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Towards a Cybercrime Free Society

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Nigerians world over are perceived by the international community as criminals, no thanks to the activities of cyber criminals in the country.
The nefarious acts of these scammers in no little way has dented the image of  the country and is a smear on the integrity of honest and hard working citizens.
In this wise, credit cards of Nigeria descent are rejected in online transactions with foreign countries and this, Sean O’ Hara, director British broadcasting Corporation (BBC) World News, said is as a result of country of origin effect.
“Country of origin effect tells you that the country where a person or product comes from affects the perception of the person or brand,” he said.
He said a positive nation’s brand can affect the country positively, noting that the things which lead a country into good international identity are “actually the brands and products produced by companies led by the people.”
The menace of “Yahoo Yahoo,” as it is popularly called is also in anyway not helping matters as the crime is being termed a “profession” among perpetrators of this illegal act.
“Walking into most cybercafés in Nigeria today, one can see clusters of young people gathered around public computers for the purpose of manipulating the powers of technology to defraud others and disturb the desired safety of the internet,’ said Gbenga Sesan, executive director, Paradigm Initiative Nigeria.
Apart from the availability and usage of Internet facilities in cyber cafes for scam mails and other cybercrimes, the evolution of fixed wireless facilities in the Nigerian network landscape has added another dimension to the cybercrime problem. Fraudsters who can afford to pay for internet connection via fixed wireless lines can now perpetrate their evil acts within the comfort of their homes.
These among others gave rise to the clamour for a cybercrime free society.
Bashir Gwandu, acting executive vice chairman, Nigeria Communications Commission (NCC) has pledged to fight cybercrime to a stand still as this has significantly damaged the country’s image abroad and cannot be allowed to continue.
He expressed concern that the issue of cybercrime and scam mails which emanated from unknown persons and disguised sources claiming to be from top Nigerian institutions have done untold damage to the image of the country.
The acting EVC said the Commission will work on improving Nigeria’s monitoring and investigation skills in a bid to ameliorate its negative impact on the country.
In the same vein, the Microsoft Internet Safety, Security and Privacy Initiative for Nigeria (MISSPIN), a joint effort between Microsoft and Paradigm Initiative Nigeria (PIN) is one such initiatives aimed at addressing the issue of cybercrime in Nigeria.
The partnership gave birth to a campaign targeted at redirecting the energies of Nigerian youth from cybercrime to more positive online involvement.
“Maga No Need Pay,” is an album put together by nine top Nigerian artistes who dedicated their time and talents to fight the scourge, countering an earlier released album of the glorified crime album- “Maga Don Pay, Shout Halleluyah!,” is part of the MISSPIN initiative targeting the youths to change their perspective on cybercrime.

In providing alternatives to cybercrime, Adeolu Akinyemi, an online internet marketer, said it takes the same skill set as a “Yahoo Yahoo” guy to make it legitimately.
He said this is because the yahoo guys spend more time on the system, follow instructions and persevere for months to get control numbers and wait patiently for the deal to come through.
Akinyemi added that internet marketing and network marketing are ways to make legitimate money on the internet.
But Dr. Jummai Umar- Ajijola, Citizenship Lead, Microsoft Anglophone West Africa said the absence of a legislation to address the crime is a challenge and as a result of this, “the international community view Nigeria as not being serious in wanting to tackle the menace.”

 


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Access Holdings, Coronation Partner Tate Modern to Spotlight Nigerian Modernism

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Access Holdings Plc and Coronation Group have partnered with Tate Modern to commemorate World Art Day with a virtual session highlighting the global significance of Nigerian modernism.

Access Holdings, Coronation Partner Tate Modern to Spotlight Nigerian Modernism

Access Holdings

The event, titled “In Conversation with Osei Bonsu: Inside Nigerian Modernism,” featured a virtual tour of the Nigerian Modernism exhibition and discussions on the evolution of modern art in Nigeria.

The session brought together staff members across both organisations, reflecting growing institutional engagement with arts and culture as a driver of societal development.

Speaking at the event, Chief Communications and Marketing Officer of Coronation Group, Ngozi Akinyele, emphasised the role of art in shaping identity and national development.

She said that beyond financial capital, cultural and intellectual capital are essential in defining a nation’s prosperity and inspiring dialogue.

Akinyele noted that both organisations were committed to democratising access to art, ensuring it is accessible to a wider audience rather than a select few.

The discussion also featured insights from Tate Modern Curator, Osei Bonsu, and art expert Daniel Wallis, who examined the development of Nigerian modernism and its global relevance.

Bonsu said Nigerian modernism represents an independent reimagining of global art, rooted in the country’s diverse cultural heritage and expressed through unique visual languages.

According to him, the movement challenges narrow, Eurocentric definitions of modernism and highlights the richness of African artistic expression.

The session further underscored the growing international recognition of Nigerian art, particularly through exhibitions at Tate Modern.

Participants also reflected on the visit of Bola Ahmed Tinubu to the exhibition, described as a milestone in promoting Nigeria’s cultural heritage globally.

In his closing remarks, Chief Communications Officer of Access Holdings, Amaechi Okobi, reaffirmed the organisation’s commitment to advancing African narratives on the global stage.

He said the collaboration with Tate Modern aligns with broader efforts to promote dialogue, preserve cultural identity and support the creative sector.

The event reinforced a shared commitment by Access Holdings, Coronation Group and Tate Modern to elevate African art globally and ensure Nigerian cultural narratives continue to shape international conversations.


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NDPC Issues Critical Advisory as Hackers Target Nigeria’s Key Digital Systems

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Nigeria Data Protection Commission (NDPC) has issued a regulatory advisory to data controllers and processors across the country following what it described as escalating threats to Nigeria’s data security architecture.

NDPC Issues Critical Advisory as Hackers Target Nigeria’s Key Digital Systems

NDPC

In a statement signed by Babatunde Bamigboye, lead of Legal, Enforcement and Regulations, the commission said its technical assessment revealed that some shadowy threat actors were engaged in coordinated operations targeting financial systems and critical digital infrastructure in Nigeria.

The commission urged public institutions to comply with the presidential directive of Bola Ahmed Tinubu, which emphasises the strategic importance of data in national development.

According to the NDPC, the President had declared that “data is the new oil,” stressing the need for Ministries, Departments and Agencies (MDAs) to rigorously capture and safeguard information in line with the Nigeria Data Protection Act, 2023.

The commission therefore advised all data controllers and processors to urgently strengthen their technical and organisational measures to protect personal data and ensure compliance with the law.

It listed key measures to include the appointment of trained and certified Data Protection Officers, implementation of comprehensive privacy policies and information security standards, as well as conducting Data Privacy Impact Assessments.

Other measures recommended by the NDPC include deployment of robust identity and access controls such as Multi-Factor Authentication, adoption of zero-trust security architecture, prompt remediation of system vulnerabilities, and continuous patch management.

The commission also emphasised the need to secure cloud infrastructure, application programming interfaces (APIs), databases and access credentials, alongside real-time monitoring, logging and threat detection systems.

Further recommendations include encryption and secure credential handling, regular vulnerability assessment and penetration testing of critical systems, as well as routine backup and resilience testing.

The NDPC warned that organisations that fail to implement appropriate data protection measures in accordance with the Nigeria Data Protection Act, 2023 risk legal liabilities.

It reiterated its commitment to providing regulatory support to organisations while ensuring the protection of personal data and strengthening institutional resilience across all sectors.


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Africa’s Forex Market in 2026: Key Trends Every Trader Should Watch

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The forex market across Africa is witnessing more participants and more regulatory attention than it did just a few years ago. This growth is part of a bigger picture: Sub-Saharan Africa is expected to expand by 4.3% in 2026, while global forex turnover already hit an estimated $9.6 trillion daily in April 2025. However, there’s more to it than macroeconomic figures.

Africa's Forex Market in 2026: Key Trends Every Trader Should Watch

The trends reshaping the market are happening from within. Here are six worth paying close attention to.

1. Trading Has Moved to the Phone

The number of people accessing the market via mobile phones exceeds those accessing it via traditional bank systems. GSMA states that in Sub-Saharan Africa alone, there are more than 1.1 billion registered mobile money accounts.

The International Monetary Fund states that digitalisation and increased usage of the internet are changing payment systems in the Sub-Saharan Africa region.

Mobile access changes traders’ behavior. It lowers the barrier to entry and speeds up deposits and withdrawals. Therefore, brokers who can provide a quality mobile trading experience will have a huge advantage.

2. Regulators Are Watching

The market is becoming more structured and more transparent. In South Africa, the FSCA regulates market conduct for financial institutions. In Kenya, the Capital Markets Authority regulates capital markets and maintains a licensing system that includes online forex brokers.

Nigeria’s SEC has publicly warned that online retail forex trading can be subject to abuse when unregulated. It also provides tools for investors to check operators’ registrations.

As a result, in 2026, more traders are likely to favour brokers that can show clear licensing, transparent operations, and stronger investor safeguards.

3. Volatility Varies by Country

A common mistake is perceiving the African market as one entity. In reality, according to RegTech Afrika, there are 21 countries out of a total of 54 that have a chance of seeing their currencies depreciate in 2025, with some of them losing value by as much as 6% or more.

A trader watching the rand, naira, shilling, or cedi, regional headlines needs more than regional headlines. Country-level macro data, central bank moves, and the US dollar will still play a major role.

4. Cross-Border Payment Infrastructure Is Quietly Improving

Platforms like PAPSS are helping make payments across African countries faster and easier to complete in local currencies. According to official announcements of PAPSS, it has become operational in 18 countries across Africa, with its latest launch in Algeria in 2025. It has also become operational in Kenya through a partnership with KCB Group, as well as in Rwanda through a partnership with Bank of Kigali.

Step by step, Africa is becoming a more financially connected continent.

5. Execution Quality Is the New Standard

Data from the BIS shows that in April 2025, three-quarters of FX trades were intermediated by the global centers of the United Kingdom, the United States, Singapore, and Hong Kong. Therefore, the best liquidity and best prices are still linked to global conditions.

For local markets, this raises the bar. Forex traders are becoming increasingly aware that tight spreads, while important, mean little without reliable prices and execution. Brokers like JustMarkets that can bring all of these elements together are in a much stronger position than competitors.

6. Education as a Necessity

Regulatory disclosures from major global brokers illustrate how tough it is to trade without proper knowledge. According to publicly available disclosures, between 70% and 80% of retail investor accounts lose money when trading CFDs.

Forex traders who understand risk management and which financial news to follow have a better chance of surviving the market. Brokers who invest in education are more likely to be seen by traders as valuable partners rather than mere facilitators.
The Market Rewards the Prepared

Africa’s forex market in 2026 is shaped by volatility, stricter rules, and mobile-first trading. The traders who combine market knowledge with the right tools and the right broker will find real opportunity here, while those who don’t adapt will find the market increasingly unforgiving.


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