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Cybersecurity to Enter New Territory in 2017

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Raimund Genes, chief technology officer for Trend Micro says 2017 will take the cybersecurity industry into new territory after 2016’s threat landscape opened doors for cyber criminals to explore a wider range of attacks and attack surfaces.

Trend Micro predicts the general data protection regulation will cause extensive data management changes for companies around the world with new attack methods threatening corporations, expanding ransomware tactics, impacting more devices and cyber-propaganda swaying public opinion.

“Business e-mail compromise (BEC) and business process compromise will continue to grow as a cost-effective and relatively simple form of corporate extortion. A BEC attack might yield $140 000 by luring an innocent employee to transfer money to a criminal’s account. Alternatively, hacking directly into a financial transaction system, while requiring more work, will result in far greater financial windfalls for criminals – as much as $81 million,” reveals the latest Trend Micro threat report.

Kaspersky Lab predicts2017 will continue to see the commodification of financial attacks.

“The commodification of attacks along the lines of the 2016 SWIFT heists – with specialised resources being offered for sale in underground forums or through as-a-service schemes, will continue in 2017. As payment systems become increasingly popular and common, this will be matched by a greater criminal interest next year.”

As far as ransomware is concerned, Kaspersky Lab also anticipates the continuing rise of ransomware, but with the unlikely trust relationship between the victim and their attacker – based on the assumption that payment will result in the return of data.

Trend Micro says the Internet of things (IOT) and industrial Internet of things (IIOT) will play a larger role in targeted attacks in 2017. These attacks will capitalise upon the growing acceptance of connected devices by exploiting vulnerabilities and unsecured systems to disrupt business processes, as we saw with theTrojanMirai.

“While new ransomware saw an exponential increase in 2016, that growth is no longer sustainable, so attackers will find new ways to use existing malware families. Similarly, changes in IOT open new doors to go after additional attack surfaces, and software changes push criminals toward finding different types of flaws,” says Ed Cabrera, chief cybersecurity officer for Trend Micro.

According to PwC’s cybersecurity and privacy report, when it comes to authentication, the next 12 months will see organisations moving beyond passwords toward advanced authentication.

“Passwords are about as useful as 123456. This string of numbers is still the most commonly used password today. User disregard for strong password practices is one reason why many businesses are turning to advanced authentication technologies to add an extra layer of security and improve trust among customers and business partners. Forty-six percent of organisations that employ advanced authentication say it has made online transactions more secure, says the report.


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NDPC, 60 DPAs Collaborate on Enforcing Privacy Rights in the Use of Al

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Nigeria Data Protection Commission (NDPC) has joined sixty (60) other Data Protection Authorities (DPAs) in endorsing the “Joint Statement on Al-Generated Imagery and the Protection of Privacy.”

NDPC, 60 DPAs Collaborate on Enforcing Privacy Rights in the Use of Al

NDPC

The Joint Statement was coordinated by the International Enforcement Cooperation Working Group (IEWG) of the Global Privacy Assembly.

This underscores the growing concerns regarding the privacy risks posed by Artificial Intelligence tools capable of generating realistic images and videos of identifiable individuals.

The Joint Statement highlights concerns over the misuse of Al-powered tools to create non-consensual imagery, defamatory content, and other harmful materials, particularly affecting children and vulnerable groups.

It calls on organisations to implement strong safeguards, ensure transparency, provide effective content removal mechanisms, and comply fully with applicable data protection laws.

The current effort forms part of a continuum of steps being taken by Nigeria to ensure the responsible use of Al. It will be recalled that the Honourable Minister of Communications, Innovation and Digital Economy, Dr ‘Bosun Tijani, led the initiative for the development of the National Al Strategy.

The NDPC also issued the General Application and Implementation Directive (GAID), which, amongst others, mandates privacy by design and privacy by default in the development and deployment of Al tools.

The National Commissioner/CEO of the NDPC, Dr Vincent Olatunji, has directed that the Nigeria Data Protection Act (NDP Act) Compliance Audit Returns (CAR) by data controllers and processors of major importance will serve as a yardstick for monitoring and evaluating responsible use of Al for data processing in Nigeria.


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Jumia Tech Week 2026 Begins with Tech Deals on Smartphones, Electronics, and Everyday Technology

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Jumia Nigeria has announced the launch of Jumia Tech Week 2026, a two-week campaign offering customers access to discounted technology products across key categories, including smartphones, computing, home entertainment, and wearable devices.

Starting from March 2 to March 15, Jumia Nigeria’s Tech Week 2026 is themed ‘Tech Products for Less’ – a deliberate commitment by the e-commerce giant to drive down the cost of technology products for Nigerian consumers. The campaign offers significant price reductions across key product categories, enabling more Nigerians to access the devices they need at prices that reflect the company’s dedication to affordability and consumer value.

Jumia Tech Week will feature deals across a wide range of product categories, including mobile phones, computer systems and accessories, televisions and audio equipment, gaming products, home appliances, portable power solutions, health technology,, and wearable devices.

Customers will also have access to curated recommendations, including top smartphone deals, must-have accessories, gaming essentials, and home technology upgrades.

According to Temidayo Ojo, CEO of Jumia Nigeria, the campaign reflects Jumia’s broader commitment to making everyday technology more accessible to Nigerians.

“Technology has become an essential part of everyday life, and access to the right devices enables more people to participate fully in the digital economy,” said Ojo. “At Jumia, we remain focused on expanding access and improving the shopping experience as we continue to build Nigeria’s everyday retail destination.”

The campaign will include a range of customer engagement initiatives such as flash sales, brand days, anchor deals and interactive activities designed to enhance the online shopping experience.

Special highlight periods, described as Explosion Days, will take place on March 6 and March 13, featuring limited-time offers across selected technology categories. Customers will also be able to participate in interactive activities, including product-based games, treasure hunts,, and live shopping sessions during the campaign period.

The campaign will feature participation from leading brands including Oraimo, Silver Crest, Samsung, Ecoflow, Nivea and Aeon, offering customers a wide selection of technology, household and lifestyle products. Early access promotions already begun during the teaser period from February 16 to March 1, allowing customers to preview selected deals ahead of the official launch.

Jumia Tech Week forms part of the company’s broader strategy to expand e-commerce adoption by improving access to essential products and enhancing the customer experience across its platform. As Nigeria’s e-commerce market continues to grow, Jumia remains focused on strengthening its product assortment, logistics capabilities, and digital experience to serve customers better nationwide.

Customers can participate in the campaign by using the Jumia mobile app or visiting the Jumia website and following the conversation online using #JumiaTechWeek.

 


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House Queries NDIC: ₦5m Max Payout for Failed Bank Depositors

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Nigeria Deposit Insurance Corporation (NDIC) pays between ₦2 million and ₦5 million as deposit insurance to customers of liquidated banks, Managing Director Thompson Oludare Sunday told the House Committee on Insurance and Actuarial Matters during 2026 budget defence.

House Queries NDIC: ₦5m Max Payout for Failed Bank Depositors

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House Spokesperson Akin Rotimi Jr sought details on depositor entitlements, citing Heritage Bank’s June 2024 collapse and public concerns over financial confidence.

Sunday explained NDIC’s mandate: banks pay risk-based premiums (now under 1%, down from 15/16 of 1%) to guarantee deposits. Coverage is ₦5 million for deposit money banks, primary mortgage banks (PMBs), and microfinance banks (MMOs); ₦2 million for other financial institutions.

Using BVN, NDIC auto-pays guaranteed sums without visits for amounts up to the limit. For Heritage, post-revocation, NDIC liquidated assets—selling buildings, recovering loans, realizing investments—and paid a second ₦24.63 billion dividend on January 6.

“Anything above ₦5 million or ₦2 million depends on recoveries,” Sunday said, noting ongoing asset sales and debt chases.

Committee Chairman Ahmed Jaha Babawo commended the clarity, noting the limit rose from ₦500,000 to ₦5 million recently. Over 90% of Heritage depositors got insured sums in under four days, meeting International Resolution Deposit (IRD) standards.

Babawo added liquidation dividends would be discussed in executive session.


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