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ConnectNigeria Panelists Urge SMEs to Leverage Mobile Money, eCommerce

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(L-r): Femi George, data platform lead, Microsoft Nigeria, Ayodeji Mebude, head of Channels, Union Bank of Nigeria, Mike Ogbalu, managing director, FirstMonie, Emeka Okafor, managing director, Connectnigeria.com, Osah, head, Lagos Region, SMEs Group at Bank of Industry (BoI) Ayodele Olojede, head, Small Business Group, Skye Bank and Omotosho Oluwaseun of Etisalat, during Connectnigeria.com e-business fair 2015 held in Lagos at the weekend.
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It is an obvious situation that the Small and Medium Enterprises (SMEs) are confronted with several challenges which hamper their growth and the nation’s economic development.

Chiefly among the challenges that need to be addressed immediately include finding solutions to the high cost of doing business occasioned by poor infrastructure (power, roads, water), multiple taxation, high cost of legal documentation of credit facilities at both the states Lands Registries and the Corporate Affairs Commission (CAC); inadequate capacity building on the part of the SMEs in the areas of entrepreneurship, and skills acquisition, resulting in the perception of the sector as high risk and poor attitude to loan repayment by borrowers in the sector.

With these in mind, Connectnigeria.com recently organized an e-Business Fair for SME owner to engage face-t-face with players in the financial, e-commerce, and telecommunication sector, and to seek palliatives to the challenges.

Speaking during a panel discussion at the Fair, Mr. Obaro Osah, head, Lagos Region, SMEs Group at Bank of Industry (BoI) said that the Bank has ben playing critical role by providing grounds for small businesses financing.

He said that the Bank has made the process of accessing funds very easy by reducing the processes to three easy activities to apply for funding now, giving every Nigerian access to funding for business.

According to him, most startups are faced with the challenge of penning down marketable business proposal.

In lieu of that, BOI entered into partnership with 232 Business Development Support Partners (BDSPs) to help the entrepreneurs in drafting presentable proposals to banks for grants or loans.

He also urged participants and other startups to embrace cashless as a means of reducing risks associated with carrying cash around, and means of packaging their activities to partake in the formal sector of the economy.

Also speaking, Mr. Mike Ogbalu, managing director, FirstMonie, the FirstBank mobile money services platform, said that they have been driving innovative mobile payment systems and commitment to continuously deliver innovative products and solutions, part of which includes enhancing the robustness of its mobile banking and mobile payments platforms.

Ogbalu while encouraging participants at the Forum to join other 2.4 million FirstMonie subscribers who enjoy services dispatched through more than 13,000 agents it has established, he said the ultimate aim is to create more value for their customers.

Firstmonie is designed to enhance financial inclusion and cater for millions of Nigeria’s unbanked and the underbanked citizens, while aligning with the Central Bank of Nigeria’s policy to promote a cashless economy in Nigeria.

Ogbalu said that the Firstmonie solution was provided to entrench e-banking through the use of the mobile phone and to mitigate the challenges of banking services delivery to the vast unbanked market.

Nigeria CommunicationsWeek recalled that, in recognition of Firstmonie continued effort to drive financial inclusion, lead innovation in mobile payment systems and support the CBN cash-less policy, the platform was awarded the Best Mobile Money Operator in Nigeria by the EFInA Financial Inclusion Awards.

From Union Bank of Nigeria’s perspective, Mr. Ayodeji Mebude, head of Channels, said that the bank sees support for SMEs growth as critical in the life of a nation.

He said, this inspired the Union Bank and as part of its transformation programmes to launch a number of initiatives targeted at the group.

Apparently, Union Bank launched an enterprise hybrid account that gives growing businesses the flexibility of a current account with the benefits of a savings account.

It is suitable for businesses such as co-operative societies, trade associations, professional bodies, social clubs and Non-governmental organizations.

Some of the features of the UnionEnterprise Hybrid Account include: access to Union Bank’s array of value adding, e-banking products and services; a minimum daily opening and closing balance of N5, 000 only; lodgement of cheques/dividend warrants; as well as provisions for third party over-the-counter transactions across the Union Bank branch network.

Additionally, UnionEnterprise Hybrid Account holders will enjoy accrued interest on their account balance at the prevailing savings account rate, with zero commission on turn over.   

Representing Skye Bank, Ayodele Olojede, head, Small Business Group, said that as parts of its contribution towards the development of the real sector of the economy, Skye Bank Plc had introduced a number of products and incentives designed to help Small and Medium Scale Enterprises (SMEs) grow their businesses through access to finance and effective management of their financial resources.

Olojede said that the bank’s decision to support SMEs is based on the realisation that these small businesses are the major drivers of any economy worldwide.

She also hinted that the Bank will be making a major announcement in that regard soon.

And Femi George, data platform lead, Microsoft Nigeria, added that entrepreneurs ought to foster a culture of business innovation to survive in the present tech-world.

He said, Microsoft recognizes that, “In the digital age, technology has become the great equalizer, giving voice to your customers, partners, and employees and enabling your business to listen and become more responsive to customer needs and opportunities – using the connectedness of the cloud to respond with new business models, expanded channels and improved processes”.

He defined ‘The Microsoft Cloud’ as unique, as the companies that use it.

From a city that streamlines how its people travel through it, to a global outdoor apparel company that connects its teams around the world. See how this cloud has transformed some of the world’s greatest brands, George said urging the participants to leverage the opportunities in the Cloud.

Mr. Emeka Okafor, managing director, Connectnigeria.com, Organisers of the Forum, spoke to Nigeria CommunicationsWeek on the sideline of their decision to host the Forum with over 1000 SMEs in attendance.

He said, “Developing entrepreneurs is a continuous process in the life of a nation. What we hope people got out of the Forum is knowledge that will help them propel their businesses from, maybe, N1,000 to N10,000 daily or from a ten-man business to 100-man business. We looked for the professionals and those that have passed through some rough edges to share their experiences and inspire the young ones; telling them the steps to follow and others to avoid.

“Great countries do not depend on government to grow businesses; individuals do. Bill Gates of this world, and others did things that changed the world. Government may be doing enough in terms of policies, but which country has ever said that government is doing enough? They are individuals who go beyond current trends and break even.

“So, we put the Forum together because of love for the Country. We love this country; it is the only one we have and we want it to grow. We believe that now we are in the digital age, IT moves the world, we have very creative people; surprisingly, God has blessed this nation that close to 80% of the population are youths, therefore, if we are able to make them see potentials in what they do, the nation’s economy will blossom. Imagine where one million young people hired two million people each, we will wipe out unemployment”.

He described various eCommerce platforms introduced in the market as “fantastic; there is nowhere else we can go except up! Gone are the days were like ‘Nigerians are fraudulent, so we cannot do business with them’. They have seen the potentials of eCommerce with the ever growing population, smartphone users, internet growth and other developmental strides.

The fair also featured panel discussions that involved Supermart, Uber, Jovago, among others; exhibitions and networking.


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

E-Business

Kled AI, US Data Firm Blocks Nigeria over High ‘Fraudulent Activity’

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Kled AI, US-based developer, has announced the removal of its application from the Nigerian app store, alongside an IP restriction affecting the region, citing what it described as an “unmanageable level of fraudulent activity” on the platform.

Kled AI, US Data Firm Blocks Nigeria over High ‘Fraudulent Activity’

Kled is a data marketplace that rewards users for uploading photos, videos, and other multimodal content.

Avi Patel, 22-year-old founder, in his X handle, said the decision followed months of internal review, during which the startup found that a large share of uploads from Nigeria, including images, documents, and videos meant for AI training, were fake, duplicated, or generated by artificial intelligence.

Kled operates what it describes as an opt-in data marketplace, where users voluntarily upload personal content in exchange for payment, with the material later sold to AI labs for training models.

The startup said it has paid hundreds of thousands of users globally and processed over one billion data assets within four months of launch.

However, Patel said Nigeria stood out negatively.

According to him, the company reviewed a sample of 10 million uploads from the country and found that only a small fraction met quality standards required for AI training.

He added that the problem escalated when the platform was flooded with manipulated identity documents, including fake passports, during its verification process.

“As a startup, we cannot absorb the cost of filtering that level of bad data,” Patel said, noting that the company has now removed the app from Nigeria’s Apple App Store and imposed an IP ban on the region while it strengthens its fraud detection systems.

“On top of all of this, every time we make a post there is someone asking us to bring the region back within seconds. We hear you, but it’s gotten out of hand,” he added.

Despite the suspension, the company maintained that the move is temporary and not permanent.

“We’ve made this decision with great care. We love everyone who has genuinely supported Kled from Nigeria, and we hope to return when the time is right,” the statement concluded.

The decision has triggered backlash among Nigerian users, many of whom accuse the company of stereotyping and unfairly targeting the country.

Patel, however, insists the move is purely business-driven and not linked to race or nationality, stressing that Kled remains available in other African markets.

 

 

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Trusted Relationship and Exploits in Public-facing Applications Strengthen Position as the Main Attack Vectors

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Although the main initial vectors in 2025 remain similar to 2024, their combined share has grown to over 80%. Public-facing applications account for 43.7%, while trusted relationships have increased from 12.7% to 15.5%.

Valid accounts make up 25.4%. These insights are from the recent Global Report by Kaspersky Security Services.

The ‘Anatomy of a Cyber World’ is an in-depth global report based on incident data gathered in 2025 from Kaspersky Managed Detection and Response, Kaspersky Incident Response, Kaspersky Compromise Assessment and Kaspersky SOC Consulting.

It highlights the most common attacker tactics, techniques and tools, as well as the peculiarities of detected incidents and their distribution across regions and industries.

According to data derived from Kaspersky Incident Response, the top three initial attack vectors have remained relatively stable over the past seven years and have not changed significantly. Valid accounts and exploits in public-facing applications consistently represent the most common entry points.

The third position has periodically shifted: malicious emails, once a common initial vector, were replaced by trusted relationships, which first appeared in 2021 and entered the TOP-3 in 2023. By 2025, the distribution of main vectors looked as follows:

These attack vectors are often interconnected within the same chain, for example, organisations compromised through trusted relationships are frequently first breached via exploits in public-facing applications. Recent cases reveal attackers targeting service providers or IT integrators to then access their clients.

This problem is compounded by many small service providers lacking dedicated cybersecurity expertise and resources. As they manage accounting software or websites, breaches in these companies can lead to the compromise of their clients’ systems through exploited remote access.

When examining the investigated attacks in terms of duration and impact, the data shows that the majority (50.9%) of them were rapid in nature, typically lasting less than a day and most often resulting in file encryption.

A significant portion (33%) were long-lasting, with an average duration of 108 hours, during which attackers not only encrypted files but also installed persistence mechanisms, compromised Active Directory and caused data leakage.

The remaining 16.1% exhibited a hybrid pattern: they initially appeared as rapid attacks but involved a considerable delay between the initial breach and subsequent malicious activities, extending their overall duration to nearly 19 days.

“Given that attackers are increasingly orchestrating coordinated, multi-stage attacks, organisations cannot afford to rely on a reactive, “firefighting” approach. To counter this, a proactive security posture is essential, one that embeds real-time threat monitoring and continuous detection into everyday operations.

This enables defenders to respond swiftly to adversary activity before it escalates. Key measures for protecting digital assets against both rapid intrusions and long-term compromises include: timely patching, enforcement of multi-factor authentication and strict control of third-party access,” comments Konstantin Sapronov, Head of Global Emergency Response Team at Kaspersky.


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Meta Expands AI-Powered Age Assurance Measures to Strengthen Teen Safety Online

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Meta has announced new advancements in its age assurance technology as part of its ongoing efforts to create safer, age-appropriate experiences for young people across its platforms. Through a combination of AI, product design, and parental support tools, Meta continues to strengthen how it identifies teens, protects them by default, and supports families in navigating digital environments.

Meta Expands AI-Powered Age Assurance Measures to Strengthen Teen Safety Online

Meta

Strengthening underage enforcement with advanced AI

Meta requires users to be at least 13 years old to use its platforms and continues to invest in advanced technologies to uphold this policy at scale. As part of these efforts, the company is further enhancing its AI-driven systems to more effectively identify and take action on accounts that may belong to underage users.

These advancements include:

  • Contextual AI analysis across profiles: Meta’s systems analyse a wide range of signals—including posts, comments, bios and captions—to identify contextual indicators such as references to school environments or age-related milestones. This capability is being expanded across additional surfaces within Meta’s apps, strengthening enforcement in a more consistent and proactive way.

  • Advanced visual analysis technology: Meta is introducing AI that can interpret general age-related cues within photos and videos. This technology estimates age ranges based on broad characteristics and does not use facial recognition or identify individuals. When combined with behavioural and textual signals, it significantly enhances detection accuracy.

  • Expanded enforcement and verification processes: Accounts identified as potentially underage are subject to age verification requirements. Where age cannot be confirmed, accounts may be removed to maintain platform integrity.

  • Improved reporting and flagging tools: Meta is making it easier for people to report suspected underage accounts through simplified reporting flows available both in-app and via the Help Center, helping surface potential violations more efficiently.

  • AI-supported review systems: To improve consistency and speed, Meta is supplementing human review teams with AI models that apply standardised evaluation criteria to reports, enabling faster and more reliable enforcement outcomes.

  • Stronger circumvention safeguards: Meta is also enhancing its ability to detect and prevent repeat attempts by users who may try to bypass age restrictions by creating new accounts.

While many of these AI-driven systems are already in use globally, certain advanced capabilities continue to be rolled out progressively across additional markets.

Expanding Teen Account protections

Meta continues to expand its Teen Account framework, which is designed to provide built-in protections that limit unwanted contact and reduce exposure to inappropriate content. Since its introduction, hundreds of millions of teens have been enrolled in these protections across Instagram, Facebook, and Messenger.

These protections include automatically placing teens under 18 into age-appropriate experiences, including a default 13+ content setting designed to limit exposure to sensitive content.

Building on this progress, Meta is further scaling its proactive detection technology that identifies users who may be teens—even if they have entered an adult birthdate—and automatically places them into age-appropriate settings. This technology, already rolled out in several markets, is being expanded to additional regions, with the goal of making these protections available more broadly over time.

Supporting parents with tools and guidance

Meta continues to support parents as key partners in helping teens navigate online experiences safely. The company is introducing new notifications and guidance designed to help parents better understand how to verify their teen’s age and encourage open conversations about the importance of providing accurate information online.

These efforts build on existing resources available through Meta’s Family Center, which provides tools and educational materials to help families manage their digital experiences more effectively.

Meta also maintains age verification requirements for users who attempt to change their age in ways that may bypass protections, using a combination of ID verification and facial age estimation tools.

Advocating for industry-wide solutions

Meta continues to emphasise that age assurance is a complex, industry-wide challenge that requires broader collaboration. The company supports approaches where age verification is conducted at the operating system or app store level, enabling developers to deliver consistent, age-appropriate experiences across apps.

In addition to AI-based detection, Meta uses age estimation based on user activity and signals, as well as user reports, to help determine whether someone may be misrepresenting their age.

Meta believes that such an approach would help reduce fragmentation, improve consistency in protections, and provide a more privacy-preserving solution compared to requiring each individual app to implement separate systems.


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