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Gartner Says Worldwide IoT Security Spending to Reach $348m in 2016

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Worldwide spending on Internet of Things (IoT) security will reach $348 million in 2016, a 23.7 percent increase from 2015 spending of $281.5 million, according to Gartner, Inc. Spending on IoT security is expected to reach $547 million in 2018.

Although overall spending will initially be moderate, Gartner predicts that IoT security market spending will increase at a faster rate after 2020, as improved skills, organizational change and more scalable service options improve execution.

“The market for IoT security products is currently small but it is growing as both consumers and businesses start using connected devices in ever greater numbers,” said Ruggero Contu, research director at Gartner.

“Gartner forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from 2015, and will reach 11.4 billion by 2018. However, considerable variation exists among different industry sectors as a result of different levels of prioritization and security awareness.”

The market for IoT security products is dependent on IoT adoption by the consumer and industry sectors. Endpoint spending will be dominated by connected cars, as well as other complex machines and vehicles, such as heavy trucks, commercial aircraft, and farming and construction equipment.

Gartner predicts that by 2020, more than 25 percent of identified attacks in enterprises will involve IoT, although IoT will account for less than 10 percent of IT security budgets.

Security vendors will be challenged to provide usable IoT security features because of the limited assigned budgets for IoT and the decentralized approach to early IoT implementations in organizations. Vendors will focus too much on spotting vulnerabilities and exploits, rather than segmentation and other long-term means that better protect IoT.

“The effort of securing IoT is expected to focus more and more on the management, analytics and provisioning of devices and their data. IoT business scenarios will require a delivery mechanism that can also grow and keep pace with requirements in monitoring, detection, access control and other security needs,” said Mr. Contu.

“The future of cloud-based security services is in part linked with the future of the IoT. In fact, the IoT’s fundamental strength in scale and presence will not be fully realized without cloud-based security services to deliver an acceptable level of operation for many organizations in a cost-effective manner. By 2020, Gartner predicts that over half of all IoT implementations will use some form of cloud-based security service.”

More detailed analysis is available in the report “Forecast: IoT Security, Worldwide, 2016.” More information on the outlook for IoT can be found in the Gartner Special Report “The Internet of Things,” which looks at the necessary steps to building and rolling out an IoT strategy.


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Jumia Tech Week 2026 Begins with Tech Deals on Smartphones, Electronics, and Everyday Technology

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Jumia Nigeria has announced the launch of Jumia Tech Week 2026, a two-week campaign offering customers access to discounted technology products across key categories, including smartphones, computing, home entertainment, and wearable devices.

Starting from March 2 to March 15, Jumia Nigeria’s Tech Week 2026 is themed ‘Tech Products for Less’ – a deliberate commitment by the e-commerce giant to drive down the cost of technology products for Nigerian consumers. The campaign offers significant price reductions across key product categories, enabling more Nigerians to access the devices they need at prices that reflect the company’s dedication to affordability and consumer value.

Jumia Tech Week will feature deals across a wide range of product categories, including mobile phones, computer systems and accessories, televisions and audio equipment, gaming products, home appliances, portable power solutions, health technology,, and wearable devices.

Customers will also have access to curated recommendations, including top smartphone deals, must-have accessories, gaming essentials, and home technology upgrades.

According to Temidayo Ojo, CEO of Jumia Nigeria, the campaign reflects Jumia’s broader commitment to making everyday technology more accessible to Nigerians.

“Technology has become an essential part of everyday life, and access to the right devices enables more people to participate fully in the digital economy,” said Ojo. “At Jumia, we remain focused on expanding access and improving the shopping experience as we continue to build Nigeria’s everyday retail destination.”

The campaign will include a range of customer engagement initiatives such as flash sales, brand days, anchor deals and interactive activities designed to enhance the online shopping experience.

Special highlight periods, described as Explosion Days, will take place on March 6 and March 13, featuring limited-time offers across selected technology categories. Customers will also be able to participate in interactive activities, including product-based games, treasure hunts,, and live shopping sessions during the campaign period.

The campaign will feature participation from leading brands including Oraimo, Silver Crest, Samsung, Ecoflow, Nivea and Aeon, offering customers a wide selection of technology, household and lifestyle products. Early access promotions already begun during the teaser period from February 16 to March 1, allowing customers to preview selected deals ahead of the official launch.

Jumia Tech Week forms part of the company’s broader strategy to expand e-commerce adoption by improving access to essential products and enhancing the customer experience across its platform. As Nigeria’s e-commerce market continues to grow, Jumia remains focused on strengthening its product assortment, logistics capabilities, and digital experience to serve customers better nationwide.

Customers can participate in the campaign by using the Jumia mobile app or visiting the Jumia website and following the conversation online using #JumiaTechWeek.

 


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House Queries NDIC: ₦5m Max Payout for Failed Bank Depositors

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Nigeria Deposit Insurance Corporation (NDIC) pays between ₦2 million and ₦5 million as deposit insurance to customers of liquidated banks, Managing Director Thompson Oludare Sunday told the House Committee on Insurance and Actuarial Matters during 2026 budget defence.

House Queries NDIC: ₦5m Max Payout for Failed Bank Depositors

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House Spokesperson Akin Rotimi Jr sought details on depositor entitlements, citing Heritage Bank’s June 2024 collapse and public concerns over financial confidence.

Sunday explained NDIC’s mandate: banks pay risk-based premiums (now under 1%, down from 15/16 of 1%) to guarantee deposits. Coverage is ₦5 million for deposit money banks, primary mortgage banks (PMBs), and microfinance banks (MMOs); ₦2 million for other financial institutions.

Using BVN, NDIC auto-pays guaranteed sums without visits for amounts up to the limit. For Heritage, post-revocation, NDIC liquidated assets—selling buildings, recovering loans, realizing investments—and paid a second ₦24.63 billion dividend on January 6.

“Anything above ₦5 million or ₦2 million depends on recoveries,” Sunday said, noting ongoing asset sales and debt chases.

Committee Chairman Ahmed Jaha Babawo commended the clarity, noting the limit rose from ₦500,000 to ₦5 million recently. Over 90% of Heritage depositors got insured sums in under four days, meeting International Resolution Deposit (IRD) standards.

Babawo added liquidation dividends would be discussed in executive session.


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Kaspersky Discovers New Phishing Campaign Exploiting Google Tasks Notifications to Steal Corporate Credentials

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Kaspersky has uncovered a new phishing scheme that abuses legitimate Google Tasks notifications to trick corporate users into revealing corporate login credentials.

By leveraging Google’s trusted @google.com email domain and notification system, attackers bypass traditional email security filters and exploit users’ trust in familiar services.

In this campaign, victims receive an authentic-looking notification from Google Tasks with the subject line “You have a new task.” The message creates the illusion that the recipient’s company has adopted Google’s task management tool, pressuring them to act quickly. The notification often includes elements of urgency, such as a high-priority flag and a tight deadline, to prompt the victim’s immediate response.

Upon clicking the embedded link, users are directed to a fraudulent form disguised as an “employee verification” page, where they are asked to enter their corporate credentials under the pretense of confirming their status. These stolen credentials can then be used for unauthorised access to company systems, data theft, or further attacks.

“Google’s vast ecosystem of services gets exploited by scammers. The scheme with Google Tasks is part of a broader trend observed before and continuing into 2026, where cybercriminals misuse legitimate platforms to distribute scams and phishing.

Notifications originating from legitimate domains naturally evade many spam and phishing filters, while the social engineering aspect – making it seem like an internal company process – lowers the victim’s guard,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.

 


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