E-Business
Cyberoam 2014 IT Security Predictions Cite Hyper Attacks Underway
Cyberoam Technologies Private Limited, a global Network Security appliances company with a careful analysis of security and IT trends in the most recent past and a strong foresight that comes from years of industry experience and intelligent extrapolation of the past and the present, on Friday released it security predictions for 2014.
Cyberoam offers future-ready security solutions to physical and virtual networks in organizations with its Next-Generation Firewalls (NGFWs) and Unified Threat Management (UTM) appliances.
Thus, in its intelligent analyses of IT security in the new year came up with the following ten (10) predictions.
“Client-Side Software Exploits” – It Will Be!
Cyberoam Threat Research Labs foresees an increase in Client-side software exploits compared to the Server-side in next few years.
2013 has seen numerous such exploits where base client software like Microsoft and Adobe were exploited to spread the attack vectors across the network.
The recent Microsoft advisories indicating client side exploits also support this prediction. Reasons for this hike include increased scope of exploitation with increase in attack vectors, higher base of users who use these softwares, and lastly, the money involved in it.
The exploit kits used to exploit server side vulnerabilities cost much less than client side exploit kits, indicating the premium the latter demand. Realizing that client side exploits will bring in more money, the focus on exploiting client-side vulnerabilities will increase too!
Attack Vectors To Get More Intelligent
Attacks in 2013 have left us with one clear picture – the rising sophistication and professionalism among attackers. In times to come, Cyberoam predicts attacks, wherein the attackers will get more specific, both in terms of their objective and attack strategies.
Gone are the days when attacks were meant for the masses. Attackers now know whom and how they would attack and they are changing their attack strategies to hit straight on the bull’s-eye rather than shooting in the dark.
In addition to this, few attacks from 2013 indicate the evolution of attacks including proven components from already-used attacks, combined to form more detrimental attacks.
Attacks On Industrial Control Systems & Scada Systems To Continue
The amplified impact that an attack on Industrial Control Systems (ICS) can cause, justifies the interest attackers have on such systems. ICS/SCADA system attacks can cause catastrophic damage not only to a single unit but at times to an entire country/province.
It is the spread of impact compounded with lack of adequate security available in such systems that have made ICS/SCADA networks a lucrative target for attackers. As per statistics, there were 198 cyber attacks in 2012 and the numbers increased to 240 in 2013. Cyberoam predicts further rise in such attacks on ICS/SCADA networks in 2014 and beyond.
New Exploit Kits Will Be Explored And Used
Use of Blackhole exploit kit for attacks is a known fact. It is no secret that it was used extensively for attacks in the past. But with the arrest of ‘Paunch’ in 2013, the man behind the Blackhole exploit kit, new exploit kits are slowly showing up. In addition to this, as attacks utilising Blackhole exploit kit have been exposed, it emerges as a need among attackers to come up with new ways to target their victims.
Also, with recent trends showing rise in exploits based on client side vulnerabilities, Cyberoam predicts that this menace is only going to aggravate.
Increase In Need For Context-Aware Security
With increase in number of security features or solutions in an organization’s network to tackle emerging security risks, the job of security professionals is getting more complex. With rising number of devices, users and applications to monitor, this becomes even more difficult. The volume of data that the security appliance(s) offer on various parameters is becoming a problem for network administrators, presenting a need for context-aware security that enables faster decision making and action with the security intelligence it offers.
Cyberoam predicts an increase in demand for context-aware security for 2014. The rising need in context-aware security goes in continuation with Cyberoam’s prediction in 2013 regarding the rise in need for User Threat Quotient & Device Threat Quotient.
Security of Hybrid Cloud
In a generation of increased mobility where tablets and smart devices are displacing desktops and paper-based processes, more users are turning to Cloud, specifically the Hybrid Cloud, as it offers more efficiency , business optimization, access to real-time data and always-on availability.
However , the ability of Hybrid clouds to burst into the public cloud space when necessary is bringing up security concerns.
Although this capability is particularly useful to organisations, it may be a call for danger and users and security vendors are realizing this. Cyberoam predicts an increase in demand for security in Hybrid Cloud environments.
Browser-Based Attacks Are Still Hot!
In a bait to achieve sure-shot infection and victimize users, use of browser-based attacks like Water hole will further rise. This will include a rise in exploitation of browser vulnerabilities and also use of malicious websites. Attackers will continue to target users by directing them to trusted and commonly visited URLs which would be infected with malicious codes.
Water hole mechanism includes cyber offenders infecting websites that are frequently visited by their targets. In 2013, many have already agreed on the rise seen in watering holes. In fact a lot of hackers that were using spear phishing attacks to target users have also started using watering holes.
Mobiles Still Remain A Darling Of Malware Attackers And Exploits
Increasing base of smartphone users is a primary reason for attackers to find interest in attacking those devices. In addition to this, users use their personal devices to access work emails and connect to company networks, which aggravates this interest further.
Applications are the backbones of smart phones and most of the mobile apps lack adequate security, adding to the misery of security on mobile devices.
All of these factors collate to increase the interest attackers have in smart devices. 2014 is sure to experience newer and sharper mobile threats
“Internet of Things” Adds Security Risks For Home Devices
IOT- ‘Internet of Things’ is something we all are waking up to, these days. Everything seems to be on the Internet! Right from our work to social lives, and storage needs, Internet has also opened its doors to home devices now! As more and more home devices get connected to the Internet, it is obvious that attackers will soon find their way through them too.
Cyberoam predicts a rise in need for security solutions for home devices, besides your office devices. Because one thing is evident – the level of risk and quantum of vulnerability is similar, irrespective of whether the device resides in your home or in your office network.
Windows Users At Risk As Windows XP Comes To End-Of-Life
As Microsoft decides to stop supporting Windows XP after 8th April 2014, users will need to upgrade to newer Windows versions, and so will the attackers shift their focus to these versions.
Moreover, users who still continue to use Windows XP, will not have their vulnerabilities patched, leaving them open to exploits.
Jumia Nigeria, the country’s e-commerce platform, has introduced a new instalment payment option on its marketplace through a partnership with Buy Now, Pay Later (BNPL) provider Klump, giving customers another way to pay for purchases without bearing the full cost upfront.
The new option allows eligible customers to spread payments for selected purchases over a period of up to 12 months after making an initial deposit of between 20 and 30 percent. The partnership is expected to widen access to products such as smartphones, electronics, home appliances, and other everyday essentials for consumers who may prefer structured repayment plans over one-time payments.
Customers selecting the option at checkout can compare financing offers from participating financial institutions, complete a digital credit assessment, and, once approved, begin repayment through fixed monthly instalments. The introduction of instalment payments comes as digital commerce continues to evolve in Nigeria, with retailers exploring payment options that respond to changing consumer spending patterns and the growing demand for financial flexibility.
Commenting on the partnership, Chief Executive Officer of Jumia Nigeria, Temidayo Ojo, said the initiative reflects the company’s commitment to making online shopping more accessible to a wider range of consumers.
“We are constantly looking at practical ways to remove barriers to online shopping. For many customers, affordability is not always about the price of a product but about having payment options that fit their financial reality. By introducing instalment payments with Klump, we are giving customers greater flexibility while making quality products more accessible.”
He added that expanding payment choices forms part of Jumia’s wider effort to improve the overall customer experience and support the company’s ambition of becoming Nigeria’s everyday retail destination.
“Whether we are strengthening our logistics network, expanding product selection, or introducing new payment solutions, the goal remains the same: to make shopping on Jumia simpler, more convenient, and more accessible for customers wherever they are,” Ojo said.
Founded to simplify access to goods across Africa, Jumia has continued to invest in technology, logistics, and payment solutions to make digital commerce easier for consumers in both major cities and emerging markets across Nigeria.
The addition of instalment payments complements the range of payment methods already available on the platform and comes at a time when consumer demand for flexible financing options is increasing across the retail sector.
Celestine Omin, Co-founder and Chief Executive Officer of Klump, said the partnership aligns with Klump’s objective of expanding access to responsible consumer credit.
“When we started Klump, our mission was simple: to give Nigerians access to affordable credit wherever they shop. Today, we’re pleased to partner with Jumia to bring flexible instalment payments to one of Africa’s largest e-commerce marketplaces, making it easier for more customers to access the products they need,” Omin said.
Under the arrangement, Klump will provide the financing infrastructure while customers complete the application process digitally during checkout. Financing offers are provided through participating financial institutions, subject to approval.
For Jumia, the partnership represents another step in expanding the range of services available on its marketplace while supporting broader efforts to deepen digital commerce and financial inclusion. As more Nigerians turn to online shopping, the availability of flexible payment options is expected to lower one of the barriers to e-commerce adoption, particularly for higher-value purchases.
Customers can access the instalment payment option by selecting Klump at checkout on eligible products available on the Jumia platform.
The Lagos State Government has launched a new financing initiative that will provide single-digit interest loans of up to N10 million to micro, small and medium enterprises (MSMEs), in a major push to improve access to affordable credit and stimulate business growth across the state.
The initiative, known as the Lagos State Access to Finance for SMEs through Cooperatives (LASMECO) programme, offers eligible businesses loans at a fixed 9 per cent annual interest rate, with repayment periods of up to 36 months for term loans and 24 months for working capital facilities. Beneficiaries will also enjoy moratoriums of six months and three months respectively.
The scheme was unveiled on Monday during the opening of a three-day LASMECO Accelerator Training Workshop organised by the Ministry of Commerce, Cooperatives, Trade and Investment, in Lagos.
In her keynote address, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Bada Ambrose-Medebem, said the programme was designed to bridge the financing gap facing thousands of Lagos businesses that have been priced out of conventional lending because of high interest rates and stringent collateral requirements.
Ambrose-Medebem, represented by the Director of Cooperative Services, Adeyinka Adeyemi, noted that MSMEs account for about 80 per cent of employment and contribute roughly 75 per cent of Lagos State’s Gross Domestic Product (GDP), yet many struggle to access affordable credit as commercial lending rates range between 35 and 40 per cent.
According to the commissioner, LASMECO addresses the challenge by using registered cooperative societies as financial intermediaries and guarantors, allowing entrepreneurs to obtain loans without relying solely on conventional collateral.
Under the financing framework, she said borrowers will provide 10 per cent cash collateral, while their cooperative societies will guarantee 25 per cent of the loan, adding that Sterling Bank Plc would provide a 50 per cent guarantee, creating a layered risk-sharing structure that makes lending more accessible and sustainable.
The programme targets businesses in agriculture, manufacturing, healthcare, the digital economy, creative industries, tourism, environmental sustainability and education.
The commissioner disclosed that the Lagos State Government has released its counterpart funding, while the Bank of Industry (BOI) has matched the state’s contribution, paving the way for loan disbursement, saying that BOI would serve as co-funder and final loan approver, while Sterling Bank would process applications, conduct credit assessments, disburse funds and recover repayments.
The commissioner reaffirmed the Lagos State Government’s commitment to ensuring the success of the initiative, expressing confidence that the programme would unlock affordable financing for thousands of entrepreneurs while boosting employment, productivity and economic development across the state.
Earlier, the Permanent Secretary in the ministry, Mr Babatunde Onigbanjo, said the workshop marked the transition of LASMECO from policy to implementation, stressing that the programme was fully funded and ready for rollout.
He said all necessary groundwork had been completed, including the release of counterpart funding, execution of memoranda of understanding and onboarding of accelerator organisations, adding that participants were now being equipped to begin recruiting and preparing loan beneficiaries.
According to him, the three-day workshop is designed to prepare accelerator organisations to identify eligible MSMEs, assess their credit readiness, compile loan applications and support borrowers from application through disbursement and repayment.
Onigbanjo urged participants to focus on quality rather than quantity in recruiting loan applicants, warning that poorly prepared businesses could increase loan defaults and undermine the programme.
He stressed that accelerator organizations would only be paid when the businesses they support successfully secure funding, saying the arrangement was intended to align their interests with the success of the programme.
The permanent secretary also emphasised that every loan applicant must belong to a registered cooperative society, describing the cooperative model as central to the programme because cooperatives provide a 25 per cent guarantee for every facility while helping to formalise informal businesses.
He disclosed that Lagos has more than 13,000 registered cooperative societies, although only about 1,900 to 2,200 are currently active, adding that reviving dormant cooperatives would significantly expand access to the financing scheme.
Onigbanjo warned accelerator organizations against charging applicants processing, training or evaluation fees, stressing that the only approved deductions are a N200,000 accelerator support fee and a one per cent BOI appraisal fee, both payable only after successful loan disbursement.
He said the state would closely monitor loan recovery, business growth, job creation, cooperative compliance and portfolio performance, adding that only accelerator organisations that deliver strong results would remain in the programme.
The permanent secretary described LASMECO as more than a loan scheme, saying it is also a strategy to formalise businesses, strengthen cooperatives, promote industrialization and drive inclusive economic growth across Lagos.
He urged participants to make full use of the workshop to prepare for immediate enrolment of qualified businesses, insisting that the programme had moved beyond planning and was now ready for implementation.
Socio-Economic Rights and Accountability Project (SERAP) has threatened to drag the National Assembly to court over a proposed amendment to the Nigeria Data Protection Act, which it alleges could indirectly empower the government to shut down social media platforms in Nigeria.
SERAP, which made the threat in an open letter to Godswill Akpabio, Senate President, and Tajudeen Abbas, speaker of the House of Representatives, urged them to immediately reject and withdraw the Nigeria Data Protection (Amendment) Bill, 2026, sponsored by Senator Ned Nwoko (APC, Delta North).
The civil organisation described the proposed legislation as a “backdoor attempt” to regulate social media and expand government control over online expression.
It further warned that if the bill is enacted in its current form or a substantially similar one, it would “promptly take all appropriate legal actions” to challenge its legality in the public interest and protect the fundamental rights of Nigerians.
The bill seeks to compel social media platforms, data controllers, and data processors operating in Nigeria to establish physical offices in the country.
It further empowers the Nigeria Data Protection Commission (NDPC) to shut down or prohibit the operations of any entity that fails to comply within 30 days.
SERAP, in the letter dated July 18, 2026 and signed by Kolawole Oluwadare, deputy director, SERAP, argued that the proposed powers could enable an administrative agency to impose what would effectively amount to a nationwide restriction on digital communication without adequate judicial or procedural safeguards.
“The Bill constitutes a backdoor attempt to regulate social media and increase governmental control over online expression through corporate localisation requirements rather than through transparent and constitutionally permissible regulation,” the organisation said.
It also maintained that the proposed localisation requirement could increase government leverage over technology companies, facilitate political pressure, and make censorship demands easier to enforce.
SERAP further warned that requiring companies to establish local offices could expose their employees in Nigeria to retaliation.
The organisation said the proposed amendment could affect millions of Nigerians who rely on digital platforms to exercise their rights to freedom of expression, access information, associate with others, participate in political life, conduct business, pursue education, and engage in civic advocacy.
SERAP particularly criticised the proposed power of the NDPC to prohibit entities from operating in Nigeria after a 30-day period of non-compliance.
It said the bill contains no requirement for prior judicial authorisation, no obligation to consider less restrictive alternatives, and no meaningful safeguards to assess the impact of a prohibition on the fundamental rights of millions of Nigerians.
“In effect, the Bill empowers an administrative agency to impose sanctions comparable to a nationwide restriction on digital communication without the procedural guarantees ordinarily required whenever fundamental rights are at stake,” it said.
SERAP argued that the proposed provision could not withstand scrutiny under Section 45 of the Nigerian Constitution, which permits restrictions on fundamental rights only when prescribed by law, pursued in the pursuit of a legitimate aim, and reasonably justifiable in a democratic society.
While recognising the government’s legitimate interest in ensuring that digital platforms comply with Nigerian law, the organisation contended that such regulation must meet the constitutional criteria of necessity and proportionality.
“There is no evidence that existing powers under the Nigeria Data Protection Act are inadequate, that current enforcement mechanisms have failed, or that less restrictive alternatives would be insufficient,” it stated.
SERAP further cautioned that the proposed legislation could recreate the repercussions of the Federal Government’s suspension of Twitter, which the ECOWAS Court of Justice previously criticised
In SERAP and Others v. Federal Republic of Nigeria, the regional court ruled that the Twitter suspension infringed rights to freedom of expression, access to information, and media freedom protected under the African Charter on Human and Peoples’ Rights.
Although the proposed amendment differs from the Twitter suspension, SERAP argued that it might produce a similar outcome indirectly by empowering regulators to bar digital platforms from operating in Nigeria.
“The National Assembly should not enact legislation capable of producing, through indirect regulatory means, the very restrictions on fundamental rights that regional human rights law prohibits,” the organisation emphasised.
It also cited Section 39 of the Nigerian Constitution, Article 19 of the International Covenant on Civil and Political Rights, and Article 9 of the African Charter, as securing freedom of expression and access to information.
SERAP maintained that international human rights standards mandate restrictions on freedom of expression to be lawful, necessary, proportionate, and the least intrusive means available to achieve a legitimate public goal.
The organisation additionally warned that mandatory localisation requirements could undermine Nigeria’s digital economy and innovation ecosystem by raising compliance costs for technology firms, start-ups, open-source projects, educational institutions, research organisations, and artificial intelligence developers.
It argued that the proposed amendment might make Nigeria less attractive to technology investors and conflict with the objectives of the Nigeria Startup Act 2022 and the National Digital Economy Policy and Strategy.
“The National Assembly should not achieve indirectly through regulatory localisation requirements what it cannot constitutionally achieve directly through restrictions on social media. The practical consequences for millions of Nigerians would be indistinguishable from a platform ban,” SERAP stated.
It urged Akpabio and Abbas to reject and withdraw the bill, warning that its enactment would breach the Nigerian Constitution and Nigeria’s commitments under international and regional human rights instruments.
“The National Assembly should seize this opportunity to demonstrate its commitment to constitutional democracy, the rule of law, and Nigeria’s digital future by immediately withdrawing the Bill,” SERAP added.
YEDC Warns Customers, Says 20 Percent Electricity Bonus is Scam
FG to Support 12 Tech Startups with N482m under iDICE
NBC, INEC, Plan Joint Broadcast Monitoring Framework ahead of 2027 Elections
No Going Back on July 31 Deadline for Insurance Firms’ Recapitalisation – NAICOM
Court Affirms FCCPC’s Power to Regulate Digital Lending
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
News1 day agoNIMASA Unveils Accelerator Scheme to Drive Innovation, Sustainable Growth
E-Financial1 day agoAccess Holdings Sells 7.44% Stake in Ghana Unit
E-Financial1 day agoNRS Issues July 31 Deadline for e-Invoicing Compliance
E-Business1 day agoSERAP to Sue NASS over Bill Empowering NDPC to Regulate Social Media
E-Financial1 day agoNDIC Urges Youths to Shun Ponzi Schemes, Embrace Savings
News1 day agoICPC Secures Final Forfeiture of N941m Linked to IPPIS Fraud
News1 day agoAdebutu, PDP Chieftain Accuses Nigerian Governors of Embezzling LG Allocations
News1 day agoeBusinessLife Advocates Greater Support for Girls in ICT as Students Showcase AI Innovations