E-Business
Forex Scarcity Forces Firms to Host Servers Locally

The high exchange rate of the naira to dollar and other foreign currencies is positively impacting on desire of organizations in the country to host their internet information in foreign countries.
Nigeria CommunicationsWeek investigations revealed that relocation of website servers by private organizations to Nigeria data centres has recorded some three percent over the past one year citing high exchange rate which made payment for such service difficult for them.
Reacting to the development, Muhammed Rudman, managing director, Internet Exchange Point of Nigeria, said the movement is small compared to 100 percent of such server that were hosted abroad as at last year.
He cited some foreign information hosting companies that have started operation in the country in order to make it easier for organizations hosting with them to make use of their service in Nigeria.
He decried lack of patronage by big government agencies with huge information needed to drive data centre business in the country who are still hosting abroad.
“Even with efforts of office of local content under National Information Technology Development Agency (NITDA), aimed at encouraging local content in information technology such as local hosting of service, almost all government agencies internet information is hosted abroad.
“There are a lot of standard data centres in the country. We should position ourselves to become a regional IT hub in West Africa by empowering our data centres, if you have more data centres as Nigeria has huge number of internet users, it will attract other of her neighbours to host their contents in the country. There is no reason for us to host our information outside of this country,” he said.
He added that government can drive this vision through policies and implementation of such policies that will ensure that government agencies relocate their servers as well as some incentives for private sector businesses.
He added hosting servers abroad encourage capital flight as cost of such service will be paid in foreign currency; as well as create employment for foreigners at the expense of Nigerians.
“More so, if by any means there is cut or tsunami that damages undersea cable that provides connectivity between the host network and the ministry or agency, staff cannot communicate through the email,” he said
Engr. Sam Adeleke, chief executive officer of Steineng Nigeria Ltd and immediate past president, Internet Service Providers Association of Nigeria (ISPAN), identified some reasons why federal MDAs and others preferred hosting their servers abroad which include cost, according to him, it is cheaper to host abroad because power, security and bandwidth contribute to high cost in Nigeria.
Another factor he said is multiplicity of location of server, where most of the hosting companies abroad provider multiple location in case there is disaster in one location they will move to another location without their customers suffering downtime.
He added that continuity of business in Nigeria is not certain because of harsh business environment.
” Suggesting Galaxy backbone as alternative is risky because in as much as it is owned by government there is no guarantee that it will not collapse one day, as government is not good business man,” he said.
Among the MDAs whose website servers are hosted abroad to include, cbn.gov.ng which is hosted in USA, Ferma.gov.ng hosted in UK; National Health Insurance Scheme nhis.gov.ng hosted in USA; efcc.gov.ng hosted in USA; nuc.ed.ng hosted in UK; pfp.gov.ng hosted in USA; federal ministry of finance fmf.gov.ng hosted in USA; and ncc.gov.ng hosted in USA, among others.
E-Business
Nigeria Police Arrest Okitipi, Nigerian Allegedly Linked to Microsoft 365 Hack

Okitipi Samuel, a Nigerian man, has been taken into custody by the Nigeria Police Force for his alleged role in a global cyberattack on Microsoft 365 users.

Benjamin Hundeyin, Force public relations officer, disclosed this on Thursday in Abuja while briefing journalists on the outcome of investigations carried out by the National Cybercrime Centre of the Nigeria Police Force.
Hundeyin said the centre, under the leadership of Ifeanyi Uche, its director and Commissioner of Police, commenced investigations in collaboration with Microsoft, the Federal Bureau of Investigation, the United States Secret Service, and the United Kingdom’s National Crime Agency.
According to him, investigations revealed that a phishing toolkit known as “Raccoon 0365” was used to create fake Microsoft login portals to harvest user credentials and unlawfully access email accounts belonging to corporate organisations, financial institutions, and educational institutions in several countries.
“This investigation commenced following credible intelligence received from Microsoft USA through the FBI, indicating that a malicious phishing toolkit known as Raccoon0365 was being used to create fake Microsoft login portals, harvest user credentials, and unlawfully access the email accounts of corporate organisations, financial institutions, and educational establishments,” Hundeyin said.
He added that between January and September 2025, several reports of unauthorised access to Microsoft 365 accounts were traced to phishing emails designed to mimic legitimate Microsoft login pages, enabling business email compromise, internal phishing, data breaches, and other cyber-enabled fraud.
Hundeyin said digital forensic analysis and cryptocurrency tracing identified wallets connected to the illegal operation.
He noted that operatives were deployed to Lagos and Edo states, leading to the arrest of three suspects identified as Joshua, James, and Okitipi Samuel between September 20 and October 4, 2025.
“Following extensive digital forensic and technical intelligence analysis, the centre conducted cryptocurrency tracing that identified suspicious wallets connected to cash-out schemes.
“Acting on actionable intelligence, operational teams were deployed to Lagos and Edo states, resulting in the arrest of Joshua, James, and Okitipi Samuel. Searches at their residences led to the recovery of mobile devices, laptops, and other digital exhibits linked to the fraudulent scheme,” he said.
Hundeyin identified Okitipi Samuel, also known as “0365” and Moses Felix as the principal suspect and developer of the phishing infrastructure.
He added that investigations confirmed Samuel unlawfully used the email details of one of the arrested individuals without consent to register some of the accounts used in the operation.
The police spokesperson said further investigations revealed that the identities of Joshua and James were used without their consent.
“There was no evidence linking them to the creation or operation of the phishing scheme. They were victims of identity theft,” Hundeyin said.
He said a prima facie case had been established against Samuel for identity theft, unlawful access to computer systems, creation and distribution of malicious software, unauthorised interference with network data, and aiding and abetting fraud.
Hundeyin added that the suspect would be charged under relevant provisions of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024.
He said the suspect would be prosecuted in Nigeria, noting that the country has the capacity to enforce its cybercrime laws, although extradition could be considered if formally requested through due process.
Hundeyin assured Nigerians that the police, under the leadership of Kayode Egbetokun, inspector-general of Police, would continue to protect the country’s digital ecosystem and urged citizens to practise good cyber hygiene by being cautious when clicking links and sharing personal information online.
Speaking separately, Ifeanyi Uche, director of the National Cybercrime Centre, urged Nigerians to exercise caution online.
Uche advised members of the public to avoid clicking on links from unknown or unexpected sources, noting that such links often contain malware or phishing tools designed to compromise devices and personal data.
He warned that indiscriminate clicking of links or responding to unsolicited emails could lead to unauthorised access to personal and corporate accounts, urging citizens to “wash their cyber hands” by verifying sources before taking action online.
E-Business
Nigeria Takes the Lead in the Global WSIS+20 Digital Agenda

Nigeria has unveiled a comprehensive, multi-pronged strategy designed to localise WSIS+20 commitments. This roadmap accelerates national transformation by prioritising robust infrastructure, transparent internet governance, and advanced cybersecurity through deep stakeholder collaboration.

Unveiled in New York at the Nigerian high-level side event titled “Re-Imagining Digital Cooperation for Sustainable Development: From WSIS+20 Vision to Local Action,” the strategy cements Nigeria’s position as a primary architect of the world’s digital future.
Speaking at the event, the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, CCIE represented by Director, Corporate Planning and Strategy, Dr. Dimie Shively Wariowei said Nigeria’s approach is deliberately aligned with the four core activity areas identified under the ongoing WSIS+20 review process.
According to him, the focus areas provide a practical framework for translating global digital commitments into measurable national outcomes, ensuring that international resolutions drive inclusive growth and sustainable digital development at the country level.
Inuwa identified digital infrastructure as the foundation of effective localisation, noting persistent challenges in extending connectivity to underserved and remote communities. Beyond infrastructure gaps, he highlighted affordability constraints and digital literacy deficits, stressing that addressing these issues remains central to Nigeria’s digital inclusion drive.
He explained that government alone cannot shoulder the burden of nationwide digital infrastructure deployment, given Nigeria’s vast geographical spread, hence the adoption of collaborative Public-Private Partnership (PPP) models. He disclosed that Nigeria, in collaboration with the World Bank, is implementing a major fibre-optic project spanning about 90,000 kilometres nationwide to boost connectivity.
The NITDA DG also revealed that the current National Broadband Plan, which has guided broadband expansion in recent years, is nearing completion, with plans underway to renew and reposition it for the next five years. The renewed plan, he said, will strategically target increased broadband penetration as a catalyst for digital access and economic growth.
On internet governance, Inuwa referenced Nigeria’s active participation in the Internet Governance Forum (IGF), noting that the country successfully hosted its annual national IGF. He said the forum operates on a multi-stakeholder model that brings together government, the private sector, civil society and the technical community to foster cooperation and informed policy dialogue.
Cybersecurity, he added, remains a critical pillar of Nigeria’s localisation efforts. He cited the existing Cybersecurity Act and ongoing efforts to strengthen the legal framework through a reviewed version currently awaiting parliamentary approval. These measures, he said, are designed to mitigate risks associated with increased internet use and to protect users and critical digital infrastructure.
Inuwa further stressed Nigeria’s ambition to play a leadership role in advancing digital cooperation across Africa through inclusive, multi-stakeholder engagement. He underscored the importance of coordinated national data collection, noting that reliable, country-specific data is essential for tracking progress and presenting Africa’s digital development story on the global stage.
He concluded that sustained engagement and follow-up actions arising from the WSIS+20 review would strengthen digital cooperation among African countries and ensure that global digital commitments translate into tangible national and regional impact.
Stakeholders commended Nigeria’s efforts in the digital space, acknowledging the country’s growing role in shaping Africa’s digital future.
Earlier, Ms. Jennifer Chung, Co-Convener of the Informal Multi-Stakeholder Sounding Board (IMSB), praised Nigeria for convening a broad-based, multi-stakeholder delegation and for its commitment to the meaningful implementation of WSIS+20 outcomes.
Chung stressed the growing demand for localised WSIS follow-up mechanisms, noting that platforms such as the annual IGF, National and Regional IGF Initiatives (NRIs), and youth-led forums are vital for tracking progress towards the 2030 Agenda and Africa’s Agenda 2063.
She described the WSIS+20 review as a critical step toward effective monitoring, reliable data collection and evidence-based evaluation, particularly for developing countries in the Global South. According to her, these measures are essential to achieving WSIS targets and ensuring that no region is left behind.
Drawing parallels with the Asia-Pacific region, Chung noted that challenges around affordable and meaningful connectivity remain widespread across developing economies. She emphasised that expanding broadband penetration and reducing the cost of access are crucial to closing digital divides in Africa, Asia-Pacific and other parts of the Global South.
She also highlighted the need to enable active citizen participation in emerging technologies, including artificial intelligence and future innovations such as quantum technologies, stressing that inclusive digital access is key to maximising the benefits of digital transformation.
Reflecting on the WSIS+20 review process, Chung praised the innovative and inclusive approach adopted through the informal multi-stakeholder sounding board, describing it as one of the first of its kind in global digital governance. She called for sustained collaboration among governments, the private sector, civil society and the technical community to carry the WSIS vision from global commitments to local action.
E-Business
UBA Partners CIG Motors, Lagride, Launches $100m “Drive to Own” Scheme

United Bank for Africa (UBA) Plc has announced a $100 million financing partnership with CIG Motors, Lagride and the Lagos State Government to promote urban mobility and financial inclusion through a scheme tagged “Drive to Own.”

Group Managing Director/CEO, United Bank for Africa(UBA) and, Chairman, LagRide, Chief Diana Chen, flagged by LagRide drivers, at the signing ceremony of $100 Million Expansion Facility, strengthening smart mobility, driver asset ownership of over 3,500 cars, financed by UBA in partnership with Lagos State Government and LagRide, held in Lagos on Tuesday.
The initiative, unveiled on Wednesday in Alausa, Lagos, will empower 3,500 drivers in the state by enabling them to own vehicles with an equity contribution of 10 per cent of the total cost, while the balance is payable over 48 months.
UBA’s Group Managing Director/CEO, Oliver Alawuba, described the scheme as transformational, noting that it would foster inclusive economic growth, support MSME development and create opportunities for the younger generation.
“This partnership with Lagride is transformational. It will drive inclusivity for economic growth and ensure progress for everyone,” he said.
Alawuba shared a personal story, recalling that his father worked as a driver and was able to fund his education through that income. He said the scheme would provide similar opportunities for many families.
UBA’s Head of SME Banking, Babatunde Ajayi, said the partnership reflected a rethinking of traditional banking models.
“Not every business has a shop. Some businesses have wheels. Every commercial driver is running a business, yet they have remained outside formal finance. We designed credit that fits their reality,” he said.
Chairman of Lagride, Diana Chen, said the company had built a data-driven and credit-ready mobility platform for drivers, stressing that transportation remained the backbone of Africa’s economic future.
“Lagride now stands as the most structured, data-driven and credit-ready mobility platform in Nigeria,” Chen said.
The partnership aligns the strengths of the three organisations, with UBA providing financial support, CIG Motors offering viable business opportunities, and Lagride delivering a technology-driven platform to ensure sustainable livelihoods for driver-partners.
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