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FG Rakes in 8Bn from Banks’ IT Levies

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Eleven Nigerian banks paid about N8.08bn Information Technology-related levies to the government in 2019, the audited financial reports of the banks have shown.

FG Rakes in 8Bn from Banks’ IT Levies

Punch reported that the analyses of the financial reports indicated that this is a reduction of N381.12m over the N8.46bn IT levy the 11 banks paid to the government in the corresponding period in 2018.

The National Information and Technology Development Agency (NITDA) had established a Fund to which companies and enterprises with an annual turnover of N100m or more are mandated to contribute one per cent of their profits before tax to.

Companies liable to pay the levy as stated in the NITDA Act are GSM service providers and all telecommunications companies; cyber companies and Internet providers; pension managers and pension-related companies; banks and other financial institutions; and insurance companies.

Some of the banks, whose annual reports were assessed are Zenith Bank Plc, First City Monument Bank, Access Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa Plc, Sterling Bank Plc and First Bank of Nigeria Limited.

Others are Jaiz Bank Plc, Union Bank Plc, Wema Bank Plc and Fidelity Bank Plc.

Zenith Bank paid the highest IT levy out of all the banks in 2019, reporting N2.41bn, a 17 per cent increase from N2.06bn remitted in 2018.

GTB ranked second, reporting N2bn IT levy remittance to the government in 2019, a five per cent increase compared with N1.90bn paid within the same period of 2018.

Having paid N1.02bn to the coffers of the government, UBA reported a 52 per cent reduction in its IT levy remittance in 2019 as against N2.31bn paid in 2018.

IT tax expenses reported by First Bank rose by three per cent from N774m in the 2018 to N795m in 2019.

As contained in its annual report, Access Bank’s IT levy remittance to the Nigerian government in 2019 was N831.69m, an increase of 10 per cent over N752.43m made in 2018.

Fidelity Bank’s IT levy remittance for 2019 improved by 21 per cent to N304m as against N251m in 2018.

FCMB’s IT tax levy paid to the Nigerian government increased by 66 per cent from N120.46m reported in 2018 to N200.18m in 2019.

For Jaiz Bank, the IT levy paid increased by 286 per cent from N5.44m in 2018 to N21.01m in 2019.

With N102m reported in 2019, Sterling Bank’s IT levy paid to the government increased by four per cent from the N98m reported in 2018.

Wema Bank remitted N67.71m from its income to the government in 2019, compared to N56.05m it paid in 2018, recording 21 per cent growth in IT levy remittance.

Details of Union Bank’s annual report indicated that the bank paid N245m as IT levy to the government in 2019, recording 81 per cent increase as against N135m in 2018.

According to NITDA Act 2007, companies eligible to pay the one per cent levy are assessed and issued a demand notice by the Federal Inland Revenue Service.


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Firm Discovered a New Corporate Phishing Technique using a Popular AI Web Development Platform

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Kaspersky has discovered that attackers have begun exploiting another legitimate service for malicious purposes – this time it is Tencent EdgeOne Pages, a platform for creating and hosting web applications.

Attackers are misusing its capabilities to generate phishing emails targeting corporate users. Previously Kaspersky has described similar attacks leveraging Google services and web applications generated by Bubble, an AI-powered app builder, to hunt for corporate credentials.

Employees across multiple industries including the industrial sector, sales, and government are among the targets. The goal of the attack is to steal login credentials for corporate resources. Over the past 30 days, the company’s experts have detected more than 8,000 phishing emails using this tactic, including messages in English, Korean, and Russian.

The Tencent EdgeOne Pages service is positioned as a platform for quickly creating and deploying web applications using AI. Scammers misuse it to generate and publish phishing pages in minutes with virtually no web development skills.

Attackers host phishing pages on EdgeOne’s legitimate cloud infrastructure and use trusted domains. As a result, such sites appear to be established and secure to many protective solutions, complicating the detection of such attacks.

How the attack begins

The user receives an email from the alleged “corporate email support team”. The message states that the account login credentials will expire in 48 hours, and that failure to update them may result in problems receiving or sending emails.

To avoid restrictions, the user is prompted to click a link and enter relevant information. Phishing emails are not limited to this narrative, and could deliver any corporate message, such as a message from the HR department or a notification of a received document that should be downloaded.

Clicking the link in the email opens a page with a form for entering the victim’s name, email address, and password. It is a simple design, with virtually no additional elements.

After the user enters their login and password, the data is transferred to a server controlled by the attackers.

“We are seeing a continuation of the trend in which attackers use AI and no-code platforms as part of their phishing infrastructure. We’ve previously observed a similar scheme using the Bubble platform, and here we have yet another example.

“While the communication used in these phishing attacks is typical and has been used before multiple times, the attack technique itself significantly lowers the barrier to entry for attackers and accelerates the creation of phishing resources.

“Previously this required at least basic web development skills, but now an infrastructure for fraudulent emails can be created in minutes,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.


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Kaspersky Report Shows Early 2026 Witnessed an Increase in Cyberattacks on the Manufacturing Sector

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According to a new Kaspersky ICS CERT report, in Q1 2026 the percentage of industrial control systems (ICS) on which malicious objects were blocked reached 19.6% globally. Kaspersky security solutions blocked malware from 10,052 different malware families of various categories on industrial automation systems.

Regionally, the share of ICS computers that were attacked ranged from 27.4% in Africa to 9.1% in Northern Europe. Compared to the previous quarter, attacks on the manufacturing sector in Q1 increased in multiple regions, including in Europe and Asia.

Regional split

In terms of overall numbers across all industry sectors, five regions saw an increase in the share of attacked ICS computers in Q1 2026 compared to the previous quarter. These were Southern Europe, Russia, Northern Europe, Canada and Africa.

Industries

In Q1, biometric systems traditionally placed first in terms of the share of ICS computers on which malicious objects were blocked, at 26.4%. These systems commonly have Internet access, are used for email, and, in many cases, have minimal cybersecurity controls within the organisations that use these systems.

Regionally, Southern Europe leads the ranking based on the percentage figures for biometric systems, at 35.15%. Africa follows at 29.58%, and Central Asia comes in third at 28.53%.

In the manufacturing industry, Southeast Asia ranks first among regions in terms of the percentage of ICS computers attacked (23.21%), followed by Africa (21.36%) and South Asia (20.13%).

In 2025, Kaspersky and VDC Research estimated that in just the first three quarters of 2025 cyberattacks on manufacturing organisations via ransomware could have generated over $18 billion globally in losses. Actual business losses could have been even higher when factoring in supply-chain disruptions, reputational damage, and recovery expenses.

“Legacy operational technology systems remain deeply embedded in manufacturing environments, which makes them vulnerable. Supply chain complexity and branching of the trusted partner network expands the attack surface beyond the network perimeter.

Attackers are realising that targeting OT assets of an industrial enterprise is not rocket science, which is why factory shutdowns bring massive financial losses,” commented Evgeny Goncharov, Head of Kaspersky ICS CERT.

 


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NDPC, Meta Launch 2-Year M-SIDP after Regulatory Settlement

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Nigeria Data Protection Commission (NDPC) has launched the Meta-Supported Initiatives for Data Protection (M-SIDP), a strategic programme aimed at strengthening data privacy awareness, regulatory compliance and institutional capacity across Nigeria’s digital ecosystem.

NDPC, Meta Launch 2-Year M-SIDP after Regulatory Settlement

The initiative follows the conclusion of regulatory proceedings involving Meta Platforms Inc., the parent company of Facebook, Instagram and WhatsApp, over concerns relating to the processing of personal data belonging to Nigerian users. The matter was resolved in 2025 through a court-approved settlement.

Under the agreement, Meta committed to supporting a two-year programme of public-facing data protection measures designed to advance the objectives of the Nigeria Data Protection Act (NDP Act) 2023, the General Application and Implementation Directive (GAID), and the NDPC Strategic Roadmap and Action Plan (SRAP) 2023–2027.

Announcing the initiative, the Commission said the programme would strengthen safeguards for data subjects while promoting responsible data processing practices among organisations operating in Nigeria.

According to a statement signed by Itunu Dosekun, head of the NDPC Media Unit, the programme will focus on governance, research and development, safety and sustainability mechanisms for technology ecosystems, capacity building for Data Protection Officers (DPOs) and Data Protection Compliance Organisations (DPCOs), as well as public awareness campaigns targeted at vulnerable groups.

The Commission stated, “As part of the settlement, Meta committed to supporting a two-year programme of public-facing data protection measures that aligns with the objectives of the Nigeria Data Protection Act, 2023 (NDP Act), the NDP Act General Application and Implementation Directive (GAID) and the NDPC Strategic Roadmap and Action Plan (SRAP) 2023–2027.”

The NDPC stressed that the settlement does not limit its regulatory authority.

“Nothing in this settlement limits the Commission’s independent statutory powers as we continue to exercise our regulatory mandate in relation to data processing activities in Nigeria, in accordance with the NDP Act and other applicable laws,” it stated.

The development comes amid rising global scrutiny of technology companies over data privacy practices, with regulators in regions including the European Union and the United States tightening enforcement against breaches and non-compliance.

Nigeria has also intensified efforts to strengthen its privacy framework following the enactment of the Nigeria Data Protection Act in 2023, which established the NDPC as an independent regulator empowered to monitor compliance, investigate violations and impose sanctions.

Industry experts warn that increasing digital adoption across banking, telecommunications, e-commerce, healthcare and public services has heightened risks of identity theft, cybercrime and unauthorised data sharing.

The NDPC has in recent years stepped up enforcement actions against organisations that violate data protection rules, while also expanding accreditation for Data Protection Compliance Organisations and training for privacy professionals.

The Meta-supported initiative is expected to address gaps in public awareness and technical capacity, while also supporting research and policy development on emerging issues such as artificial intelligence, cross-border data transfers and platform governance.

The Commission said it would provide periodic updates on the implementation of the programme and called on stakeholders to support efforts to build a secure, transparent and accountable privacy ecosystem in Nigeria.


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