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71% of African CEOs Express Concern About Cyber Threats

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Africa’s CEOs are confident that the outlook for business on the continent remains positive notwithstanding the unpredictable economic and socio-political climate, but not without concerns about the increasing cyber threats.

PwC’s Africa Business Agenda report shows that 85% of African CEOs (Global: 85%) are confident in their own company’s prospects for revenue growth over the next 12 months.

Despite the fact that only 30% of CEOs in Africa (Global: 29%) believe the global economy will improve in the next year, no less than 97% (Global: 91%) are confident about the prospects for their own company’s growth in the medium term.

Hein Boegman, CEO for PwC Africa, said: “This level of optimism is the highest recorded since we started our research on Africa CEOs in 2012. However, in the past year we have seen a change in the outlook for some countries as external developments impact many of the drivers of Africa’s growth.

“As countries around the globe try to make sense of the increased levels of risk and uncertainty that have gripped the world, Africa needs to continue rising by capitalising on all the opportunities that lie ahead.”

The report suggests that one of the reasons for such optimism on the Africa continent is that CEOs have learned to look for the upside and seize on opportunities that may arise in the face of uncertainty.

In the wake of climate of muted growth, CEOs have also acknowledged that while they focus on organic growth and cost reductions, they also need to prioritise investment in new strategic alliances and joint ventures to expand their markets and grow their customer bases.

According to the survey, organic growth (Africa: 80%; Global: 79%) and new alliances (Africa: 69%; Global: 48%) are the top activities CEOs are planning in order to drive corporate growth or profitability.

The Agenda compiles results from 80 interviews with CEOs across 11 countries in Africa and includes insights from business.

The results are benchmarked against the findings of PwC’s 20th Annual Global CEO survey of 1 379 CEOs in 79 countries conducted during the 4th quarter of 2016. The Agenda provides an in-depth analysis and insights into how businesses are adopting to meet the challenges of operating in Africa.

Notwithstanding the current climate and challenges, it is notable that there remains a significant amount of potential to unlock more growth on the continent. African CEOs are looking to international markets for opportunities, with the US (31%), China (28%) and the UK (24%) considered the top three countries for growth. Johannesburg (36%), Lagos (16%) and Cape Town (14%) are considered the top three African cities for growth opportunities.

Main risks to doing business in Africa
Although the returns for doing business on the continent can be high, so too can the risks. Africa’s CEOs are working in difficult times – finding the right talent for their business, dealing with hurdles that come with working with governments, and managing expansion plans across the continent.

In addition, infrastructure remains a challenge as it lags well behind that of the rest of the world. More than two-thirds of African CEOs (69%) are concerned about inadequate basic infrastructure (Global: 54%) and a stronger focus on expanding power supply is required to solve one of the biggest challenges in the business environment.

Other clouds on the business horizon include exchange rate volatility (Africa: 90%; Global: 70%); social instability (Africa: 85%; Global: 68%); geopolitical instability (Africa: 79%; Global: 74%); unemployment (Africa: 79%; Global: 45%); and climate change and environmental damage (Africa: 64%; Global: 50%).

For most of these factors, the level of concern among African CEOs is higher than the global average. In addition, over-regulation features on the list of concerns this year, with almost half (46%) (Global: 42%) of African CEOs saying they are “extremely concerned”.

CEOs also believe social instability resulting from inequality, an increasing tax burden, a lack of economic diversity with an overdependence on natural resources, and corruption remain problems in many countries.

Globalisation
Overall, globalisation has benefitted connectivity, trade and mobility. However, just over half of African business leaders say globalisation has done nothing to promote equality, in particular in closing the gap between rich and poor – in fact, this gap may well be widening.

A number of CEOs think it is vital to address social challenges. CEOs believe the corporate community can assist in spreading the benefits of globalisation more widely. The majority say the best way is to collaborate, particularly with government. “While Africa’s potential is undoubted, its achievement remains in question. Business, government and civil society will need to work harder to turn potential into tangible gains against the backdrop of a rapidly changing world,” Dion Shango, CEO of PwC Southern Africa added.

Talent and technology
The forces of globalisation and technology are increasingly transforming the workplace. Over half of African CEOs (53%) are exploring the benefits of humans and machines working together in the workplace. Over a third of African CEOs (36%) are considering the impact of artificial intelligence on future skills needs.

In some sectors, automation has already replaced some jobs entirely. “As automation takes deeper root in the workplace, companies in Africa will have to increasingly focus on achieving the right cognitive re-apportionment between man and machine,” Shango said.

However, as CEOs develop their services, they are finding that human interaction in the workplace is still important and place the investment in talent as a top business priority. Just over half of African CEOs (51%) plan to increase their headcount in the next 12 months.

Conversely, 23% plan to cut their company’s headcount over the coming year, with more than two-thirds of expected reductions being attributed to automation and other technologies.

According to the survey results, no less than 80% of African CEOs (Global: 77%) see the availability of key skills as the biggest threat to growth (ahead of volatile energy costs and cyber threats). They are finding it particularly difficult to source soft skills – adaptability, problem solving, creativity and leadership.

Technology & trust
Technology has brought about a number of advancements in efficiency and the ease of doing business in Africa. No less than 91% of African respondents (Global: 90%) believe technology has changed competition in their industry in the past five years.

While the digital era offers a host of opportunities, it also creates significant challenges and constraints in the arena of privacy and security.

Organisations are holding increasingly large volumes of personal data about their customers, suppliers and employees.

According to the survey results, 71% of African CEOs (Global: 61%) say they are concerned about cyber threats.

Furthermore, the vast majority of African CEOs (93%) (Global: 91%) believe that cybersecurity breaches affecting personal information or critical systems will negatively impact stakeholder trust levels in their organisations in the next five years.

A high 96% of business leaders are also concerned that IT outages and disruptions could impair trust in their respective industries over the next five years.

As disruptions gain more speed, the ability to ensure trust, security and privacy across all interactions will become critical to businesses’ competitiveness. But almost two-thirds of African CEOs (61%) (Global: 59%) are concerned that they are not prepared to respond to a crisis in their business, should one arise.

“In the face of economic and socio-political uncertainty, we remain confident that the outlook for business in Africa remains positive. But to succeed, businesses need to adapt swiftly to change,” Shango concluded.

 


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E-Business

CPN Begins Crackdown on Quack IT Professionals, Vows Tougher Action against Cybercrime

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Computer Professionals (Registration Council of Nigeria), also known as CPN has begun a nationwide crackdown on quackery and unlicensed practices in a bid to strengthen professional standards in the country’s information technology sector.

CPN Begins Crackdown on Quack IT Professionals, Vows Tougher Action against Cybercrime

CPN has also  vowed tougher action against cybercrime in the country.

These were the major decisions taken at its 2026 Information Technology Professionals’ Assembly and Annual General Meeting (AGM) on Friday

Essien Eyo, president and chairman of Council of CPN, speaking at a virtual press conference, said the council would continue to enforce strict compliance with professional regulations to safeguard the integrity of Nigeria’s computing ecosystem.

He warned that the council would not tolerate unlicensed practice in the sector, stressing that regulatory enforcement would be strengthened in line with its statutory mandate.

“The Act makes it mandatory for all persons and organisations seeking to engage in computing and professional services to be registered and licensed by the council.

“It is illegal to engage in computing and professional practice without satisfying the requirement of registration and possession of a valid licence,” Eyo said.

He added that the council was determined to rid the sector of quackery and ensure that only qualified professionals are allowed to operate.

“CPN is committed to ensuring high professional ethics and standards, and we will continue to intensify efforts to eliminate quackery, arbitrary practice and lack of standards in the IT sector,” he stated.

Eyo disclosed that the 2026 IT Professionals’ Assembly, scheduled for May 13 and 14 at the NAF Conference Centre, Kado, Abuja, would serve as a key platform to advance regulatory compliance, professional development and industry collaboration.

The event, now in its 20th edition, has the theme, “Digital Resilience and Inclusion for Smart Economy,” and aligns with Nigeria’s broader digital economy and Renewed Hope Agenda.

He explained that the theme reflects the urgent need to build a secure, inclusive and resilient digital ecosystem capable of withstanding modern technological disruptions.

“In an era defined by rapid technological change, cybersecurity threats, economic disruptions and evolving digital demands, resilience ensures that digital infrastructure and institutions can withstand shocks and sustain growth,” Eyo said.

“At the same time, inclusion guarantees that no segment of society is left behind in accessing digital opportunities.”

He said the assembly would also focus on emerging digital risks, ethical technology deployment, inclusive policy frameworks and strengthening collaboration among government, industry, academia and civil society.

Eyo further noted that the event would feature the induction of new members into the computing profession and would be delivered in a hybrid format to ensure wider participation.

“The 2026 IT Professionals’ Assembly is not just an event but a strategic platform for shaping Nigeria’s digital destiny,” he said.

He confirmed that the keynote address would be delivered by Bosun Tijani, minister of Communications, Innovation and Digital Economy.

Also speaking,  Aliu Abdullahi, vice president of Council, said the establishment of CPN was a Federal Government response to the need for proper regulation of Nigeria’s growing IT sector.

He said the council’s mandate includes setting professional standards, accrediting academic programmes, conducting examinations, regulating practice, enforcing ethics and maintaining the national register of computing professionals.

Abdullahi reiterated that all individuals and organisations engaged in IT training, computing services and related activities must be duly registered and licensed by the council.

He urged media organisations to support public awareness of the council’s activities, especially the forthcoming assembly, which he described as critical to strengthening Nigeria’s digital governance and professional integrity.


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Nigeria Hit by 24.1m Data Breaches – Surfshark

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Surfshark, a Netherlands-based cybersecurity firm, has reported that Nigeria recorded about 24.1 million compromised user accounts since 2004, making it the third most affected country in Sub-Saharan Africa.

Nigeria Hit by 24.1m Data Breaches - Surfshark

The report, which analysed global data breach trends for the first quarter of 2026, showed that Nigeria recorded 281,500 leaked accounts between January and March 2026, ranking the country as the 34th most breached nation globally during the period.

Globally, the report revealed that 210.3 million accounts were breached in the first quarter of 2026, representing a sharp increase compared to previous periods.

The United States accounted for 29 per cent of all reported breaches worldwide, followed by France, India, Brazil and the United Kingdom.

According to the report, cyber threats targeting Nigerian users have continued to intensify over the years, exposing millions of individuals to risks such as identity theft, account hijacking, extortion and financial fraud.

Surfshark disclosed that about 7.5 million unique email addresses linked to Nigerian users have been exposed since 2004, while approximately 13 million passwords were leaked alongside compromised accounts.

The report noted that more than half of breached Nigerian users remain vulnerable to cyber-related crimes.

“Statistically, 10 out of 100 Nigerian people have been affected by data breaches,” the report stated.

Further analysis showed that leaked data linked to Nigerian users included highly sensitive information such as Social Security-related records, payment card details, residential addresses, and personal contact information.

According to the report, about 3,900 Social Security-related records and 1,600 payment card details were exposed, alongside 1.9 million phone numbers and more than 925,000 residential addresses.

The cybersecurity firm warned that the growing scale of data exposure reflects increasing vulnerabilities in the global digital ecosystem as businesses accelerate the adoption of artificial intelligence technologies.

Commenting on the trend, Tomas Stamulis, chief security officer, Surfshark, said the rapid integration of AI systems by companies has significantly expanded the volume of user data being collected and stored.

According to him, businesses are increasingly relying on AI-driven tools for automation, analytics and operational efficiency, leading to the accumulation of larger datasets that could become attractive targets for cybercriminals.

The report cited industry statistics indicating that 20.2 per cent of companies used AI technologies in 2025, up from 8.7 per cent in 2023.

“These AI-driven systems collect and log more detailed user information for automation, analytics, and model improvement,” Stamulis said.

He added that while artificial intelligence improves productivity and operational efficiency, it also increases the number of systems organisations must secure, thereby creating additional opportunities for cyberattacks and data leaks.

Stamulis further warned that compromised personal information often retains value for cybercriminals long after passwords or email credentials have been changed.

According to him, hackers frequently combine old and newly leaked information into so-called “combo lists,” which are repeatedly traded or deployed for fraudulent activities and identity theft schemes.

He advised internet users to minimise the amount of sensitive personal information shared online, use alternative email identities or masking services where possible, and provide confidential information only when necessary.

The report also showed that global breached accounts in the first quarter of 2026 tripled compared to the corresponding period of 2025 and rose by 22 per cent relative to the fourth quarter of 2025, underscoring the growing sophistication and frequency of cyberattacks worldwide.


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NITDA Warns of  AI-Powered DeepLoad Malware Targeting Banks, Govt Agencies

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National Information Technology Development Agency (NITDA), has raised alarm over a new artificial intelligence-powered malware known as “DeepLoad,” warning that the cyber threat is actively targeting Nigerian government agencies, financial institutions, businesses and individuals.

NITDA Warns of  AI-Powered DeepLoad Malware Targeting Banks, Govt Agencies

The agency disclosed this in a critical advisory issued through its Computer Emergency Readiness and Response Team (CERRT.NG) and shared via its official X account.

The warning comes amid a growing wave of cyber-attacks targeting Nigerian organisations, including private institutions such as banks and government agencies like the Corporate Affairs Commission (CAC).

According to NITDA, DeepLoad is an AI-enhanced malware strain designed to infiltrate systems, steal sensitive information and evade conventional antivirus detection systems.

“The malware is distributed through a social engineering technique involving fake website error,” the advisory stated.

NITDA explained that the malware spreads through deceptive website prompts that trick users into executing malicious commands on their computers.

“Once executed, DeepLoad silently installs itself, harvests stored credentials and sensitive data from major browsers, and leverages artificial intelligence to evade antivirus detection,” the agency said.

The agency further warned that one of the most dangerous features of the malware is its ability to remain active even after attempted removal.

“Critically, the malware incorporates a hidden WMI-based persistence mechanism capable of reactivating the infection up to three days after apparent removal,” it stated.

NITDA stressed that the severity of the threat requires immediate action from both organisations and individuals across the country.

“Given its severity and confirmed active targeting of Nigerian entities, all organizations and individuals must implement the protective measures outlined in this advisory immediately,” the agency added.

The agency warned that individuals, government institutions, businesses, large organisations and small enterprises are all vulnerable to the rapidly evolving cyber threat posed by DeepLoad.

According to NITDA, a successful DeepLoad infection could grant cybercriminals unauthorised access to bank accounts, mobile money services and payment cards, while also enabling the theft of passwords, documents and sensitive personal information stored on web browsers.

The agency warned that the stolen information could be exploited for identity fraud, allowing criminals to impersonate victims for financial gain.

For organisations, NITDA said infections could trigger operational disruptions requiring complete system isolation and remediation procedures. It added that attacks on government systems could compromise classified networks and pose broader national security risks.

To prevent infections, NITDA advised Nigerians never to paste commands from websites into their computers, noting that legitimate software providers do not request such actions.

The agency also cautioned users against opening suspicious files such as “Chrome Setup” or “Firefox Installer” from USB drives and advised that all external storage devices be scanned with antivirus software before use.

NITDA further recommended enabling two-factor authentication on important accounts and avoiding the storage of banking passwords directly on web browsers.

For organisations, the agency urged companies to immediately sensitise staff about the DeepLoad threat, enable PowerShell Script Block Logging across Windows systems and review browser extensions for unauthorised installations.

The advisory also recommended blocking malicious domains, including holiday-updateservice[.]com, forest-entity[.]cc and hell1-kitty[.]cc, at firewall and DNS levels.

Additionally, organisations were advised to check for hidden WMI Event Subscriptions that could allow the malware to survive standard cleanup procedures.

NITDA said institutions that suspect infections should immediately disconnect affected systems from the internet, change all passwords from clean devices, isolate compromised systems, activate incident response teams and report incidents to the agency within 72 hours as required by law.

The latest warning has added to growing concerns over cyber attacks targeting Nigeria’s financial and digital infrastructure in recent months.

In April, the Nigeria Data Protection Commission (NDPC) warned about coordinated cyber threats targeting Nigeria’s financial systems and critical digital infrastructure, urging organisations to strengthen their data protection architecture.

The warning also followed the commission’s announcement of an investigation into an alleged data breach involving Remita Payment Services, Sterling Bank and other entities.

Similarly, the Corporate Affairs Commission (CAC) temporarily shut down its website between April 17 and April 20, 2026, following reports that about 25 million documents may have been exfiltrated during a suspected cyber attack.

 


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