Telecom
CIOs in Nigeria Worry Over Incessant Data Breach
For Nigerian CIOs, the consequences of a possible security breach is their number one concern as they look to navigate an increasingly complex threat and regulatory landscape.
Ola Williams, Country Manager, Microsoft Nigeria
This is according to the Enterprise Security Trends in Nigeria survey, conducted by the IDC and commissioned by Microsoft, which highlights the latest cloud security developments in Nigeria.
Spend on security solutions among companies is growing along with cloud adoption services. According to the IDC, 72 percent of organizations in Nigeria have increased security budgets by 10 percent or more over the last few years. This is not only the result of accelerated cloud adoption levels, but also increased awareness of security in senior management and rising new threats.
The research reveals that the pace of enterprise-wide cloud adoption is rapidly increasing as business leaders look to ensure flexibility, agility and business continuity throughout their daily operations.
Almost half of organizations (41 percent) said they will be using a combination of on premises and cloud solutions in just two years’ time. Already, six percent of organizations prefer to use the cloud; and this number is expected to grow to eight percent over the next two years. This increased adoption speaks to the confidence companies have in cloud solutions as they prepare to navigate a post COVID-19 world.
An ever-changing threat landscape
Bad actors, however, have noticed that more data is being processed in the cloud and there’s been a noticeable increase in cyberattacks. In fact, the FBI ranked Nigeria 16th among the countries most affected by cybercrimes in 2020. The impact of the COVID-19 pandemic forced more people to learn, work, shop, bank and connect online than ever before.
More devices, networks and connection points have resulted in the expansion of the threat surface, bringing the need for a robust security strategy to the fore.
Security remains a major focus for Nigerian organizations with around 61 percent of companies prioritizing endpoint security solutions as endpoints increasingly move beyond the enterprise core.
Another 41 percent are implementing VPNs and virtual desktop infrastructure to secure remote workers. In line with the growing threat of phishing and ransomware, half of organizations are deploying identity and access management (IAM) solutions.
Companies also face pressure from government regulators to ensure company, employee and customer data remains protected.
The Nigerian Data Protection Regulation (NDPR) was brought into effect in October 2019 to regulate who can access and control personal data and help combat the growing threat of cybercrime. Despite this, just 12 percent of organizations feel they are fully compliant with Nigeria’s data protection regulations.
“There’s no doubt the risk landscape has become more complex, and while cybersecurity solutions have matured a great deal, threat actors are not idling. As organizations continue to pursue their digital transformation journey, security must be considered every step of the way to ensure a safer digital environment for all,” says Ola Williams, Country Manager for Microsoft Nigeria.
To find out more about cloud security trends in Nigeria, read the Cybersecurity: A Digital Transformation Imperative White Paper by the IDC and commissioned by Microsoft.
Vivo, Chinese smartphone maker has signed a memorandum of understanding (MoU) with Credit Direct, Nigerian consumer finance company to launch a device financing programme in the country.
L-R: Toni Liu, CEO, vivo Nigeria, and Chukwuma Nwanze, MD/CEO, Credit Direct, at the MoU signing in Lagos
This initiative aims to remove barriers to smartphone ownership while supporting Vivo’s expansion strategy in Nigeria.
Under the terms of the agreement, customers can purchase a Vivo smartphone by paying 20% upfront and spreading the remaining balance over six months.
Credit Direct will provide the financing.
Both companies target sales of more than 200,000 devices in the first year.
“People who need smartphones but cannot pay upfront can now do so through a payment plan that does not strain their monthly income. Our mission has always been to make financial solutions a universal opportunity, and this is exactly what this represents in practice. I am truly excited about what we can achieve together,” said Chukwuma Nwanze, chief executive officer of Credit Direct.
This initiative comes as smartphone financing programs gain momentum across Africa, where device affordability remains a key barrier to mobile internet adoption.
According to the GSMA, the median cost of an entry-level smartphone in Nigeria fell from $84 in 2018 to $18 in 2024, reducing its share of average monthly income to 26%.
However, currency depreciation and rising living costs have offset much of this progress.
For the poorest 40% of Nigerians, an entry-level smartphone still represents 56% of monthly income, while it accounts for 73% for the poorest 20%, highlighting persistent affordability constraints among vulnerable households.
Despite these challenges, smartphone ownership reached only 27% in Nigeria in 2024, according to the GSMA, leaving significant room for growth.
Data from StatCounter shows that Vivo held a 1.18% market share at the end of March 2026.
The company remains far behind market leader Tecno with 18.72%, followed by Infinix at 16.28%, Samsung at 15.4%, Apple at 14.15%, and Xiaomi at 8.17%.
Other players such as Oppo, Itel, and Huawei also operate in the market.
Nigeria’s foremost payments and financial inclusion dialogue platform, Payments Forum Nigeria (PAFON 3.0), will hold this Friday, April 24, 2026, at the prestigious Lagos Oriental Hotel, Lekki Road, bringing together regulators, fintech leaders, banks, policymakers, agent networks, cybersecurity experts, innovators, and ecosystem stakeholders to shape the future of digital payments in Nigeria.
Payments Forum Nigeria (PAFON 3.0
With the theme: “Fair Digital Payments as a Catalyst for Deepening Financial Inclusion in Nigeria,” PAFON 3.0 comes at a defining moment for the country’s digital economy as stakeholders seek practical pathways to close the inclusion gap, strengthen trust in payment systems, and accelerate access for underserved populations.
Why PAFON 3.0 is Different
“Unlike routine conferences, PAFON is a solutions-driven forum designed to bridge policy conversations with market realities.
“The event uniquely convenes fintech operators, agent banking networks, cooperatives, payment innovators, cybersecurity professionals, and thought leaders under one roof to tackle real challenges affecting Nigerians at the grassroots”, said Peter Oluka, co-convener of Payments Forum Nigeria.
“From digital trust and cybersecurity to agency banking, embedded finance, stablecoins, eNaira, SME growth, and healthcare financing, PAFON 3.0 is positioned as one of the most strategic gatherings in Nigeria’s payments ecosystem this year”, Oluka added.
High-Profile Keynote Speakers Confirmed
This year’s edition will feature a distinguished lineup of keynote speakers and industry leaders, including Prof. Adewale Peter Obadare, chief visionary officer, Digital Encode, and Dr. Jameelah Sherrief-Ayedu, vice president, FintechNGR & CEO, Credit Registry
Other confirmed speakers include, Dennis Ajalie, managing director, TeamApt Ltd.; Mr. Chika Nwosu, managing director, PalmPay Nigeria; Uche Uzoebo, MD/CEO, Shared Agent Network Expansion Facilities (SANEF Limited): Special Guest of Honour; Chike Onwuegbuchi, Chairman, Nigeria Information Technology Reporters Association of Nigeria (NITRA); Mojeed Abayomi Agboola, national president, Financial Inclusion Agents Multipurpose Cooperative Society (FIAMCS); Ibirogba Oluwagunwa, chairman Lagos Chapter, Association of Mobile Money and Bank Agents in Nigeria (AMMBAN); Sarafadeen Atanda Fasasi, and president, Association of Financial Inclusion Agents of Nigeria (AFIAN).
Fireside Chat on Africa’s Next Innovators
Another standout session will explore the future of digital currencies and regional interoperability: Stablecoins vs. eNaira: Orchestrating a Unified Digital Payment Rail for West Africa
This special fireside chat, hosted in collaboration with Lagos Blockchain Week, promises fresh perspectives on the next phase of Africa’s payment innovation journey.
Chuwuemeka Enoch Mbaebie, Lead convener of LBW will host the session alongside Senator Ihenyen, Lead Partner of Infusion Lawyers and Founding Trustee of the Virtual Asset Service Providers Association (VASPA); Victoria Oluebube Igboanugo, marketing lead, Lagos Blockchain Week; Chidubem Emelumadu, ecosystem lead (Africa), Lisk, and Harrison Obiefule, Nigerian lead for Superteam.
More Activities Lined Up
Attendees will also experience product demo of Myitura Healthcare Financing Solution;
Townhall Meeting on The State of Agency Banking in Nigeria led by AMMBAN; Goodwill messages from leading institutions and industry associations, and strategic networking with decision-makers across banking, fintech, regulation, media, and innovation ecosystems
PAFON 3.0 is expected to attract C-suite executives, startup founders, regulators, investors, digital payment operators, development institutions, policymakers, and professionals seeking to understand where Nigeria’s payment future is heading.
Participation
Participation is free.
The application deadline for the fifth edition of the MTN Media Innovation Programme (MIP) has been extended to April 25, 2026, organisers have announced.
MTN Nigeria Media Innovation Programme
The extension offers additional time for qualified media professionals and digital content creators across Nigeria to apply for the fully funded programme aimed at advancing storytelling and media innovation.
The initiative is sponsored by MTN Nigeria in partnership with the School of Media and Communication, Pan-Atlantic University (PAU).
Organisers said the 2026 cohort would admit 25 fellows, an increase from the previous 20, in line with MTN Nigeria’s 25th anniversary and its continued commitment to strengthening the country’s media ecosystem.
Launched in 2022, the six-month certificate programme provides participants with training in media innovation, leadership and digital transformation.
It features academic sessions at PAU, industry engagements and an international study visit, including sessions at the University of Johannesburg.
According to the organisers, the programme has produced a growing network of alumni contributing to Nigeria’s media landscape through leadership roles, new media ventures and impactful storytelling.
The programme is open to practitioners across print, broadcast, digital and social media, with applicants expected to demonstrate a strong commitment to innovation and professional development.
Interested applicants can submit their entries through the School of Media and Communication website.
Shortlisted candidates will undergo a rigorous selection process, with successful applicants expected to commence the programme in May 2026.
Nigeria CommunicationsWeek reports that the initiative is part of broader efforts to equip media professionals with the skills needed to adapt to the evolving digital economy.
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