Connect with us

E-Business

Experts Urge Nigerians to Wary of Cyber Attacks

Published

on

Kindly share this post

Cyber security experts and international data organisations have warned Nigerians to wary of activities of cyber criminals hiding under the anonymity of the information super highway.

Experts Urge Nigerians to Wary of Cyber Attacks

Nigeria has been the main target of cybercriminals for the past two years because many of its businesses had moved online during the coronavirus-induced lockdown.

Kaspersky, global cybersecurity and digital privacy company, reports that leading countries in Africa, including Nigeria, have experienced 85 million malware attacks in just six months.

The data showed that South Africa, the most targeted had 32 million attacks, followed by Kenya with 28.3 million, Nigeria with 16.7 million cyber attacks, while Ethiopia had 8 million attacks.

However, Nigeria and Ethiopia have had the highest increase of cyber attacks on the continent compared to the pre-COVID-19 year. Nigeria, Ethiopia and South Africa recorded an increase of 23 per cent, 20 per cent and 14 per cent, respectively, with Kenya being the only country that saw a decrease of 13 per cent.

Nigeria seems to be the most hit. Yet, experts see more attacks on businesses as the movement toward Internet-of-Things (IoT), Artificial Intelligence, and cloud computing continues to gain momentum. But this also exposes businesses to cyber-attack risks.

However, the cyber security experts said this type of gloomy data should spur responsible, conscious and forward-thinking corporate and large businesses heavily exposed to e-commerce to adopt strategies for mitigating these risks.

But small businesses are not left off the ugly trend. Recent findings show that enterprises with less than 200 employees lose an average of $2.5 million each due to cyber threats. Nigerian SMEs inclusive.

Sophos Group believes that 86% of Nigerian companies fell prey to cyber attacks last year.

Mr Victor Idonor, director-general, Cybersecurity Challenge Nigeria Initiative (CYSEC NG), urged Nigerians to be wary of cybersecurity, like every other security challenge and its impacts on the nation and citizenry.

National Information Technology Development Agency (NITDA) has also warned that there are possible spillover cyber-attacks against non-primary targets as a result of Russia’s invasion of Ukraine.

Mrs Hadiza Umar, head, Corporate Affairs and External Relations of NITDA, in a statement issued in Abuja, said the invasion had increased cyberattacks on businesses and government agencies.

“There is a greater danger for countries doing business in or with these countries’ governments, as well as businesses or countries that apply sanctions or are believed to intervene. In this regard, NITDA’s Computer Emergency Readiness and Response Team (CERRT) is urging all Ministries, Departments and Agencies (MDAs) to take extra security precautions.

“They should harden their cyber defences and perform due diligence in identifying indicators of malicious activities that could affect their networks, assets and critical national infrastructure. MDAs are advised to carry out checks for possible vulnerabilities on their systems and implement appropriate remediations,” Umar said.

She added that they should always ensure the software is updated and carry out regular patches on all systems. According to her, they should secure and monitor remote desktop protocol and other risky services and carry out awareness on cyber security best practices to sensitise employees and users of services.

NITDA called on organisations to sign up for NITDA’s free web protection service, which will provide MDAs’ administrators with detailed information about the vulnerability of their web services.

Some tips to detect and mitigate cyber risks:

  1. Beware of mysterious email activity

Email phishing is one of the primary ways attackers gain access to sensitive business information by pretending to be a trusted organisation or website. These attempts have been growing in number, making it essential for employees to practice safe email protocol and be careful not to click on online links, open emails, or attachments from unknown sources. It is also advisable to create a culture where all employees refrain from responding or engaging in emails with anonymous sources.

  1. Note unusual password reset request

This is another devious way cybercriminals deploy to gain access to the company’s secure portal. An employee who receives an email requesting a password change or update should immediately report the event to the IT unit. A good security best practice is to ensure that all employees create a strong password for their email.

  1. Report a slower-than-normal network

This kind of episode might seem normal in this part of our world, where strong connectivity is not the usual. However, this could also be a hacking attempt or malware attack. These attempts often result in spikes in network traffic that can reduce internet speed. To mitigate this, inform the IT security department to be on the watch during such situations. Also, inform the internet service provider to ensure the team is on the alert.

  1. Prepare for the worst-case scenario

Despite all these high-alert detection strategies and information to employees, the unplanned can still happen, making it more critical to have a cyber insurance policy that your organisation can fall back on should such an event occur. One of the deliberate actions is to prioritise cyber threat insurance on top of your risk mitigation plan against cyber attacks.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

E-Business

NITDA, ICF Train 100 Schoolgirls in ICT Skills

Published

on

Kindly share this post

The National Information Technology Development Agency (NITDA) and Illmi Children’s Fund (ICF) have trained 100 schoolgirls in digital and Information and Communication Technology skills training.

Mrs. Maryam Augie-Abdulmumin, ICF Executive Director, confirmed this in a statement on Thursday in Lagos.

The graduation followed the training of the schoolgirls in ICF and NITDA’s DIGITGALS 2.0 programme, a collaborative initiative aimed to equip adolescent girls in Abuja with critical digital and ICT skills.

Augie-Abdukmumin said the DIGITGALS 2.0 centred around essential digital literacy, programming fundamentals, digital marketing and communication skills, and cybersecurity awareness.

She added that the girls were equipped with the confidence to compete and excel in a globalised digital economy. The graduation was in commemoration of the 2024 International Girls in ICT Day celebration on April 25.

DIGITGALS 2.0 is in its second phase and empowered 100 senior secondary school girls selected from five government schools in the Federal Capital Territory.

The girls aged between 15 and 18 years were equipped with the knowledge and tools needed to thrive in the digital world and address the growing demand for ICT skills in the 21st century.

Augie-Abdulmumin reiterated the importance of bridging the digital gap in the country starting with the girl-child.

“This graduation ceremony on International Day of Girls in ICT is a powerful symbol of our commitment to closing the digital gender gap.

This programme made possible through our partnership with NITDA, and signifies a crucial step towards bridging the digital gender gap.

It also fostering a future where women are active leaders in the tech industry. This is also an opportunity for these girls to take charge of their own future,”.

Mr Kashifu  Abdullahi, the Director-General of NITDA, commended the collaborative efforts of ICF in making the DIGITGALS 2.0 a reality.

According to him, building a diverse and inclusive digital workforce is critical for Nigeria’s success.

“We are proud to collaborate with ICF on DIGITGALS 2.0 to empower these young women to become active participants in the tech industry. This programme showcases the importance of collaborative efforts in bridging the digital gender gap.

These girls have been equipped with essential digital skills, and ICF and NITDA are confident they will become active contributors to Nigeria’s thriving tech landscape,”.

ICF is a non-profit organisation dedicated to improving the lives of children, from underprivileged backgrounds, through education, healthcare, technology and entrepreneurship initiatives.

NITDA is a public service institution established in 2007. It functions as the ICT policy implementing arm of Nigeria’s Federal Ministry of Communication and Digital Economy.


Kindly share this post
Continue Reading

E-Business

Confronting the Google Monolith: Survival Strategies for Online Businesses

Published

on

Kindly share this post

By Reuben Kalu.

In the vast expanse of the digital realm, Google looms large, an omnipresent force shaping the way we navigate, search, and conduct business online.

From its humble beginnings as a search engine to its current status as a multifaceted tech behemoth, Google has entrenched itself deeply into the fabric of the internet.

Its influence is undeniable, its reach unparalleled, and its ubiquity seemingly inescapable. But can you truly run an online business without Google?

The answer, in today’s digital landscape, is a resounding no. You have no choice.

Google’s dominance extends across multiple facets of the online world, making it virtually impossible for businesses to thrive without engaging with its ecosystem.

From search engine optimization (SEO) to online advertising, email services to analytics, Google’s suite of products and services permeates every aspect of the online business landscape.

Attempting to operate without Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

At the heart of Google’s influence lies its search engine, the gateway through which billions of internet users navigate the vast expanse of online content. .

Google’s search algorithms wield immense power, determining which websites rank prominently in search results and which languish in obscurity.

For businesses seeking to attract organic traffic and expand their online presence, optimizing for Google’s search algorithms is not merely advisable—it’s imperative.

But Google’s influence extends far beyond search. Consider Google Ads, the company’s advertising platform that enables businesses to reach targeted audiences through paid search, display, and video advertising.

With billions of searches conducted on Google each day, Google Ads provides unparalleled reach and visibility, allowing businesses to target potential customers with pinpoint accuracy.

Attempting to compete in the online advertising arena without leveraging Google Ads is akin to entering a battle unarmed—a futile endeavor destined for failure.

 

Moreover, Google’s suite of productivity tools, including Gmail, Google Drive, and Google Workspace, has become indispensable for businesses seeking to streamline their operations and enhance collaboration.

With seamless integration across devices and platforms, Google’s productivity tools offer unparalleled convenience and efficiency, empowering businesses to work smarter, not harder.

Attempting to eschew Google’s productivity suite in favor of alternative solutions is not only impractical but also unwise, depriving businesses of the tools they need to succeed in today’s fast-paced digital landscape.

Furthermore, Google Analytics stands as the gold standard for web analytics, providing businesses with invaluable insights into their online performance and audience behavior.

From tracking website traffic and user engagement to analyzing conversion metrics and customer demographics, Google Analytics offers a comprehensive toolkit for optimizing online marketing strategies and driving business growth.

Attempting to gauge online performance without leveraging Google Analytics is akin to flying blind, devoid of the critical data needed to make informed decisions and drive meaningful results.

But perhaps the most formidable aspect of Google’s influence lies in its role as a gatekeeper of information and access.

With billions of users relying on Google’s platforms and services each day, the company wields immense control over the flow of online traffic and the dissemination of information.

For businesses seeking to connect with customers and expand their reach, Google’s dominance presents both a tremendous opportunity and a formidable challenge.

Attempting to circumvent Google’s influence and establish an online presence independent of its ecosystem is a Herculean task, fraught with uncertainty and risk.

In essence, attempting to run an online business without engaging with Google is akin to swimming against a relentless tide, fighting an uphill battle fraught with obstacles and limitations.

While alternative platforms and solutions exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage. You have no choice.

In conclusion, Google’s pervasive influence permeates every aspect of the online business landscape, making it virtually impossible to escape its grasp.

From search engine optimization to online advertising, productivity tools to web analytics, Google’s ecosystem encompasses a vast array of products and services that have become indispensable for businesses seeking to succeed in the digital age.

While alternative solutions may exist, none possess the ubiquity, reach, and influence of Google’s ecosystem.

To thrive in today’s digital landscape, businesses must embrace Google’s dominance and leverage its suite of products and services to their advantage.

You have no choice.


Kindly share this post
Continue Reading

E-Business

Hydrogen Hosts Catalyst Workshop, Highlights Resilient Business Models for Fintech Startups

Published

on

Kindly share this post

As part of its mission to empower African businesses with tools needed to thrive, garner admiration, and foster global acclaim, leading payment solution company, Hydrogen Payment Services Company Limited (Hydrogen), recently partnered with the Co Creation Hub (CcHub), to host the latest edition of the Catalyst workshop in Lagos.

The discourse addressed the potential risks and opportunities for startups and saw experts advise participants on the need to develop resilient business models that would scale across different economic climes.

Moderated by Miracle Ezechi, Digital Marketing Manager, Hydrogen, the panel session addressed dominant issues about the theme: ‘Adapting Fintech Business Models to Economic Climes: Flexibility, Agility and Customer-centricity’.

Mr. Emeka Awagu, Chief Technology Officer, Hydrogen, who spoke as a panellist, addressed the issue of customer-centricity, which according to him, is key to Fintech growth.

He advised startups to listen to customer demands and understand their needs in order to develop the right solutions that will lead to long term market viability.

“Innovation is key for startup growth. However, understanding customers’ needs and change in behaviour will help any startup to innovate better.

“Startups must be flexible and agile to develop solutions with high interoperability and processing speed, and they must be ready to learn from startups that have failed,” Awagu said.

With an estimated 61.07 percent of startups failing, the participants stressed the need for prudence.

“Statistically, a staggering number of startups fail, often due to financial mismanagement. Hence, founders must prioritise understanding and maintaining a healthy the Cost-to-Earnings ratio.

“It is not just a number, but a pivotal indicator of a company’s financial health as well as being a key attractiveness determinant for investors,” Awagu added.

On his part, Ina Alogwu, the Group Director, Digital Transformation, ARM HOLDCO, who also spoke as a panellist at the session, stressed the need for startups to develop sustainable products and solutions that will help them remain competitive in an environment that is faced with harsh economic realities.

“Many startup businesses fail within their first five years, however upcoming startups should not be discouraged, rather develop a culture that will encourage them to understand the reasons for failure and learn from mistakes.

“Startups should not be too rigid with their solutions and should be ready to accept changes that will drive innovation,” Alogwu stated.

Hydrogen will be deepening its economic impact series with a webinar planned for Thursday, April 25, even as businesses across Africa continue to face an array of challenges, ranging from inflation and currency fluctuations to rising operating costs.

Themed ‘Navigating Economic Challenges: Strategies for Sustainable Growth,’ the webinar will delve into key areas critical for businesses to not only survive but thrive in the face of economic adversity. Register using this link – https://bit.ly/Hydrogenwebinar.

Esteemed panellists for this event include Taofik Odukoya, CEO, Vanguard Pharmacy, and Okechukwu Odimgbe, Chief Financial Officer, Hydrogen. The session will be moderated by Nnenna Sam-Obioha, Ecosystem Orchestrator, Hydrogen.

 


Kindly share this post
Continue Reading

Trending