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E-Business

NGX Transitions X-FactBook to Digital Publication, Releases 2021 Edition

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Nigerian Exchange (NGX) Limited has released digital-only version of the 2021 edition of its annual Factbook (X-Factbook) yesterday, after 41 years in print.

The digital X-Factbook, available for purchase at its website, presents a completely new way for users to conveniently access comprehensive and diverse information on the Nigerian capital market.

X-Factbook is a compendium of capital market information designed to provide investors, market analysts, researchers and the wider capital market stakeholders with information on the profiles and historical financial performance of companies listed on NGX.

It also provides relevant information on trading activities on NGX and the various market participants across the investment value chain.

Individuals and institutions interested in X-Factbook now have the option of either subscribing to the complete Factbook or subscribing to just the section of interest. While modular purchase allows readers to access a specific sector of the economy as applicable at a cost ranging from N2,000 to N3,000; the complete e-book provides a compendium of all sectors at a cost of N5,000.

Speaking on the release of the digital factbook, Mr. Temi Popoola, CFA, the Chief Executive Officer, NGX, stated, “At NGX, we are dedicated to developing and improving the digital experience for our stakeholders. The transformation of X-Factbook from print to digital aligns with our commitment to providing and enhancing access to quality market information.

With the current climate where companies and individuals have transitioned to a more digitally-inclined mode of working and accessing information, it is fitting that we are introducing our first online Factbook at this time. We believe that X-Factbook will serve to complement other platforms for accessing information at NGX.”

On his part, Mr. Jude Chiemeka, the Divisional Head, Trading Business, noted that “in operating as a demutualised entity, we continue to prioritise the timely provision of quality market information to support the investment process.

That is why this foremost post-demutualisation edition of X-Factbook has been made easily accessible to investors across the globe to showcase the existing and potential opportunities in the Nigerian capital market. We are confident that this edition of X-Factbook will be an invaluable resource to the investing community and will continue to promote investor education in our market.”

Leveraging digital technology for ease of access, X-Factbook provides investors, researchers, media, and other capital market stakeholders with desired insights into the operations of the Nigerian capital market, including listed securities. It further ensures that companies listed on NGX remain visible and that NGX remains positioned as a preferred investment destination.


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E-Business

Nigeria Among Hotspots as Kaspersky Warns of Rising Ransomware Threat in Africa

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Cyber security firm, Kaspersky, has once again warned that sophisticated cybercriminals increasingly target Africa as ransomware and advanced persistent threats (APTs) escalate across the region.

Speaking at the company’s annual Cyber Security Weekend for the Middle East, Turkiye and Africa (META) region, the cybersecurity firm’s Global Research and Analysis Team highlighted growing digital threats affecting African nations.

Kenya, Nigeria, and South Africa emerged as hotspots, with Kenya recording one of the highest web threat incident rates at 20.1% in first quarter 2025.

“While ransomware is less prevalent in Africa due to lower levels of digitisation and economic constraints, countries like South Africa and Nigeria are seeing a sharp rise in attacks,” said Sergey Lozhkin, head of META and APAC regions at Kaspersky.

Kaspersky noted a 0.01 percentage point increase in African ransomware cases year-on-year, reaching 0.41%, still below global and Middle Eastern averages, but a troubling sign for the continent’s emerging digital infrastructure.

Experts warned that attackers are refining their tactics, shifting focus to unconventional entry points like IoT devices, smart appliances, and misconfigured hardware.

“As these economies expand digitally, sectors such as manufacturing, finance and government are becoming key targets,” said Lozhkin

The cyber-crime landscape is evolving quickly, fuelled by AI tools and dark web access to large language models, which enable less skilled actors to launch convincing phishing and malware campaigns.

Groups like FunkSec, which uses AI-generated code and a low-cost ransom model, are redefining ransomware operations.

“African organisations face the dual challenge of expanding digital footprints and limited cybersecurity awareness. This makes layered defense strategies, including network segmentation, real-time monitoring and regular staff training, essential,” stated Lozhkin

Kaspersky continues to monitor 25 active APT groups in the META region, including SideWinder and MuddyWater, some of which are known to target African institutions.

To bolster defenses, the firm recommends using tools such as its free Anti-Ransomware Tool for Business and the Kaspersky Next suite for threat visibility and response.

 


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Nigeria Launches Cybercrime Team with Commonwealth, UK Support

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Nigeria recently launched a new joint case team to step up its response to cybercrimes that affect people and businesses at home and abroad.

Nigeria Launches Cybercrime Team with Commonwealth, UK Support

The ‘Joint Case Team on Cybercrime’ brings together Nigeria’s key justice and security agencies to work as one, making it easier to detect, investigate, and prosecute digital offences.

It is supported by the UK National Crime Agency, the UK Foreign, Commonwealth and Development Office, and the Commonwealth Secretariat, as part of a wider effort to promote international cooperation on cybercrime.

Speaking at the launch in Abuja, Prince Lateef Fagbemi SAN, minister of justice and attorney general of the federation described the initiative as “a bold and transformative stride in Nigeria’s justice system.”

He said that although Nigeria has a national legal framework to address cyber offences, laws alone are not enough.

Nigeria is among the countries most affected by cybercrime around the world, with increasing financial losses.


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INEC Sets Up AI Division to Strengthen Electoral System

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Independent National Electoral Commission (INEC) has announced the establishment of an Artificial Intelligence (AI) Division within its ICT Department.

INEC Sets Up AI Division to Strengthen Electoral System

This marks a significant stride toward enhancing electoral integrity, efficiency, and innovation in Nigeria’s democratic process.

This decision was reached at the Commission’s regular weekly meeting held in Abuja, following a series of consultations and engagements on the global and continental impact of AI on elections.

In a statement issued by Sam Olumekun, national commissioner and chairman of the Information and Voter Education Committee, INEC underscored that the growing relevance of AI in electoral matters necessitated a proactive institutional framework to manage both the risks and opportunities it presents.

“Our interactions with electoral bodies across Africa highlighted both the risks of AI—such as fake news and content manipulation—and the vast potential it holds for data-driven decision-making, risk mitigation, automated voter services, and geo-spatial intelligence for logistics,” Olumekun noted.

According to him, the newly created division will centralise the Commission’s AI efforts, ensuring a harmonized approach to deploying intelligent systems that enhance decision-making, improve voter engagement, and boost the credibility of the electoral process.

“The creation of this division puts the Commission at the forefront of institutionalizing AI capabilities in electoral management.

It is also part of our ongoing reforms in areas where administrative action is sufficient to drive change,” he said.

He added that the AI Division will help INEC better coordinate its existing technological investments while providing safeguards against the misuse of AI technologies.

“We are positioning ourselves to maximise the positive impact of AI while mitigating its negative implications. This step strengthens the credibility and transparency of elections in Nigeria,” Olumekun concluded.

The initiative, INEC emphasised, reflects its commitment to embracing innovation in safeguarding democracy and improving electoral services nationwide.

 

 

 

 


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