E-Business
Technology in Africa: Why Nigeria Should Lead the Way

There is no doubt that Nigeria is one of the most developed countries on the continent of Africa. In spite of its current economic recession, it still leads the continent in various social and economic sectors. There is, however, serious doubts as to whether or not it is capable if leading the continent in the field of technology. In my view, I think that Nigeria is capable of leading Africa in the field of technology for the following reasons.
Availability of numerous youths with interest in technological
One of the things that stand Nigeria in good stead to lead the African continent in technology is the availability of numerous youths in Nigeria, who are interested in technology. There are many young Nigerians that are exposed to tech gadgets at an early age these days and this spurs innovative tendencies in these young ones. If these set of innovative young Nigerians are well coordinated and well directed, they will form the launching pad of a tech revolution that is capable of engulfing the country as well as take the whole of Africa by storm. It will interest you to note that some Nigerian youths have succeeded in developing some tech devices and are also providing some online services that have gone international in patronage.
Availability of Venture Capitalists to provide funding
It is one thing to innovate and yet another to actually get the products and services that are developed through these innovations to be produced and marketed to the final consumers. There is no gainsaying the fact that many innovators are not financially buoyant to produce and market these because the processes are not cheap to cone by. This is where Venture Capitalists come in and Nigeria has abundance of these. They are ready to invest in the ideas and innovations after proper assessment of the business plan and other prospects.
A ready market to dispose products and services
The fact that the Nigerian population, which now stands at about 200 million and one sixth of the entire population of the African continent, is a huge plus for the country in the development of innovative products and services because these innovators are assured of disposing them off to the large population in Nigeria after going into production. The large population in Nigeria encourages the consumption of technological products and services supplied and this gives impetus for many tech enthusiasts to venture into innovating. Other African countries andthe rest of the world will also benefit from these products. It is no wonder, then, that Nigeria is considered as a huge market for the products and seevices of different world renowned manufacturers of various gadgets such as smartphones, computers and cameras.
Establishing of ICT Hubs
Nigeria presently has a number of ICT Hubs spread across the country. These ICT Hubs provide a co-creation environment that is conducive for the generation of ideas that can be moulded into useful innovations. The Nigerian government is also planning on establishing ICT Hubs in all States in the country. Some State governments, such as Delta State for instance, have already set up ICT Hubs in their respective States. These are, no doubt, laudable moves by the governments at those levels. Many tech industry operators are, however, of the opinion that instead of the government venturing into setting up ICT Hubs itself, it should rather encourage the private sector to set these up and run them effectively with the government merely creating the enabling environment to make it easy for these Hubs to be set up. Other players in the industry also think that the government should carry this out through a Public Private Partnership arrangement, with the management of these Hubs left in the hands of tech experts. Either way, the establishment of ICT Hubs is a sure way to fast-tracking ideas and innovations to becoming realities in Nigeria, thus, positioning the country to be in the lead of technological breakthroughs in Africa.
This can be achieved through the setting up of mechanisms that are capable of recognising talents early and nurturing them, mentoring them and giving them the opportunity to express themselves and innovate. This will definitely give Nigeria the edge in leading the African continent in technology.
Like I always say, however, everything must be put in place to create the enabling environment for Nigeria to lead in tech in Africa. Start-ups, for instance, must be encouraged to survive and operate, with the government providing them with incentives such as access to start-up loans which are either interest-free or with very convenient interest rate charges, tax concessions, etc. Utilities, such as the provision of constant electricity supply and cheap internet data provision, must also be made available to minimize the running costs of these start-ups and other tech entrepreneurs. With all these in place, the sky is really the limit for Nigeria to be the leader in technology on the African continent.
CFA is the founder of cfatech.ng; presenter TechTrends on ChannelsTV, and host of other radio programmes.
E-Business
Firm Spots Rising Scam Activity Around the 2026 World Cup, from Bogus Tickets to $500,000 “grant” Emails

Millions of football fans around the world are gearing up for the World Cup, and cybercriminals are seizing the moment to exploit the heightened interest.

Experts at Kaspersky have uncovered various types of scams that mimic official tournament resources or leverage the event for unsafe purposes, putting users’ data and finances at significant risk.
On one of the fraudulent websites discovered, users are offered the option to buy tickets for FIFA World Cup matches, with payments accepted in almost any currency.
However, after completing the fake registration and payment steps, users risk not only losing money from their bank cards but also exposing sensitive personal data to attackers.
The site uses the official colour scheme of the 2026 tournament to mislead users. In addition, the scammers offer ways to contact them, either directly on the site or via messaging apps.
Another website offers users the chance to purchase “official merchandise” for the 2026 tournament, featuring images of mascot plush toys and T-shirts, with a wide selection available for “purchase.” To make the offer more enticing, the site highlights steep discounts. Additionally, to appear more credible, the scammers have added a “Trusted store” badge at the bottom of the page, along with a registration form that requests personal and banking details.
Another attack scenario involves fraudulent email campaigns, in which attackers attempt to trick users into sending money or click a phishing link. To increase the chances of engagement, the emails feature compelling subject lines and persuasive messaging.
In one of the examples identified, fans received emails allegedly sent by official representatives of the event regarding a fake decision from a dispute resolution chamber. The link provided in the email leads to a phishing page.
In some cases, users are targeted with scam emails claiming they have “won” a $500,000 grant to cover tickets, flights, and accommodation, followed by instructions to contact the sender to claim the “prize” funds. Kaspersky also reports email spam and unsolicited ads related to the sale of competition-themed merchandise and souvenirs, some of them might turn out to be a scam.
“Unfortunately, major sporting events that attract large audiences are never overlooked by scammers. Seemingly harmless or even appealing emails can often conceal not only dangerous links and malicious attachments.
In some cases, careless interaction with such messages can lead to serious device infections. We recommend that users ignore any suspicious emails and websites to protect their financial assets and keep their devices and personal data secure,” says Anna Lazaricheva, senior spam analyst at Kaspersky.
E-Business
NDPC Warns of Offshore Data Risks as 90 Percent of Country’s Data is Hosted Abroad

Nigeria Data Protection Commission (NDPC) has raised concerns over data sovereignty, national security as well as loss of economic value, as over 90 per cent of Nigeria’s data is hosted abroad.

Pic credit…247digitize.com
Vincent Olatunji, national commissioner/CEO, NDPC, stressed the importance of safeguarding Nigeria’s digital economy through strong data protection and privacy frameworks.
He spoke while while delivering a keynote address at the IoT West Africa Conference, where he stated that the trend poses significant risks to Nigeria’s control over its digital assets.
He further described the situation as precarious for the nation’s sovereignty, and called for urgent investment in local data infrastructure.
Olatunji, highlighted data sovereignty, the growing role of data centres, and regulatory expectations under the Nigeria Data Protection Act, 2023, noting both the benefits of compliance and the risks of non-compliance. Olatunji underscored that data centres are now critical infrastructure for Nigeria’s digital transformation.
While decrying that over 90 percent of the Nigeria’s data is hosted abroad which is precarious for the nation’s sovereignty he encouraged for more investment in the sector as it is projected to reach $1.9 billion by 2031.
Also speaking, Kashifu Inuwa, the director-general of the National Information Technology Development Agency (NITDA), said policy is emerging as the key driver of Nigeria’s digital transformation, particularly in shaping the development of the Lagos-Abuja digital corridor.
“While infrastructure responds to demand, policy creates the enabling environment for sustainable growth,”
Inuwa who was represented by Aristotle Onumo, director, stakeholders management and partnership at the IoT West Africa Conference in Lagos, on the theme “The Lagos-Abuja Digital Corridor: Building Africa’s Next Data Centre and Cloud Hub.”
Inuwa emphasised that while infrastructure responds to demand, policy remains the critical driver that creates an enabling environment for sustainable digital growth.
He explained that Nigeria’s broadband policy, which stipulates minimum speeds of 10 Mbps for rural areas and 25 Mbps for urban centres, provides a strategic framework for prioritising infrastructure deployment along the Lagos-Abuja digital corridor.
He cautioned, however, that without deliberate collaboration and partnership between government, the private sector, and civil society, widespread infrastructure rollout would remain challenging. “Collaboration is the pathway that massifies impact, while partnership harnesses collective intelligence. No one can achieve this in isolation,” he said.
Inuwa also spoke on the Nigerian Sovereign Cloud Project; a flagship initiative aimed at strengthening indigenous cloud service providers and preventing the dominance of Nigeria’s digital infrastructure by foreign hyperscale operators.
By scaling local infrastructure to meet global standards, the project seeks to domesticate data hosting, reduce operational costs, and improve access to cloud services across the country.
E-Business
Opay Plans IPO in US, Targets $4Bn in Valuation

Opay, a financial technology (fintech) firm, is working with Citigroup Inc., Deutsche Bank AG, and JPMorgan Chase & Co. for an initial public offering (IPO).

According to a report by Bloomberg on Friday, sources said the platform, backed by SoftBank Group Corp., is considering a listing in the United States and is targeting a valuation of about $4 billion.
They added that the company could proceed with the share sale later this year, although the timing and size of the offering are yet to be finalised.
Opay is one of Africa’s fastest-growing fintech firms, offering mobile payments, transfers, and other financial services across Nigeria.
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The fintech company, Citi, Deutsche Bank, and JPMorgan have not publicly commented on the IPO plans.
Like Opay, Flutterwave, a major fintech company in Africa is planning an IPO.
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