E-Business
APBN Bemoans Eleven Months Instability in Nation’s Policy Direction

The Association of Professional Bodies of Nigeria (APBN) has lamented against what it called 11 months of instability in policy direction of the economy as most of the policy makers, since January, 2015 were either on the field campaigning for electorates’ votes or awaiting Presidential appointments.
Speaking to journalists during the Associations’ meeting held at the Nigeria Computer Society (NCS) national secretariat in Lagos, Foluso Fasoto, president/chairman of Council/board, Association of Professional Bodies of Nigeria (APBN), said that Professional Bodies in the country believe it is high time those in Government ditched the attitude of politicking with the management of the country’s economy.
APBN is the umbrella body of government recognized professional Associations in Nigeria set up to speak with one voice on behalf of its Member-bodies while at the same time gives professional advice to Government on matters affecting the professionals and their practices.
Fasoto said that the Association has been following recent events in the country, especially after four months of playing waiting game, the list of ministerial nominees was eventually submitted to the National Assembly which confirmed the appointments of all the nominees. “They were eventually sworn in last month and most of them are about now settling down to business. In essence, the year 2015 witnessed almost eleven (11) months of instability in policy direction of the economy as most of the policy makers, since January, 2015, were either on the field campaigning for electorates’ votes or awaiting Presidential appointments. Nevertheless, we thank God that the economy is now being expected to take shape”.
Treasury Single Account
The Association extolled the Federal Government for summoning courage and directed all the government Ministries, Departments and Agencies (MDAs) to close the multiple accounts already opened with Commercial Banks for their various operations and maintain the designated Treasury Single Account with the Central Bank of Nigeria (CBN).
“This is a welcome development as the resultant effect has shown that the Federal Government is tremendously more liquid than earlier imagined. We however want to quickly caution that while the Government savors the positive result of this directives, the long-run adverse effect of it should equally be given prompt attention so as not to stifle the economy during any emergency,” he said.
Nigerian Economy
Fasoto said it is no longer news that Nigerian economy rely majorly on oil, but despite the oil glut in the recent past, there has not been appreciable breakthrough visible to ordinary Nigerians towards diversifying the economy.
“Our country is endowed with all the resources to be among the first world but for the effective and efficient management of this resources. That is why our governments at all levels cannot ignore the active participation of our members (the professionals) in the governance. Enough of politicking with the management of the country’s economy.
“There is need for setting proper objective for Nigerian economy – where do we want to be in say, 20 years’ time? Do we aspire to remain a developing country “until kingdom come” or we hope to join the league of the first world in say, 15 years’ time? There is need for this objective to be well defined by the Federal Government and widely communicated to all citizens. This will eliminate policy somersault syndrome which avoidably usually afflict us in this country,” the APBN President said.
Employment Generation
On employment generation for the teeming youths, he said, there is foremost need to secure enabling environment for the achievement of such objective as unemployment is a global albatross on most countries of the world, Nigeria not exception.
“However, most countries are strategizing to get out of the problem by creation of employment, using their internal resources. We have human resources experts (such as the Chartered Institute of Personnel Managers of Nigeria, Nigeria Institute of Management (Chartered) Chartered Institute of Administrators, etc.) in our midst who are ready to partner with government to address this problem also with a view to finding lasting solution.
“We therefore call on the government, especially the newly sworn-in Ministers and Governors to make use of these “Nigerian products”.
Against this backdrop, Professor Adesola Aderounmu, president of the Nigeria Computer Society (NCS), reiterated that the place of Information Technology (IT) sector as an agent of change and development cannot be overemphasized.
He emphasized that, worldwide, IT is a major driver of the economy. “Being the acknowledged professional authority in this sector, our aims are socio-economic growth, job creation, poverty reduction and deepened diversification of the economy. Indeed technology holds significant promise as a major revenue earner.
According to Aderounmu, to enhance the deployment of ICT to advance the values of wealth creation and effective leadership in the nation, NCS as a member-body of APBN has discovered the need for an Office of Chief Information Technology Officer of the Federation, approve the pending National Software Policy (NSP) as a blueprint aimed at providing a strategic roadmap to make Nigeria a competitive country in the area of software engineering and digital knowledge development and implementing e-Government strategy as imperatives for corruption-free, equitable, productive and knowledge-based society.
However, the submissions by the Professional Bodies centered on four core issues including Rule of law; Security; Economy and Promotion of professionalism.
E-Business
Nigerian Terra Industries Secures $11.8m for Expansion

Terra Industries, a Nigerian defence technology startup, has raised $11.75 million to expand its development of defensive systems that protect critical facilities across Africa.

The fundraising round was led by Silicon Valley venture firm 8VC, which was founded by Palantir co-founder Joe Lonsdale.
Other investors in the round include Valour Equity Partners, Lux Capital, SV Angel, and Nova Global, as well as African-focused funds Tofino Capital, Kaleo Ventures, and DFS Lab.
Terra Industries, founded in Abuja by Nathan Nwachuku and Maxwell Maduka, provides multi-domain security solutions for both air and land. Its solutions are intended to detect and respond to threats including terrorism, sabotage, and armed attacks on infrastructure.
The company’s product portfolio includes surveillance drones, ground-based robotic systems, and fixed monitoring towers deployed around sensitive locations.
Co-founder and CEO Nathan Nwachuku said the company has now fully embraced its identity as a defence-focused startup, citing the growing urgency of security challenges across Africa.
He said safeguarding critical infrastructure from terrorist threats has become unavoidable.
Nwachuku argues that protecting Africa’s infrastructure requires a different approach, one that combines local manufacturing, end-to-end system control, and software capable of independently identifying and responding to threats over large areas.
The company aims to position itself as a defence prime, similar to the role played by firms such as Anduril Industries and Palantir in the United States.
Nwachuku also disclosed that the company had earlier raised $800,000 in pre-seed funding.
With the new funding, Terra plans to increase manufacturing capacity within Africa, establish additional defence production facilities, and expand its artificial intelligence and software teams.
While software offices are planned for San Francisco and London, the company said manufacturing operations will remain on the continent.
E-Business
Kaspersky Warns Telecom Threats from 2025 will Carry into 2026 as New Technology Adds New Risk

Kaspersky Security Bulletin reviews what shaped telecom cybersecurity in 2025 and what is likely to persist in 2026. Advanced Persistent Threat (APT) activity, supply-chain compromise, DDoS disruption and SIM-enabled fraud continued to pressure operators in 2025, while newer technology deployments introduce additional operational risk.

In 2025, telecom operators faced four broad threat categories. Targeted intrusions (APTs) continued to focus on gaining stealthy access to operator environments for long-term espionage and leverage through privileged network positioning.
Supply chain vulnerabilities remained an entry point: telecom ecosystems rely on many vendors, contractors and tightly integrated platforms, so weaknesses in widely used software and services can provide a path into operator networks. Finally, DDoS remained a practical availability and capacity problem.
Kaspersky Security Network showed that last year, between November 2024 and October 2025, 12,79% of users in the telecommunications sector encountered web threats and 20,76% faced on-device threats. 9,86% of telecom organisations worldwide experienced ransomware.
At the same time, the telecommunications sector is moving from rapid technological development to broad implementation — and the report argues that this shift creates new opportunities and new operational risks for 2026.
Kaspersky highlights three areas where technology transitions could introduce disruption if rolled out unevenly or without strong controls: AI-assisted network management, where automation can amplify configuration errors or act on misleading data; post-quantum cryptography transitions, where rushed deployment of hybrid and post-quantum approaches could cause interoperability and performance issues across IT, management and interconnect environments; and 5G-to-satellite integration (NTN), where expanding service footprints and partner dependencies introduce new integration points and potential failure modes.
“The threats that dominated 2025 — APT campaigns, supply chain attacks, DDoS floods — aren’t going away. But now they intersect with operational risks from AI automation, quantum-ready cryptography, and satellite integration.
Telecom operators need visibility across both dimensions: maintaining strong defences against known threats while building security into these new technologies from day one. The key is continuous threat intelligence that spans from endpoint to edge to orbit,” said Leonid Bezvershenko, senior security researcher at Kaspersky Global Research & Analysis Team.
E-Business
Study Reveals 88.5% of Phishing Attacks Focus on Stealing Account Credentials

Kaspersky analysed phishing and scam campaigns observed from January through September 2025 and found that 88.5% of attacks globally sought credentials for various online accounts.

Another 9.5% targeted personal data such as names, addresses, and dates of birth, while 2% focused on bank card details.
According to data from Kaspersky, over 38 million phishing links were clicked in Africa in the previous year (from November 2024 to October 2025) – all of which were detected and blocked by Kaspersky solutions.
Not everyone uses protective solutions on their devices however, and phishing remains one of the most prevalent cyber threats, with attackers luring users to fake websites where they unwittingly surrender their login credentials, personal information, or bank card details.
Kaspersky research shows that most phishing pages transmit stolen information via email, Telegram bots, or attacker-controlled panels, before it enters underground resale channels.
Data stolen through phishing is rarely used only once: credentials from multiple campaigns are consolidated into data dumps and sold on dark web markets, in some cases for as little as $50. Buyers sort and verify the data to check whether accounts remain active and reusable across different services.
According to Kaspersky Digital Footprint Intelligence, average 2025 prices ranged from $0.90 for global Internet portals to $105 for crypto platforms and $350 for online banking access. Personal documents such as passports or ID cards sold for about $15 on average, with pricing influenced by account age, balance, linked payment methods, and security settings.
As datasets are enriched and combined, attackers can build detailed digital profiles that may later support targeted attacks on executives, finance staff, IT-administrators or individuals with valuable assets or personal documents.
“Our analysis shows that credentials account for nearly 90% of phishing attempts. Once collected, logins, passwords, phone numbers, and personal details are aggregated, checked, and resold, sometimes years after the initial theft.
Combined with new information, even old credentials can enable account takeovers and targeted attacks against both individuals and organisations.
By leveraging open-source intelligence and old breach data, attackers can craft highly personalised scams, turning one-time victims into long-term targets for identity theft, blackmail, or financial fraud,” said Olga Altukhova, senior web content analyst at Kaspersky.
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