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Experts at CyberXchange Conference Offer Solutions to Cyber Threats

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Information Technology (IT) experts have called for increased monitoring and evolution of human and technology deployed to manage information security as part of measures to curbing the increasing spate of cyberthreats in the country.

The Experts who decried the continuous rise in cyber attacks at the commencement of CyberXchange Conference 2016 in Lagos on Wednesday, called for increased awareness among Nigerians over such attacks.

According to them, most organisations are either ignorant of the cyber threats in their business environment, or have refused to implement the full software solution that would detect and prevent cyber attacks.

Inalegwu Alogwu, head of Innovations and Information Security at Interswitch, said that in the present day IT ecosystem, cyber breaches are mainly instigated by an insider (staff, contractors, etc.)

He categorised insider attacks into three: careless insider, exploited insider and malicious insider, adding that while organisations are investing in cyber security solutions, insider threats are on the increase.

To this end, he said, organisations should pay close attention to understanding and managing human elements associated with cyber security.

Alogwu added that information sharing among organisations, especially, those in the financial sector, is critical to mitigating coordinated attacks.

Nodding in agreement, Favour Femi-Oyewole, chief information security officer, Nigeria Stock Exchange (NSE), said that to successfully tackle cyber security related issues, organisation should focus on developing ‘human firewalls’.

She shared experts’ views that most organisations focus on security solutions, but continue to fail, for sheer reason they rely on data that is gathered after an attack rather than stopping the attack from occurring in the first place.

Human Firewalls, Femi-Oyewole said understands that Cyber Security must be addressed proactively with next generation continuous endpoint monitoring in order to identify, respond, contain and recover rapidly from advanced attacks.

She said that gesture was chief among reasons the NSE introduced Minimum Operating (security) Standards in 2014, “and the results positively impacting members of the NSE”.

Considering the need for long-term protection for investors and stakeholders in the capital market, in 2014, the Nigerian Stock Exchange (NSE) set Minimum Operating Standards (MOS) for its Dealing Members.

MOS cater for all three classes of Dealing Members (broker dealers, brokers and dealers) and address the five broad areas of manpower and equipment, organizational structure and governance, effective processes, global competitiveness and technology.

“The Minimum Operating Standards helps in enhancing regulations and build strong operational structure that would help mitigate risk in a sustainable manner. Therefore, organisations should focus on building human firewalls if they will stay ahead of cyber threats”, she added.

Check Point Software Technologies, a global cybersecurity vendor, providing industry-leading solutions on cyber attacks, recently raised the consciousness of Nigerians to the growing rate of global cyber attacks.

According to the software security solution vendor, first quarter 2016 analysis of the global threat index by Check Point Software Technologies, revealed deep disparities in the threat environments in Africa, and the potential for increased attacks as cyber-criminals now target mobile devices.

Analysing the current trend in cyber attacks at the end of the first quarter of 2016, Check Point found Nigeria was ranked16th highest country, that are vulnerable to cyber attacks, moving up two places from 18th position in the preceding quarter.

From the report, it was found that African nations are highly represented in the upper rankings of the index, and Nigeria was surpassed by a handful of other African countries, including Namibia and Malawi.

In her contribution, Wendy Cheshire, sales director at Control Risks, highlighted a need for organisations in Nigeria to recognise that securing their businesses from operational risks is a first priority for any management team.

She listed losses of life, intellectual property, physical assets and reputation as capable of devastating a business.

Cheshire, said, Companies can succeed in the face of cyber threats by constant monitoring and managing the consequences of changes in risk levels; secure the business at both an enterprise and local level and understand the business impact of risks and prepare contingency plans to reduce the impact of an event should it occur.


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E-Business

Report Shows Start-ups Fuel Innovations in Africa

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Bloomberg has released its second annual “25 African Startups to Watch” list, underscoring the growing influence of venture-backed innovation across the continent.

Published thursday, the list highlights companies building solutions in “environments where infrastructure or systems have failed to deliver.”

The featured start-ups build solutions to challenges such as accessing healthcare in Chad, moving goods in Kenya, securing loans in South Africa, and safeguarding borders in Nigeria.

Nigeria, South Africa and Kenya jointly lead with four companies each, reflecting the ongoing strength of Africa’s three most visible start-up ecosystems.

The 25 companies span 13 countries and sectors including healthcare, fintech, security, climate resilience, waste management, and transport.

Nigeria’s four startups are 10mg Health, Remedial Health, Sycamore and Terra Industries, covering areas from healthcare financing and pharmaceutical supply chain integrity to digital lending and defence technology.

South Africa’s contingent includes Omnisient, Amesect, AURA and Jem. Omnisient uses grocery purchase data and AI to extend credit to those outside traditional financial systems.

Kenya’s notable four include Zeraki, a school-data analytics platform partnering with Safaricom to reach secondary students across the country.

According to Bloomberg, a defining theme this year is the source of funding.

Nearly half of the total capital raised by these start-ups came from African investors, marking a shift from previous years when international capital predominantly drove early growth.

International backers such as 8VC, controlled by Palantir Technologies co-founder Joe Lonsdale, and Google continue to see value in investing in African companies, Bloomberg noted.

The report also highlights that start-ups across the continent almost doubled their debt fundraising in 2025, even as equity financing from venture capital firms declined.

Separately, the Start-up Ecosystem Report 2026 states that Kenya has overtaken Nigeria as Africa’s top startup investment destination, attracting $984 million in 2025.

Jennifer Zabasajja, Bloomberg Television’s chief Africa correspondent and anchor, highlighted the dual significance of the list, the variety of solutions being built and the growing role of African-sourced capital in backing them.

She noted that the list comes at a consequential moment, one shaped by global disruptions, from the conflict in Iran to sweeping cuts in US foreign healthcare assistance, that have made the case for African-owned capital more urgent than ever before.


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NDPC Raises Alarm: Fake News, Data Abuse Could Destroy Nigeria’s 2027 Elections

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Nigeria Data Protection Commission has warned that the growing misuse of personal data and digital platforms could undermine Nigeria’s democratic process ahead of the 2027 general elections.

NDPC Raises Alarm: Fake News, Data Abuse Could Destroy Nigeria’s 2027 Elections

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The warning was delivered during the 2026 Press Week organised by the FCT Council of the Nigeria Union of Journalists in Abuja.

Speaking at the event, Vincent Olatunji, national commissioner and chief executive officer,  NDPC, who was represented by Itunu Dosekun, head of Media Unit at the commission, said disinformation and unlawful exploitation of personal data posed serious threats to credible elections.

The event had the theme: “2027 Election: Defending Democracy in the Era of Disinformation.”

Dosekun said the struggle for credible elections was no longer confined to polling units, noting that digital platforms had become major channels for manipulated narratives, fake news, propaganda and AI-generated misinformation.

According to him, the rapid growth of social media platforms, messaging applications and data-driven political campaigns has created vulnerabilities capable of influencing voter perception and weakening public trust in democratic institutions.

He warned that the abuse of personal data for political profiling and psychological targeting had become one of the most dangerous threats facing democracies worldwide.

“The misuse of citizens’ personal information carries serious social implications, especially for vulnerable groups who may not fully understand how their data is harvested, processed and weaponised online,” he said.

Dosekun noted that coordinated disinformation campaigns could inflame ethnic tensions, spread fear and discourage civic participation, particularly among young Nigerians.

He described the Nigeria Data Protection Act, 2023, as a critical legal framework aimed at protecting citizens against unlawful data processing and digital exploitation.

According to him, the law gives Nigerians greater control over their personal information while placing obligations on organisations, institutions and political actors to handle data responsibly.

Dosekun also called for stronger collaboration among political parties, media organisations, technology firms, civil society groups and citizens to promote responsible digital behaviour ahead of the elections.

He stressed the role of journalists and media professionals in combating fake news, fact-checking information and safeguarding public discourse.

According to him, protecting personal data should not only be seen as a privacy issue but also as a democratic responsibility necessary for maintaining public confidence, national stability and electoral credibility.

Stakeholders at the event emphasised the need for improved digital literacy, stronger regulation and increased public awareness to prevent the abuse of digital platforms during future elections.


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Anthropic Raises $65 Bn to Expand AI Research, Innovation

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Anthropic, artificial Intelligence company, has said that  it has secured sixty-five billion dollars in a new funding round, raising the company’s valuation to about nine hundred and sixty-five billion dollars.

Anthropic Raises $ 65 Bn to Expand AI Research, Innovation

The development places the company ahead of its rival, OpenAI, maker of ChatGPT, which was valued at about eight hundred and fifty-two billion dollars earlier this year.

Anthropic, founded by former OpenAI employees and led by Dario Amodei, chief executive officer, has emerged as one of the leading firms in the global Artificial Intelligence industry.

The company is widely recognised for its advanced coding capabilities and generative AI models, particularly its AI assistant known as Claude.

Unlike some competitors focusing mainly on general consumers, Anthropic has concentrated on delivering AI solutions to enterprise and business clients.

The company also says it places strong emphasis on AI safety while expanding its products and services amid growing competition in the sector.

Krishna Rao, chief financial officer of Anthropic, said the new funding would support the company’s research efforts and help meet rising global demand for its AI technologies.

Reports indicate that the investment round attracted major Silicon Valley venture capital firms, including Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital.


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