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Nigerian Cyber crime Net Widens

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Africa, as a continent, is vulnerable to a plethora of Internet threats, from financial fraud and malware distribution to terrorism, drugs and human trafficking.

With 67 million Internet users as of May, Nigeria is often in the spotlight when it comes to cyber crime.

This surge in Internet usage has brought with it multiple threats. Criminals are creative, have persuasive skills and are adaptive adversaries. They have easy access to the Web to cast their criminal nets wider than ever, said Abdulkarim Chukkol, head of the Advance Fee Fraud and Cybercrime Section Economic and Financial Crimes Commission (EFCC) in Nigeria. He spoke at ITWeb Security Summit 2015, in Midrand.

The EFCC is a Nigerian law enforcement agency that investigates financial crimes, such as online fraud.

Who are the perpetrators in Nigeria? He asked. “They are all global citizens. They work individually or in small cells, they are highly mobile and loosely organised, and our field experience show they are repeat, unrepentant offenders.”

According to Chukkol, some of the biggest threats Nigeria faces include phishing – targeting mostly financial institutions – with infections usually occurring via a man-in-the-middle e-mail attack. He said his organisation has also seen an increase in data breaches and insider abuse by employees and contract staff, largely due to a lack of segregation of duties.

“I believe the volume of cyber crimes will continue to grow and the chances of catching the criminals will be much less.”

Chukkol said most attacks seen by the EFCC are not highly technical. “Businesses spend a fortune on hardening their systems, but all it takes is one piece of malware to get through their defences.”

In terms of the victims, he said most are Nigerians. “This includes individuals, both locals and foreigners, financial institutions that are 100% reliant on critical infrastructure, and small businesses, which don’t care as much about IT security. They take risks to become bigger players, and have a ‘this won’t happen to me’ mentality.”

According to Chukkol, the methods Nigerian cyber criminals use to launder the ill-gotten gains of cyber crime are advanced too, and the increased use of electronic banking systems and e-commerce have seen a rise in efforts to defraud both individuals and corporate organisations.

In Nigeria, each sector of the economy formulates its own policy to safeguard itself, and there are also policies and guidelines formulated for the industry by the appropriate regulatory agencies, he noted. These are aimed at improving knowledge, capabilities, decision-making and addressing priority areas.

“Even though government is taking steps to boost its cyber security and catch and prosecute cyber crooks, much more needs to be done,” said Chukkol. “There have been several mechanisms put in place to share information and facilitate co-operation between national authorities and the private industry, and Nigeria has successfully arrested and prosecuted several cyber criminals.”


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E-Business

Tech Expert Unveils BAT-BOT AI App to Curb Fake News ahead of 2027 Elections

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An artificial intelligence (AI) application has been developed to help combat the spread of fake news, misinformation and political propaganda as political activities gradually build toward the 2027 general elections in Nigeria.

Tech Expert Unveils BAT-BOT AI App to Curb Fake News ahead of 2027 Elections

The app, known as BAT-BOT AI, was unveiled in Abuja by Mr. Gunu Usman, its founder, who said the platform is designed to assist the federal government in addressing the growing challenge of false information within nation’s digital space.

‎Mr Usman explained that the new platform was created to ensure that factual information circulates faster than falsehood.

He noted that the rapid spread of misinformation, disinformation, hate speech and manipulated narratives targeting the administration of Bola Tinubu, the ruling All Progressives Congress, and national institutions poses risks to democratic stability and public trust.

According to Mr. Usman, BAT-BOT AI was developed to support public access to verified information while countering misleading narratives online.

The Technology expert described the system as a sovereign AI-powered civic information and fact-verification platform designed to strengthen Nigeria’s digital information ecosystem ahead of the 2027 general election.

He added that the initiative aligns with the government’s policy direction under the Renewed Hope Agenda of President Tinubu, which seeks to promote transparency and encourage informed civic participation.

The founder further explained that the platform is currently accessible to Nigerians through multiple digital channels, enabling users to verify claims, seek clarification on government policies and obtain information on national development initiatives.

Mr.  Usman expressed optimism that the tool would help curb the spread of false information and contribute to a more credible digital environment as the country prepares for the next electoral cycle.

 

 


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Why JustMarkets Is a Strong Choice for Gold Trading

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Over the past four years, gold has risen by more than 400%. The precious metal has long been one of the most traded assets in global financial markets. From its role as a traditional store of value to its sensitivity to inflation, interest rates, and geopolitical uncertainty, gold continues to attract traders seeking efficient and predictable trading opportunities during a period of global uncertainty and high volatility.

Why JustMarkets Is a Strong Choice for Gold Trading

JustMarkets

For traders looking to effectively access gold markets, choosing the right trading environment is as important as timing their entry. One of the most popular and effective gold trading platforms is JustMarkets, offering the tools, conditions, and infrastructure to enable traders to achieve their most ambitious gold trading goals.

Tight Spreads on XAU/USD

Cost efficiency is a critical factor in gold trading, especially for active day traders. JustMarkets offers extremely competitive XAU/USD spreads, allowing traders to open and close positions with reduced transaction costs. Lower spreads can significantly impact short-term strategies, where precision and timing are key to effectively entering a trade. By minimizing trading costs, JustMarkets helps traders focus more on market analysis and finding the ideal entry point, and less on overhead.

Fast and Reliable Execution

Gold is recognized for its volatility, especially during the day, especially with economic announcements or geopolitical events. Speed is of the essence in volatile markets. JustMarkets provides high-speed execution of orders, which helps minimize the risks of delays, especially during periods of high volatility. This ensures that traders are able to respond better to market conditions, thereby having better control over trade management.

Flexible Trading Conditions

Each trader has their own approach to gold, ranging from intraday trading to position trading. JustMarkets offers flexible leverage and account types, enabling traders to adjust their exposure based on their risk tolerance and trading style. This flexibility is suitable for both conservative and aggressive traders while still allowing them to access the same global gold market.

Advanced Platforms and Tools

Successful gold trading is based on thorough technical and fundamental analysis. JustMarkets provides access to industry-standard trading platforms equipped with advanced charting tools, multiple timeframes, and a wide range of indicators for recognizing divergences and clear entry points. These features help traders analyze price trends, identify key levels, and plan their trades with greater confidence.

Accessibility via mobile devices and computers via the JustMarkets Mobile Trading app also ensures traders can monitor positions and market movements from anywhere and at any time.

Education and Market Support

Gold is also affected by factors such as inflation rates, central bank policies, and currency fluctuations. Understanding these factors is important for developing a structured trading strategy.

JustMarkets offers resources for traders, which provide information on how global events can impact the price of gold like case studies, daily, bank and weekly analysis. This is a knowledge-based system, which enables the trader to make more informed decisions rather than relying on the price movements of gold.

Trading Activities That Keep Gold Traders Engaged

In addition to the competitive trading environment, JustMarkets also runs various special activities and campaigns that aim to make the trading experience more interesting. At certain intervals, the special activities may include trading contests on specific trading instruments, such as gold, which are highly sought after by traders. This will give the traders an added impetus to keep trading.

The special activities are designed to encourage trading, consistency, and skill-building among the traders, along with the additional motivation for the trading strategies. This is also in line with the overall philosophy of JustMarkets to create a dynamic trading environment where trading, learning, and motivation are linked together.

A Trading Environment Built for Gold Traders

Gold is still one of the most dynamic markets with the greatest number of opportunities in the world. With tight spreads on XAU/USD, fast execution, flexible trading terms, and access to advanced analytical tools, JustMarkets creates an optimal trading environment for those who want to trade gold efficiently.

In addition to the comprehensive educational assistance, JustMarkets continues to position itself as a strong competitor for traders who are looking for professional trading conditions combined with growth opportunities.


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Microsoft Expands Africa AI Push while DeepSeek Gains Users

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Microsoft is stepping up its push to expand artificial-intelligence adoption across Africa as competition intensifies with Chinas DeepSeek for influence in one of the worlds youngest and fastest-growing digital markets.

Microsoft Expands Africa AI Push while DeepSeek Gains Users

The company plans to train 3 million Africans on its AI technologies this year through partnerships with schools, universities and other institutions, with a focus on South Africa, Kenya, Nigeria and Morocco.

The effort reflects Microsofts broader attempt to accelerate adoption of its AI ecosystem across emerging markets where developers and enterprises are increasingly experimenting with generative AI tools.

Alongside the training initiative, Microsoft is working with MTN Group (MTNOY), Africas largest telecommunications company, to distribute Microsoft 365 and its Copilot digital assistant to about 300 million subscribers.

The Elevate program is designed to expand AI literacy and reduce cost barriers that might otherwise limit adoption, according to regional leadership.

The push comes as Chinese technology firms expand their footprint across the continent, with DeepSeeks open-source models accounting for roughly 11% to 14% of chatbot use in several African markets and reaching about 20% in countries such as Ethiopia and Zimbabwe following investments tied to digital infrastructure and telecom networks.

Microsoft is also increasing its infrastructure investment in the region.

In South Africa, the company plans to invest 5.4 billion rand, or about $330 million, to expand its cloud and AI capacity by the end of next year, while it is also exploring plans for a geothermal-powered data center in Kenya.

Early corporate adoption is emerging across the continent, with South African grocer Spar Group using Copilot in ways that save more than 700 employee hours annually and Nigerias Access Holdings integrating AI into daily workflows.

Regional leadership has suggested broader AI adoption could potentially contribute up to $1.5 trillion to Africas gross domestic product by 2030 if governments and businesses continue investing in digital infrastructure and AI skills.

 


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