E-Business
Mobility: 64% Data Breaches Linked to Identity Theft

Security concerns over convergence of personal and workplace identities are on increase, as identity theft accounts for 64% of all data breaches across the globe.
In the latest report by Gemalto, it is revealed that consumer service breaches continue to rise, resulting in almost nine in ten (89%) enterprises addressing their access management security policies.
According to the report, 90% of IT professionals are concerned about employees using their personal credentials for work purposes, even as 62% of enterprises feel increasing pressure to match consumer authentication methods in the workplace.
The use of two-factor authentication is on the rise, with 40% of organizations’ employees using it.
Gemalto, the world leader in digital security, released the findings of its “Authentication and Identity Management Index”, which revealed that 90% of enterprise IT professionals are concerned that employee reuse of personal credentials for work purposes could compromise security.
However, with two thirds (68%) saying they would be comfortable allowing employees to use their social media credentials on company resources, Gemalto’s research suggests that personal applications (such as email) are the biggest worry to organizations.
The enterprise and consumer worlds are merging closer together, with enterprise security teams under increasing pressure to implement the same type of authentication methods typically seen in consumer services, such as fingerprint scanning and iris recognition.
Thus, Gemalto study shows six in ten (62%) believed this was the case, with a similar amount (63%) revealing they feel security methods designed for consumers provide sufficient protection for enterprises.
In fact, over half of respondents (52%) believe it will be just three years before these methods merge completely.
Employee expectations around usability and mobility are affecting how enterprises approach authentication and access management.
Nearly half of respondents stated that they are increasing resources and spending on access management.
Deployment rates are also increasing: 62% expect to implement strong authentication in two years’ time – up from 51% of respondents who said the same thing last year, and nearly 40% responded they will implement Cloud SSO or IDaaS within the next two years.
Enterprises are clearly seeing the benefits, with over nine in ten (94%) using two-factor authentication to protect at least one application and nearly all respondents (96%) expecting to use it at some point in the future.
Mobility security still a challenge, says the report. As more enterprises become mobile, the challenges in protecting resources while increasing flexibility for employees working on the move increases.
Despite an increasing amount of businesses enabling mobile working, a third (35%) completely restricted employees from accessing company resources via mobile devices and nine in ten (91%) are at least part-restricting access to resources.
This is backed up as half of businesses (50%) admit security is one of their biggest concerns to increasing user mobility.
In order to protect themselves against threats from increased mobility, enterprises are still most likely to be using usernames and passwords – two thirds of users at respondents’ organizations are using this authentication method, on average.
Currently, 37% of users at respondents’ organizations are required to use two-factor authentication to access corporate resources from mobile devices, on average. However, like the rise for access while in the office, on average, respondents believe this will increase to over half (56%) in two years’ time.
“From credential sharing to authentication practices, it’s clear that consumer trends are having a big impact on enterprise security,” said François Lasnier, Senior Vice President, Identity Protection at Gemalto. “But businesses need to make sure their data isn’t compromised by bad personal habits. It’s encouraging to see deployment of two-factor authentication methods on the rise, and increased awareness for cloud access management, as these are the most effective solutions for businesses to secure cloud resources and protect against internal and external threats. For IT leaders, it’s important that they keep pushing for security to be a priority at the board level, and ensure that it’s front of mind for everyone in an organization.”
Reacting to the report, Mr. Olufemi Ake, country manager, ESET West Africa told Nigeria CommunicationsWeek confirmed that the uptake of Bring Your Own Device (BYOD) in the region is one of the primary factors leading to breaches.
Ake said in a telephone interview “In fact, this report is factual based on our experiences with clients in this region. In as much as BYOD offers organizations flexibility in workplace, it is also creating challenges, especially when the device was not checked for malicious content right from the beginning.
“Employees now access and process company data even from home, most times, using personal emails. It is difficult to manage, unless you mandate them, right from the time of recruitment, on how company data must not be used.
“This has given rise to security solutions like Safetica which helps to monitor devices; how files are moved from the computer, uses or reused and for what purpose”.
He added that the report implies companies must not relent with regards IT security in the coming year and moving forward.
E-Business
Global Crypto Heists Surge to $2.1Bn in H1 2025 as Digital Assets is Weaponised

In a sobering revelation of the evolving threat landscape facing the digital asset ecosystem, blockchain intelligence firm TRM Labs has disclosed that over $2.1 billion worth of cryptocurrency was stolen in the first half of 2025 alone, spanning at least 75 high-profile hacks and exploits.
This staggering figure marks a 10 per cent surge over the previous first-half record set in 2022 and nearly eclipses the total stolen in all of 2024.
But beyond the monetary scale, the report reveals a deeper concern: a growing trend of state-sponsored cyber aggression weaponising crypto assets for strategic and geopolitical purposes.
The most devastating breach to date occurred in February when Dubai-based exchange Bybit lost $1.5 billion—the largest crypto heist in history.
TRM Labs attributes the attack to North Korean state actors, noting that the incident alone accounted for nearly 70 percent of total losses during the period and doubled the average hack size to $30 million.
“The Bybit hack redefined the threat landscape,” the report stated.
“It exemplifies how digital asset theft has transcended criminal opportunism and morphed into a tool of statecraft.”
Indeed, North Korea-linked entities were responsible for an estimated $1.6 billion of the total stolen, further entrenching Pyongyang’s status as the most prolific nation-state threat actor in the crypto sphere.
Yet the menace is diversifying. On June 18, Iranian crypto exchange Nobitex was breached for over $90 million by a group reportedly linked to Israel, Gonjeshke Darande (Predatory Sparrow).
Unusually, the stolen funds were routed to unusable vanity addresses, underscoring symbolic and political motives rather than financial gain.
TRM Labs flagged this as a “disturbing shift,” with digital asset theft increasingly deployed as a weapon in asymmetric geopolitical conflict.
The report also found that more than 80 percent of losses stemmed from infrastructure breaches, including private key theft, seed phrase leaks, and front-end compromises— attacks typically ten times costlier than other vectors.
Meanwhile, DeFi exploits such as flash loan manipulations accounted for 12 percent of losses, reflecting persistent smart contract vulnerabilities despite years of scrutiny.
As digital currencies become enmeshed in global rivalries, TRM Labs warns that conventional cybersecurity approaches are now inadequate.
“Massive breaches, often tied to nation-state operations, require a new defence paradigm,” the firm asserted, urging industrywide adoption of advanced safeguards and cross-border collaboration among regulators and law enforcement.
E-Business
CAC Launches AI-powered Business Registration Portal

Corporate Affairs Commission (CAC) has inaugurated the pilot take-off of its new Artificial Intelligence (AI)-powered registration portal.
A statement issued by the commission explained that Malam Hussaini Magaji, registrar-general of the CAC, made the announcement during the 2025 Stakeholders Forum in Port Harcourt.
According to him, “the initiative is a major milestone in Nigeria’s business facilitation drive.”
The Registrar further explained that the upgraded portal marks a complete overhaul of the Company Registration Portal (CRP), saying that it comes with advanced features designed to simplify and speed up business registration.
The new system, according to him, allows for instant name reservation approvals, likening the ease to creating an email account, and stressing that the AI-powered platform could suggest available alternatives to business names and approve them immediately.
Another innovation, he stated, is the ability to register a business using only the National Identification Number (NIN) of a director or proprietor, pointing out that there is an ambitious target of completing business registration and certificate generation within 30 minutes, subject to real-time NIN validation.
E-Business
Bitget Launches Institutional Services to Empower Fintech Innovation

Bitget has launched its institutional services in Nigeria, offering fintech companies a robust platform to build innovative solutions on top of Bitget’s suite of institutional-grade offerings.
Gracy Chen, CEO, Bitget, in a statement said, “Our goal is to empower Nigerian businesses to innovate and leverage blockchain for wealth creation opportunities, hence, the institutional services empower fintech leaders with tailored solutions, as the offerings designed to cater for the unique operational needs of institutional clients, enabling businesses to embed trading functionalities like spot and futures markets, wallet management, and more, directly into their platforms.
“The Key services include White-label Broker Services which enabled Fintech companies to deploy customized crypto exchanges using Bitget’s infrastructure while managing branding and users independently. There is also API Solutions that can make the Developers to integrate trading functionality via APIs for spot, margin, and derivatives markets, ensuring fast execution and seamless experiences for end users.”
Chen added, “The ND Broker Model provides clients with complete autonomy over user-facing platforms, offering exclusive front-end flexibility while relying on Bitget for back-end market liquidity. Clients are able to employ Protection Fund and Proof of Reserves of over $600million secured in the Bitget Protection Fund and real-time Proof of Reserves, which gives clients assurance of maximum transparency and security.”
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