E-Business
Biggest Fears of an Entrepreneur
Setting out as an entrepreneur and making a success out of it is not a task for the faint-hearted. This reality is more pronounced in a peculiar business terrain such as Nigeria.
Indeed, most entrepreneurs have the mind-set of an orphan as the pains of failure is borne all alone. This is why success is a driving force for all entrepreneurs.
This alone is what gets them widespread adulation and praise.
Yudala, the largest online and offline retail chain examines some of the biggest fears faced by entrepreneurs…
Fear of not being good enough: Many encounter this particular self-doubt at various stages of the entrepreneurial journey.
It is a fear that continually gnaws away at the confidence to take bold steps. During difficult times and especially when set-backs occur, the mind will often come up with various reasons why you don’t have what it takes to cut it at the top.
The key to overcoming this is to remember that this fear is not alien to other entrepreneurs. Competitors will always be out there with better connections or financial muscle than you. Remain consistent in chasing your passion and allow it work for you.
Fear of re-inventing: Success as an entrepreneur often involves the ability to innovate; to constantly re-invent and fine-tune your offerings, business processes and solutions to meet changing times and needs.
A lot of entrepreneurs, including the successful ones, face the fear of evolving at one time or another. This often happens when entrepreneurs grow their business to a certain point and feel comfortable with the position or status attained.
In such situations, it becomes difficult to face what needs to be done when faced with the idea of expansion or re-invention.
As an entrepreneur, the ability to constant re-invent or engage in positive disruption is a quality that sets you apart. Embrace it!
Fear of failure: This is perhaps the biggest fear faced by all aspiring and established entrepreneurs. The immense burden, shame and psychological effects of failure not only weighs down an entrepreneur; it also creates a huge mental block in the minds of many aspiring ones, preventing them from venturing into business or giving their passions a try.
Interestingly though, one of the secrets of most successful entrepreneurs, is their view of failure: it is not an end in itself. Although still prone to the fear of failure, they do not allow it shape their thinking and actions.
Fear of the unknown: Entrepreneurs function in a system that is heavily susceptible to market forces, currency fluctuations and government policies. These factors lend a measure of unpredictability to the business environment.
Investment decisions could go south as a result of an unfavourable or sharp shift in any of the afore-mentioned factors.
As a result, entrepreneurs live in constant dread of the unknown. This should not in any way reduce the entrepreneurial zeal or the drive to pursue your dreams. As the Holy Book says in Ecclesiastes 11: 4: “He who watches the wind will not sow and he who looks at the clouds will not reap.”
Fear of betrayal by trusted associates: Life as an entrepreneur often involves an element of partnership or entrusting certain core responsibilities to others.
However, the experience of most successful entrepreneurs usually takes in one or two incidences of betrayal or let-downs, often by trusted associates and/or business partners.
This fear is real and one that a lot of entrepreneurs have to deal with on the way to success. This should not, however, prevent you from reaching out or giving people a chance to prove themselves.
A healthy dose of optimism is one quality that has helped some of the best entrepreneurs cope with this fear. Caution and due diligence also come in handy here.
Fear of ideas drying up: This is a fear that confronts most entrepreneurs who rely heavily on making fortunes out of their ideas. A perfect way of overcoming this fear is to observe other successful entrepreneurs. One quality they all have in common is that scarcity of mind does not afflict them. These are the individuals who are constantly thinking up new ways to make money, more good people to hire and with whom to work, new ventures to invest in or investors to pitch ideas to…
The beauty of being an entrepreneur in a country such as Nigeria lies in the numerous opportunities that abound to create and sustain wealth.
Despite the peculiar challenges encountered by aspiring and established entrepreneurs, many agree that the Nigerian economy arguably remains one of the few around with the potential to transform a hopeless start-up into a multi-million-dollar business in a few years’ time. This should be the motivating factor for every struggling entrepreneur out there.
The University of Nigeria (UNN) is set to partner with The Roxettes Group to establish a research and innovation centre focused on artificial intelligence (AI), smart and green mobility, and digital technologies, in a move aimed at strengthening research, entrepreneurship and technology-driven industrial development.
Chairman of The Roxettes Group, Arc. Dr. Kaycee Orji-Kelechi, announced the proposed partnership while delivering his acceptance speech after receiving an Honorary Doctor of Business Administration (Honoris Causa) during the university’s convocation ceremony.
The proposed facility, to be known as the Dr. Kaycee Orji Centre for Artificial Intelligence, Smart/Green Mobility and Digital Innovation, is expected to provide a platform for research, innovation and collaboration between academia and industry, with a focus on developing commercially viable solutions to local and continental challenges.
Orji-Kelechi said the initiative was conceived as a long-term investment in human capital and technological advancement rather than simply another physical infrastructure project.
He said the vision was to position the University of Nigeria among Africa’s leading institutions in artificial intelligence, smart mobility and digital innovation through research, entrepreneurship and technology development.
According to him, the centre will house five specialised laboratories covering artificial intelligence and machine learning, smart and green mobility, robotics and the Internet of Things (IoT), digital finance and financial technology, as well as cloud computing and advanced data centre technologies.
He also announced plans for the proposed Kaycee Orji Founders Innovation Challenge, an annual programme intended to identify, mentor and support innovative ideas from students, researchers and academic staff with the potential to become scalable businesses.
“Every student of this University should know that a great idea conceived in a classroom should have a pathway to becoming a patent, a startup, a global enterprise, and a solution that transforms society,” he said.
Orji-Kelechi disclosed that preliminary conceptual work on the project had commenced, with architectural and engineering designs being prepared by K.KH Contractors Ltd., a subsidiary of The Roxettes Group.
He added that discussions with the university would begin on identifying a suitable site for the project, while a comprehensive proposal containing architectural drawings, engineering designs and an implementation framework would be submitted after completion of the design phase.
Reflecting on his career, Orji-Kelechi said Africa must move beyond consuming innovation to creating it through investment in manufacturing, technology and entrepreneurship.
“We have pursued one simple vision: that Nigeria and Africa must move from consumption to production; from importing innovation to creating it; and from waiting for opportunities to building them,” he said.
He urged graduating students to see their education as a foundation for solving societal challenges through innovation, leadership and enterprise, adding that he remained committed to promoting industrial development, youth empowerment and sustainable economic growth.
The proposed collaboration forms part of broader efforts to strengthen university-industry partnerships, which are increasingly seen as critical to improving research commercialisation, innovation capacity and technology-led economic development in Nigeria.
National Population Commission (NPC) has announced commencement of full digital registration of births and deaths through the VitalReg platform, which became operational nationwide on July 1, 2026.
Chidi Ezeoke, federal commissioner representing Anambra, disclosed this in Awka during a press conference to announce commencement of full digital birth and death registration under the Electronic Civil Registration and Vital Statistics (E-CRVS) system and the marking of World Population Day commemorated every July 11.
He revealed that a total of 131 registration centres had been opened in the 21 local government headquarters and several communities in the state, adding that more centres would be opened later.
Ezeoke described the initiative as a major milestone in Nigeria’s Civil Registration and Vital Statistics (CRVS) system, to ensure every birth and death in the country was captured through a digitally enabled registration platform.
“It builds on the launch of the E-CRVS system and the inauguration of the National Coordination Committee on Civil Registration and Vital Statistics by President Bola Tinubu on Nov. 8, 2023.
“A total of 4,011 functional registration centres has been established across the 774 LGAs of the federation and the commission iswas working to expand the number to about 8,000.
“In Anambra, 131 registration centres have been opened in the 21 local government headquarters and several communities. More centres had been proposed for the state,” he said.
According to the Commissioner, the VitalReg platform would provide faster registration services, 24-hour online access, digital certificate issuance where applicable, reduced paperwork and waiting time, improved data validation and a more secure national CRVS database.
While noting that the platform would serve as a foundational database to support other national data systems and strengthen interoperability across Nigeria’s digital identity ecosystem, Ezeoke urged Nigerians and other stakeholders to support the initiative by ensuring prompt registration of all births and deaths.
Speaking on the 2026 World Population Day themed, “Realising the Hopes and Aspirations of Young People – Today and for the Future”, the Commissioner called for greater investment in education, healthcare, skills development, decent employment opportunities and youth participation in governance for sustainable national development.
Earlier, Mr Obiakonwa Okagwu, state director, NPC, said the occasion served as a reminder of great opportunities provided to harness young people’s capabilities, which he said would shape the future of the country when adequately harnessed.
He called on residents to take registration of births and deaths as national responsibility, just as he urged the media to take the message on civil registration to all parts of the State.
E-Business
Report Says Cybercriminals Deploy Malware to Hijack Crypto Wallets, Monitor Browsers Telegram
Cybersecurity researchers at Kaspersky have uncovered a sophisticated malware framework, dubbed OkoBot, that is targeting cryptocurrency users by stealing wallet recovery phrases, browser credentials and other sensitive information through a multi-stage attack campaign spanning more than 25 countries.
The researchers said the malware, active since April 2025, employs more than 20 malicious payloads and has evolved into an advanced cybercrime platform focused on compromising digital asset holders. According to Kaspersky’s Global Research and Analysis Team (GReAT), the campaign remains active and has already affected hundreds of users worldwide.
Kaspersky disclosed that one of the framework’s most dangerous components, known as SeedHunter, injects malicious code into legitimate cryptocurrency wallet applications, including Ledger Wallet, Ledger Live and Trezor Suite, before displaying fake recovery phrase prompts designed to trick victims into surrendering their seed phrases.
The security firm explained that once attackers obtain a victim’s recovery phrase, they gain complete control over the cryptocurrency wallet, enabling them to transfer digital assets with virtually no chance of recovery.
Commenting on the discovery, Dmitry Galov, security researcher at Kaspersky’s GReAT, said.
“This campaign has been running for more than a year and remains active. OkoBot is not just a single piece of malware but an extensible framework built primarily to compromise cryptocurrency users.”
Galov added that the malware is continuously maintained and enhanced, underscoring the attackers’ long-term focus on financial theft.
According to Kaspersky, victims are typically infected through ClickFix phishing attacks or malicious GitHub repositories masquerading as legitimate software downloads. In one instance, a fake Microsoft SQL Server Management Studio repository secretly installed a trojanized version of the Audacity audio editor embedded with malicious code.
Following the initial compromise, the attackers deploy a PowerShell downloader called TookPS,which establishes an encrypted SSH connection to attacker-controlled infrastructure.
The malware then harvests browser cookies, wallet files, stored credentials and system information before downloading additional malicious modules.
Among the additional payloads is OkoSpyware which monitors more than 100 applications, which includes cryptocurrency wallets and password managers—records user activity and captures keystrokes and video of application windows. Another module silently installs malicious browser extensions capable of stealing financial information and authentication tokens.
However, Kaspersky’s telemetry indicates that the largest concentrations of victims have been recorded in Brazil, Vietnam, Canada, Mexico and Türkiye, although the malware campaign has spread to users across more than 25 countries.
The cybersecurity firm advised cryptocurrency users never to enter wallet recovery phrases into prompts displayed by desktop applications or websites unless they have independently verified their authenticity.
Furthermore,It also urged users to download wallet software exclusively from official sources, enable multi-layered endpoint protection, and remain cautious of software offered through unofficial repositories or phishing websites.
Kaspersky noted that while hardware wallets themselves remain secure, attackers are increasingly exploiting the software that accompanies them, making user awareness a critical line of defence against evolving cryptocurrency-focused cyber threats.
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