E-Business
Nigerian Businesses Record 2,308 Cyber Attacks Weekly – Report

Worldwide, the number of attacks experienced per business each week is 870 on average – alarmingly, in Nigeria, this weekly figure is 2 308 across all industry sectors collectively. The more-granular per-industry analysis reveals this figure is higher still for businesses in the finance and banking sector.

Finance and banking under siege
Mobile banking is one of the fastest growing sectors in the country. In fact, between May 2019 and May 2020, mobile payments grew by an incredible 391%. Financial inclusion, largely enabled by smart mobile solutions, has done much to drive Nigeria’s economy.
However, cybercriminals are taking notice of this increasing reliance on mobile devices, exploiting the rapidly expanding finance sector.
Of all Nigerian businesses across sectors from health to education, the most targeted is finance and banking. “Over the last six months, the number of attacks against these institutions in Nigeria was 3 682 per week, while globally, this figure is far lower at 774,” says Pankaj Bhula, Check Point Software Technology Regional Director for Africa. “To protect this booming industry, more must be done to drive awareness around cybersecurity.”
The report also revealed that, over the past six months, 62% of Nigeria’s businesses fell victim to Remote Code Execution (RCE) attacks, making this the top class of vulnerability exploits.
A cybercriminal can gain remote control to a device and the private data stored on it in an RCE attack. Considering the most targeted sector is finance, which holds a wealth of sensitive user data, the rise of RCE attacks is concerning.
Social engineering and deepfakes: 2022’s challenges
Check Point Software Technologies forecast several alarming cyber-threat trends for 2022, including the weaponisation of deepfake technologies by cybercriminals to create fake news campaigns as part of elaborate phishing attacks, predominantly carried out over email.
In fact, in Nigeria, email was recorded as the origin point for 60% of cyberattacks over the last month, according to the report. As it’s the prevailing vector for delivery of malicious files, awareness around social engineering attacks like these must be bolstered.
On the topic of deepfake technologies, Remi Afon, president of the Cyber Security Experts Association of Nigeria, reiterated that it’s a huge area of concern in 2022. While the technology can be leveraged by criminals to scam and dupe victims, a more insidious purpose is using deepfakes to create political instability and scandal.
For Afon, this technology and the resulting spread of misinformation could have far-reaching ramifications for Nigeria’s 2023 General Election, to be held next February.
Protecting Nigeria’s businesses from attacks
In November, 20% of businesses in Nigeria were impacted by an info stealer called Floxif. This malware, which was also responsible for the bulk of malware attacks in Kenya, caused large-scale devastation to even large tech companies in 2017 when it infected over 2 million users.
While big businesses may seem like more lucrative targets, the increasing prevalence of Floxif attacks on companies of all sizes shows that cybercriminals do not discriminate. Smaller companies must remain as vigilant as large enterprises.
To do this, it’s crucial that budgets are earmarked for effective IT security infrastructure that will enable a proactive rather than reactive approach to cybercrime. Proactive businesses are more resilient, have backups, and can protect sensitive data in stronger or more innovative ways.
These companies also run the latest updates of their security software, web browsers, and operating systems to ensure any new vulnerabilities are patched to protect against attacks.
Of course, people are a large part of the cybersecurity equation. As such, businesses must equip staff with information on best practices for staying safe online when working in the office or remotely.
Such information would promote vigilance around phishing emails and encourage the use of password managers and trusted Wi-Fi networks, while highlighting the dangers of accessing unsecured websites.
With the right security solutions in place, and a focus on cybersecurity awareness kept top of mind, businesses can prevent cyberattacks to keep Nigeria’s economy on track.
E-Business
Kaspersky Warns of a New Phishing Technique Leveraging Bubble, a no-code AI Platform

Kaspersky has discovered a new phishing tactic used to evade traditional security controls that exploits Bubble, a platform that allows users to build web and mobile applications through a visual interface without writing code.

Attackers are increasingly adopting innovative tools designed for legitimate software development and repurposing them to boost phishing campaigns.
Traditional phishing attacks often rely on malicious links or obvious redirection techniques, which are typically flagged and blocked by modern security systems.
However, attackers are now leveraging Bubble’s no-code environment to generate intermediary web applications which are hosted on Bubble’s legitimate infrastructure and trusted domains such as *.bubble.io, which improves their credibility and helps them bypass security filters.
These applications function as disguised redirectors, silently forwarding victims to malicious credential-harvesting websites.
In the observed campaign, victims were ultimately redirected to a convincing imitation of a Microsoft login page, protected by a Cloudflare verification layer designed to further obscure malicious intent.
This technique is likely being integrated into broader phishing-as-a-service (PhaaS) platforms and phishing kits. These kits enable a wide range of malicious capabilities with ready-made tools, including real-time interception of session cookies, driving phishing campaigns through legitimate services such as Google Tasks and Google Forms, and carry out adversary-in-the-middle (AiTM) attacks that can bypass multi-factor authentication.
They also support the generation of phishing emails using AI, implement geo-filtering and anti-detection mechanisms to evade security crawlers and are often hosted on reputable cloud services like AWS to avoid blacklisting.
“The use of legitimate platforms like Bubble introduces a new level of trust abuse, making it harder for both users and automated systems to distinguish between safe and malicious content. This significantly increases the likelihood of credential theft, unauthorised access and potential data breaches,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.
E-Business
NITDA Takes Over National Digital Architecture System

Nigeria has taken a major step toward strengthening its digital governance framework as the National Information Technology Development Agency (NITDA) officially assumes control of the Nigeria Government Enterprise Architecture (NGEA) infrastructure.

The handover ceremony held in Abuja, marks the culmination of a high-level partnership with the Korea International Cooperation Agency (KOICA).
This transition signals a shift from fragmented IT projects to a unified, disciplined approach to national digital investment.
The NGEA initiative forms a core part of the e-Government Masterplan 2.0 (Ne-GMP 2.0), aimed at establishing a unified and structured approach to managing government IT investments and digital resources.
The framework is designed to ensure that technology deployment across public institutions aligns with national priorities while improving efficiency and accountability.
With the system now operational, government agencies are expected to adopt more integrated digital processes, allowing seamless data sharing and interoperability.
This is anticipated to reduce duplication, strengthen risk management, and translate policy objectives into measurable digital outcomes.
Over the past two and a half years, Nigerian technical experts worked closely with their Korean counterparts to develop the architecture framework, create reference models, and execute pilot programmes in key institutions.
These include the National Identity Management Commission, Nigeria Customs Service, Nigeria Immigration Service, and NITDA.
Officials say the NGEA represents a shift from fragmented digital efforts to a more coordinated, citizen-focused system.
The infrastructure is hosted by Galaxy Backbone Limited, providing a secure and reliable platform for nationwide deployment.
Looking ahead, NITDA is expected to work with government stakeholders to expand and sustain the system, while the Federal Ministry of Communications, Innovation and Digital Economy will provide policy guidance to ensure its adoption across the country.
E-Business
FG Shifting Focus to “Meaningful Connectivity” to Drive Inclusion – Minister

Bosun Tijani, minister of Communications, Innovation and Digital Economy, has said the government is shifting focus from expanding access to ensuring “meaningful connectivity” that drives economic growth and inclusion.

Bosun Tijani, minister of Communications, Innovation and Digital Economy
The minister made the statement on Friday while addressing stakeholders at the inauguration of board members of the Universal Service Provision Fund (USPF) in Abuja.
He said that although Nigeria had made significant progress since the introduction of GSM services, millions of people, particularly in rural and underserved communities, remain either unconnected or unable to fully benefit from digital services.
Dr Tijani highlighted ongoing investments in digital infrastructure, including plans to deploy 90,000 kilometres of fibre optic network and nearly 4,000 telecom towers nationwide.
He said initiatives under the USPF had improved access through projects such as rural connectivity and digital facilities in schools but stressed that the next phase must prioritise effective usage.
“It is not enough to connect a community. We must ensure that schools can teach with digital tools and that small businesses can access market opportunities,” he said, citing a pilot project in the Kura community where connectivity has enhanced access to communication, education and healthcare.
Aminu Maida, executive vice chairman, Nigerian Communications Commission (NCC) also called for a shift towards meaningful connectivity, noting that while data usage had grown significantly, it remained concentrated in urban areas.
According to him, recent data shows that telecom usage has increased by about 160% over the past two years, largely driven by urban demand.
“When we drill down, we see that a lot of that growth is actually in urban centres. So, the gap between those who are not connected or not meaningfully connected is growing,” he said.
Dr Maida added that the trend underscored the need for the USPF board to intensify efforts to bridge both access and usage gaps across the country.
Both officials emphasised the importance of collaboration, sustainable investment models and improved digital literacy to ensure that connectivity translates into real economic benefits for Nigerians.
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