E-Business
Experts Urge Nigerians to Wary of Cyber Attacks

Cyber security experts and international data organisations have warned Nigerians to wary of activities of cyber criminals hiding under the anonymity of the information super highway.

Nigeria has been the main target of cybercriminals for the past two years because many of its businesses had moved online during the coronavirus-induced lockdown.
Kaspersky, global cybersecurity and digital privacy company, reports that leading countries in Africa, including Nigeria, have experienced 85 million malware attacks in just six months.
The data showed that South Africa, the most targeted had 32 million attacks, followed by Kenya with 28.3 million, Nigeria with 16.7 million cyber attacks, while Ethiopia had 8 million attacks.
However, Nigeria and Ethiopia have had the highest increase of cyber attacks on the continent compared to the pre-COVID-19 year. Nigeria, Ethiopia and South Africa recorded an increase of 23 per cent, 20 per cent and 14 per cent, respectively, with Kenya being the only country that saw a decrease of 13 per cent.
Nigeria seems to be the most hit. Yet, experts see more attacks on businesses as the movement toward Internet-of-Things (IoT), Artificial Intelligence, and cloud computing continues to gain momentum. But this also exposes businesses to cyber-attack risks.
However, the cyber security experts said this type of gloomy data should spur responsible, conscious and forward-thinking corporate and large businesses heavily exposed to e-commerce to adopt strategies for mitigating these risks.
But small businesses are not left off the ugly trend. Recent findings show that enterprises with less than 200 employees lose an average of $2.5 million each due to cyber threats. Nigerian SMEs inclusive.
Sophos Group believes that 86% of Nigerian companies fell prey to cyber attacks last year.
Mr Victor Idonor, director-general, Cybersecurity Challenge Nigeria Initiative (CYSEC NG), urged Nigerians to be wary of cybersecurity, like every other security challenge and its impacts on the nation and citizenry.
National Information Technology Development Agency (NITDA) has also warned that there are possible spillover cyber-attacks against non-primary targets as a result of Russia’s invasion of Ukraine.
Mrs Hadiza Umar, head, Corporate Affairs and External Relations of NITDA, in a statement issued in Abuja, said the invasion had increased cyberattacks on businesses and government agencies.
“There is a greater danger for countries doing business in or with these countries’ governments, as well as businesses or countries that apply sanctions or are believed to intervene. In this regard, NITDA’s Computer Emergency Readiness and Response Team (CERRT) is urging all Ministries, Departments and Agencies (MDAs) to take extra security precautions.
“They should harden their cyber defences and perform due diligence in identifying indicators of malicious activities that could affect their networks, assets and critical national infrastructure. MDAs are advised to carry out checks for possible vulnerabilities on their systems and implement appropriate remediations,” Umar said.
She added that they should always ensure the software is updated and carry out regular patches on all systems. According to her, they should secure and monitor remote desktop protocol and other risky services and carry out awareness on cyber security best practices to sensitise employees and users of services.
NITDA called on organisations to sign up for NITDA’s free web protection service, which will provide MDAs’ administrators with detailed information about the vulnerability of their web services.
Some tips to detect and mitigate cyber risks:
- Beware of mysterious email activity
Email phishing is one of the primary ways attackers gain access to sensitive business information by pretending to be a trusted organisation or website. These attempts have been growing in number, making it essential for employees to practice safe email protocol and be careful not to click on online links, open emails, or attachments from unknown sources. It is also advisable to create a culture where all employees refrain from responding or engaging in emails with anonymous sources.
- Note unusual password reset request
This is another devious way cybercriminals deploy to gain access to the company’s secure portal. An employee who receives an email requesting a password change or update should immediately report the event to the IT unit. A good security best practice is to ensure that all employees create a strong password for their email.
- Report a slower-than-normal network
This kind of episode might seem normal in this part of our world, where strong connectivity is not the usual. However, this could also be a hacking attempt or malware attack. These attempts often result in spikes in network traffic that can reduce internet speed. To mitigate this, inform the IT security department to be on the watch during such situations. Also, inform the internet service provider to ensure the team is on the alert.
- Prepare for the worst-case scenario
Despite all these high-alert detection strategies and information to employees, the unplanned can still happen, making it more critical to have a cyber insurance policy that your organisation can fall back on should such an event occur. One of the deliberate actions is to prioritise cyber threat insurance on top of your risk mitigation plan against cyber attacks.
E-Business
What the Retail and E-commerce Sector Should Expect in 2026 in Era of AI-driven Shopping and Privacy

In 2025, the retail and e-commerce sector continued to face intense pressure from cybercriminals. According to Kaspersky data, 14,41%* of users in the global retail sector encountered web-based threats, while 22,20% were affected by on-device attacks.

Ransomware remains a serious concern for the industry. Last year, 8,25% of retail and e-commerce companies experienced ransomware incidents, and the number of unique B2B users in the sector affected by ransomware detections rose by 152% compared to 2023, signalling a sharp escalation in targeted attacks.
Phishing also continues to be a major threat vector. Kaspersky identified 6.7 million phishing attacks targeting users of online stores, delivery services, and payment systems in 2025. More than half of these attacks (50,58%) were aimed specifically at online stores, underscoring cybercriminals’ focus on e-commerce platforms as high-value targets for fraud and data theft.
A look at 2025 cybersecurity for retail & e-commerce: Trends and what happened
A stealer with a taste for pizza delivery. Shopping and food ordering via mobile apps are routine user behaviours. However, 2025 demonstrated that even downloading a seemingly legitimate app from an official app store does not guarantee safety, nor does it ensure that user data and financial credentials will not be compromised.
Ransomware detections in the B2B sector increased due to a single dominant actor. The number of unique users in the Retail & E-commerce sector who encountered ransomware detections increased by 152% in 2025 compared to 2023 (Nov 2024 – Oct 2025 vs. Nov 2022 – Oct 2023).
The most significant growth occurred during the 2024-2025 period and is largely attributable to the rapid spread of the Trojan-Ransom.Win32. Dcryptor family, which became highly prevalent across the retail and e-commerce sector in some of the analysed markets. This malware is a trojanised ransomware variant that leverages the legitimate DiskCryptor utility to encrypt disk partitions on victim systems.
Phishing activity in the online retail segment stood out. Despite being a long-established attack technique, phishing remains highly prevalent in the context of online purchasing.
From November 2024 through to October 2025, Kaspersky products blocked 6,651,955 attempts to access phishing links targeting users of online stores, payment systems, and delivery services. Of these attempts, 50.58% targeted online shoppers, 27.3% impersonated payment systems, and 22.12% targeted users of delivery companies.
Sales seasons continue to do the work for attackers. Seasonal peaks in online shopping consistently provide attackers with predictable opportunities to scale user-focused attacks.
Periods of heightened promotional activity lower user vigilance and allow familiar phishing and spam scenarios to blend into legitimate marketing traffic, increasing their overall effectiveness.
Predictions: What retail & e-commerce cybersecurity might face in 2026
Chatbots are likely to become a common product discovery tool across online marketplaces. Unlike traditional search, conversational interfaces encourage users to share more detailed, natural-language requests, revealing preferences, constraints, and contextual information.
This shift expands the privacy attack surface, as platforms accumulate richer user profiles through chat interactions. As a result, chatbot logs may become as sensitive as transactional data, increasing the risks of over-collection, misuse, or exposure of personal information.
“Search itself is changing, including how people look for products online. In 2025, there was a gradual shift from simple keyword queries to more conversational and visual ways of finding what to buy. As these models rely on broader user input, careful handling of the data involved will remain an important consideration for maintaining user trust,” comments Anna Larkina, Web data and privacy analysis expert at Kaspersky.
Changes in taxes and trade rules might be exploited in online fraud. Modifications in taxes, import duties, and cross-border trade rules are likely to be used as lures in phishing campaigns and fraudulent online stores, promoting unrealistically cheap offers or claims of avoided fees.
As pricing and fee rules continue to evolve across markets, it may lower vigilance, increasing the effectiveness of such schemes, particularly against small and mid-sized retailers.
AI-powered shopping assistants are expected to increasingly operate outside retail platforms, embedding themselves into browsers, mobile apps, and third-party services. While designed to simplify navigation and price discovery, these tools shift data collection beyond the retailer’s perimeter, creating new and less visible privacy risks.
To function effectively, external AI shopping agents require continuous access to user behaviour, including browsing activity, search intent, location context and product interactions across multiple sites.
This enables the aggregation of detailed behavioural profiles outside the direct control of both users and retail platforms, increasing the risks of over-collection, opaque data usage, and unintended exposure.
Image-based product search might become a new challenge in privacy risks. Previously, the main privacy concern around user images in e-commerce was limited to photos voluntarily shared in product reviews.
However, image-based product search is expected to make photo uploads a routine part of the shopping experience across major retail platforms. While this feature improves product discovery, it also increases the risk of unintended exposure of personal data.
User-submitted images may contain faces, home environments, or sensitive details, such as names, phone numbers, or addresses visible on shipping labels or packaging, making secure processing, data minimisation, and limited retention critical requirements for retailers.
E-Business
Elon Musk Seeks $134Bn from OpenAI, Microsoft for ‘Wrongful Gains’

Elon Musk, billionaire Tesla owner, has asked a United States (US) federal court to award him up to $134 billion in damages from OpenAI and Microsoft, stating that the companies earned “wrongful gains” from his early support of the artificial intelligence startup.

Elon Musk,
This is according to a court filing, reported by Reuters.
In filings ahead of a trial expected to start in April in Oakland, California, Musk stated that OpenAI benefited between $65.5 billion and $109.4 billion from his contributions when he helped co-found the organisation in 2015, and Microsoft gained between $13.3 billion and $25.1 billion through its involvement.
He has asked a United States (US) federal court to award him up to $134 billion in damages from OpenAI and Microsoft, stating that the companies earned “wrongful gains” from his early support of the artificial intelligence startup.
This is according to a court filing, reported by Reuters.
In filings ahead of a trial expected to start in April in Oakland, California, Musk stated that OpenAI benefited between $65.5 billion and $109.4 billion from his contributions when he helped co-found the organisation in 2015, and Microsoft gained between $13.3 billion and $25.1 billion through its involvement.
Musk’s legal team argues that his early financial and strategic contributions, including approximately $38 million in seed funding, the recruitment of key personnel, and assistance in connecting founders with contacts, laid the foundation for the later success of OpenAI and Microsoft’s commercial AI efforts.
“Without Elon Musk, there’d be no OpenAI. He provided the bulk of the seed funding, lent his reputation, and taught them all he knew about scaling a business. A pre-eminent expert quantified the value of that,” Musk’s lead trial lawyer Steven Molo told Reuters.
“Just as an early investor in a startup company may realise gains many orders of magnitude greater than the investor’s initial investment, the wrongful gains that OpenAI and Microsoft have earned—and which Mr Musk is now entitled to disgorge—are much larger than Mr Musk’s initial contributions,” the filing said.
Musk, who left OpenAI’s board in 2018 and now leads AI company xAI, alleges that OpenAI violated its founding non-profit mission when it restructured to include a for-profit arm tied to Microsoft’s investment and commercial strategy.
Meanwhile, OpenAI has labelled the lawsuit “baseless” and part of a “harassment campaign” by Musk, and Microsoft’s legal team has said there is no evidence the company “aided and abetted” OpenAI in any wrongdoing.
Both companies have asked the judge to limit what Musk’s expert witness may present at trial, arguing that the damages calculations are unreliable and could mislead a jury.
According to Reuters, Musk’s filing says he may pursue punitive damages and other penalties, including a possible injunction, if the jury finds the companies liable, though it did not specify what form any injunction would take.
E-Business
Nigeria Targeted with 4,622 Cyber-attacks Per Week in December 2025

In December 2025, organisations globally faced sustained cyber pressure, as the average number of cyber-attacks per organisation per week reached 2 027, a 1% increase from the previous month and a 9% increase from December 2024.

This is according to December 2025 Global Cyber Attack Statistics by Check Point Research, the threat intelligence arm of Check Point Software Technologies.
According to the statistics, Latin America was the hardest hit, with companies experiencing an average of 3 065 cyber-attacks per week, a 26% year-over-year increase.
In contrast, Africa saw a decline in attacks, with Nigeria (4 622 attacks per week) and Angola (4 002 attacks per week) being the most targeted countries on the continent.
The report’s findings highlight the evolving cyber threat landscape, with ransomware and GenAI-driven data risks posing significant challenges to companies worldwide.
Ransomware attacks jumped 60% year over year, with 945 publicly reported incidents in December. Qilin was the most active ransomware operator, responsible for 18% of publicly disclosed attacks.
“Ransomware continues to scale through industrialised operations, while unmanaged GenAI usage is creating widespread data exposure at enterprise level,” said Omer Dembinsky, data research manager at Check Point Research.
The report noted the education sector was the most targeted industry globally, with 4 349 cyber attacks per week; followed by government (2 666 attacks per week); and associations and non-profits (2 509 attacks per week).
The widespread adoption of GenAI tools has introduced new cyber security risks, with one in 27 GenAI prompts posing a high risk of sensitive data leakage.
Experts warn that companies must prioritise prevention-first security, real-time AI threat intelligence and strong governance over AI tools to mitigate these risks.
Hendrik de Bruin, head of security consulting at Check Point Software, added: “Strengthening ransomware resilience, deploying AI-powered prevention and enforcing clear GenAI governance will be critical to reducing cyber risk in the year ahead.”
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