Telecom
NCC Sharpens Strategy to Combat Financial Frauds

In fulfillment of one of its fundamental statutory responsibilities of protecting the interests of the consumers of telecoms services, the Nigerian Communications Commission (NCC) on Wednesday inaugurated a multi-sectoral committee to develop a Memorandum of Understanding (MoU) on financial frauds also called electronic fraud (e-fraud) which are perpetrated through digital platforms.
The committee, inaugurated in line with resolutions reached at a stakeholder forum on financial fraud organised by the NCC earlier this year, is set to harmonise the activities of critical stakeholders responsible for combating financial fraud committed through telecommunications platforms.
Inaugurating the committee in Abuja, Prof. Umar Danbatta, executive vice chairman (EVC) of NCC, said the inauguration of the committee is further demonstration of Commission’s commitment to forge necessary strategic collaboration with other government agencies, industry players and other necessary stakeholders towards addressing critical industry issues for the benefit of all.
Danbatta, who was represented at the forum by Adeleke Adewolu, executive commissioner, Stakeholder Management at NCC, stated that with the attainment of 35.4 percent broadband penetration, there has also been an increase in financial services.
Expectedly, mobile platforms and applications have become the most common channels for conducting financial and other sundry transactions.
The EVC, however noted that, as the uptake of these alternative channels grows, so have incidences of malevolent use of technology and attendant heavy losses suffered by consumers and other key stakeholders.
“Cybercriminals, hackers and other unscrupulous elements are exploiting online platform vulnerabilities to gain illegal access to bank accounts through phishing and other ploys such as fraudulent SIM swaps to bypass authentication security levels, regardless of whether the transactions are conducted via mobile phones, desktop browser, or on point of purchase,” Danbatta said.
The 26-man committee draws membership from the Central Bank of Nigeria (CBN), the NCC, Federal Competition and Consumer Protection Commission (FCCPC), Nigerian Inter-Bank Settlement System (NIBSS), National Identity Management Commission (NIMC) and the Association of Licensed Telecom Operators of Nigeria (ALTON).
Other organisations with representation on the Committee include the banks, security agencies such as the Office of the National Security Adviser (ONSA), the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices other Related Offences Commission (ICPC), Nigeria Police Force (NPF), Nigeria Financial Intelligence Unit (NFIU) and the Federal Ministry of Justice.
Telecom
Sophos Report: Identity Attacks Drive 67% of Cyber Incidents as Threat Groups Surge in 2025

Sophos, a global leader of innovative security solutions for defeating cyberattacks, today released the 2026 Sophos Active Adversary Report.

John Shier
It reveals that 67% of all incidents investigated by Sophos Incident Response (IR) and Managed Detection and Response (MDR) teams last year were rooted in identity-related attacks.
The findings highlight how attackers continue to exploit compromised credentials, weak or missing multifactor authentication (MFA), and poorly protected identity systems, often without needing to deploy new tools or techniques.
Key findings include:
- A shift from exploited vulnerabilities toward compromised credentials, with brute-force activity (15.6%) drawing almost level with exploitation (16%) as an initial access method
- Median dwell time declined to three days. This was driven by attackers’ movements, but also by defenders reacting more swiftly. This was particularly notable in MDR environments.
- Attackers are getting faster at reaching Active Directory (AD). Once an attacker is inside an organization it takes them just 3.4 hours to get to the AD server.
· Ransomware remains a firmly off-hours activity. 88% of ransomware payloads are deployed out of hours, and 79% of data exfiltration actions take place out of hours, emphasising the continued need for 24/7 coverage.
- Lack of telemetry undermines defense efforts. Missing logs due to data retention issues doubled over last year. This rise was largely driven by firewall appliances where the default was only seven days, and in some cases, 24 hours.
Identity Attacks Accelerate While MFA Gaps Persist
The report shows a continued rise in attacks rooted in identity compromise, including stolen credentials, brute-force activity, and phishing.
While exploited vulnerabilities remain a factor, attackers increasingly rely on valid accounts to gain initial access, allowing them to bypass traditional perimeter defenses.
There was also a lack of MFA in 59% of cases, facilitating the abuse of stolen and compromised credentials to penetrate an organization.
“The most concerning finding in the report has actually been years in the making: The dominance of identity-related root causes for successful initial access.
“Compromised credentials, brute-force attacks, phishing, and other tactics leverage weaknesses that can’t be addressed by simple patch hygiene. Organizations must take a proactive approach to identity security,” said John Shier, Field CISO and lead author of the report.
More Threat Groups, Broader Risk
Sophos researchers observed the highest number of active threat groups recorded in the report’s history, expanding the overall threat landscape and increasing the challenge of attribution.
- Akira (GOLD SAHARA) and Qilin (GOLD FEATHER) were the most active ransomware brands observed, with Akira dominating across 22% of incidents
- 51 ransomware brands appeared across cases, including 27 returning brands and 24 new ones
- Only four brands or techniques, LockBit, MedusaLocker, Phobos, and abuse of BitLocker, have persisted continuously since 2020, the first year of Active Adversary Report data
“Law enforcement action continues to cause disruption in the ransomware ecosystem. Although we still see activity from LockBit, the dominance and reputation it once had has clearly been impacted.
“However, it means we are seeing a raft of other groups vying for dominance and many more emerging groups. For defenders, it’s important to understand the groups and their TTPs in order to best protect your organization,” continued Shier.
AI Hype Meets Reality
Despite widespread predictions, Sophos found no evidence of a major AI-driven transformation in attacker behavior. While generative AI has increased the speed and polish of phishing and social engineering, it has not yet produced fundamentally new attack techniques.
“AI is adding scale and noise but not yet replacing attackers. While in the future GenAI could be the next accelerator, right now the fundamentals still matter: strong identity protection, reliable telemetry, and the ability to respond quickly when something goes wrong,” said Shier.
Defensive Takeaways
Based on the findings of the 2026 Active Adversary Report, Sophos recommends organizations:
- Deploy phishing-resistant MFA and validate its configuration
- Reduce exposure of identity infrastructure and internet-facing services
- Patch known vulnerabilities promptly, especially on edge devices
- Ensure 24/7 monitoring through MDR or equivalent capabilities
- Preserve and retain security logs to support rapid detection and investigation
The 2026 Sophos Active Adversary Report analyzed 661 IR and MDR cases handled between November 1, 2024 and October 31, 2025, spanning organizations across 70 countries and 34 industries.
You can read the full report here[SE1] . https://www.sophos.com/en-us/blog/2026-sophos-active-adversary-report
Telecom
NDPC Urges Education Ministry to Prioritise Data Protection Compliance

Nigeria Data Protection Commission (NDPC) has urged the Federal Ministry of Education to ensure strict compliance with data privacy regulations across Nigeria’s education sector to protect personal information and bolster the nation’s digital infrastructure.

NDPC
National Commissioner and Chief Executive Officer of NDPC, Dr. Vincent Olatunji, issued the call during a working visit to the Minister of Education, Dr. Tunji Alausa, and the Minister of State, Dr. Suwaiba Said Ahmad.
Dr. Olatunji highlighted a significant compliance gap in how educational institutions manage sensitive data, noting that while data underpins President Bola Tinubu’s Renewed Hope Agenda, adherence to protection laws remains low in the sector.
“The significance of data protection cannot be overemphasized as Nigeria transitions to a digital economy,” Dr. Olatunji stated, calling on the Ministry to lead efforts in regulatory compliance.
He outlined NDPC initiatives to raise awareness, including the Digital Privacy Awareness Campaign, Data Privacy Clubs in universities, the Secondary School Data Challenge, and the Adopt-A-School programme, which reached about 8,000 students during National Privacy Week.
The NDPC boss urged the Minister to leverage his office for sector-wide enforcement.
Dr. Olatunji offered free induction training for Ministry staff, Virtual Privacy Academy (VPA) vouchers, and spots in a free certification programme. A joint working group was established to drive implementation.
In response, Dr. Alausa acknowledged that data protection has often been approached with levity but affirmed alignment with the government’s goal of producing 50 million digitally literate citizens.
“It is high time all Ministries, Departments, and Agencies prioritise data protection,” Dr. Alausa said, pledging commitment to elevate schools and educational bodies to global standards.
Telecom
Grey Expands Cross-Border Banking with USD Accounts, USDC Support

Grey, a cross-border payments provider, has rolled out USD business accounts, bulk payments, and USDC stablecoin integration on one platform to streamline international transactions for emerging market firms.

Grey
The upgrade lets businesses open USD corporate accounts, collect from global clients, and execute payouts to 170+ countries—including bulk transfers—in minutes, slashing World Bank-noted 6-7% fees, multi-day delays, hidden charges, and forex opacity.
Idorenyin Obong, Co-founder and CEO of Grey said: “Global banking access lags for high-growth markets; we’re bridging that with faster, transparent money movement regardless of client location.”
COO Joseph Femi Aghedo added: “Unpredictable payments stall growth—Grey cuts friction for payroll, suppliers, and partners, now with USD and stablecoins for broader reach.”
Launched in Africa in 2020 with US, UK, Europe presence and recent Latin America/Southeast Asia expansion, Grey offers multi-currency accounts, cheap transfers, virtual USD cards, expense tools, and strong security.
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