Telecom
ESET Warns of Rising Online Scam Threat Amid EFCC’s Major Fraud Bust

ESET, a global leader in digital security, has provided insights on the rising threat of online scams.

In a significant operation earlier in the week, Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), conducted a large-scale raid on the Big Leaf Building in Lagos, identified as a key hub for fraudulent activities.
According to EFCC’s account, 792 individuals were arrested during the operation, including 148 Chinese and 40 Filipino nationals, all suspected of involvement in a global fraud network.
The suspects are alleged to have operated a complex scam ring that deceived victims through fraudulent romance offers and cryptocurrency investment schemes.
The Big Leaf Building served as the central location for a call center operation, primarily targeting individuals from the Americas and Europe.
The Nigerian accomplices-initiated contact with victims, while foreign nationals managed the deceptive schemes, coercing victims into transferring funds.
During the raid, the EFCC seized computers, mobile phones, and vehicles. Authorities are now collaborating with international law enforcement agencies to investigate potential connections to larger organized crime syndicates.
This operation represents a significant step in combatting the escalating threat of online fraud and transnational criminal activity.
In a media briefing held on Monday, December 16th, 2024, at the EFCC Lagos office, Wilson Uwujaren, the director of Public Affairs, revealed that Nigerian accomplices were recruited to target victims through phishing campaigns, utilizing platforms such as WhatsApp, Instagram, and Telegram.
Reacting to the development, Mr. Olufemi Ake, ESET’s managing director for West Africa, emphasized that fraudsters often use dating sites and social media to assume false identities, making it increasingly difficult to detect their deceptive tactics.
These criminals frequently employ psychological manipulation and advanced artificial intelligence to build trust with their victims, further complicating efforts to catch them.
Ake also noted that many of the Nigerian suspects involved in these fraudulent activities were unaware of the true identity of their employers, as they did not receive official letters of appointment or payments from corporate accounts.
This, he argued, highlights the need for employees to regularly vet their employers’ operations to avoid being ensnared in fraudulent schemes.
“As online criminals become more skilled at exploiting digital platforms, Ake advised individuals to remain cautious and informed to protect themselves from falling prey to increasingly sophisticated fraud tactics”, he said.
He recommended verifying identities through trusted channels, being skeptical of unsolicited investment opportunities, especially those involving cryptocurrencies, and ensuring that their devices are equipped with up-to-date cybersecurity applications. “If it seems too good to be true, it probably is,” Olufemi Ake concluded.
Telecom
NCC Asks Telcos to Make Budgetary Provisions for Cybersecurity

Nigerian Communications Commission (NCC) has directed telecommunications operators to make dedicated budgetary provisions for cybersecurity as part of efforts to strengthen the resilience of Nigeria’s communications infrastructure against the growing wave of cyber threats.

The directive forms part of the Commission’s Cyber Resilience Framework for the Nigerian Communications Sector (CRF-NCS), which introduces new governance, risk management and operational requirements aimed at safeguarding the country’s critical telecommunications infrastructure from increasingly sophisticated cyberattacks.
Under the framework, all licensed telecom operators are expected to establish formal cybersecurity governance structures, dedicate adequate financial resources to cyber resilience programmes, and integrate cybersecurity into their enterprise-wide risk management processes.
The Commission said operators must ensure cybersecurity investments are no longer treated as optional operational expenses but as strategic business priorities necessary to protect network infrastructure, customer information and the country’s digital economy.
According to the NCC, licensees are expected to allocate sufficient budgets to support cyber risk assessments, security technologies, staff training, incident response capabilities, continuous monitoring and compliance with regulatory requirements.
The framework also requires operators to designate senior executives responsible for cybersecurity oversight.
At the same time, boards of directors are expected to provide strategic direction and ensure adequate funding for cyber resilience initiatives.
Speaking on the need for a stronger cybersecurity regime during the unveiling of the framework, Abraham Oshadami, executive commissioner, Technical Services, NCC, said, “Given the increasing digitalisation of services, the rapid growth of data exchange, and the sophisticated nature of modern cyber threats, the need for a robust, adaptive and inclusive cybersecurity framework has become more urgent.”
He added, “Both state and non-state actors are targeting essential sectors—including ours—through coordinated cyber and physical attacks. These attacks frequently target control systems and data integrity, underscoring the critical risks posed to operational technology (OT), especially in our sector.”
“As cyber threats evolve, they endanger not only system performance but also human safety, amplifying the severity and consequences of disruptions to vital communications infrastructure. Cybersecurity now encompasses human safety and must address the real risk to people’s lives when a system is attacked or compromised.”
The Commission further stated that operators are required to develop comprehensive cybersecurity implementation plans, conduct periodic risk assessments, establish business continuity and disaster recovery procedures, and regularly test their cyber defence capabilities.
In addition, the framework makes cyber incident reporting compulsory. Licensees must inform the NCC’s CSIRT of any major cybersecurity breach within four hours of discovery, and provide a thorough post-incident analysis after mitigation is complete.
Telecom
Glo Leads Internet Growth Figures in Nigeria for May

Digital solution provider, Globacom has recorded the highest Internet subscriber growth among Nigeria’s major telecom companies for the month of May.

Data from the Nigerian Communications Commission, NCC, Nigeria’s total Internet users increased to 157 million in May, up from 154.3 million in April. That is a growth of 2.67 million users in one month.
Globacom led the market by adding about 1.2 million new Internet subscribers. This means Glo was responsible for almost half of all new Internet users in May.
The company’s subscriber base grew from 15.5 million in April to 16.8 million in May. Airtel came second with 1.07 million new users, moving from 54.8 million to 55.8 million. MTN added 382,894 users to reach 83.5 million.
T2 Mobile, formerly 9mobile, recorded no growth for the second month in a row. Its subscriber base remained at 802,534. This is despite its roaming agreement with MTN, which was approved almost a year ago to help T2 customers use MTN’s network in areas with poor coverage.
Industry experts say Glo’s strong growth is due to its ongoing network upgrade. Since last year, the company has been building new base stations, expanding its fibre network, and adding thousands of new 4G sites across cities and rural areas.
The upgrades have improved voice and data quality for customers, while Globacom remain committed to providing better network experience and affordable Internet services to more Nigerians.
Telecom
MTN Paid 600Bn in Taxes in H1 2026 – Kadri, MTN CFO

MTN Nigeria’s half-year 2026 performance reflects more than revenue growth, highlighting the wider economic activity generated through tax payments, infrastructure investment and shareholder returns.

Kadri, MTN CFO
Beyond its financial results, the telecommunications operator said it continues to channel substantial resources into expanding network infrastructure, meeting statutory obligations and delivering value across its stakeholder ecosystem.
The company disclosed that it paid more than ₦600 billion in taxes, customs duties, regulatory levies and other statutory obligations over the past year.
It also invested over ₦1.6 trillion in capital expenditure since January 2025 to expand network capacity and improve service quality, while declaring an interim dividend of ₦26 per share for shareholders.
Speaking on Arise News’ Global Business Report, MTN Nigeria’s Chief Financial Officer, Modupe Kadri, explained that the company’s earnings are shared across several stakeholders before returns reach investors. “For every one naira of revenue, about 24 kobo becomes profit.
“The government receives over ₦600 billion through taxes and levies, operating costs account for a significant portion of our revenue, and every participant within the ecosystem benefits from the value we create,” he said.
According to the Nigerian Communications Commission (NCC), telecommunications remains one of the largest contributors to Nigeria’s Gross Domestic Product, supporting digital financial services, education, healthcare, commerce and public services. Continued investment by operators has also been identified as critical to expanding broadband access and improving digital inclusion across the country.
Kadri noted that shareholder returns remain an important part of MTN’s capital allocation strategy, but stressed that they represent only one aspect of the company’s broader economic contribution.
“Even when we declare dividends, the government still receives withholding tax, while we continue investing heavily in our network because sustaining quality service requires ongoing capital commitment,” he said.
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