E-Business
Lagos Dangles N230m for Start-Ups in Lagos

Governor Babajide Sanwo-Olu has launched the Lagos State Science Research and Innovation Council (LASRIC), setting aside $687,000 (about N250 million) start-up funds for investment in research and development of tech-focused solutions across the six pillars of his administration’s development agenda.

Governor Babajide Sanwo-Olu
With a whopping N250 million seed capital earmarked by the Lagos State government for technology and innovation, tech start-ups and young innovators in the state now have the opportunity to push their entrepreneurial skills to the next level.
Sanwo-Olu, also launched the Lagos Innovation Master Plan, a four-planked special purpose vehicle for addressing the state’s socio-economic challenges by using innovative and smart methods.
The innovation Master Plan launched by the governor at the maiden edition of Art of Technology Lagos, comprised Data Access, Talent Building and Broadband infrastructure development plans; Lagos State Science and Technology Council; Lagos State Solution Hub; and the Open Government Initiative.
Sanwo-Olu, said the plan was to use combined technological mix to help his administration tackle problems in the state as captured in its agenda, which include: Transportation & Traffic Management, Health and Environment, Education and Technology, Making Lagos a 21st Century Economy, Entertainment, Tourism, Security, and Good Governance.
He added that the N250 million would be injected in the Science and Innovation Fund, chaired by Prof. Toying Ogundipe, Vice Chancellor of the University of Lagos, for tech innovators and creators in the state to access funds to boost their business.
According to him, the innovation master plan will highlight the government’s critical focused areas that will unleash a culture of problem solving initiative. This now addresses the four main pillars that are required to enable a vibrant innovative ecosystem.
Sanwo-Olu said: “In the next two years, we are hoping to be able to do what we call, a Metropolitan Fibre Grid. We are hoping to have in the next two years about 6000kms of fibre; it’s a total mix, we want to mix the whole system. We want to have a smart city which we are. So we will be signing that before the end of this year or sometime early next year.
“With this administration’s activity in these four areas, the innovation ecosystem is sure to receive the needed boost to raise the communication to the state of the economy.
“We are also launching today, the Lagos State Science and Innovation Council. This council will be responsible for the management of the science itself and the Innovation Fund. This fund is primarily tasked with investment in research and development in science and technology across different thematic areas of the state, from Artificial Intelligence to Robotics to Health and Informatics and Green energy.
“The Lagos State Science Research and Innovation Council will direct funds to solve issues of national significance through science and technology research.
He further said: “The third one is the Lagos State Solution Hub. We will be democratising access to state’s actions in critical strategy of this government, such that the Lagos State Solution Hub serves as the first point of call for innovators, solution providers and innovators on proposing their solutions to the state.
“We realise that crowd sourcing and inclusive strategies are key ingredients to solve a mirage of challenges we face. The solution hub will enable us to make The website is: lagossolutionhub.com.
“The last one is the Open Government Initiative. Data access is seen as critical for building solution culture. The open government has kicked off and we will be communication the major milestones to the public soon.”
He, however, described the Art of Technology Lagos as a platform on which the vision of Lagos State as a smart city would be unraveled, adding that the maiden edition will open the window for ideas, concepts and principles encriptively created for Lagosians and Nigerians to breakout and transform the landscapes.
“We are prepared to provide Lagosians with the opportunity to connect to the global stage. We cannot disaffirm the intractable challenges that face states like ours. With the population that is so high, we have obviously infrastructural challenges.
“A new sustainable method of transportation and infrastructural development needs to be formulated to keep up with the population growth. The use of Artificial Intelligence to predict the movement human resource and material and reverse the environmental degradation are critical solutions we need to adopt,” Sanwo-Olu said.
E-Business
CPN Begins Crackdown on Quack IT Professionals, Vows Tougher Action against Cybercrime

Computer Professionals (Registration Council of Nigeria), also known as CPN has begun a nationwide crackdown on quackery and unlicensed practices in a bid to strengthen professional standards in the country’s information technology sector.

CPN has also vowed tougher action against cybercrime in the country.
These were the major decisions taken at its 2026 Information Technology Professionals’ Assembly and Annual General Meeting (AGM) on Friday
Essien Eyo, president and chairman of Council of CPN, speaking at a virtual press conference, said the council would continue to enforce strict compliance with professional regulations to safeguard the integrity of Nigeria’s computing ecosystem.
He warned that the council would not tolerate unlicensed practice in the sector, stressing that regulatory enforcement would be strengthened in line with its statutory mandate.
“The Act makes it mandatory for all persons and organisations seeking to engage in computing and professional services to be registered and licensed by the council.
“It is illegal to engage in computing and professional practice without satisfying the requirement of registration and possession of a valid licence,” Eyo said.
He added that the council was determined to rid the sector of quackery and ensure that only qualified professionals are allowed to operate.
“CPN is committed to ensuring high professional ethics and standards, and we will continue to intensify efforts to eliminate quackery, arbitrary practice and lack of standards in the IT sector,” he stated.
Eyo disclosed that the 2026 IT Professionals’ Assembly, scheduled for May 13 and 14 at the NAF Conference Centre, Kado, Abuja, would serve as a key platform to advance regulatory compliance, professional development and industry collaboration.
The event, now in its 20th edition, has the theme, “Digital Resilience and Inclusion for Smart Economy,” and aligns with Nigeria’s broader digital economy and Renewed Hope Agenda.
He explained that the theme reflects the urgent need to build a secure, inclusive and resilient digital ecosystem capable of withstanding modern technological disruptions.
“In an era defined by rapid technological change, cybersecurity threats, economic disruptions and evolving digital demands, resilience ensures that digital infrastructure and institutions can withstand shocks and sustain growth,” Eyo said.
“At the same time, inclusion guarantees that no segment of society is left behind in accessing digital opportunities.”
He said the assembly would also focus on emerging digital risks, ethical technology deployment, inclusive policy frameworks and strengthening collaboration among government, industry, academia and civil society.
Eyo further noted that the event would feature the induction of new members into the computing profession and would be delivered in a hybrid format to ensure wider participation.
“The 2026 IT Professionals’ Assembly is not just an event but a strategic platform for shaping Nigeria’s digital destiny,” he said.
He confirmed that the keynote address would be delivered by Bosun Tijani, minister of Communications, Innovation and Digital Economy.
Also speaking, Aliu Abdullahi, vice president of Council, said the establishment of CPN was a Federal Government response to the need for proper regulation of Nigeria’s growing IT sector.
He said the council’s mandate includes setting professional standards, accrediting academic programmes, conducting examinations, regulating practice, enforcing ethics and maintaining the national register of computing professionals.
Abdullahi reiterated that all individuals and organisations engaged in IT training, computing services and related activities must be duly registered and licensed by the council.
He urged media organisations to support public awareness of the council’s activities, especially the forthcoming assembly, which he described as critical to strengthening Nigeria’s digital governance and professional integrity.
E-Business
Nigeria Hit by 24.1m Data Breaches – Surfshark

Surfshark, a Netherlands-based cybersecurity firm, has reported that Nigeria recorded about 24.1 million compromised user accounts since 2004, making it the third most affected country in Sub-Saharan Africa.

The report, which analysed global data breach trends for the first quarter of 2026, showed that Nigeria recorded 281,500 leaked accounts between January and March 2026, ranking the country as the 34th most breached nation globally during the period.
Globally, the report revealed that 210.3 million accounts were breached in the first quarter of 2026, representing a sharp increase compared to previous periods.
The United States accounted for 29 per cent of all reported breaches worldwide, followed by France, India, Brazil and the United Kingdom.
According to the report, cyber threats targeting Nigerian users have continued to intensify over the years, exposing millions of individuals to risks such as identity theft, account hijacking, extortion and financial fraud.
Surfshark disclosed that about 7.5 million unique email addresses linked to Nigerian users have been exposed since 2004, while approximately 13 million passwords were leaked alongside compromised accounts.
The report noted that more than half of breached Nigerian users remain vulnerable to cyber-related crimes.
“Statistically, 10 out of 100 Nigerian people have been affected by data breaches,” the report stated.
Further analysis showed that leaked data linked to Nigerian users included highly sensitive information such as Social Security-related records, payment card details, residential addresses, and personal contact information.
According to the report, about 3,900 Social Security-related records and 1,600 payment card details were exposed, alongside 1.9 million phone numbers and more than 925,000 residential addresses.
The cybersecurity firm warned that the growing scale of data exposure reflects increasing vulnerabilities in the global digital ecosystem as businesses accelerate the adoption of artificial intelligence technologies.
Commenting on the trend, Tomas Stamulis, chief security officer, Surfshark, said the rapid integration of AI systems by companies has significantly expanded the volume of user data being collected and stored.
According to him, businesses are increasingly relying on AI-driven tools for automation, analytics and operational efficiency, leading to the accumulation of larger datasets that could become attractive targets for cybercriminals.
The report cited industry statistics indicating that 20.2 per cent of companies used AI technologies in 2025, up from 8.7 per cent in 2023.
“These AI-driven systems collect and log more detailed user information for automation, analytics, and model improvement,” Stamulis said.
He added that while artificial intelligence improves productivity and operational efficiency, it also increases the number of systems organisations must secure, thereby creating additional opportunities for cyberattacks and data leaks.
Stamulis further warned that compromised personal information often retains value for cybercriminals long after passwords or email credentials have been changed.
According to him, hackers frequently combine old and newly leaked information into so-called “combo lists,” which are repeatedly traded or deployed for fraudulent activities and identity theft schemes.
He advised internet users to minimise the amount of sensitive personal information shared online, use alternative email identities or masking services where possible, and provide confidential information only when necessary.
The report also showed that global breached accounts in the first quarter of 2026 tripled compared to the corresponding period of 2025 and rose by 22 per cent relative to the fourth quarter of 2025, underscoring the growing sophistication and frequency of cyberattacks worldwide.
E-Business
NITDA Warns of AI-Powered DeepLoad Malware Targeting Banks, Govt Agencies

National Information Technology Development Agency (NITDA), has raised alarm over a new artificial intelligence-powered malware known as “DeepLoad,” warning that the cyber threat is actively targeting Nigerian government agencies, financial institutions, businesses and individuals.

The agency disclosed this in a critical advisory issued through its Computer Emergency Readiness and Response Team (CERRT.NG) and shared via its official X account.
The warning comes amid a growing wave of cyber-attacks targeting Nigerian organisations, including private institutions such as banks and government agencies like the Corporate Affairs Commission (CAC).
According to NITDA, DeepLoad is an AI-enhanced malware strain designed to infiltrate systems, steal sensitive information and evade conventional antivirus detection systems.
“The malware is distributed through a social engineering technique involving fake website error,” the advisory stated.
NITDA explained that the malware spreads through deceptive website prompts that trick users into executing malicious commands on their computers.
“Once executed, DeepLoad silently installs itself, harvests stored credentials and sensitive data from major browsers, and leverages artificial intelligence to evade antivirus detection,” the agency said.
The agency further warned that one of the most dangerous features of the malware is its ability to remain active even after attempted removal.
“Critically, the malware incorporates a hidden WMI-based persistence mechanism capable of reactivating the infection up to three days after apparent removal,” it stated.
NITDA stressed that the severity of the threat requires immediate action from both organisations and individuals across the country.
“Given its severity and confirmed active targeting of Nigerian entities, all organizations and individuals must implement the protective measures outlined in this advisory immediately,” the agency added.
The agency warned that individuals, government institutions, businesses, large organisations and small enterprises are all vulnerable to the rapidly evolving cyber threat posed by DeepLoad.
According to NITDA, a successful DeepLoad infection could grant cybercriminals unauthorised access to bank accounts, mobile money services and payment cards, while also enabling the theft of passwords, documents and sensitive personal information stored on web browsers.
The agency warned that the stolen information could be exploited for identity fraud, allowing criminals to impersonate victims for financial gain.
For organisations, NITDA said infections could trigger operational disruptions requiring complete system isolation and remediation procedures. It added that attacks on government systems could compromise classified networks and pose broader national security risks.
To prevent infections, NITDA advised Nigerians never to paste commands from websites into their computers, noting that legitimate software providers do not request such actions.
The agency also cautioned users against opening suspicious files such as “Chrome Setup” or “Firefox Installer” from USB drives and advised that all external storage devices be scanned with antivirus software before use.
NITDA further recommended enabling two-factor authentication on important accounts and avoiding the storage of banking passwords directly on web browsers.
For organisations, the agency urged companies to immediately sensitise staff about the DeepLoad threat, enable PowerShell Script Block Logging across Windows systems and review browser extensions for unauthorised installations.
The advisory also recommended blocking malicious domains, including holiday-updateservice[.]com, forest-entity[.]cc and hell1-kitty[.]cc, at firewall and DNS levels.
Additionally, organisations were advised to check for hidden WMI Event Subscriptions that could allow the malware to survive standard cleanup procedures.
NITDA said institutions that suspect infections should immediately disconnect affected systems from the internet, change all passwords from clean devices, isolate compromised systems, activate incident response teams and report incidents to the agency within 72 hours as required by law.
The latest warning has added to growing concerns over cyber attacks targeting Nigeria’s financial and digital infrastructure in recent months.
In April, the Nigeria Data Protection Commission (NDPC) warned about coordinated cyber threats targeting Nigeria’s financial systems and critical digital infrastructure, urging organisations to strengthen their data protection architecture.
The warning also followed the commission’s announcement of an investigation into an alleged data breach involving Remita Payment Services, Sterling Bank and other entities.
Similarly, the Corporate Affairs Commission (CAC) temporarily shut down its website between April 17 and April 20, 2026, following reports that about 25 million documents may have been exfiltrated during a suspected cyber attack.
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