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FG to Help Startups Raise Funding to $5Bn

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Dr. ‘Bosun Tijani
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Federal government has set a plan to help startups raise their yearly funding rounds to $5bn by 2027, and improve access in rural areas by at least 40 per cent.

FG to Help Startups Raise Funding to $5Bn

This will also equip three million Nigerians with tech skills over the next four years.

Dr. ‘Bosun Tijani, minister of Communications, Innovation, and Digital Economy, on Monday, disclosed this while outlining his plan for the ministry, in a document tilted, ‘Accelerating our collective prosperity through technical efficiency: A strategic plan for the Federal Ministry of Communications, Innovation & Digital Economy’.

Tijani highlighted that in today’s global technology landscape, innovation, entrepreneurship, and access to capital were critical components of a strong digital economy.

He stated that the primary objective of the ministry on this would be to stimulate the growth and sustainability of startups, with a specific focus on those developing innovative solutions for critical sectors of the economy.

The minister said, “Recognising the critical role of patient capital in the growth of startups, we are committed to increasing the local availability of patient capital. Our intent is to create an environment for startups to raise the funding they require to thrive locally and promote the domiciliation of startups within our nation.”

Describing how the ministry would measure if its plan were working, he added, “Increase capital raised by Nigerian tech startups 50 per cent year-on-year from $1bn/yr in 2022 to $5bn/yr in 2027.”

Amid a funding drought, Nigerian startups raised $1.2bn in 2022, according to Africa The Big Deal (an African funding data insight firm). African startups raised $5.4bn according to Briter Bridges in 2022.

According to the minister, equipping talents with knowledge that can influence the generation of innovations and technologies that drive economic growth, expand the talent pool to drive competitiveness, improve productivity, and inform evidence-based policymaking is crucial.

He said, “Our commitment to talent development is unwavering. We have set an ambitious goal to train three million early to mid-career technical talents over the next four years. These trainings will cover tech-enabled and tech-adjacent skills, core tech competencies, and advanced proficiencies. This holistic approach is designed to empower our workforce to thrive in a constantly evolving technological landscape.”

Tijani noted that the government’s aim was to retain at least 1.5 million of the trained talents within its local talent pool and facilitate opportunities for the other 1.5 million to excel in the global talent marketplace, preferably through remote opportunities.

 

 


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E-Business

Kaspersky Discovers Vulnerability in Qualcomm Snapdragon Chips that can Lead to Data Loss & Device Compromise

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Kaspersky ICS CERT discovered a hardware-level vulnerability affecting Qualcomm chipsets that are widely used in a range of consumer and industrial devices, including smartphones and tablets, car components, IoT devices and more.

The vulnerability resides in the BootROM – firmware embedded at the hardware level. Attackers could potentially get access to any data stored on the device or device sensors like camera and microphone, implement complicated attack scenarios and in some circumstances get full control of the device. The results of the research were presented at Black Hat Asia 2026.

The vulnerability affects Qualcomm MDM9x07, MDM9x45, MDM9x65, MSM8909, MSM8916, MSM8952 and SDX50 series and was reported to Qualcomm in March 2025. Qualcomm formally acknowledged the vulnerability in April 2025. It has been assigned a CVE-2026-25262. Other Qualcomm-based chips may be affected as well.

Kaspersky researchers explored the Sahara protocol, a low-level communication system used when a Qualcomm chip enters Emergency Download Mode (EDL) – a special recovery mode designed for repairing or restoring smartphones or other devices. Sahara acts as the first step that allows a computer to connect to the device and load software before the operating system on the device starts.

Kaspersky demonstrated that a security flaw in this process could allow an attacker with physical access to the target device to bypass key security protections in the chip, compromise the secure boot chain and, in some cases, deploy malicious applications and backdoors to the chip’s Application Processor, thus fully compromising the entire device.

For example, in cases when the target device is a smartphone or a tablet, the attacker can potentially get access to entered user passwords, and subsequently this opens further access to multiple types of sensitive user data, such as files, contacts, location, access to the devices’ camera and microphone, etc.

A potential attacker only needs a few minutes of physical access to a device to compromise it. Therefore, if a smartphone has been sent for repair or left unattended for a short time, one can no longer be sure it is not infected. Researchers warn that the threat extends beyond end-user scenarios to include potential compromise during the supply chain phase.

“Vulnerabilities like this may allow attackers to deploy malware that is difficult to detect and remove. In practice, this could enable covert data collection or influence device behaviour over extended periods of time.

“While a reboot might seem like an effective way to remove such malware, it cannot always be relied upon: compromised systems may simulate a reboot without actually resetting. In such cases, only a complete loss of power – including battery depletion – guarantees a clean restart,” comments Sergey Anufrienko, security expert at Kaspersky ICS CERT.

Kaspersky advises organisations and individual users to exercise strict physical security control over devices including at the supply, maintenance and decommissioning phases. A reboot of the device by cutting off the power supply to the affected chip (if available) or full battery discharge may help to get rid of the malware if it was installed.


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Survey Shows Gaps in Cybersecurity Policies and Employee Commitment Leave Organisations Vulnerable

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A recent Kaspersky survey entitled “Cybersecurity in the workplace: Employee knowledge and behaviour”, showed that 39% of professionals in the Middle East, Turkiye and Africa (META) region, consider cybersecurity rules in their company to be excessive or not fully appropriate.

While 7% noted that their organisations do not have cybersecurity rules or that they are not aware of them. These results show a disconnect between corporate cybersecurity policies and employee commitment to these rules, underscoring the risks associated with shadow IT and unmanaged device usage in the workplace.

Shadow IT is defined as the use of unauthorised software, devices, or services without IT oversight, and it has evolved into a critical business risk. While often driven by employee productivity needs, it creates blind spots for IT departments.

The rise of hybrid work environments, increased reliance on cloud-based tools and the spread of AI tools have accelerated this trend. Without robust cybersecurity management and oversight, organisations face heightened exposure to ransomware attacks, data leaks, and regulatory penalties.

19% of survey respondents in the META region said there are no policies regarding the use of non-corporate devices in their company. 35% of employees admitted that they can use their own devices to access business information, provided they have some type of cybersecurity protection, even consumer-grade software.

On the positive side, 21% said they can use their own device, but these must first pass more stringent corporate IT security checks; while 25% of respondents indicated that only devices provided by the IT function can be used for work purposes.

The situation is significantly better with permissions for employees to install software on corporate devices without IT department’s approval. 50% reported that only IT specialists in their company are allowed to install software, while in 31% of organisations only top management or designated users can do so. 11% of employees can install software that is approved by the IT team. However, 8% of respondents said that all users can install any software they need without IT agreement in their organisation.

At the same time 21% of professionals surveyed acknowledged that within the past year they installed software on their work devices without IT supervision. That highlights a persistent shadow IT challenge that continues to expose organisations to security vulnerabilities, compliance risks, and data breaches.

“Shadow IT is now a mainstream operational risk. When one in five employees installs software without IT oversight, it signals a policy gap. Many organisations already have security policies in place, but employee perception must also be considered.

Organisations should move beyond restrictive controls and instead implement intelligent, user-centric cybersecurity strategies that combine strategies that integrate technology with employee awareness and responsible use,” said Toufic Derbass, Managing Director for the META region at Kaspersky.

 


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Microsoft Faces £1.7Bn Cloud Lawsuit in UK over Alleged Market Abuse

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Microsoft is facing a £1.7 billion ($2.3 billion) class action lawsuit in the United Kingdom over allegations that it abused its dominant market position in cloud computing.

Microsoft Faces £1.7bn Cloud Lawsuit in UK Over Alleged Market Abuse

Microsoft

The case, filed before the Competition Appeal Tribunal, was brought by Maria Luisa Stasi on behalf of about 59,000 British businesses and organisations. It alleges that Microsoft unfairly imposed higher costs on customers running its Windows Server software on rival cloud platforms.

Stasi said the company’s practices have had a significant financial impact on both public and private sector organisations over several years.

In allowing the case to proceed, the tribunal ruled that it has a “reasonable prospect of success.” The judges noted that Microsoft is alleged to have abused its dominance in the paid server operating system market to undermine competition in the cloud services space.

If the claim succeeds, compensation for affected organisations is estimated to range between £1.7 billion and £2.1 billion.

Microsoft has rejected the allegations and confirmed it will appeal the ruling. A company spokesperson said the decision does not represent a final judgment on the claims and that it disputes the substance of the case.

The lawsuit comes as regulators in the UK and the European Union intensify scrutiny of Microsoft’s cloud business practices. UK authorities are currently assessing whether the company should be designated as having “strategic market status,” a move that would subject it to stricter competition rules.


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