E-Business
BBBS, Barac Partner on Enterprise Fraud & Cybersecurity Solutions
In a bid to provide real time monitoring and detecting of enterprise fraud and cyber-attacks, Best of Breed Business Solutions (BBBS) has partnered Barac in providing Barac solution to Nigerian Banks and telcos.
Omar Yaacoubi, chief executive officer and co-founder, Barac, said at an event to unveil the solution to Nigerian banks in Lagos that Barac is real time feasibility solution that helps organisations detect threats, fraud and cyber-attacks in real time and with high accuracy across different channels.
“What is unique is that we have seen worldwide that fraud and cybersecurity have become more convergence, where more people in an organisations are stealing data from their organisations to commit fraud, so, cybersecurity, fraud, internal threat, internal monitoring of attacks, internal threat are becoming more and more common.
“At Barac we help solve both problems because fraud is used by cyber attackers or by people inside to get the data, so both of them are very important and both of them need to be covered by one solution.
“Our solution uses artificial intelligent or machine learning and behavioural analytics. Machine learning is going to the data base to understand how the fraud is and how the problem behaves and how do we get to this fraud amount, the date and different information around that.
“This is combine with behavioural analytic which is more about the person, how do this person behave on different channels how do the user or customer behave so you can understand and detect any abnormal behaviour of the user or customer. That is where we are unique in combining both approaches to give very high accuracy,” he added.
He identified some of the existing challenges that Nigerian Banks are facing in tackling fraud and cyber-attacks which is slow adapting solutions to changes in the behaviour of hackers.
“There are a number of things banks need to do, first is innovative solutions that can adapt to hackers behaviour, sometimes they change their behaviour so the solutions the banks use needs to change their behaviour as well.
“With the current solutions that they have especially with the rule base solutions, banks will not be able to do that because it takes up to six to nine months to change the rules where you have to modify rules, it is very complex this is where solutions with behavioural analytic and machine learning will help to solve the problem.
“Secondly, is opening those silos that the banks have where the transactions system works alone, CRM system works alone, core banking solution will work alone, all those system are unique and will work alone on their own, so, that is where they need solution that communicate.
“They need solution that have holistic view, the solution that can detect attacks across the whole channels that they have, especially as they move into cloud and adding new capabilities and opening their networks to new features like USSD, Fintech companies that have access to the banking data,” he said.
According to Ethelbert Mbama, chief executive officer, Best of Breed Business Solution, “We understand the challenges in Nigeria today with Digital Transformations, engagement in multi channels, opening up platforms with Third Parties and Partners, Reactive mode instead of Proactive mode, Preventive instead of Reactive, Data explosion and most importantly, the changing patterns of Fraudsters as well as the role of Internal employees in conjunction with external fraudsters.
“We have x-rayed major patterns and use cases Fraudsters have been using, like Sim Card Swap, opening multiple accounts in Banks with same picture, linking of debit cards to accounts, disabling of internal applications settings of customers and tampering with internal applications.
We understand the issue of Data quality which generates thousands of false positives that is time wasting in investigations. We equally understand the high cost associated with investments in Fraud and Cyber Security in organizations especially around Infrastructure and multiple Security solutions to handle different kinds of security issues.
“We understand the silo nature of multiple solutions that do not talk to each other, none availability of 360 degrees view of the entire security monitoring and analysis, and huge cost associated in Annual maintenance, upgrades, etc of different applications used to secure the organization.”
Nigeria’s data protection industry has grown into a N16.3 billion ecosystem within three years of formal regulation, according to the Nigeria Data Protection Commission (NDPC).
Olufemi Ibitayo, head of Finance Management and Control, NDPC, announced the milestone at the Regional Data Governance Exchange in Nairobi, Kenya, where he represented Dr Vincent Olatunji, national commissioner and chief executive officer, NDPC.
Presenting Nigeria’s progress, Ibitayo said the country’s strong regulatory framework and the establishment of an independent data protection authority have strengthened confidence in the digital economy and enhanced Nigeria’s reputation as a destination for foreign investment.
The Regional Data Governance Exchange, organised by the Data Governance in Africa Initiative and hosted by the Office of the Data Protection Commissioner in Nairobi, brought together African data protection authorities to strengthen institutional capacity, deepen collaboration and promote peer learning on data governance. Photo: NDPC
He said the Commission’s “Compliance First, Not Punishment” approach encourages organisations to meet their obligations through dialogue and voluntary compliance, while ensuring effective regulatory oversight.
Ibitayo added that the NDPC is developing regulatory technology solutions, a regulatory sandbox and a data privacy innovation laboratory to further strengthen Nigeria’s data governance ecosystem and support future growth.
United Nations Commission on International Trade Law (UNCITRAL)
The ongoing UNCITRAL session has brought together delegates from Nigeria, Australia, China, Ghana, France, the United States and other member states to develop harmonised legal frameworks aimed at facilitating secure, trusted and efficient cross-border digital commerce. Photo: NDPC
Meanwhile, Olatunji reaffirmed Nigeria’s commitment to global data governance during a meeting with Nigeria’s Permanent Representative to the United Nations, Ambassador Jimoh Ibrahim.
He made the remark on the sidelines of the ongoing United Nations Commission on International Trade Law (UNCITRAL), where Nigeria is participating alongside delegates from several member states to advance harmonised legal frameworks for secure and trusted cross-border digital commerce.
The NDPC boss highlighted the Commission’s achievements since its establishment, noting that strategic institutional reforms have positioned Nigeria as a leading voice in the global data protection ecosystem.
He said the country’s data protection framework has continued to earn international recognition, adding that the Commission remains committed to promoting trusted data governance as a driver of digital transformation, economic growth, innovation and sustainable development in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
During the meeting, Ambassador Ibrahim commended the Commission’s progress since the enactment of the Nigeria Data Protection Act 2023 and called for the establishment of a comprehensive national data bank to support evidence-based policymaking, research and national development.
National Identity Management Commission (NIMC) has said thet more than 136 million Nigerians and legal residents have been enrolled in the National Identity Database (NIDB).
In a statement on Tuesday, Kayode Adegoke, head of corporate communications, NIMC, said Abisoye Coker-Odusote, chief executive officer (CEO) of the commission, announced the milestone during a courtesy visit to the ministry of budget and economic planning.
In April 2025, NIMC said over 117.36 million Nigerians had been enrolled as of February 28, 2025.
The visit was part of the commission’s ongoing stakeholder engagements with ministries, departments and agencies (MDAs) on the implementation of the NIMC Act 2026.
Presenting the new Act, Coker-Odusote said the legislation repeals and replaces the 2007 NIMC Act, modernising Nigeria’s digital identity ecosystem by positioning the national identification number (NIN) as the country’s foundational identity under the “one person, one identity” policy.
She said the law also establishes NIMC as the root certificate authority for the national digital infrastructure and introduces stronger data protection and cybersecurity measures, as well as digital credentials.
“The Federal Government remains committed to enrolling and issuing NINs to all Nigerians and legal residents within the shortest possible time,” Coker-Odusote said.
She added that NIMC is ready to collaborate with the ministry of budget and economic planning to leverage the NIN for economic planning and national development initiatives.
Speaking during the visit, Abubakar Atiku Bagudu, the minister of budget and economic planning, reaffirmed the federal government’s commitment to the implementation of the NIMC Act 2026.
Bagudu described the legislation as “a transformative milestone” that would strengthen Nigeria’s digital identity ecosystem and accelerate national planning and development.
He commended the NIMC director-general and the commission’s leadership for their efforts in securing the passage of the legislation, noting that it provides “a solid legal foundation for a trusted, secure, and inclusive national identity management system”.
The minister, however, said the true measure of the Act’s success would lie in its implementation and the benefits it delivers to Nigerians.
“The true measure of the Act’s success will lie in its effective implementation and the tangible benefits delivered to citizens,” he said.
Bagudu also called for stronger collaboration across the federal, state and local governments to build public confidence in the national identity system and eliminate the duplication of identity databases across government institutions.
He said the NIN should serve as Nigeria’s single, universally accepted identity standard, supporting efficient service delivery and good governance.
On June 26, President Bola Tinubu signed the NIMC Act 2026 into law, repealing the commission’s 2007 establishing Act.
At the time, Olubunmi Tunji-Ojo, minister of interior, said the legislation would strengthen Nigeria’s legal framework for digital identity management, cybersecurity and secure digital authentication, while reinforcing the NIN as the country’s foundational identity credential under the “one person, one identity” principle.
Plateau State Public Complaints Commission (PCC), an agency of the state established to investigate complaints of abuse of office, administrative injustice and other forms of official misconduct is allegedly collecting personal information from members of the public through its website with no privacy policy.
According to investigation by Foundation for Investigative Journalism (FIJ), PCC is falling short of a key transparency requirement under Nigeria’s data protection laws.
FIJ found on Tuesday that PCC collects personal information from members of the public through its website despite providing no privacy policy explaining how that information is collected, processed, stored or protected.
The commission serves as the state’s ombudsman, receiving complaints free of charge against public institutions and private organisations on issues including wrongful dismissal, victimisation and administrative negligence.
Yet, while its online complaint portal requests personal information such as names, phone numbers, email addresses, subject lines and complaint details, visitors are given no privacy notice explaining what becomes of that information after it is submitted.
The omission means visitors are not told why their information is being collected, how long it will be retained, the legal basis for processing it or the rights available to them as data subjects.
WHAT IS THE POSITION OF THE LAW?
The guidelines issued by the National Information Technology Development Agency (NITDA) are explicit: every government website is required to have a privacy policy.
Section 10.4 (i, ii) of the NITDA guidelines mandates all government websites to exercise diligence when collecting personal details or information about visitors on their websites.
The requirement is intended to ensure transparency and accountability in the handling of personal information, allowing visitors to understand why their data is collected, how it will be used and the safeguards in place to protect it.
Similarly, the Nigeria Data Protection Act (NDPA) 2023 requires data controllers to provide privacy notices to individuals before, or at the point of, collecting their personal information.
Such notices are expected to disclose, among other things, the purpose for collecting the data, the legal basis for processing it, the period for which it will be retained and the rights available to data subjects.
Section 27 of the NDPA states:
(1) Before a data controller collects personal data directly from a data subject, the data controller shall inform the data subject of the – (a) identity, residence or place of business of, and means of communication with the data controller and its representatives, where necessary;
(b) specific lawful basis of processing under section 25(1) or 30(1) of this Act, and the purposes of the processing for which the personal data are intended;
(c) recipients or categories of recipients of the personal data, if any;
(d) existence of the rights of the data subject under Part VI;
(e) retention period for the personal data;
(f) right to lodge a complaint with the Commission in accordance with section 46 (1) of this Act; and
(g) existence of automated decision-making, including profiling, the significance and envisaged consequences of such processing for the data subject, and the right to object to and challenge such processing.
Without a privacy policy, visitors have no way of knowing the commission’s data-handling practices or the safeguards, if any, in place to protect the personal information they submit through the website.
At press time, the Plateau State Public Complaints Commission’s website had no privacy policy.
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