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Cyberextortion Pushes Sub-Saharan Businesses to the Brink

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Data leakages, insider threats, malicious emails and targeted attacks continue to seriously impact business security in Sub-Saharan Africa (SSA), yet only about a third (17) of Africa’s 54 countries have completed a national cybersecurity strategy.

This is according to the Impact of Cyberextortion on Africa report released by KnowBe4 and IDC in June 2022.

The report revealed a complex cybercrime landscape in SSA, with the top threats facing organisations in the region in 2022 identified as data leakage (61%), insider threats (43%); targeted attacks using phishing (37%); cloud-related attacks (34%); and ransomware attacks (30%).

The top five global threats are business email compromise, cloud misconfigurations, software supply chain attacks and non-compliance. Phishing or social engineering attacks remain the second most common type of cybercrime and are evolving in terms of technique and success rates.

These challenges are influencing security strategy for organisations going forward with 43% focusing on security for cloud migration, 40% on strengthening secured access for a distributed workforce, and 36% focused on strengthening customer trust in digital services.

According to research these threats are compounded by budget constraints and that nearly 60% of SSA organisations plan to increase connectivity and IOT use cases over the next 12 months.

Growing investments into cloud, Internet of Things (IOT), connectivity and digital solutions increase the risks alongside the digital benefits, the company and research organisation said.

They stated: “The volume of threats facing organisations in Africa has grown exponentially over the past few years and there is a clearly visible linear relationship between the continent’s gross domestic product (GDP) and cybercrime – as one increases, so does the other, yet only about a third (17) of Africa’s 54 countries have completed a national cybersecurity strategy. This opens up the threat landscape considerably and puts organisations at greater risk.”

Data security maturity

According to the report, 56% of organisations in SSA are in the first two stages of data security maturity which means that many are still struggling to find their security footing in this shifting landscape.

“A lot like trying to find balance in the middle of an earthquake, cybersecurity threats are keeping decision makers and security teams off balance, particularly in light of skill-shortages, budgets and increased regulatory complexity,” the research added.

Anna Collard, SVP Content Strategy & Evangelist at KnowBe4 Africa, said, “Chief Information Security Officers (CISOs) are struggling to find competent staff that can handle the security alerts they receive while also keeping up with data protection regulations, and building networks capable of withstanding the cyberthreats.

In addition, one out of every three companies believes that there is insufficient integration between security and IT teams with 30% saying that hiring and retaining security skills is a challenge.”

Cyberextortion is lucrative. And cybercriminals don’t expect much retaliation from African states, Collard continued.

“This means it is unlikely to stop and very likely to become even more prevalent on the continent. Organisations have to focus on security investments and strategies that will allow to combat this threat with more agility and resilience.

“This means prioritising a defence in depth model with cloud security; privacy and compliance; choosing the right security service providers and building a security culture among both decision makers and employees.”


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E-Business

Senate Passes Bill to Re-enact NIMC Act

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The Senate has passed a bill, seeking to repeal and re-enact the National Identity Management Commission (NIMC) Act.

Senate Passes Bill to Re-enact NIMC Act

This followed adoption of report of Committee on National Identity Card and Population at plenary on Wednesday.

The report was presented by Senator Victor Umeh (LP-Anambra), chairman of the committee.

Senator Umeh in his presentation said the bill sought to provide for the establishment of a national identity database and the National Identity Management Commission.

According to him,the agency will be charged with responsibilities for maintenance of national database, the registration of individuals and the issuance of identity credentials.

He said the bill would lead to the creation of national identity database to source business biometric and empower NIMC to issue regulations and guidelines for implementation of the act and other related matters.

He said the bill sought to strengthen the legal framework of national and digital identity, hereby creating an optimal foundational identification ecosystem that fosters inclusion, universal coverage, and accessibility.

Senator Umeh said the act would establish a harmonious foundational identity system that is governed by a less restrictive, less cumbersome, non-discriminatory, non-punitive data protection, cost-effective, and compliance with global borders.

Senator Umeh said the bill, when passed into law, would address the challenges and limitations of national Identity management commission Act 2007, repeal it, and then close the gap of incomplete and inaccurate national identity database, provide efficient governance and service delivery.

He said the bill received overwhelming support from stakeholders at the public hearing due to the need to implement the long-awaited database system.

 


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World Bank Expresses Concern over Nigeria’s Poor Data, Statistics Quality

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The World Bank has expressed concern over Nigeria’s poor statistical performance, noting that the country lags behind its aspirational peers such as Mexico, Colombia, South Africa and Brazil.

World Bank Expresses Concern over Nigeria’s Poor Data, Statistics Quality

Mrs. Julie Osagie-Jacobs, director, Information and Public Relations, Ministry of Budget and Economic Planning, stated this in a statement after a courtesy visit to Senator Abubakar Bagudu, minister of Budget and Economic Planning, by a delegation from the World Bank led by Ndiame Diop, country director; and Mr Johan Mistiaen, practice mfor West and Central Africa, on Wednesday.

In his presentation titled “Next Level Statistics to Support Nigeria’s Reform and Growth Agenda,” Mistiaen stated that Nigeria’s statistical system was not on par with those of its developmental counterparts.

He advised that an annual investment of between $10m and $15m in the country’s statistical infrastructure would significantly improve performance and align Nigeria with its peers.

The statement read in part, “Earlier, Mr. Johan Mistiaen in his presentation on the next level statistics to support Nigeria’s reform and growth agenda, observed that the country’s statistical performance was not at par with its aspirational peers as Mexico, Colombia, South Africa and Brazil.

“He suggested that investing about $10-15m annually into the country’s statistical system can raise performance to that of its aspirational peers.”

Responding, Bagudu assured that the Federal Government would continue to guarantee the independence of the National Bureau of Statistics.

He commended the Bureau for consistently releasing credible and methodical data that have been relied upon by reputable international organisations.

The minister stressed that there would be no government interference in the operations of the NBS.


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FG Plans to Link Social Register to NIN for Humanitarian Crisis

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Federal government has disclosed that efforts are ongoing to link the National Social Register (NSR) to the National Identity Numbers (NIN).

FG Plans to Link Social Register to NIN for Humanitarian Crisis

Prof. Nentawe Yilwatda, minister of Humanitarian Affairs and Poverty Reduction, explained that the linked data would assist the country to anticipate crises, mobilize resources faster, and ensure aid reaches those who need it the most.

He said harnessing data would save the country and relevant stakeholders the stress and bottlenecks of outdated processes.

He also identified bureaucratic crisis as the biggest crisis in the humanitarian space which stalls responses to humanitarian issues.

Speaking in Abuja on Tuesday at the National Humanitarian Roundtable programme, the minister said: “People are traumatized by climate change, security threats and economic shock across the country and in the midst of these, we have limited funding.

“The biggest crisis we have is not just the people being killed, the crisis we have is a bureaucratic crisis that does not respond to a humanitarian crisis. Every delay in decision making, every inefficiency in coordination, every shortfall in funding, costs the life of people.

“They say knowledge is power, but knowledge can be destructive too. It can only be power if we use it effectively. By leveraging data and technology, we can anticipate crises; we can mobilize resources faster and ensure aid reaches those who are in need the most and without the bottleneck of outdated processes.

“We are linking the social register to national identity numbers and geotagging all homes of those who are vulnerable across the country so that if there’s any crisis, we don’t need to begin to walk around communities and taking names and asking the States Emergency Management Agency and the National Emergency Management Agency (NEMA) for data.


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