could thus be aptly described as the gate-way to the global economy, due to the phenomenal volume of transactions in goods and services facilitated between thereof between persons, corporate, organizations and sovereign states. Today, trade and commerce have surpassed the rudimentary realm and no longer localized as in the past; it has metamorphosed and become internationalized; unfortunately, cybercriminals capitalize on the advantages occasioned by speed and volume of electronic transactions, to wreak havoc thereby causing huge economic losses, as well as other setbacks which may not be quantifiable financially. This paper argues that losses arising out cybercrimes shall continue as extant laws in place, cannot possibly address the menace as the said laws are fragmented, national and regional. The purpose of this paper, is to attempt a comprehensive account of the impact of cybercrimes on E-Commerce so as to raise awareness and appreciation of the problem, in the hope that a global solution shall be found to the challenges posed by cybercrimes to E-Commerce and of course, global economy.
SSRN Electronic Journal, 2014
Internally displaced persons (IDPs) are people who because of circumstances beyond their control ... more Internally displaced persons (IDPs) are people who because of circumstances beyond their control have had to flee their traditional homes as a result of natural or man-made threats to their lives. The general perception is that IDPs are not offered any protection by international law. This article argues that though there may not be too many laws specifically enacted at the global level to cater for the plight of IDPs but this category of people are well protected within the extant juris corpus of international laws; further, the Africa Union by virtue of the Kampala Convention which came into force on 6 December 2012 has taken the bull by the horn to ameliorate the burden of IDPs, the said convention is the first of its kind at the international level.
Cybercrime, a concept which to date has defied a globally accepted definition appears to be the l... more Cybercrime, a concept which to date has defied a globally accepted definition appears to be the latest scourge plaguing man and same has occupied the cynosure of attention. The word “cybercrime” is on the lips of almost everyone involved in the use of the computer and Internet be it individual, corporate, organization, national, multinational or international. The attention accorded cybercrimes is not far-fetched, on one hand, it is partly rooted in its unavoidable nature as a result of the fact that telecommunications via the cyberspace, is the veritable means by which social interaction, global trade and commerce are transacted; and on the other, the economic losses to which all citizens are exposed whether now or in the nearest future. Aside economic losses, other consequences of cybercrimes includes but not limited to setback to the brand image and company reputation otherwise known as goodwill, loss of intellectual property and sensitive data, opportunity costs which includes but not limited to service and employment disruptions, penalties and compensatory payments to affected clienteles, contractual compensation for delays, cost of countermeasures and insurance, cost of mitigation strategies and recovery from cyber-attacks, the loss of trade and competitiveness, distortion of trade and job loss. This paper argues that it is not as if relevant laws and regulations are not in place because some civilized nation in the world has in one form or another, laws against cybercrimes, yet, the challenge remains intractable and bewildering. As nations across the globe strives to curb cybercrimes through the instrumentality of the law, so are the cyber criminals devising new and sophisticated techniques thereby rendering impotent, the extant legal measures. This Article intends to bring to the fore, a comprehensive account of why cybercrimes remains an albatross in order showcase the enormity of the challenge faced by humanity in the hope that when the extent of the problem is known, may be, a global solution would timeously be fashioned out, to stem the tide of cybercrimes.
Keywords: Cybercrimes, cyber criminals, challenges, enforcement, losses.
The mobile telephone alternatively referred to as mobile handset, has immense advantages over the... more The mobile telephone alternatively referred to as mobile handset, has immense advantages over the traditional land line telephone in that it enables the user to traverse wherever he desires, and yet able to communicate with others either for purposes of transacting businesses or as a means of effecting social interactions, but notwithstanding the apparent advantages of mobile phones, like every coin having two sides, its use has demerits which as a matter of necessity, calls for regulatory measures to protect the subscribers; unfortunately, this is not the case in most African countries, for example, Nigeria reputed for the highest population in Africa ditto the highest number of mobile telephone subscribers in addition to being the biggest economy in the continent, does not have in place, law and policy specifically aimed at protecting or promoting the interest of its subscribers. The usage of mobile phones has assumed phenomenal increase recently; it is the norm rather than the exception in Africa but with the unfortunate trend of dearth of legal and regulatory measures. This Article deals with the legal and regulatory framework pertaining to mobile phones and examines issues relating to or consequences generated thereof. The paper argues that the extant legal and regulatory framework in Africa is not in the best interest of subscribers,’ and calls for a paradigm shift towards taking into cognizance the said interest of subscribers’ by governments’ with the view to putting in place, legal and regulatory precepts simply because the manufacturers of mobile phones and telephony companies, wherever they are situate or operate from, need and rely on the profits generated from African countries.
Drafts by efg ajayi
Abstract It is well settled and far beyond controversy, that the exchange of goods and services i... more Abstract
It is well settled and far beyond controversy, that the exchange of goods and services is an important aspect of human life; the trading activity dates back to history as attested by “trade by barter” during the stone ages; in this modern time, countries of the world are not equally endowed with human and natural resources, moreover, the economic principle espoused by comparative advantage on one hand, the free market economy and globalization on the other, has invariably made trade and commerce, as well as inter-governmental commercial transactions, an indispensable aspect of human life. Hitherto, trade and commerce were facilitated under cumbersome conditions, but with the advent of telecommunications via the cyberspace, the face and nomenclature of business transactions changed irreversibly for better as contracting partners need not meet one another physically, yet, commercial exchanges running into millions of Dollars could easily be effected through electronic commerce. It is apparent that the telecommunications medium is the most economical way to transact businesses irrespective of the geographical separations between trading partners. The telecommunications industry could thus be aptly described as the gate-way to the global economy, due to the phenomenal volume of transactions in goods and services facilitated between thereof between persons, corporate, organizations and sovereign states. Today, trade and commerce have surpassed the rudimentary realm and no longer localized as in the past; it has metamorphosed and become internationalized; unfortunately, cybercriminals capitalize on the advantages occasioned by speed and volume of electronic transactions, to wreak havoc thereby causing huge economic losses, as well as other setbacks which may not be quantifiable financially. This paper argues that losses arising out cybercrimes shall continue as extant laws in place, cannot possibly address the menace as the said laws are fragmented, national and regional. The purpose of this paper, is to attempt a comprehensive account of the impact of cybercrimes on E-Commerce so as to raise awareness and appreciation of the problem, in the hope that a global solution shall be found to the challenges posed by cybercrimes to E-Commerce and of course, global economy.
Keywords: Trade and commerce, E-Commerce, cybercrimes, cyber criminals, economic losses.
Cyber security insurance, popularly known as cyber insurance, is a recent child of necessity, bor... more Cyber security insurance, popularly known as cyber insurance, is a recent child of necessity, borne out of the imminent and unavoidable cyberattacks that have become pervasive and practically a menace, which humanity must live with, either personally in private life or under official circumstances, because of its prevalence in our daily lives. Cyberattacks are an epidemic and a noisome pestilence to the human race. No matter how prepared a company is in training staff members or how equipped it is, no one knows when cybercriminals will strike with cyberattacks because they are always on the prowl. The issue of cyber security is in the province of sociolegal insurance, regulated by privacy law. Even though cyberattacks are common, the extant legal research and publications manifestly reveal that most corporations have not and are not prepared to undertake cyber insurance cover, that is, the latest brand of insurance; thus, it is relatively new and has its origin in errors and omissions insurance, a special brand of insurance that provides cover against defects and faults for service companies. Errors and omissions insurance is the policy cover offered to companies that sell physical products. Cyber insurance has a lot of merits, but perhaps its newness and non-realization of the inherent benefits account for low adoption and patronage even in developed countries, which are ICT-centric due to high technological advancement. It is on the basis that corporate bodies appear apathetic to cyber insurance that this article strongly advocates that companies should embrace and give deserved attention to cyber insurance because it is in the best interest of corporations all over the world and for the overall well-being of society, so as not to truncate the economic and industrial wheels from running as expected, for the good of all.
Cyber security insurance, popularly known as cyber insurance, is a recent child of necessity, bor... more Cyber security insurance, popularly known as cyber insurance, is a recent child of necessity, borne out of the imminent and unavoidable cyberattacks that have become pervasive and practically a menace, which humanity must live with, either personally in private life or under official circumstances, because of its prevalence in our daily lives. Cyberattacks are an epidemic and a noisome pestilence to the human race. No matter how prepared a company is in training staff members or how equipped it is, no one knows when cybercriminals will strike with cyberattacks because they are always on the prowl. The issue of cyber security is in the province of sociolegal insurance, regulated by privacy law. Even though cyberattacks are common, the extant legal research and publications manifestly reveal that most corporations have not and are not prepared to undertake cyber insurance cover, that is, the latest brand of insurance; thus, it is relatively new and has its origin in errors and omissions insurance, a special brand of insurance that provides cover against defects and faults for service companies. Errors and omissions insurance is the policy cover offered to companies that sell physical products. Cyber insurance has a lot of merits, but perhaps its newness and non-realization of the inherent benefits account for low adoption and patronage even in developed countries, which are ICT-centric due to high technological advancement. It is on the basis that corporate bodies appear apathetic to cyber insurance that this article strongly advocates that companies should embrace and give deserved attention to cyber insurance because it is in the best interest of corporations all over the world and for the overall well-being of society, so as not to truncate the economic and industrial wheels from running as expected, for the good of all.
SSRN Electronic Journal, 2014
Conflicts and wars are synonymous with humanity because of PIN; a theory propounded by conflict e... more Conflicts and wars are synonymous with humanity because of PIN; a theory propounded by conflict experts which means the Position, Interest and Needs of human beings who are dramatis personae in conflicts and war situations. Though the Security Council is vested with the onerous responsibility of maintaining international peace and security, this paper is of the view that the success attributable to the Security Council in its primary duty in other continents is satisfactory, but not in Africa where conflicts and wars are endemic. Currently, there are ongoing wars Congo, South Sudan and Central African Republic while serious armed conflicts are plaguing Nigeria, Kenya and Somalia. The reasons why conflicts and wars continue to be deep-seated in Africa are internal and external. This paper argues that no amount of intervention by the Security Council would possibly end the unfortunate spiral of conflicts and wars in Africa except Africans puts their house in order to frontally address the incessant conflicts and wars with its harrowing consequences on the people of Africa
SSRN Electronic Journal, 2015
SSRN Electronic Journal, 2016
It is well settled and far beyond controversy, that the exchange of goods and services is an impo... more It is well settled and far beyond controversy, that the exchange of goods and services is an important aspect of human life; the trading activity dates back to history as attested by “trade by barter” during the stone ages; in this modern time, countries of the world are not equally endowed with human and natural resources, moreover, the economic principle espoused by comparative advantage on one hand, the free market economy and globalization on the other, has invariably made trade and commerce, as well as inter-governmental commercial transactions, an indispensable aspect of human life. Hitherto, trade and commerce were facilitated under cumbersome conditions, but with the advent of telecommunications via the cyberspace, the face and nomenclature of business transactions changed irreversibly for better as contracting partners need not meet one another physically, yet, commercial exchanges running into millions of Dollars could easily be effected through electronic commerce. It is apparent that the telecommunications medium is the most economical way to transact businesses irrespective of the geographical separations between trading partners. The telecommunications industry could thus be aptly described as the gate-way to the global economy, due to the phenomenal volume of transactions in goods and services facilitated between thereof between persons, corporate, organizations and sovereign states. Today, trade and commerce have surpassed the rudimentary realm and no longer localized as in the past; it has metamorphosed and become internationalized; unfortunately, cybercriminals capitalize on the advantages occasioned by speed and volume of electronic transactions, to wreak havoc thereby causing huge economic losses, as well as other setbacks which may not be quantifiable financially. This paper argues that losses arising out cybercrimes shall continue as extant laws in place, cannot possibly address the menace as the said laws are fragmented, national and regional. The purpose of this paper, is to attempt a comprehensive account of the impact of cybercrimes on E-Commerce so as to raise awareness and appreciation of the problem, in the hope that a global solution shall be found to the challenges posed by cybercrimes to E-Commerce and of course, global economy.
SSRN Electronic Journal, 2014
Internally displaced persons (IDPs) are people who because of circumstances beyond their control ... more Internally displaced persons (IDPs) are people who because of circumstances beyond their control have had to flee their traditional homes as a result of natural or man-made threats to their lives. The general perception is that IDPs are not offered any protection by international law. This article argues that though there may not be too many laws specifically enacted at the global level to cater for the plight of IDPs but this category of people are well protected within the extant juris corpus of international laws; further, the Africa Union by virtue of the Kampala Convention which came into force on 6 December 2012 has taken the bull by the horn to ameliorate the burden of IDPs, the said convention is the first of its kind at the international level.
Cybercrime, a concept which to date has defied a globally accepted definition appears to be the l... more Cybercrime, a concept which to date has defied a globally accepted definition appears to be the latest scourge plaguing man and same has occupied the cynosure of attention. The word “cybercrime” is on the lips of almost everyone involved in the use of the computer and Internet be it individual, corporate, organization, national, multinational or international. The attention accorded cybercrimes is not far-fetched, on one hand, it is partly rooted in its unavoidable nature as a result of the fact that telecommunications via the cyberspace, is the veritable means by which social interaction, global trade and commerce are transacted; and on the other, the economic losses to which all citizens are exposed whether now or in the nearest future. Aside economic losses, other consequences of cybercrimes includes but not limited to setback to the brand image and company reputation otherwise known as goodwill, loss of intellectual property and sensitive data, opportunity costs which includes but not limited to service and employment disruptions, penalties and compensatory payments to affected clienteles, contractual compensation for delays, cost of countermeasures and insurance, cost of mitigation strategies and recovery from cyber-attacks, the loss of trade and competitiveness, distortion of trade and job loss. This paper argues that it is not as if relevant laws and regulations are not in place because some civilized nation in the world has in one form or another, laws against cybercrimes, yet, the challenge remains intractable and bewildering. As nations across the globe strives to curb cybercrimes through the instrumentality of the law, so are the cyber criminals devising new and sophisticated techniques thereby rendering impotent, the extant legal measures. This Article intends to bring to the fore, a comprehensive account of why cybercrimes remains an albatross in order showcase the enormity of the challenge faced by humanity in the hope that when the extent of the problem is known, may be, a global solution would timeously be fashioned out, to stem the tide of cybercrimes.
Keywords: Cybercrimes, cyber criminals, challenges, enforcement, losses.
The mobile telephone alternatively referred to as mobile handset, has immense advantages over the... more The mobile telephone alternatively referred to as mobile handset, has immense advantages over the traditional land line telephone in that it enables the user to traverse wherever he desires, and yet able to communicate with others either for purposes of transacting businesses or as a means of effecting social interactions, but notwithstanding the apparent advantages of mobile phones, like every coin having two sides, its use has demerits which as a matter of necessity, calls for regulatory measures to protect the subscribers; unfortunately, this is not the case in most African countries, for example, Nigeria reputed for the highest population in Africa ditto the highest number of mobile telephone subscribers in addition to being the biggest economy in the continent, does not have in place, law and policy specifically aimed at protecting or promoting the interest of its subscribers. The usage of mobile phones has assumed phenomenal increase recently; it is the norm rather than the exception in Africa but with the unfortunate trend of dearth of legal and regulatory measures. This Article deals with the legal and regulatory framework pertaining to mobile phones and examines issues relating to or consequences generated thereof. The paper argues that the extant legal and regulatory framework in Africa is not in the best interest of subscribers,’ and calls for a paradigm shift towards taking into cognizance the said interest of subscribers’ by governments’ with the view to putting in place, legal and regulatory precepts simply because the manufacturers of mobile phones and telephony companies, wherever they are situate or operate from, need and rely on the profits generated from African countries.
Abstract It is well settled and far beyond controversy, that the exchange of goods and services i... more Abstract
It is well settled and far beyond controversy, that the exchange of goods and services is an important aspect of human life; the trading activity dates back to history as attested by “trade by barter” during the stone ages; in this modern time, countries of the world are not equally endowed with human and natural resources, moreover, the economic principle espoused by comparative advantage on one hand, the free market economy and globalization on the other, has invariably made trade and commerce, as well as inter-governmental commercial transactions, an indispensable aspect of human life. Hitherto, trade and commerce were facilitated under cumbersome conditions, but with the advent of telecommunications via the cyberspace, the face and nomenclature of business transactions changed irreversibly for better as contracting partners need not meet one another physically, yet, commercial exchanges running into millions of Dollars could easily be effected through electronic commerce. It is apparent that the telecommunications medium is the most economical way to transact businesses irrespective of the geographical separations between trading partners. The telecommunications industry could thus be aptly described as the gate-way to the global economy, due to the phenomenal volume of transactions in goods and services facilitated between thereof between persons, corporate, organizations and sovereign states. Today, trade and commerce have surpassed the rudimentary realm and no longer localized as in the past; it has metamorphosed and become internationalized; unfortunately, cybercriminals capitalize on the advantages occasioned by speed and volume of electronic transactions, to wreak havoc thereby causing huge economic losses, as well as other setbacks which may not be quantifiable financially. This paper argues that losses arising out cybercrimes shall continue as extant laws in place, cannot possibly address the menace as the said laws are fragmented, national and regional. The purpose of this paper, is to attempt a comprehensive account of the impact of cybercrimes on E-Commerce so as to raise awareness and appreciation of the problem, in the hope that a global solution shall be found to the challenges posed by cybercrimes to E-Commerce and of course, global economy.
Keywords: Trade and commerce, E-Commerce, cybercrimes, cyber criminals, economic losses.