E-Business
Cyber Security: Aligning Nigeria With Rest Of The World

Top cyber threats listed by the United State’s Federal Bureau of Investigation (FBI) are hacktivism, crime, insider, espionage, terrorism and warfare. The world is no longer witnessing an era of changes; it is actually the change of an era, as security becomes cyber security.
Internet of things has become the Internet of bad things, the Internet of threat, and the Internet of everything.
What was seen as emerging threats on Windows are now targeting Android devices, turning mobile security into a high priority.
All infrastructures that are widely used are inherently vulnerable.
Cyberspace has been declared as the fifth territory of war, as the next 9/11 will most likely not happen physically but it will only involve a keyboard on the other side of the world.
There is a lot of work to do but not enough people: there are 1 million unfilled jobs worldwide in the cyber security industry.
What is the state of Nigeria’s preparedness for cyber threats? Is the country putting in place right policies and required infrastructure to align itself with the rest of the world?
These and other questions were analyzed at the ISACA 7th Annual International Conference hosted by its Abuja chapter recently.
While welcoming the attendees to the event, Chimenka Ezeribe, chairman of the conference announced that the theme of the conference, “Cyber security: Aligning Nigeria with the rest of the world”, was adopted with a view to considering the pros and cons of cyber security situation in Nigeria, and other parts of the world, and to provide a way for compliance to international standards and best practices.
Opeyemi Onifade, president and board chairman, ISACA Abuja, explained that Nigeria as a member of the global society is insulated from the opportunities and threats of globalization.
“As the use of IT becomes pervasive and more and more organizations in Nigeria leverage on the Internet to transact and interact with citizens, residents, customers, employees, suppliers and partners, it has become imperative to address our collective capacity to respond to the inevitability of cyber threats, especially Advanced Persistent Threats, APT,” he said.
He admonished the country, saying, “We need to understand that we cannot succeed by accident. The cyberspace is now recognized as the fifth domain of warfare in addition to land, air, sea and space. Unfortunately in Nigeria, our cyberspace domain is still a neglected and unprotected territory whereas we have come to depend so much on mobile telecommunications, electronic banking and e-commerce for our socio-economic for survival.”
Basil Udotai, managing partner, Technology Advisors and a foremost ICT lawyer, spoke on the duties of financial institutions in combating cybercrime.
According to him, Section 19 of the new cyber law prohibits financial institutions to give posting and authorizing access to any single employee while section 20 punishes fraudulent issuance of e-instructions.
He said Section 30 says that any person who manipulates an ATM machine or POS with the intention of defrauding commits an offence.
Also, section 35 deals with sales and purchase of another person’s card; under section 36 any person who with intent to defraud uses any device or attachment email or obtain information of a cardholder commits an offence.
Udotai also revealed that the new law frowns at not disclosure of cyber threat.
According to him, reporting cases of cyber threat is mandatory.
Section 21 of the new law says any person or institution, which operates a computer system or a network, whether public or private, must immediately inform the National Computer Emergency Response Team (CERT) Coordination Center of any attacks, intrusions and other disruptions liable to hinder the functioning of another computer system or network, so that the National CERT can take the necessary measures to tackle the issues.
“Any person or institution, who fails to report any such incident to the National CERT within 7 days of its occurrence, commits an offence and shall be liable to denial of internet services. Such persons or institution shall in addition, pay a mandatory fine of N2,000,000.00 into the National Cyber Security Fund”.
He said that the Cybercrime Act, though long in coming and beset with certain challenging components, may be applied to effective tackle Nigeria’s cybercrime and cyber security challenges.
However, the key players; ONSA and the OAGF, working with stakeholders, should make deliberate effort to make this a reality
Taiye Lambo, chief information security officer, Office of Information Security City of Atlanta, United State of America, spoke about the critical success factors in aligning Nigeria with global best practices. He argued that there must be visible support and commitment from top management; which he termed a top down approach.
He said institution’s information security policies, objectives and activities must reflect business objectives and there is an approach to implementing information security that is consistent with organizational culture must be put in place.
He said a good understanding of the security requirements, risk assessment and risk management and distribution of guidance on information security policy and standards to all employees and contractors are very critical.
Besides, he recommended a comprehensive and balanced system of measurement, which is used to evaluate performance in information security management and feedback suggestions for improvement.
In his contribution, Iyke Ezeugo, a business intelligence expert revealed that businesses in the country are under pressure to cope with new business trends, challenges and opportunities.
According to him, they need to deal effectively with the emerging big data – transforming the raw data into meaningful and useful information.
They require capacity for interpreting large amounts of unstructured data to help identify, develop and otherwise create new strategic business opportunities.
Osioke Ojior, NIBSS’s chief risk officer, said risk management is a comprehensive process that requires NIBSS to frame risk (that is establish the context for risk-based decisions), assess risk, respond to risk once determined, and monitor risk on an ongoing basis using effective organizational communications and a feedback loop for continuous improvement in the risk-related activities of organizations.
He explained that risk framing produces a risk management strategy that addresses how NIBSS intends to assess, respond and monitor risk – making explicit and transparent the risk perceptions that organizations routinely use to make investment and operational decisions.
According to him, risk assessment identifies threats to operations, assets, individuals or threats directed through the organization or industry against other organizations or the nation.
He averred that risk could also be internal and external vulnerabilities to the payment system, the harm (i.e., consequences and impact) to the payment system that may occur given the potential for threats exploiting vulnerabilities; and the likelihood that harm will occur.
The result is a determination of risk (i.e., the degree of harm and likelihood of harm occurring).
He explained that risk response provides a consistent, organization-wide, response to risk in accordance with the organizational risk frame by developing alternative courses of action for responding to risk; evaluating the alternative courses of action; determining appropriate courses of action consistent with organizational risk tolerance and implementing risk responses based on selected courses of action.
Professor Daniel Okunbor, University of Abuja, in his paper disclosed that the rising usage of social media in Africa has serious security implications.
He argued thatthat Africa caught on social media much quickly than she has been with so many other modem technologies is clearly not a surprise.
Social media penetration in Africa could attributed be largely to the relative cost of the technologies, easy of operations and availability of relevant applications.
He explained that social media platforms are increasingly being used by enterprises to engage with customers, build their brands and communicate information to the rest of the world.
However, social media for enterprises is not all about \’liking,\’ \’friending,\’ \’up-voting\’ or \’digging.\’ For organizations, there are real risks to using social media, ranging from damaging the brand to exposing proprietary information to inviting lawsuits.
E-Business
Jumia Nigeria Records Strong Q1 2026 Growth as Technology-Led Strategy Drives Market Expansion

Jumia has announced strong first-quarter 2026 performance results, with Nigeria emerging as one of the company’s standout growth markets across Africa, reinforcing the country’s position as a critical driver of the company’s long-term expansion strategy.

According to the company’s Q1 2026 financial results released May 7th, 2026, Nigeria recorded a 42% year-on-year increase in physical goods Gross Merchandise Value (GMV), making it one of Jumia’s strongest-performing markets during the period.
Commenting on the performance, Temidayo Ojo, CEO of Jumia Nigeria, said, “Nigeria continues to demonstrate the strength and resilience of its digital commerce ecosystem. The growth we recorded in Q1 reflects increasing consumer confidence, stronger engagement across our platform, and our continued investment in technology, logistics, and customer experience.”
“We are seeing more Nigerians embrace e-commerce not just for convenience, but as a trusted part of everyday life. Our focus remains on building a platform that is more accessible, more reliable, and more relevant to the evolving needs of Nigerian consumers and sellers,” Ojo further mentioned.
The company attributed its broader growth trajectory to disciplined execution, operational efficiency, and increased deployment of technology and AI-driven systems across its operations.
According to the report, Jumia leveraged artificial intelligence and automation across operations, finance, customer support, cybersecurity, seller management, logistics, and technology teams to improve service quality while reducing operational costs company-wide.
The company also noted that technology and content expenses declined year-on-year due to ongoing headcount optimisation and savings from renegotiated technology contracts, while operational leverage continued to improve. They further highlighted increased use of AI tools among its technology teams, alongside automation in call centres and operational systems, as part of efforts to scale sustainably while improving efficiency across African markets.
Across the platform, Jumia reported significant gains in customer retention and marketplace engagement. Quarterly Active Customers reached 2.5 million, while physical goods orders climbed to 5.9 million in Q1 2026.
The company also expanded usage beyond major urban centres, with 62% of total orders now coming from secondary cities and upcountry regions, emphasising the growing reach of digital commerce across Africa.
Despite global economic pressures, including rising memory chip and CPU prices and supply chain disruptions linked to ongoing Middle East conflicts, the company reaffirmed its path toward profitability. Jumia stated that it remains on track to achieve Adjusted EBITDA breakeven and positive cash flow in Q4 2026, with full-year profitability targeted for 2027.
E-Business
Lagos Captures over 6.4m Residents in LASRRA Database

Lagos State government has disclosed that more than 6.4 million residents have so far been captured under the Lagos State Residents Registration Agency (LASRRA) exercise as part of efforts to strengthen governance, planning and service delivery across the state.

Tobosun Alake, commissioner for Innovation, Science and Technology, revealed this during the ongoing ministerial press briefing marking the second-term anniversary of Governor Babajide Sanwo-Olu.
According to Alake, a total of 6,465,667 residents have been enrolled in the residency database, comprising 4,058,333 adults and 2,407,224 children.
The commissioner described the Lagos Identity Card Project, popularly known as LAG ID, as a major component of the state government’s strategy to improve governance efficiency and public service delivery under the THEMES development agenda.
He explained that the initiative was designed to provide government with a reliable and comprehensive population database capable of supporting planning, policy implementation and effective allocation of resources.
Alake noted that the agency operates an open framework that allows government institutions and private sector partners to independently participate in the system while leveraging a centralised data-sharing infrastructure.
According to him, the arrangement creates opportunities for partnerships, improved information management and enhanced value for both residents and businesses operating within Lagos.
The commissioner added that the initiative would further expand opportunities linked to the Lagos Residents Card and deepen the state’s digital transformation drive.
Speaking on security and digital enforcement, Alake disclosed that the state’s Safe City initiative had significantly increased digital traffic enforcement across Lagos.
He revealed that about 86,000 traffic violations were tracked within a few months, bringing the cumulative figure to about 737,000 recorded cases.
On technology-driven governance, the commissioner highlighted the role of Art and Technology Lagos, an annual conference organised by the Eko Innovation Centre in collaboration with the Lagos State Government.
According to him, the conference brings together technology stakeholders, policymakers, innovators and government officials to drive conversations around the development of a smarter and digitally connected Lagos.
Alake also stated that Lagos currently leads the country in data protection compliance, revealing that the state now has 109 certified data protection officers responsible for ensuring compliance and safeguarding residents’ data.
He explained that the government’s digital platforms now generate robust analytics that help authorities understand public interaction with online services.
“With technology, the state government has been able to know that an average 250,000 visit monthly,” he said.
“When we see our daily visitors on our online platform we are able to tell how many people are visiting our platforms, what they are clicking on and what they are using.
“Some of the services they are related with so we have backend analytics to tell us the number of visitors. I think the back end analytics is very robust and we respond to questions very quickly,” Alake added.
The commissioner further disclosed that the state had completed about 3,000 kilometres of fibre optic duct infrastructure extending to areas such as Alimosho, Ikorodu and Ibeju-Lekki.
He added that the government was planning to expand the infrastructure to 5,000 kilometres through partnerships with private sector investors.
E-Business
Firm Shares Insights into Ransomware Trends and Tactics @ International Anti-Ransomware Day-2026

On International Anti-Ransomware Day, May 12, Kaspersky shares a report with an overview of ransomware trends that marked 2025 and insights into what the threat landscape holds in 2026.

According to Kaspersky Security Network, in 2025 Latin America had the highest share of organisations with ransomware attacks detected (8.13%), followed by the Asia-Pacific region (7.89%), Africa (7.62%), Middle East (7.27%), the Commonwealth of Independent States (CIS, 5.91%) and Europe (3.82%).
The report highlights the rise of “encryption-less” extortion attacks, the use of post-quantum cryptography by ransomware groups, and the persistent use of Telegram channels by cybercriminals to distribute compromised data sets and credentials.
Despite a slight decline in the overall share of organisations attacked by ransomware in 2025 compared to 2024, users remain at significant risk as attackers industrialise their operations, automate intrusion methods, and increasingly focus on stealing and leaking sensitive data rather than simply encrypting systems.
One of the trends in 2025 is the continued rise of endpoint detection and response (EDR) “killers” – tools specifically designed to disable endpoint security solutions before executing the malware itself. EDR killers have become a standard component of attacks, which means more deliberate and methodical intrusions.
Researchers also noted the emergence of ransomware families adopting post-quantum cryptography standards – this was predicted by Kaspersky previously. The development signals a concerning shift toward encryption methods that could resist future quantum computing decryption attempts.
The role of Initial Access Brokers (IABs) – cybercriminal intermediaries that sell pre-compromised corporate access through underground forums and messaging platforms – is growing. RDWeb portals (websites through which devices can be controlled remotely) are increasingly targeted as ransomware groups continue to industrialise attacks through “Access-as-a-Service” operations. As a result, the barrier to launching ransomware attacks declines.
Telegram channels and dark web forums continuously function as platforms for the distribution and for the sale of compromised data sets and accesses including those that were obtained as a result of ransomware attacks.
A major underground forum, RAMP, which also functioned as a platform through which threat actors advertised their ransomware services and published service‑related updates, got seized by authorities in January 2026.
Another underground forum, LeakBase, where malicious actors distributed exfiltrated and compromised data, was seized in March 2026. However, while law enforcement agencies are actively shutting down dark web platforms and ransomware data leak sites, similar portals may appear over time.
Active groups
Among the most active ransomware groups in 2025 based on data leak sites, Kaspersky identified Qilin as the dominant ransomware-as-a-service (RaaS) operator following RansomHub’s seizure of operations. Clop ranked as the second most active group, with Akira in the third place.
While several major ransomware groups stopped operation in 2025, new actors emerge. Looking at 2026, the Gentlemen is one of the most important new ransomware actors due to the group’s rapid growth, structured operations, and increasing focus on data-centric extortion. The group may include attackers formerly associated with other major ransomware operations.
The Gentlemen exemplify a broader shift in the ransomware ecosystem away from chaotic, high-noise campaigns toward scalable, business-like extortion models focused primarily on stealing sensitive data and leveraging reputational and regulatory pressure rather than relying solely on disruptive file encryption.
“Ransomware has evolved into a highly organised ecosystem focused on monetising stolen data, disabling defences, and scaling attacks with business-like efficiency. Threat actors are quickly adapting, weaponising legitimate tools, exploiting remote access infrastructure, and even adopting post-quantum cryptography years earlier than many expected.
“The purpose of Anti-Ransomware Day is to raise global awareness about the threats posed by ransomware and to promote best practices for prevention and response, and we urge all users to stay secure, set up layered defences, invest in backups and boost cyberliteracy levels to counter attacks,” comments Fabio Assolini, Lead Security Researcher at Kaspersky GReAT.
On Anti-Ransomware Day and beyond, Kaspersky encourages organisations to follow these best practices to safeguard from ransomware:
- Enable ransomware protection for all endpoints. There is a free Kaspersky Anti-Ransomware Tool for Business that shields computers and servers from ransomware and other types of malware, prevents exploits and is compatible with already installed security solutions.
- Always keep software updated on all the devices you use to prevent attackers from exploiting vulnerabilities and infiltrating your network.
- Focus your defence strategy on detecting lateral movements and data exfiltration to the Internet. Pay special attention to outgoing traffic to detect cybercriminals’ connections to your network. Set up offline backups that intruders cannot tamper with. Make sure you can access them quickly when needed or in an emergency.
- Companies from non-industrial sector can protect themselves by installing anti-APT and EDR solutions that enable capabilities for advanced threat discovery and detection, investigation and timely remediation of incidents. Organizations can also provide their SOC teams with access to the latest threat intelligence and regularly upskill them with professional training.
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