E-Business
Gartner Predicts 60% of Digital Businesses Failures Due to Digital Risk

As organizations transition to digital business, a lack of directly owned infrastructure and services outside of IT’s control will need to be addressed by cybersecurity, according to Gartner, Inc.
Gartner predicts that by 2020, 60 percent of digital businesses will suffer major service failures due to the inability of IT security teams to manage digital risk.
“Cybersecurity is a critical part of digital business with its broader external ecosystem and new challenges in an open digital world,” said Paul Proctor, vice president and distinguished analyst at Gartner. “Organizations will learn to live with acceptable levels of digital risk as business units innovate to discover what security they need and what they can afford. Digital ethics, analytics and a people-centric focus will be as important as technical controls.”
Gartner has identified five key areas of focus for successfully addressing cybersecurity in digital business:
Leadership and Governance — Improving leadership and governance is arguably more important than developing technology tools and skills when addressing cybersecurity and technology risk in digital business. Decision making, prioritization, budget allocation, measurement, reporting, transparency and accountability are key attributes of a successful program that balances the need to protect with the need to run the business.
The Evolving Threat Environment — IT risk and security leaders must move from trying to prevent every threat and acknowledge that perfect protection is not achievable. Gartner predicts that by 2020, 60 percent of enterprise information security budgets will be allocated for rapid detection and response approaches, up from less than 30 percent in 2016. Organizations need to detect and respond to malicious behaviors and incidents, because even the best preventative controls will not prevent all incidents.
Cybersecurity at the Speed of Digital Business — Digital business moves at a faster pace than traditional business, and traditional security approaches designed for maximum control will no longer work in the new era of digital innovation. IT risk and information security leaders must assess and transform their programs to become digital business enablers rather than obstacles to innovation. Organizations that are able to successfully establish an ecosystem that balances protecting and growing the business will remain competitive and in a position to address cybersecurity threats.
Cybersecurity at the New Edge — It used to be easy to protect data because it resided in the data center. The new edge has pushed far beyond the data center into operational technology, cloud, mobile, SaaS and things. For example, by 2018, 25 percent of corporate data traffic will flow directly from mobile devices to the cloud, bypassing enterprise security controls. Organizations need to address cybersecurity and risks in technologies and assets they no longer own or control. Business unit IT is a fact in most modern enterprises, and it will not be shut down by cybersecurity and risk concerns. It must be embraced and managed to deliver appropriate levels of protection.
People and Process: Cultural Change — With the acceleration of digital business and the power technology gives individuals, it is now critical to address behavior change and engagement — from your employees to your customers. Cybersecurity must accommodate and address the needs of people through process and cultural change. People-centric security gives each person in an organization increasing autonomy in how he or she uses information and devices — and what level of security adopted when he or she uses it. The individual then has a certain set of rights in using technology and is linked to the group in the entire enterprise. The individual must also recognize that if things go wrong, it will have an impact on the team, group and business.
E-Business
NITDA Warns Nigerians of Actively Exploited Microsoft Office Vulnerability

National Information Technology Development Agency (NITDA) has issued an urgent cybersecurity warning about a serious Microsoft Office vulnerability (CVE-2026-21509) that attackers are actively exploiting.

This advisory, shared through Nigeria’s Computer Emergency Response Team (CERRT.NG), highlights the risks of this flaw and recommends immediate action to protect systems.
Microsoft has released quick security updates to fix this vulnerability, which has a severity score of 7.8, showing it is a serious risk. Attackers have already used it in targeted attacks.
CVE-2026-21509 affects multiple versions of Microsoft Office, including Office 2016, Office 2019, Microsoft 365 Apps, Office 2021, and later versions.
This flaw allows attackers to bypass security features meant to stop harmful Object Linking and Embedding (OLE) controls. OLE is an older Microsoft technology that can be used to embed links or content, but it has often been exploited by malware.
By exploiting this flaw, attackers can create specially designed Office documents.
When a user opens these documents, they can run malicious code or gain further access to the system.
Exploitation requires user interaction, meaning attackers often trick people into opening harmful Word, Excel, or other Office documents. Common methods include using email attachments or files from untrusted sources.
Because Microsoft confirmed that the vulnerability is being actively exploited, they have made emergency security updates available outside their usual schedule. Users and organisations should:
- Install the latest Microsoft Office security updates for all affected versions.
- Restart Office applications for Office 2021 and later to ensure that the updates take effect.
- Use registry-based settings for protection if updates can’t be applied right away.
- Follow good cybersecurity practices, like using endpoint protection and filtering emails.
Microsoft’s updates for Office 2021 and newer versions are automatically applied, but need a restart of the applications to be active.
E-Business
NDPC Investigates over 1,000 Schools over Data Privacy Compliance

Nigeria Data Protection Commission (NDPC) has commenced an investigation into over 1,000 education institutions across the country over compliance with the Nigeria Data Protection Act (NDP Act), 2023.

The move affects federal, state and private universities, polytechnics, colleges of education and technical colleges, marking one of the largest sector-wide compliance checks since the enactment of the law.
In a public notice issued on Thursday by Babatunde Bamigboye, head, Legal, Enforcement and Regulation, the Commission said the probe forms part of its ongoing sector-by-sector enforcement drive aimed at safeguarding the fundamental rights and freedoms of data subjects, as well as strengthening the legal foundation of Nigeria’s digital economy through the trusted use of personal data.
The NDPC directed the affected institutions to submit, within 21 days, evidence of filing their 2024 Data Protection Compliance Audit Returns, proof of designation or appointment of a Data Protection Officer including relevant contact details and a summary of technical and organisational measures adopted to protect personal data within their establishments.
It also requested evidence of registration as a Data Controller or Processor of Major Importance as required by law.
The Commission warned that failure to comply with the notice may result in the issuance of enforcement orders, imposition of administrative fines and possible criminal prosecution in accordance with the provisions of the NDP Act, 2023.
It stressed that compliance is mandatory and not optional for institutions that process large volumes of personal data
The education sector remains one of the biggest handlers of sensitive personal information in the country, including students’ academic records, admission details, biometric data, financial information and staff records.
With increasing digitalisation of admissions, online learning platforms and electronic documentation systems, concerns over data breaches and weak privacy safeguards have grown in recent years.
The Commission maintained that the investigation is in line with its statutory mandate under relevant sections of the Act empowering it to monitor, investigate and enforce compliance across sectors.
E-Business
Chams Carves Out Subsidiary to Support Africa’s Digital Transformation

Chams Holding Company Plc, (Chams Holdco), digital payments and verification firm, has created a new subsidiary which is expected to strengthen the push for Africa’s digital transformation.

The creation of the new subsidiary, ChamsCorp Plc, which took effect from February 1, was made known in a filing to the Nigerian Exchange Limited , according to an announcement.
Chams said that the new subsidiary, which is its 5th, will give a new dimension to its more than 40 years of work in building the digital ecosystem not only in Nigeria, but across the continent and the rest of the world.
The newly created company will focus on three major aspects, namely the manufacturing of digital devices and development of digital infrastructure and services; data center design, construction and operations, and the development and implementation of AI infrastructure and intelligent systems.
It will also contribute to its parent company’s digital ID, digital verification, and trust services offering.
“For nearly four decades, we’ve enabled trust in transactions and identity. Now, we go furthe”
Chams is expanding into AI, data centre infrastructure, and intelligent systems, building the backbone for Africa’s digital transformation,” the company wrote in a LinkedIn post.
“We are not just participating in the future. We are engineering it,” the message added.
According to the Chams announcement, a decision of its Board of Directors appointed members of the pioneer board of ChamsCorp Plc, with renowned banker Mohammed Bashir Yunusa designated as Chairman.
He is described as a well-known finance expert who specializes in deal structuring, corporate and retail finance, business strategy, digital transformation, and Islamic Finance and Banking.
With more than 10 years of experience in the financial services industry, Yunusa currently serves as head of Consumer and Digital Banking for Non-Interest Banking Retail at Sterling Bank Nigeria, and will also serve as a non-executive director on the board.
“Chamscorp is designed to take our most ambitious ideas to market at speed and scale. As Africa’s digital economy evolves, we are focused on delivering transformative solutions that empower governments, businesses, and citizens alike,” Femi Oyenuga, CEO, Chams, commented on the development.
Chams has over the years played a major role in contributing to Nigeria’s digital ID ecosystem development to facilitate access to financial services.
In 2023, the company Group Chairman publicly stated that in providing such digital services to the Nigerian government, it had incurred debts estimated at $100 million and were planning to change their business model as a result.
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