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Experts at NaijaSecCon’18 Seek Improved Education on cybersecurity in Nigeria
Participants at the second edition of NaijaSecCon have been exposed to insights and discussions around malware analyses; cryptocurrency mining, USB forensics, digital forensics capabilities, programming and different topics around security.
Speakers at the conference held in Lagos on Friday, May 4, 2018, are of the view that lack of education on technical aspects of Information Security could hurt the economy in the nearest future.
Their unanimous views stem from the report which projects that the devastating effect of cyber-crime will cost about $6trillion by 2021.
This is from an increase of $3 trillion recorded in 2015. It is roughly estimated that about 60% of Nigerian companies suffered a form of cyber-attack during the year 2017, many of which went unreported for reasons ranging from, lack of knowledge of such happenings, apathy, fear of losing customers, job security etc.
Muzudeen Kusimo, Founder of Inspaya , said there is a level of education required from those that would be making cybersecurity policies in Nigeria.
“This is necessary so that the policies they are making are right and effective. It is good to make policies but if they do not meet the realities on the ground, then the policies become ineffective.
“For you to apply these policies effectively, it means you have the right context and that is education. So there is a huge gap in terms of awareness.
“We have been having significant conversations with stakeholders both in Nigeria and the diaspora about the needs to alter the curriculum to reflect the current realities in the cyberspace.
“And some of the ways to do that is to work with the universities and educationists in making sure that we introduce some of these courses. In the long run, this is going to form the core of the knowledge for cybersecurity.
“The goal is that after you finish the regular two or four years programme from the higher institutions, students will have some level of awareness that would take them to the next level.
“From there, they get actively involved in cybersecurity activities”.
Coming from the United States to be part of NaijaSecCon’18, Charles Nwatu, said he discovered there are a lot of talents to be harnessed in Nigeria to assist the government and corporate organisation ward off cyber traitors.
Nwatu said, “There is a lot of talent; I have seen the skills set developed. There is an issue of how to capture that talent and refine it.
“Structure, maturity and development, all those components are part of the experience.
“As we continue to have more students come into the program to gain more experience doing the actual work within businesses and companies. Then the maturity changes over time.
“The talent is there. We need more education and refining these talents to understand the rules of engagement when it comes to cybersecurity practices.
“We want to ensure that we operate effectively in the cybersecurity space and not to put anyone in jeopardy.
He further called for right policies be put in place to assist the industry grow.
“The message for the entire public is cybersecurity, the talent is here. We need investments in infrastructure, maturity, housing, good policies from the government.
“We just need a collective effort especially from the people, to push this course”, he said.
On his part, the Lead Convener of NaijaSecCon’18, Rotimi Akinyele said the conference was convoked to draw attention to issues around security while increasing wave of cyber crimes.
“There is something called BEC (Business Email Compromise) where you have hackers breaking into companies’ email and making transactions on behalf of the company.
“Previously, it was phishing. Now, there seems to be a maturity in terms of how these crimes are committed, nowadays you have lots of people using malware and Trojans.
“As for BEC, in the recent, it was reported that Nigeria hackers break into emails making transfers.
“What they do is to liaise with other sophisticated criminals all over the world. They buy most of these hacking tools from them and what they need to do is to embed this malicious code in an email and send.
“When the target clicks, they have access and start carrying out transactions on their behalf.
“There is also another attack known as the CEO and CFO Fraud. Hackers get access to the CEOs email and send email to the CFO asking him to make a fund transfer.
“This sort of attack is somehow recent and it looks like is being in the limelight for such attack”, he said.
Commenting on the competition, Akinyele said the university students were involved to participate in ethical hacking challenges.
Over ten teams qualified and participated in the hackathon with Team Phamtom emerging the overall winners.
“The whole idea is to set them up in the right career path”, he said.
Telecommunications and digital solutions provider, Globacom, has introduced a new promotional data package known as “More Data More Value only on Glo”, aimed at enhancing the digital lifestyle of its customers across the country.
In line with the growing demand for internet connectivity in Nigeria’s increasingly data-driven economy, Globacom said the new offer reinforces its position as a customer-focused network by providing subscribers with over 10 percent additional data value on selected bundles.
According to a statement issued by the company in Lagos, the initiative was introduced to ensure that Nigerians derive maximum benefit from every Naira spent on data services, while continuing the company’s tradition of delivering affordable and value-packed telecommunications solutions.
The “More Data More Value” package features several weekly and monthly plans structured to support both daytime and nighttime browsing needs.Under the weekly category, the ₦1,000 plan offers subscribers a total of 3.7GB data, comprising 1.7GB regular data and an additional 2GB night browsing allocation.
Customers who opt for the ₦2,000 weekly package receive 9GB in total, broken into 6.5GB main data and 2.5GB for night usage.
For monthly subscribers, the ₦1,500 package provides a combined 5.2GB data volume, consisting of 2.2GB regular data and 3GB night allocation. The ₦2,000 monthly option comes with 6.25GB in total, including 3.25GB main data and 3GB night data.
Subscribers choosing the ₦5,000 monthly plan receive 16.5GB altogether, made up of 14.5GB main data and 2GB night browsing bonus. Higher-end packages are also available, including the ₦10,000 option which delivers 42GB total data volume — 38GB main data plus 4GB night data — while the ₦15,000 package provides 64GB in total, comprising 62GB regular data and 2GB night allocation.
Globacom noted that the enhanced data bundles are designed to support the increasing digital needs of students, entrepreneurs, remote workers, gamers, and social media enthusiasts who require uninterrupted connectivity for streaming, online meetings, content creation, gaming, and social interaction on platforms such as TikTok, Instagram, and YouTube.
The company added that the offer is equally beneficial to households and small businesses that depend heavily on mobile internet and hotspot connectivity for daily operations.
By increasing data value across its packages, Glo which aims to position itself as the preferred network for high-volume data users further disclosed that the offer aligns with its broader digital transformation strategy through the Glo Café app, which enables customers to subscribe to bundles conveniently and manage their bonus data seamlessly for a more rewarding user experience.
According to the company, the “More Data More Value” proposition reflects its commitment to delivering superior value and ensuring that Nigerians continue to enjoy reliable and affordable digital services without compromising their online lifestyle.
China Industrial Bank (CIB) has thrown its support behind the Nigeria Universal Communication Access Project (NUCAP), a large-scale infrastructure plan designed to extend connectivity to more than 20 million Nigerians in underserved communities.
The announcement was made by the minister of communications, innovation and digital economy, Bosun Tijani, following a meeting in Abuja with a CIB delegation led by Peng Shuang, general manager of the Strategic Emerging Industries Business Headquarters.
Under NUCAP, the Federal Government plans to deploy 3,700 telecommunications towers nationwide, targeting rural, riverine and hard-to-reach areas where access to reliable network coverage remains limited or non-existent.
The initiative forms part of Nigeria’s broader digital inclusion strategy aimed at expanding access to communication infrastructure and unlocking economic opportunities.
Tijani disclosed that CIB has committed to supporting the delivery of at least 1,000 telecom tower sites before the end of the year, describing the partnership as a major milestone in accelerating nationwide connectivity.
According to him, the project represents a “green” telecommunications network designed to ensure sustainable expansion of digital infrastructure while bridging long-standing access gaps in remote communities.
He also noted that CIB’s involvement marks the bank’s first investment in Nigeria, reflecting growing international confidence in the country’s digital economy reform agenda.
NUCAP builds on earlier federal plans to construct up to 7,000 telecom towers across rural Nigeria, an initiative already approved by the Federal Executive Council as part of efforts to strengthen national connectivity infrastructure.
Meanwhile, the Nigerian Communications Commission has said telecom operators have pledged to upgrade 12,000 network sites in 2026, including the migration of legacy 2G and 3G infrastructure to more advanced 4G and 5G systems.
Officials say the combined public and private sector investments are expected to significantly improve network quality, expand broadband access and support Nigeria’s long-term digital transformation goals.
As the Central Bank of Nigeria (CBN) officially rolled out its ambitious Nigeria Payments System Vision (PSV) 2028 framework in Abuja, industry leaders are shifting the conversation from how money moves to making a robust case for how those transactions can unlock economic survival for millions of underserved businesses.
Tosin Eniolorunda, Founder and Group Chief Executive Officer of Moniepoint Inc,
Tosin Eniolorunda, Founder and Group Chief Executive Officer of Moniepoint Inc, has said the next phase of growth in Nigeria’s payments ecosystem will come from building credit products directly on top of existing payment infrastructure, using transaction data to unlock financing for the millions of small businesses that have historically been shut out of formal credit markets.
Eniolorunda made the remarks during a panel session at the launch of the Nigeria Payments System Vision 2028 (PSV 2028), describing the event as a reminder of how far the country’s payments ecosystem has come and how much further it can go with deliberate building.
“I believe the next phase of growth will come from layering services like credit onto existing payment flows, using the visibility and trust already built through financial transactions,” Eniolorunda said.
The Nigeria Payments System Vision 2028 is a CBN-led framework setting out the priorities and direction for the country’s payments infrastructure over the coming years, with financial inclusion, resilience, and innovation among its core pillars.
The panel, moderated by Chief Executive of Sterling Bank Plc, Mr. Abubakar Suleiman, also featured Managing Director/CEO of Nigeria Inter-Bank Settlement System (NIBSS) Plc, Mr. Premier Oiwoh; Managing Director/CEO of Remita Payment Services Limited (RPSL), Mr. Deremi Atanda; and Managing Director/CEO of Shared Agent Network Expansion Facilities (SANEF) Limited, Mrs. Uche Uzoebo, among others.
Speaking on the power of payment infrastructure as a foundation for broader financial services, Eniolorunda argued that the data generated by payment systems, when used responsibly, holds the key to making credit faster and more accessible for underserved businesses.
“One of the most powerful things about payment infrastructure is the data it creates. When used responsibly, it can help unlock quicker and more accessible credit for businesses that have historically been underserved. For many small businesses, access has always been the real barrier,” he said.
Eniolorunda also noted that Central Bank of Nigeria Governor Olayemi Cardoso used the PSV 2028 launch to stress the importance of collaboration and innovation in building a payments ecosystem capable of supporting inclusion and economic growth.
“Achieving the ambitions of PSV 2028 will require regulators, banks, fintechs, and ecosystem players working together with a shared long-term vision,” Eniolorunda emphasized, echoing Governor Cardoso’s warning against the country’s historic “start-stop” policy cycles.
In his address at the launch, CBN Governor, Olayemi Cardoso noted that the new framework builds on Nigeria’s progress in digital payments and seeks to accelerate the country’s transition towards a more inclusive, technology-driven ecosystem as it continues to lead Africa’s digital payments ecosystem.
“Over the past two decades, Nigeria’s payments ecosystem has evolved into one of the most dynamic and innovative in the world. From instant payments and digital adoption to fintech-led innovation, our progress has often set the pace on the continent. While this progress has not always been fully reflected in global narratives, its impact on economic activities, financial inclusion, and system resilience is evident across our economy,” he said.
The CBN governor stressed that financial inclusion must remain central to the country’s economic future, noting that millions of Nigerians are still outside the formal banking system.
“Inclusion and not exclusion must define our future. In 2023, a very large number of Nigerian adults will have access to financial services. Under Vision 2028, I would like to see this reaching 95 per cent inclusion. That means 50 million more market women, farmers, and young people will have a bank account or wallet in their name, with their name and BVN protecting them,” Mr Cardoso said.
Nigeria has grown into one of the most active fintech markets globally over the past decade, driven by mobile money adoption, agent banking expansion, and a wave of venture-backed startups building across the financial services stack. The push to convert payment data into business capital aligns closely with the core pillars of the PSV 2028 roadmap, which emphasizes open banking, infrastructure resilience, and deep economic integration.
Moniepoint, which is Nigeria’s largest distributor of financial services has built its early dominance on payment infrastructure and agent banking for small businesses, and has since expanded into business banking and credit, with over 1 trillion naira disbursed in 2025 to Nigerian MSMEs.
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