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Google Dangles ₦75m on Nigerian SMBs

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Google on Thursday announced the opening of applications for the Hustle Academy SMB Fund, a ₦75 Million equity-free fund dedicated to amplifying the ambitions of Nigerian Small and Medium-sized Businesses (SMBs). This initiative, offering ₦5 Million to 15 Nigerian small business owners, cements Google’s unwavering commitment to cultivating entrepreneurial growth in Nigeria.

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Small businesses form the backbone of Nigeria’s economy, yet they consistently grapple with challenges, notably the perennial obstacle of securing vital funding. According to the World Bank, African SMBs face a staggering finance gap of $330 billion. Additionally, only 25% of SMBs in Africa have access to bank loans, a percentage that sharply contrasts the 50% observed in developed economies.

Google’s Hustle Academy, introduced in 2022, provides SMEs with business and management education, mentoring, and networking, with a particular emphasis on preparing them to package their businesses in order to raise the necessary capital to take their businesses to the next level. Since its inception, the program has graduated over 4,000 SMBs in Nigeria, with a notable 74% from the first year reporting marked business growth.

Building on the success and impact of the Hustle Academy initiative, the Hustle Academy Fund earmarks a N75 Million pool exclusively for Nigeria to support 15 investor-ready SMBs through non-dilute funding. This commitment is further enriched with tailored mentorship, ensuring these businesses are primed for success.

Mojolaoluwa Aderemi-Makinde, Head of Brand & Reputation, Sub Saharan Africa at Google, remarked, “The Hustle Academy Fund is a testament to the resilience and innovation of Nigerian small businesses, which are the backbone of our economy. We are hopeful that this fund will further empower them to succeed and drive economic growth, creating jobs and opportunities for all Nigerians.”

Echoing the sentiment, Sinmisola Nojimu-Yusuf, Product Marketing Manager and the Hustle Academy Program Lead at Google, said, “The Hustle Academy Fund provides SMBs with the resources and support they need to succeed. With equity-free funding, mentorship, and opportunities for increased visibility and networking, we are supporting SMBs to grow and thrive. We are committed to supporting the Nigerian entrepreneurial ecosystem, and the Hustle Academy Fund is a key part of that commitment.

To be eligible for the Hustle Academy SMB Fund, businesses must be Nigerian-founded, operating within Nigeria for 1-5 years, and have a clear and scalable business plan. They should have a track record of commitment to growth, operate in sectors aligned with the digital economy or have a digital enablement strategy, and, while not mandatory, previous participation in the Hustle Academy program is an added advantage.

Applications for the Hustle Academy Fund are open September 28 and will close on October 12th.

For detailed insights into the fund and application procedures, head to goo.gle/hustleacademyfund.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

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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