News
Cybersecurity And Risk Mitigation
By Austin Okere
“Twitter hack: 130 accounts targeted in attack” was the screaming headline on the BBC’s website on July 17, 2020.
Two days earlier, the social media site had admitted a major cyber-attack of celebrity accounts. The security breach saw accounts including those of Barack Obama, Elon Musk, Kanye West and Bill Gates tweet a Bitcoin scam to millions of followers.
Several Bitcoin-related accounts began tweeting what appeared to be a simple Bitcoin scam, promising to “give back” to the community by doubling any Bitcoin sent to their address. Then, the apparent scam spread to mainstream celebrity accounts such as Kim Kardashian West and former vice-president Joe Biden, and those of corporations Apple and Uber.
Twitter is not the only high-profile company that has been hit. Just about every other company you can think about has suffered similar fate. The roll call of victims includes Rupert Murdock’s News Corp, Sony PlayStation Network, Government of turkey, Britain’s Serious Organized Crime Agency, and the CIA amongst others.
The story of hacking will not be complete without Anonymous; a sophisticated group of politically motivated hackers who have emerged since 2011. Anonymous are demonstrating how vulnerable companies that are charged with protecting our data are.
Anonymous hacked 485 Chinese government websites, some more than once, to protest the treatment of their citizens. Among their major successful hacks are Visa, MasterCard, Amazon, PayPal, PostFinance, Bank of America, and Sony Computer Entertainment. We are at the beginning of the mighty struggle for the internet with the aged old dilemma that pits the demands of security with the desires for freedom.
Cybercrime has now become so prevalent globally that there is hardly any organization that is yet to be hacked, and Nigeria is no exception. In fact, it is said that there two types of organizations, those that know they have been hacked and those that don’t. If in doubt, ask your customers, and they will have a bucketful of useful feedback for you.
The increasing trends in cyber security breaches are due to the following factors; the rise of Artificial Intelligence (AI), adoption of Internet of Things (IoT) – with over 25b devices forecasted to be connected by 2025, globalisation of cybercrime, the cybersecurity skills gap that continues to grow, Increased skill levels of attackers, increased use of the Public Cloud, increasing reliance on technology and digitisation – (now fuelled by the pandemic and working from home) and attackers risk/reward imbalance amongst others.
Polls at a recent cybersecurity webinar that I facilitated was very revealing:
- 54% of respondents said they had been hacked
- 31% said their company had been hacked
- 67% considered PEOPLE the weakest link in cybersecurity – way over Process, and Technology.
And yet we spend significantly more money on products and technology, with little emphasis on mass education.
Hiring the most accomplished CISA, however, will not do very much good if there is not a deliberate policy of self-awareness of all staff, especially during this period where there is an explosion in people working from home and connecting to enterprise servers through personal systems that could more easily be compromised.
Neither is buying the most expensive antivirus the magic wand. It is like having the best pizza toppings without the base bread. Or like having the best machine leaning algorithm without the Big Data that the system will use for pattern detections.
Cyber-attacks can have significant business impact including; loss of funds, theft of intellectual property, serious disruption to business, damage to reputation, loss of customer trust, huge regulatory fines, litigation costs and possible bankruptcy.
Risk mitigation against cybersecurity is most effective in its Dynamic Collaborative Form. Dynamic because it requires a shared Body of Knowledge that is consistently updated and available to all parties. Risk mitigation cannot be a competitive strategy for any organization; this notion could be quite illusory because the nature of cybercrime can be likened to an elephant. People at the side may think it is a wall, people at the trunk may think it is a snake. People at the tail may think in it is a monkey, and people at the leg may think it is a tree trunk.
As in the case of the elephant, it is only when you have curated the complete and accurate picture through which the breach can manifest that you can effectively deal with it or contain it.
This is why there is a need for constant collaboration and open and transparent reporting, similar to the way that the COVID Pandemic is being collectively monitored and reported globally. This is what helped to curb the chain email fraud also known as “419” and many malicious computer viruses unleashed to take over users’ systems.
Governments and private establishments can improve protection of critical infrastructure from cyber-attacks by following the following basis principles:
- First rule is not to assume anything is secure.
- Second is not to assume you will not be targeted.
- Third is to realize that modern systems have so many moving parts that you can’t really use a strategy of owning all of it, partnerships are essential.
- Nations have to build extreme levels of expertise across a wide threat surface. It’s no use protecting the databases while the CCTVs in the President’s office and residence have been compromised.
- Nations have to build cyber armies and cyber police to tackle external aggression, protect national assets and protect her citizens.
The most dangerous intruders are not the ones with guns but the ones with laptops. The terrorist killing people with bullets is “small fish” compared to the one that can make planes fall from sky or trains crash, or provoke a riot or influence an election without leaving any trace.
Cyber-attack is the new normal. Organizations and Technology Providers can mitigate these attacks by Perpetual state of vigilance. Every internet connected or smart device is a potential back door. From the internet connected TV to your webcam or printer. Even if nothing is stolen from you, your resources can be hijacked to attack others. Don’t assume you have enough expertise to be in constant state of vigilance all by yourself. Cyber products and cyber companies are also at risk.
If you are a transaction-oriented company then you have to be using Artificial Intelligence to watch out for fraudulent transactions. If you are a data company then you need to think of encrypting data at rest and in transit. Two factor authentications are a must for all sensitive access. Walling off all critical systems from the net as a last means of firewall is simply not a practical solution.
Are organizations and private establishments in Nigeria doing enough to collaborate on threats? I believe that we could do more.
There should be a national Security Operations Center (SOC) and threat Database where all incidents are reported. This center should also disseminate threats and analyze incidents to help others prevent similar infiltrations.
Many firms, especially banks, think it will impact their brand if they disclose vulnerabilities and attacks. The under reporting or cover up of breaches portends a vicious cycle of repeated unanticipated hacks, because you are inadvertently empowering the hackers to cause more damage to you by not reporting and exposing them and their future hacking plans.
Working in silos is not an option, because even when you believe you have secured your fortress; how do you guard against third parties connecting to your system through Application Programing Interfaces (APIs)? Take for instance the case of the N11b breach involving a major Nigerian Bank and a Fintech company, E-Transact.
According to a report by TechNext.com, this came to light following a petition that the company developed a solution which helped Smart micro Systems to defraud the bank. Have we thoroughly investigated and comprehensively documented the nature of the beach and the vulnerabilities exploited?
The demography and architype of the perpetrators? Any possible internal collaboration or any systems bugs? Answers to these question to the right quarters is invaluable in foiling future attacks. While this may not be the only major successful breach, the system is so opaque that you will struggle to find a database of cases to learn from and anticipate future attacks.
The major reasons why organizations generally do not report breaches are fear of litigation or regulatory action and loss of reputation. In tackling cybercrime, we all have to be on the same team!
According to iafrican.com, Nigeria is set to establish a Cyber Security Research Centre (CSRC) to combat cybercrime. This is in a bid to build capacity and co-ordinate incident management and contribute to knowledge generation in cyber security. According to reports, Nigeria is already working with Cyber Security Malaysia and the Canadian Cyber Incident Response Centre (CCIRC) on establishing the CSRC.
While these are useful initiatives, there is a need for organizations to come together to collaborate on researching past breaches and documenting them and comprehensively reporting current breaches to learn from them in order to prevent future attacks.
Private organizations such as the Risk Management Association of Nigeria (RIMAN) and the Bank Directors Association of Nigeria (BDAN) could be hardened and work closely with Government Agencies such as the National Information Technology Development Agency (NITDA) on existing and new initiatives towards combating Cybercrime.
Cybercrime and cybersecurity are real, but they are not rocket science and they are certainly no scarier than COVOD or EBOLA. If we could contain Ebola, Aids and 419 through collaboration, then surely, we can also contain cybercrime through Collaboration too; but we must be willing to take the painful steps that are necessary to safeguard ourselves and our organizations. Only then can we build the requisite trust in the system to continue to enjoy the fruits of digital transformation.
Austin Okere is the Founder of CWG Plc, the largest ICT Company on the Nigerian Stock Exchange & Entrepreneur in Residence at CBS, New York. Austin also serves on the Advisory Board of the Global Business School Network, and on the World Economic Forum Global Agenda Council on Innovation and Intrapreneurship. Austin now runs the Ausso Leadership Academy focused on Business and Entrepreneurial Mentorship.
Dr. Bosun Tijjani, minister of Communications, Innovation, and Digital Economy,has said that Nigeria’s Communications and Digital Economy sector attracted $191 million in foreign direct investment (FDI) in the first quarter of 2024, a ninefold increase from $22 million in the first quarter of 2023.
Bosun Tijani, Minister of Communications, Innovations and Digital Economy
Speaking on the massive growth the sector has witnessed under the administration of President Bola Ahmed Tinubu, Dr Tijjani revealed plans for a $2 billion initiative to deploy 90,000 kilometres of fibre optic infrastructure nationwide, beginning from the fourth quarter of 2025.
The Minister disclosed these during an interview for an upcoming State House documentary marking President Tinubu’s second anniversary.
Dr Tijani, who also highlighted the sector’s workforce development, driven by the 3 Million Technical Talent (3MTT) programme, revealed plans for a $2 billion initiative to deploy 90,000 kilometres of fibre optic infrastructure nationwide, starting in Q4 2025.
“These foundational reforms, coupled with advancements in Artificial Intelligence (AI) and the startup ecosystem, have positioned Nigeria as a global leader in the digital economy,” Tijani stated.
Comparing FDI inflows, Dr Tijjani said, “In Q1 2023, the sector had about $22 million; by Q1 2024, with this administration well underway, we reached $191 million. The trend continued in Q2, increasing from $25 million in 2023 to $114 million in 2024.”
According to the Minister, the 3MTT programme, launched in October 2023 to create a tech-savvy workforce, has already trained over 117,000 Nigerians in digital skills, surpassing its initial target of 30,000.
“By last year, we had already moved that to over 117,000. With an additional 35,000 in training, the programme is nearing 10% of its 3 million goal. And in the rest of the time in office, we hope to reach the 3 million,” he said.
A statement issued by Mr. Bayo Onanuga, special adviser to the President, on the soon to be aired interviewed with Dr. Tijjani conveyed the Minister’s celebrations of Nigeria’s ranking among the world’s top 60 countries for AI readiness and developing a homegrown large language model (LLM).
He also highlighted the launch of the AI Collective platform, supported by leading partners including Pierre Omidyar, Google, and Microsoft, to foster collaboration and innovation in artificial intelligence.
For the first time in the country, the ministry has funded 55 academic researchers to explore technology applications in agriculture, healthcare, and education.
In addition, ₦300 million was invested in 10 startups using AI and blockchain to enhance agricultural productivity.
On the Nigeria Startup House in San Francisco—an initiative targeting $5 billion in startup funding—Dr. Tijani said, “Our goal is to attract $5 billion in investments for Nigerian startups, supported by the Startup Pact and Trade Desk initiatives, which will connect local tech firms to global opportunities and government procurement.”
Tijani revealed that over 500 government technologists have been trained in AI and Digital Public Infrastructure (DPI), and the groundbreaking Digital Economy Bill has passed its first reading in the National Assembly.
To bridge rural connectivity gaps, the Minister projected that 7,000 telecom towers would be deployed, targeting 98% nationwide coverage, adding that the Federal Executive Council had already approved the project.
He described the progress on Right-of-Way issues as a game-changer for the country, revealing that 12 states in the federation have adopted zero-rated Right-of-Way policies.
According to him, these efforts will support the National Broadband Plan’s goal of achieving 90% penetration by 2025, up from 48% in 2024.
He projected the sector’s GDP contribution to rise from 16% to 22%, stating: “If a sector can increase its contribution by three to four per cent to the GDP, we’re about to see the economic growth we’ve not seen it before. Technology allows us to bridge the gap between governments and the people.”
Dr Tijani emphasised that the government is not chasing quick wins, hence its desire for long lasting reforms that will transform the nation’s economy for generations to come.
For the second time, the Office of the Attorney General of the Federation (AGF) and Minister of Justice has withdrawn the fiat donated to Femi Falana SAN, purporting to prosecute a case against Mr. Leo Stan Ekeh, Chairman of Zinox Technologies, and 12 others.
Femi Falana SAN,
The case, which has dragged on for many years, arose from a transaction about 13 years ago between Citadel Oracle Concept Limited, an Ibadan-based computer firm owned by an Enugu state indigene, Mr. Benjamin Joseph, and Technology Distributions Limited over the supply of computers to the Federal Inland Revenue Service (FIRS), a project in which Technology Distributions fully extended credit to Citadel and which has no bearing whatsoever with Zinox and its promoter, Mr. Leo Stan Ekeh.
In the latest development, the current AGF, Mr. Lateef Fagbemi SAN, in a letter dated 2nd May 2025, addressed to The Principal Partner, Falana and Falana Chambers, and signed by Mr. M. B. Abubakar, Director, Public Prosecutions of the Federation, directed Falana to withdraw Charge No: FCT/HC/CR/985/2024 (FRN. v. Leo Stan and 12 others), in the interest of justice; signifying that the fiat ought not to have been donated to him in the first place.
The letter titled: Withdrawal of Authorization Under Section 174 of the Constitution of the Federal Republic of Nigeria, 1999 as Amended, reads: “I am directed to write in reference to the above caption and to inform you that the Honourable Attorney General of the Federation and Minister of Justice in exercise of the power conferred upon him by section 174 of the Constitution of the Federal Republic of Nigeria, 1999, as amended and section 106 of the Administration of Criminal Justice Act, 2015, has withdrawn the fiat earlier granted to you dated 20th December 2023 to prosecute the case mentioned below at the expense of the nominal complainant Mr. Joseph Benjamin: FRG V. Chris Eze Ozims and 6 others, Charge No: CR/827/2013.
“You are, accordingly, requested to withdraw Charge No: FCT/HC/CR/985/2024 between FRN v. Leo Stan Ekeh and 12 others in the interest of justice.”
The Director, Public Prosecutions of the Federation, conveyed the message of the withdrawal to the chamber of Matthew Burkka & Co., chief counsel to the defendants, via a letter dated 6th May 2025. The letter read inter alia: “You may wish to refer to the above-mentioned subject matter and be informed that the office of the Honourable Attorney General of the Federation is in receipt of your letters dated 24th December, 2024, 27th March 2025 and 10th April 2025 respectively, requesting for the withdrawal of the fiat donated to Messrs. Femi Falana SAN dated 20th December 2023.
“I am to inform you that after a consideration of your request, the facts and circumstances of the case, the Honourable Attorney General of the Federation has withdrawn the fiat donated to Messrs. Femi Falana SAN, dated 20th December 2023 vide a letter dated 2nd May, 2025.”
It would be recalled that the former AGF and Minister of Justice, Mr. Abubakar Malami SAN, had in a letter dated 28th October 2022, withdrawn a similar fiat that was donated to Femi Falana, upon his own application, on the same set of facts and allegations. Based on the withdrawal, the charges filed by Falana, pursuant to the fiat, were struck out by two justices of the FCT High Court, Abuja (Honourable Justice Christopher O. Oba, and Honourable Justice Ade. S. Adepoju)
However, upon the appointment of the current AGF and Minister of Justice, Femi Falana, again applied and got a fiat with which he filed a new case: Charge No: FCT/HC/CR/985/2024 between FRN.v. Leo Stan and 12 others, still on the same set of facts and allegations. But upon a further review of the file at the Ministry of Justice, the AGF and Minister of Justice came to the conclusion that “in the interest of justice” the fiat and the Charges filed pursuant to it should be withdrawn.
Recall that this case and its adjunct suits had been dismissed three times by three different courts. The latest dismissal was on 20th March 2025 by Justice Akpan Okon Ebong of the FCT High Court who struck out the case filed by Mr. Femi Falana SAN, against the Chairman of Zinox Technologies, Mr. Leo Stan Ekeh, and 12 others, based on the fiat (that has now been withdrawn from him.)
The other defendants, who were discharged and acquitted upon the dismissal of the Charges by the courts, are Mr. Chris Eze Ozims, Oyebode Folashade, Charles Adigwe, Obilo Onuoha, Agartha Ukoha, Anya O. Anya, Femi Dosumu, Nnenna Kalu, Admas Digital Technologies Limited, Technology Distributions Limited and Zinox Technologies Limited.
The suit No. FCT/HC/CR/985/24 filed in November 2024 by Falana on behalf of his client, Benjamin Joseph, before the Federal High Court in Abuja for the same alleged diversion of N162,247,513.80 being payment for laptop supply contract at FIRS Headquarters was dismissed.
In the certified true copy of the judgment dated 20th March, 2025, Justice Ebong ruled as follows: “It is my conclusion based on the foregoing that this charge (No. FCT/HC/CR/985/2024, Federal Republic of Nigeria v Leo Stan Ekeh and 12 ORS) constitutes a gross abuse of court process and is liable to dismissal. I accordingly hereby dismiss it.”
Justice Ebong averred: “One intriguing aspect of this matter is that none of the law enforcement agencies involved in the investigation of the nominal complainant’s (Mr. Joseph) numerous petitions has found merit in any of his allegations against the defendants. When called upon before Senchi J. (Justice Danlami Z. Senchi) to prove his said allegations to the court, he failed to turn up in court. One then wonders on what premise he wants to maintain this campaign of persecution against the defendants.”
Previous judgments on the matter had established that rather than being the culprit, Ekeh and the 12 others were actually the victims of a failed money diversion scheme plotted by Mr. Joseph and Citadel.
The most recent charges filed by Falana on the basis of a fiat from the Attorney General was the third in a row as Mr. Joseph had earlier filed charge no.CR/469/2022, which was struck out by Honorable Justice Christopher O. Oba of the FCT High Court, by an order dated 8th November 2022.
Justice Oba ruled: “Upon hearing the counsel for both the Prosecution and the Defendants in court, the basis for which the law firm of Femi Falana filed the present charge is the authority gotten from the Attorney General of the Federation. The said authority has been withdrawn, there is legally no basis for the present charge before this court. Therefore, this charge is hereby struck out.”
Determined to push through his case, Mr Joseph filed the same charges before Honorable Justice Ade S. Adepoju of the FCT High Court, and the charges were, once again, struck out by the Honorable Court on 19th March 2024, with Honorable Justice Adepoju holding that: “This matter was brought in dead, extinct and should be confined into the dustbin of history…I hold that the instant suit is an abuse of the process of court and it is hereby struck out accordingly.”
It will be recalled that in his petition to the police in 2013, it was discovered by police authorities that Mr. Joseph provided false information to the police, prompting the Inspector General of Police to charge him for false information in charge no.CR/216/16.
In another case filed by the EFCC, at his instance against his partner, Princess Kama, in charge no. FCT/HC/CR/244/2018, Honorable Justice Danlami Z. Senchi of the FCT High Court (as he then was), dismissed as false all the allegations made by Benjamin Joseph, and imposed the sum of N20 million as damages against him for false petitioning in relation to these same allegations.
Judges of the Federal High Court and National Industrial Court in Nigeria have committed to upholding global digital rights standards by endorsing the Ikot Ekpene Declaration.
The move, aimed at strengthening justice in the digital age, was announced following a workshop on digital rights and cyber governance held in Akwa Ibom.
The workshop, titled “Upholding Justice in the Digital Age: Strengthening Judicial Capacity on Digital Rights and Cyber Governance,” was organized by Paradigm Initiative with support from the Kingdom of the Netherlands under the STANDS Project.
It brought together judicial leaders, officials from the National Human Rights Commission, and the National Judicial Institute to address legal gaps and enforcement challenges in the digital space.
Speaking at the event, Justice Salisu Garba Abdullahi, Administrator of the National Judicial Institute, emphasized the need for the judiciary to adapt to the evolving digital landscape while maintaining constitutional principles.
‘Gbenga Sesan, Executive Director of Paradigm Initiative, underscored the judiciary’s critical role in digital governance, noting that “the marriage between digital opportunities and economies is strengthened by judicial oversight.” He called on judges to recognize emerging digital challenges as technology advances.
Senior Officer for Anglophone West Africa, Khadijah El-Usman, also highlighted the importance of judicial engagement in digital rights protection, commending the Netherlands Embassy for supporting the initiative.
The Ikot Ekpene Declaration outlines key recommendations for judicial officers, including ensuring clarity in judicial reasoning, upholding human rights principles, expanding access to justice for vulnerable groups, and advancing the digitalization of the judiciary.
With growing concerns over privacy, cyber regulations, and digital manipulation, Nigerian judges are stepping up efforts to align justice delivery with global best practices, ensuring that digital rights remain protected within the framework of the law.
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