Telecom
Cyber Security Myths You Must Forget, To Avoid Being Hacked
Cyber security threats are real. The cyber traitors penetrate every facet of the economy.
For instance, the Nigerian Inter-Bank Settlement System, NIBSS), disclosed that the banking industry lost the sum of N12.30 billion to various frauds between 2014 and 2017, with male accounting for 73 percent of the total fraud committed.
Mr Adebisi Shonubi, Managing Director of NIBBS, made the disclosure at the third Annual Banking Security Summit organized by MAXUT Consulting in partnership with OneSpan, a global data security company in Lagos, recently.
Specifically, he noted that 2014 fraud volume stood at 1,461, 10,743 (2015), 19,531 in 2016 and 25,043 in 2017.
Speaking on “Industry fraud overview with focus on mobile & payments related frauds,” Shonubi said the industry lost N6.22 billion in 2014 on attempted fraud value of N7.76 billion.
Thus, because of these trends companies are even falling prey to two myths that often cloud the judgement of business owners when it comes to Cyber-attacks.
Whilst they mostly think they are safe, the myths actually increase their chances of falling in the hands of cyber-criminals and hackers.
The first Cyber Security Myth is that many business owners still believe that all cyber attacks are targeted.
This means that unless they’re specifically selected as the prey of a hacking attack, they won’t fall victim.
It is not uncommon to see businesses that believe they will not be in the sights of cybercriminals, so aren’t at risk from suffering the negative effects of a cyber-attack.
You may even be one of such people with this belief, but if you ask the Western business leaders that were hit by NotPetya in 2017, they would definitely have stories to tell you that would change your mindset about cyber-attacks.
To quickly recap what NotPetya was about – it was a malware campaign launched against Ukraine by Russia, which quickly spread around the world, knocking businesses offline and doing vast amounts of damage to people who weren’t primary targets of the attack in the first place.
The original target of the attack was Ukrainian infrastructure, but it damaged — amongst other things — British advertising and pharmaceutical companies, as well as the shipping giant, Maersk!
The impact of NotPetya forced Maersk to reinstall 4,000 servers and over 45,000 PCs, with losses caused by serious business interruption estimated to amount to over $300m, despite the shipping firm never being the intended target of the attack.
Another example of how unsuspecting organizations can find themselves the victims of a major cyber attack is the incidence of WannaCry Ransomware.
The UK’s National Health Service found itself an unwitting victim of the campaign spread via an aggressive worm-like virus launched by North Korea in an effort to extort ransoms.
Despite the fact that you would wonder about the absurdity of attacking a body like NHS, yet they weren’t spared. This means that when it comes to cyber attacks, there is really no one that can be spared!
The second Cyber Security Myth is that some businesses don’t engage with cybersecurity because they believe it to be too complicated.
This is quite an irony as businesses usually have to deal with complicated issues every day, and it begs the question of why understanding cyber-security should be too complicated to figure out. Actually, it isn’t even complicated!
If your company can deal with complex data, millions of financial transactions, transportation of goods from one end to another, provision of services to diverse customers, or anything at all, cybersecurity is not something you should not be able to comprehend and deploy.
Even simple activities like ensuring systems and software are up to date can go a long way to protecting organizations from cyberattacks.
This approach could have helped organizations around the world avoid becoming victims of Cloud Hopper, a data-stealing espionage campaign, which Western authorities have attributed to China’s state-backed hacking group APT10.
Much of the campaign was based around distributing phishing emails containing malicious Word documents, which — when opened — ran macros that retrieve malware.
If the targeted organizations had applied relevant patches, the vulnerabilities exploited by the attackers wouldn’t have had any effect. And you can only blame this on poor cybersecurity or understanding of it because while the APT in APT10 stands for ‘Advanced Persistent Threat’, the attack wasn’t that advanced.
Dispelling these two cybersecurity myths from your mind can go a long way from keeping you safe against attacks that may put your business data and infrastructure at risk of loss or ransom.
To know about more myths that need to be forgotten, or get exposed to different ways to mitigate cybersecurity threats, make it a date to the Sidmach-Sophos Lunch and Learn event happening this February.
At the event, you will also learn about cost effective security dynamics, get introduced to tools that mitigate latest threats, have complete visibility and control of your IT Infrastructure.
To know how to dispel these myths REGISTER for Sophos/Sidmach Lunch & Learn. Email: corporate@sidmach.com
Attendance is strictly by registration!
Anambra State Government has begun a crackdown on illegal Internet Service Providers (ISPs) operating across the state, citing concerns over data breaches, poor service quality, and environmental defacement.
The enforcement, led by the Anambra State Physical Planning Board (ANSPPB) and the Anambra State ICT Agency, follows numerous complaints about unauthorized road excavations and the indiscriminate erection of poles, which deface infrastructure.
Investigations revealed that several ISPs were operating without approval or submitting deployment plans, a violation of regulations governing telecommunications infrastructure.
Authorities stress that the objective is not exclusion but compliance, ensuring only registered ISPs approved by the Nigeria Communications Commission (NCC) operate in the state.
Residents are urged to report unlicensed ISP activities via the dedicated hotline 02014143039.
Speaking on the development, Barr. Chike Maduekwe, Executive Chairman of ANSPPB, said: “This isn’t about shutting anyone out but about ensuring everyone follows the right process. If you want to offer internet services in Anambra, go through the proper channels. We will support those who comply, but we will not tolerate shortcuts.”
Similarly, Chukwuemeka Fred Agbata (CFA), Managing Director/CEO of the Anambra State ICT Agency, emphasized: “The internet is no longer a luxury—it’s a necessity. Governor Soludo has implemented a zero right of way policy to encourage players, but the first step for any ISP must be regulatory approval. The people of Anambra deserve services from providers they can trust.”
The Anambra State Government remains committed to fostering a safe, fair, and well-regulated digital landscape where residents can enjoy secure, high-quality internet services without fear of exploitation.
The enforcement drive signals a new era of accountability in the state’s fast-growing digital space.
In a significant step towards enhancing online safety for teenagers, Meta is proud to announce the launch of Teen Accounts on Instagram in Nigeria. This initiative is part of Meta’s broader commitment to ensuring safe, private, and positive online experiences for teens across Africa.
As more Nigerian teens join Instagram, it is crucial to prioritise their safety and privacy. Parents want to feel confident that their teens can use social media to connect with their friends and explore their interests, without having to worry about unsafe or inappropriate experiences.
Teen Accounts were designed to better support parents and give them peace of mind that their teens have the right protections in place. Teen Accounts have built-in protections that limit who can contact them and the content they see, and we’ll automatically place teens in Nigeria into Teen Accounts, and teens under 16 will need a parent’s permission to change any of these settings to be less strict.
Key protections offered with Teen Accounts include:
Private Accounts: Teen accounts are set to private by default and teens under 16 can only change this setting with parental guidance.
Messaging Restrictions: Teens can only receive messages from people they are already connected to.
Sensitive Content Control: Teen Accounts are automatically set to see less sensitive content in search results and recommended content in Explore, Feed and Reels.
Limited Interactions: Teens can only be tagged or mentioned by people they follow, and the strictest anti-bullying feature, Hidden Words, is enabled by default.
Time Limit Reminders: Notifications prompt teens to exit the app after 60 minutes of daily usage.
Sleep Mode: Enabled from 10 PM to 7 AM, this feature mutes notifications and sends automatic replies to DMs overnight.
“We’re excited to bring these features to Nigeria and help families navigate online spaces safely. Teen Accounts are designed to give parents peace of mind, allowing teens to connect with friends and explore interests without worrying about unsafe experiences,” said Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET) at Meta.
Since Meta started reimagining its apps for teens with Teen Accounts globally in September 2024, Meta has enrolled 54 million teens into Teen Accounts on Instagram, with 97% of those aged 13–15 remaining within the strict default protective settings.
While Teen Accounts come with built‑in safety protections, Meta understands many parents want to take a more active role in their teens’ online experiences. With the enhanced supervision tools, parents can:
See who their teen has interacted with: While message content remains private, parents can now view a list of people their teen has messaged over the past seven days.
Set daily time limits on Instagram: Parents can decide how long their teen can spend on the app each day. Once the limit is reached, Instagram will be inaccessible for the rest of the day.
Schedule downtime from Instagram: Parents can block access to Instagram during specific hours, like bedtime, with just a tap.
View the topics their teen is exploring: Parents can see which age-appropriate interest areas their teen is choosing to follow and engage with.
“Meta’s new policy aligns with several core priorities outlined in NITDA’s strategic roadmap, particularly concerning data privacy and protection for minors, now under the purview of the Nigerian Data Protection Commission, and child online protection and digital well-being, which we have collaboratively addressed with our sister agency, the Nigerian Communications Commission.
“NITDA has been a strong advocate for child online protection through various initiatives, including national strategies and proposed legislation, such as the Online Harms Protection Bill, which addresses age verification and parental controls.
“This policy reinforces the need for age-appropriate online experiences and promotes digital well-being.” commented, Barr. Emmanuel Edet – Director Regulations and Compliance Department, NITDA
To mark the launch, Meta hosted an exclusive event where parents, content creators, policy stakeholders, media and teens could engage on the available safety features and tools.
Meta remains committed to developing tools, resources and partnerships that protect teens and foster safer online experiences for families in Nigeria.
For more information about Teen Accounts and updates to parental supervision tools, visit here
Telecommunication companies have threatened to withdraw their Unstructured Supplementary Services Data (USSD), services from banks over what they called misinformation.
MTN Nigeria, Airtel, Globacom and 9Mobile- the telcos disclosed that the banks’ notice to their customers on the new billing system and airtime deductions for USSD services was misleading.
Also, Association of Licensed Telecom Operators of Nigeria (ALTON) also denied that the directive was from the Nigerian Communications Commission (NCC).
USSD is done via shortcodes on mobile phones and allows bank customers to make transactions in places with limited or no internet service.
Recall that banks earlier this week claimed that NCC has directed them to begin charging them from their airtime rather than from customers’ accounts.
The notice from the banks read in part: “In line with the directive of the Nigerian Communications Commission (NCC), please be informed that effective June 3, 2025, charges for USSD banking services will no longer be deducted from your bank account.
“Going forward, these charges will be deducted directly from your mobile airtime balance in accordance with the NCC’s End-User Billing (EUB) model.
“Under this new billing structure, each USSD session will attract a charge of ?6.98 per 120 seconds, which will be billed by your mobile network operator.
“You will receive a consent prompt at the start of each session, and airtime will only be deducted upon your confirmation and availability of the bank to fulfil this service.
“If you do not wish to continue using USSD banking under this new model, you may choose to discontinue use of the USSD channel.”
Reacting, ALTON, umbrella body of telecom operators in Nigeria, said the banks’ notice is a gross misinformation deliberately hatched to suit their selfish interests.
Hence they threatened to withdraw network support to the banks’ USSD services.
Engr Gbenga Adebayo, chairman of ALTON told Vanguard: ” I don’t understand why the banks are twisting agreements and distorting information just to favour their selfish interests. In the first place, the information wasn’t a directive from the NCC but a joint regulatory agreement between the NCC and the Central Bank of Nigeria, CBN witnessed by the telcos and the banks. The agreement was that if the banks finally cleared all USSD debts owed to the telcos by June 2, 2025, they are free to migrate to the end-user billing method, so long as the model of migration is transparent and agreed upon by the telcos.
“The reason for that clause was because the telcos insisted that the process of migration is such that will not allow a customer to be billed twice; in other words, that a subscriber would not have his airtime deducted and also have his or her money deducted for same services from his or her bank account.
” As we speak, some of the banks have cleared their debts, but the majority are yet to do so. So, even if all the modalities of migrating to end-user billing have been perfectly carried out, the implementation cannot even begin because the banks are yet to clear the USSD debt owed to the telcos.
“Our position now is that if that is the way the banks want to treat the agreement, we may withdraw support for their USSD services. It is not a must-have. They can do without it. But, they should clear the debts as agreed,” he added.
NOTAP Boss Laments Loss of IPR by Nigerian Researchers
NIMC Denies Blocking Police Commission from Verification Server
PalmPay Seeks $100m Funding Round
AFC Proffers Action Plans for Nigeria, Africa to Unlock $4trn from Investors to Grow Economy
Ayo Adepoju Joins Ecobank Board as Group Executive Director
E-Business2 days agoAXIAN Telecom Invests in Jumia Post-MTN Era
- E-Financial2 days ago
UBA Compiles with NCC, to Deduct USSD from Customers’ Accounts
E-Business2 days agoNigeria Strengthens Cybersecurity, Launches National Cleanup Plan
News2 days agoARCON to Crackdown on AI-Generated Fake Ads
News2 days agoFG, UNICEF Partner to Train 20m Youths on Digital Skills
Telecom2 days agoUnion Bank and PAPSS Revolutionize Cross-Border Payments
Telecom2 days agoMTN Nigeria Unveils 21 Days of Y’elloCare to Empower Communities through Digital Tools
General News2 days agoReport Shows AI Curiosity Among Children more than Doubled in 2025