E-Business
Obaro Seeks Attention to Cybersecurity as Digital Transformation Ramps Up

As the pace of digital transformation ramps up across the world with increased use of data and cloud technology by organisations and governments, technology experts have called for a renewed focus on cybersecurity to ensure data protection and privacy.

According to John Obaro, the Managing Director of financial technology and human resources solutions powerhouse, SystemSpecs, the increasing spate of cyber-attacks and the role of malicious insiders indicate that traditional approaches to data security are no longer sufficient.
Therefore, individuals, organisations and governments must be one or more steps ahead of cyber attackers.
Obaro spoke recently during the second edition of the Art of Technology conference, tagged “Smart Data, Smarter Lagos” which held in Lagos.
Organised by the Lagos State Government in conjunction with the private sector, the event facilitated multi-stakeholder discussions, exchanges and collaborations aimed at identifying and leveraging the outcomes of data and its insights to the development of smart cities.
According to Obaro, malicious actors now have access to billions of interconnected devices with ransomware, phishing, data leakage, hacking and insider threat as some of the most common global scourges to the cyberspace.
He listed artificial intelligence and deep learning, behavioural analytics, embedded hardware authentication, blockchain cyber security, and the zero-trust model as some of the various security technologies available to tackle the threats.
“Already, many progressive organisations that are security-conscious are adopting some of these measures to ensure they avert direct and third-party security breaches,” Obaro said.
The technology expert further highlighted data breaches, data loss, access control, denial of service, insecure interfaces and poor API implementations, as some of the security challenges faced by organizations and government today in the use of cloud.
He, nevertheless, encouraged the continued use of big data, video analytics and predictive analysis in order to detect and resolve cyber security threats, predict and avoid the possibilities of intrusion and invasion, and take intelligence-based action, amongst other benefits.
John Obaro founded SystemSpecs, one of the oldest technology companies in Nigeria, 29 years ago. Since then, the company has grown into an African giant, expanding internationally and creating customer-centric solutions that include Remita, an innovative payment solution; HumanManager, a human resource and payroll management solution; and Paylink.ng, an ecommerce platform for SMEs.
Other speakers at the Art of Technology conference include Michael Seibel, CEO, Y-Combinator; Ibukun Awosika, Chairman, First Bank of Nigeria; Lisa Da Silva, Principal Investment Officer, IFC; Demola Sogunle, CEO, Stanbic IBTC; and Tomi Davies, Collaborator-in-Chief, TVC Labs.
E-Business
Report Reveals DLL Hijacking Attacks have Doubled since 2023

Dynamic link library (DLL) hijacking is a common technique in which attackers replace a library loaded by a legitimate process with a malicious one.

It is used by creators of mass-impact malware, like stealers and banking Trojans, as well as by APT (advanced persistent threat) and cybercrime groups behind targeted attacks. Kaspersky reports that DLL hijacking attacks have doubled in the past two years.
Kaspersky has observed this technique and its variations, like DLL sideloading, in targeted attacks on organisations in Russia, Africa, South Korea, as well as other countries and regions.
To further enhance its protection capabilities against this threat, Kaspersky SIEM has introduced a specialised AI-based subsystem that continuously analyses information about all loaded libraries.
The new feature has already proven effective, helping to detect an attack by the APT group ToddyCat. It enabled the threat to be identified and blocked at an early stage, preventing any impact on the targeted organisations. The model also uncovered attempts to infect potential victims with an infostealer and a malicious loader.
“We are seeing DLL hijacking attacks become more common, where a trusted program is tricked into loading a fake library instead of the real one. This gives attackers a way to secretly run their malicious code.
“This technique is difficult to detect, and this is where AI can help. Using advanced protection techniques empowered with AI is now essential to staying ahead of these evolving threats and keeping critical systems safe,” says Anna Pidzhakova, Data Scientist at Kaspersky’s AI Research Center.
Securelist has published two related articles: the first explains how a machine-learning model was developed to detect DLL hijacking attacks, while the second describes how this model was integrated into the Kaspersky SIEM platform. The updated Kaspersky SIEMnow features AI functionality for detecting signs of DLL hijacking attacks, improving detection efficiency.
E-Business
Meta, NDPC Resolve $32.8m Privacy Dispute Out of Court

Meta Platforms, Inc., has, reconciled its differences with the Nigeria Data Protection Commission (NDPC) in the suit it filed to challenge NDPC’s $32.8m fine imposed against it.

The legal dispute between Meta and the NDPC ended after both sides agreed on terms to settle the $32.8 million fine earlier imposed on the company.
On February 18, 2025, the NDPC fined Meta $32.8 million and issued eight corrective orders for allegedly violating the privacy rights of Nigerian users through behavioural advertising practices on Facebook and Instagram.
At Monday’s proceedings before Justice James Omotosho of the Federal High Court, Abuja, Fred Onuobia, SAN, Meta’s counsel, informed the court that the parties had signed terms of settlement dated October 30 and filed on October 31.
“We adopt the terms of settlement and ask my lord to enter them as the judgment of the court,” Onuobia said.
Adeola Adedipe, SAN, Counsel for the NDPC, did not oppose the application.
Justice Omotosho then adopted the agreement as the court’s judgment and commended both parties for choosing to resolve the matter amicably.
“The terms of settlement entered by the parties in suit number FHC/ABJ/CS/355/2025, dated October 30 and filed October 31, 2025, are hereby adopted as the judgment of this court,” the judge ruled.
The decision ends months of litigation after Meta challenged the NDPC’s fine and enforcement orders through a judicial review, claiming the agency acted beyond its powers and failed to follow due process.
After several adjournments to allow for discussions, both sides eventually reached a mutual resolution.
The NDPC’s case against Meta is one of its major enforcement actions under the Nigeria Data Protection Act, signed into law by President Bola Tinubu in June 2023, which seeks to strengthen the protection of Nigerians’ data privacy rights.
E-Business
World Economic Forum Head Predicts AI, Crypto Bubbles

Large investments in artificial intelligence and cryptocurrencies could lead to the development of bubbles, according to Børge Brende, president, World Economic Forum (WEF).

Børge Brende, president, World Economic Forum
“There is definitely a geopolitical disorder … But even in the situation of geopolitical disorder, the global economy has been incredibly resilient – not necessarily in Europe but in India, China and the USA,” Brende said in Berlin.
He noted that this was being fuelled by investments in new technologies like AI.
“This year has seen $US500 billion ($A762 billion) of investments in AI alone. So, what we can be worried about is that there may be bubbles developing, be it a bubble on crypto or an AI bubble,” Brende said.
The WEF head said investors need to be patient with these investments.
But he also said that frontier technologies would be the new drivers of growth.
“We will also need to make sure that the new technologies and the benefits trickle down. We could even see productivity gains of 10 per cent in the coming decade. And productivity is prosperity,” Brende said.
He described the new technologies as “a big paradigm shift” and predicted breakthroughs in medicine, synthetical biology, space and energy.
“AI can accelerate processes so quickly,” he said.
The Norwegian has taken over from WEF founder Klaus Schwab.
The forum holds an annual conference in Davos in the Swiss Alps attended by world political and economic leaders.
The 56th conference is scheduled for January 19-23, 2026.
Brende also expressed concern about global crises and conflicts.
“There is definitely a geopolitical disorder: the world order we had is not there anymore. What is the next world order? Hopefully not the law of the jungle,” he said.
And, in a reference to current US tariff policy, he said that uncertainty was the highest tariff.
“One of my worries is that global investments are going down. We need to re-establish an environment for investments,” he said.
Brende said the current competition between the United States and China was “basically a competition for hegemony or dominance in technology. The country that leads in new technologies – be it quantum, superintelligence, AI, autonomous vehicles or synthetical biology – will also be the most powerful nation coming out of this century,” he predicted.
And he called for multilateral action to deal with “problems that don’t travel with a passport,” including pandemics and cybercrime.
The world is becoming more complicated with different groups forming, Brende said.
He pointed to a G4 of the US, China, Europe and India, followed by fast-growing economies like Indonesia, Malaysia, Nigeria and Brazil.
“It’s going to be a renaissance for mega-regional, so-called plurilateral, deals. But the world is going to be more complicated. There are going to be more suboptimal, not necessarily cost-effective solutions. There is going to be more friendshoring,” he said.
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