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Cyber Threats Wreaking Havoc on Enterprises

A consistent bombardment of unknown, targeted, and adaptive cyber threats are wreaking havoc in the enterprise and driving the expansion of Threat Intelligence Security Services (TISS)
Intelligence report showed that the TISS expansions are specifically designed to detect advanced persistent threats (APTs), advanced malware, and previously unidentified attacks.
Businesses and even the government sites in Nigeria are not spared in the worrisome attacks, especially with no cyber protection law to try offenders.
The bulk of knocks and tongue-lashing on the government by IT security experts within and outside the Country might have spurred the office of the National Security Adviser (NSA’s) National Cybersecurity Forum holding June 18 to 19, 2014 at Eko Hotel & Suites, Victoria Island in Lagos.
According to new research from International Data Corporation (IDC), worldwide threat intelligence security services spending will increase from $905.5 million in 2014 to more than $1.4 billion in 2018.
The TISS market is made up of several distinct facets, including data feeds and publications, consulting security services, and managed security services (MSS).
IDC has expanded its definition of the intelligence security services market to include what it calls iterative intelligence.
This iterative process learns from past experiences and mistakes, and incorporates this new knowledge at a more rapid pace, which often results in better long-term solutions.
“Threat intelligence is essentially a community activity,” said Christina Richmond, Program director, Security Services at IDC. “Attack information can come from many different sources, and iterative intelligence organizes this chaotic process of information sharing in order to help organizations in making future decisions.”
Additional findings from IDC’s forecast include that TISS consulting services make up roughly 22% of the 2013 TISS revenue.
Also, iterative intelligence must be available to small and medium-sized businesses as they see increased attacks like wire fraud and intellectual property theft.
Market observers also said that both professional and managed security services will continue to experience strong growth in the threat intelligence arena.
TISS offers customers deeper insights into global threat environments than they could achieve themselves.
Security services firms are creating alliances with universities and accreditation programs to find and develop security personnel.
Toheeb Agboola, chief technical officer, Information Technology Resources and Development Network (ITRDN), spoke to Nigeria CommunicationsWeek on cyber-security experience in Nigeria, presently.
He said, it is no news that Nigeria ranks top among countries with high exposure to cyber threat unlike in the past, the nation has graduated into the eye of the storm.
Agboola said, “Individuals and businesses need to exercise measures and adequate protection strategy and recovery plan while government must as a matter of national importance enforce proper national policy and action plan on protection from cyber threats, aggressions and crimes. I am aware NITDA inaugurated a team sometime ago in April to serve as a watch dog for cyber threat and online aggression against Nigeria and I believe it’s a good start but take note we are behind. So efforts should be able to speed up the process.
“Our exposure to attract cyber attacks is largely due to rising development of internet based transactions and activities as well as increasing broadband availability/internet penetration, implementation of cashless system, growing usage of mobile and smart devices and the fast growth of online ecommerce arena.
As more and more of our daily engagements, social interaction and business transaction continues to depend on online platforms, computers and internet, the risk of increasing cyber threat and warfare has become inevitable at the different levels of our national life and its imperative to institute a three phase model – Plan, Prevent and Protect – in the scheme of our national security plans.
“It is important to state that individuals, businesses and indeed the government are constantly at risk of cyber attacks and should take priority in taken concrete steps to mitigate and prevent such destructive potential before they ever materialize. Although our lackadaisical attitude and assumption that presupposes that we are not potential targets are major storming blocks for getting started on the right track”.
Agboola further warned that any businesses, individuals or government that use, produce, manage or collect important user or business data is at risk of cyber threats and a potential target.
He said every effort should be made to prevent, detect and address cyber issues as they before and while they occur, adding that cyber traitors are no respecters of developed country or developing nations as all are exposed in the global village era.
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Zinox Chairman Leo Stan Ekeh Donates State-of-the-Art Tech Experience Centre to Federal University Birnin Kebbi

Federal University Birnin Kebbi (FUB) received a significant boost in its quest to produce globally competitive graduates, following the donation of a multimillion-naira Tech Experience Centre by the Leo Stan Ekeh Foundation (LSEF).
The facility, donated by Mr. Leo Stan Ekeh, Chairman of Zinox Group and Founder of LSEF, was commissioned on his behalf by the President of the Nigeria Computer Society (NCS), Dr. Muhammad Sirajo Aliyu, FNCS.
The centre is equipped with the latest Zinox computers, powered by the iPower renewable energy suite, which features high-performance solar panels and certified lithium batteries. It is also connected to a 24-hour, non-disruptive satellite internet service powered by Starlink, a service that the LSEF has committed to funding for the next five years.
According to Mr. Ekeh, the Tech Experience Centre is dedicated to the use of students and knowledge workers at FUB, with the aim of equipping them with the digital skills and resources required to compete with their peers globally and contribute meaningfully to Nigeria’s economic development.
This centre is one of several cutting-edge technology hubs donated by the Leo Stan Ekeh Foundation to tertiary institutions across Nigeria. It supports the Federal Government’s vision to upgrade the nation’s higher institutions to world-class standards.
For over 25 years, Mr. Ekeh and the Zinox Group have consistently invested in promoting digital education by donating tech laboratories and innovation hubs. In recent years, the Foundation has delivered and equipped centres at St. Augustine University, Lagos, and Imo State University and refurbished older facilities it had donated in the past. According to Mr. Ekeh, the next phase will see the Foundation extend similar interventions to secondary schools across the country.
He called on politicians, government agencies, and wealthy Nigerians to intentionally invest in the nation’s education sector, stressing that a well-educated populace is the Foundation for national development.
Mr. Ekeh expressed his appreciation to the Chairman of the University Council, the council members, Vice Chancellor Professor Muhammad Zaiyan Umar, members of the University Management, staff, and students of FUB, as well as the Honourable Minister of Education, Dr. Tunji Alausa, for their support in accommodating the LSEF’s vision.
Speaking on behalf of the university, Professor Muhammad Zaiyan Umar, Vice Chancellor of FUB, expressed deep appreciation to Mr. Ekeh and the LSEF for the generous donation.
“This Tech Experience Centre will make a remarkable difference in the academic and research output of our students and staff. We are grateful for Mr. Ekeh’s vision, generosity, and long-standing contributions to this institution and to digital education in Nigeria. This facility is more than a building with computers; it is an investment in the future of our graduates and the growth of our nation.”
Speaking on the sidelines of the commissioning, Mr. Chimezie Orisakwe, Head of Corporate Communications for the Zinox Group, highlighted Mr. Ekeh’s sustained promotion of digital learning across Nigeria — from interventions in the media sector to landmark projects with the media, Independent National Electoral Commission (INEC), the National Population Commission (NPC), and others.
He also highlighted Mr. Ekeh’s reflection on the current state of Nigeria’s education sector, warning that many institutions, both public and private, face severe funding deficits. This, he noted, raises the risk of closures, which would deprive graduates of the enduring legacy of their alma maters.
To address these challenges, the Zinox Chairman proposed that the Federal Government adopt a college system and reclassify existing universities. He recommended granting approvals for specialized professional colleges affiliated with reputable universities, similar to the Lagos University Teaching Hospital (LUTH) model with the University of Lagos.
Ekeh emphasized that the quality of an institution’s academic content now matters more than its physical size. Those passionate about establishing tertiary institutions must be focused on their core mission, be willing to invest adequately, and possess the mental and financial capacity to sustain standards.
He further urged that educational institutions be regulated even more stringently than banks, given their central role in producing the human capital that drives both the public and private sectors.
“Educational institutions are not limited liability companies that can be liquidated at will. Their true profit is not in short-term returns but in the quality of graduates they produce, men and women who can lead this nation and give back to the institutions that shaped them,” Ekeh stated.
The donation to FUB is the latest in a long list of interventions by the Zinox Group to support Nigeria’s technological advancement. Through the Leo Stan Ekeh Foundation, the Group has also funded thousands of scholarships, donated modern digital learning facilities nationwide, extended non-interest loans to budding entrepreneurs, and supported churches, hospitals, and humanitarian causes.
News
No More Leaks: FIRS Slaps ₦5m Fine on Info Disclosure

Nigeria Revenue Service (NRS) Act has introduced strict penalties for the unauthorised disclosure of confidential information and documents by its staff, with offenders facing fines of up to N5 million, imprisonment for up to three years, or both.
The NRS Act is one of four bills recently signed into law by President Bola Tinubu, alongside the Nigeria Tax (Fair Taxation) Law, the Nigeria Tax Administration Law, and the Joint Revenue Board (Establishment) Law. The regulations will take effect on January 1, 2026.
In Part VI of the NRS Act, covering miscellaneous provisions, the law designates all internal records—including institutional information, memoranda, and communications—as confidential.
“Without prejudice to the provisions of any other Act concerning data privacy or data protection, institutional information or communication, all internal information, communications, documents or memoranda of the Service are confidential,” the law states.
It further warns that, “Except as otherwise provided under this Act, any other law or any enabling agreement or arrangement or as otherwise authorised by the Executive Chairman or management of the Service, any person who discloses or attempts to disclose institutional information, communication, document or memorandum of the Service is liable on conviction to a fine not exceeding N5,000,000 or imprisonment for a term not exceeding three years or both.”
The provision applies to all officials and individuals involved in the administration of the Act. The NRS also specified that business records, tax returns, notices, assessments, and documents relating to a person’s assets, liabilities, or profits must be “treated as secret.”
Exceptions to the confidentiality rule include disclosures authorised by the service, those mandated by court order, or situations where the information is needed for the enforcement of Nigeria’s tax laws.
The development follows a February 20, 2024, warning from the federal government cautioning civil servants in ministries, departments, and agencies (MDAs) against leaking sensitive documents to the public.
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FIRS Rolls out e-invoicing System for Large Corporate Taxpayers

The Federal Inland Revenue Service (FIRS) has launched a national electronic invoicing system, seen as a significant step toward digitising the country’s tax infrastructure and boosting compliance among large corporate taxpayers.
The system, known as the Merchant-Buyer Solution (MBS), officially went live on August 1 after a successful pilot phase that began in November 2024. It is being rolled out in phases, starting with companies that have an annual turnover of at least ₦5 billion. According to FIRS, these large taxpayers represent over 5,000 businesses nationwide.
More than 1,000 companies — roughly 20% of eligible firms — have already integrated with the platform, including telecoms giant MTN Nigeria, which became the first to transmit live electronic invoices to the tax authority. Other major players such as Huawei Nigeria and IHS Towers are completing their onboarding and are expected to go live in the coming days.
“The launch of the e-invoicing regime ushers in a new era of transparency, accuracy, and real-time monitoring of commercial transactions,” Dare Adekanmbi, who is the spokesperson for Zacch Adedeji, FIRS Chairman, said in a statement on Sunday.
The e-invoicing solution forms part of the agency’s broader Electronic Fiscal System (EFS), which is designed to ensure authenticity and completeness of invoice data and limit opportunities for tax evasion. It also aligns with Nigeria’s Revenue Services Reform Act — a legislative framework aimed at harmonising revenue collection and providing a single source of truth for government receipts.
The FIRS said it is working in collaboration with the National Information Technology Development Agency (NITDA) to incorporate system integrators and access point providers into the onboarding ecosystem. These providers are tasked with supporting the integration process and helping companies manage their transition onto the e-invoicing platform.
While the original deadline for onboarding was set for August 1, the tax agency has granted a three-month grace period to allow companies facing operational challenges to comply. The new deadline for mandatory integration is November 1, 2025.
“In the spirit of encouraging voluntary compliance, the FIRS management has graciously approved a three-month extension of the deadline,” the agency said. “We also acknowledge the genuine efforts of many taxpayers who strove to meet the 1st of August 2025 deadline but encountered operational constraints.”
The system will eventually be extended to medium and smaller enterprises, but for now, the focus remains on onboarding the largest players, who contribute a significant share of Nigeria’s corporate tax base.
Nigeria, Africa’s largest population, has been ramping up efforts to boost non-oil revenues amid volatile crude prices and growing fiscal pressures. Tax-to-GDP ratio remains among the lowest globally, estimated at just over 10%, according to official figures.
The FIRS has increasingly leaned on technology to expand the tax net and reduce leakages.
“The e-invoicing platform gives us real-time visibility into the business-to-business segment, which has historically been under-reported,” a senior FIRS official familiar with the rollout said, requesting anonymity because he was not authorized to speak publicly. “It significantly enhances our ability to track transactions and enforce compliance.”
To facilitate onboarding, the FIRS e-Invoicing Implementation Team is conducting webinars, workshops, and town hall sessions across the country, targeting tax consultants, financial controllers, and compliance officers within affected firms.
The Federal Government expects the digitisation effort to streamline tax administration, reduce disputes and simplify audit processes for both taxpayers and regulators.
The FIRS has not disclosed projected revenue gains from the e-invoicing rollout, but industry experts believe it could yield significant medium-term improvements in tax efficiency and administration.
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