E-Business
NITDA Targets $40b Revenue from Blockchain Technology

Kashifu Inuwa Abdullahi, director general, National Information Technology Development Agency (NITDA) has said that the agency is targeting a revenue of $40 billion from blockchain.

In line with this projection that NITDA is executing blockchain project where they are training 500,000 Nigerians on blockchain technology.
According to him, “blockchain is projected to add $1.7trillion to global GDP. We want to position Nigeria to at least get $40b from that $1.7trillion. That is the minimum we are looking at”.
The director general stated this at a recent stakeholder engagement forum organised by NITDA and Federal Inland Revenue Service in Lagos.
“We have national blockchain adoption strategy where we are working with the ecosystem to create use cases in blockchain. We are also working on National Skill strategy to achieve two things: one, 95 per cent digital literacy as well as make Nigeria global skill factory.
“We are also working on AI Policy Strategy Implementation that has to do with Roadmap for the adoption of AI, that will see us tap into the $13 trillion global market by 2030.
“National Centre for Artificial Intelligence and Robotics was established in 2001 to assist us harness value from all emerging technologies like Artificial Intelligence, Robotics, Blockchain among others. They are going to be disruptive and are going to displace jobs. If we don’t position ourselves as a country, we would lose jobs and it will affect our economy.
“But if we position ourselves well, we will create more jobs and prosperity because Artificial intelligence will add $15.7trn to Global GDP, Blockchain $1,7tr. So, any country that is part of the first movers will benefit more from it. According to PWC, if you are among the first movers, you can add up to 26 per cent to your GDP from Artificial Intelligence and 10 per cent from Blockchain”.
Inuwa reiterated the need for continuous collaborations for higher productivity, according to him “no one can whistle a symphony, it takes a whole orchestra to play it. We believe in teamwork and we know there are things we can do as a government that you cannot do as a private sector and vice versa, but together nothing is impossible. That’s why we are here to forge a common front of working together, co-create the ecosystem and prosperity for all.”
The NITDA Boss also elucidated key focus of the Agency particularly the implementation of Nigeria Start-up Act, completion of the National Digital Innovation and Entrepreneurship Centre, National Data Strategy Implementation, Adoption of Blockchain Technology, Implementation of the National Digital Skills Strategy amongst others.
“As we look to the future, NITDA is committed to sustaining the momentum, leveraging emerging technologies, developing policies and strategies that promote digital transformation, and creating an enabling environment for startups and entrepreneurs to thrive.
“We believe that with you all, we can build a more prosperous Nigeria, a country that is at the forefront of Africa’s digital economy, and a nation that can compete globally”, Inuwa assured.
E-Business
Firm Spots Rising Scam Activity Around the 2026 World Cup, from Bogus Tickets to $500,000 “grant” Emails

Millions of football fans around the world are gearing up for the World Cup, and cybercriminals are seizing the moment to exploit the heightened interest.

Experts at Kaspersky have uncovered various types of scams that mimic official tournament resources or leverage the event for unsafe purposes, putting users’ data and finances at significant risk.
On one of the fraudulent websites discovered, users are offered the option to buy tickets for FIFA World Cup matches, with payments accepted in almost any currency.
However, after completing the fake registration and payment steps, users risk not only losing money from their bank cards but also exposing sensitive personal data to attackers.
The site uses the official colour scheme of the 2026 tournament to mislead users. In addition, the scammers offer ways to contact them, either directly on the site or via messaging apps.
Another website offers users the chance to purchase “official merchandise” for the 2026 tournament, featuring images of mascot plush toys and T-shirts, with a wide selection available for “purchase.” To make the offer more enticing, the site highlights steep discounts. Additionally, to appear more credible, the scammers have added a “Trusted store” badge at the bottom of the page, along with a registration form that requests personal and banking details.
Another attack scenario involves fraudulent email campaigns, in which attackers attempt to trick users into sending money or click a phishing link. To increase the chances of engagement, the emails feature compelling subject lines and persuasive messaging.
In one of the examples identified, fans received emails allegedly sent by official representatives of the event regarding a fake decision from a dispute resolution chamber. The link provided in the email leads to a phishing page.
In some cases, users are targeted with scam emails claiming they have “won” a $500,000 grant to cover tickets, flights, and accommodation, followed by instructions to contact the sender to claim the “prize” funds. Kaspersky also reports email spam and unsolicited ads related to the sale of competition-themed merchandise and souvenirs, some of them might turn out to be a scam.
“Unfortunately, major sporting events that attract large audiences are never overlooked by scammers. Seemingly harmless or even appealing emails can often conceal not only dangerous links and malicious attachments.
In some cases, careless interaction with such messages can lead to serious device infections. We recommend that users ignore any suspicious emails and websites to protect their financial assets and keep their devices and personal data secure,” says Anna Lazaricheva, senior spam analyst at Kaspersky.
E-Business
NDPC Warns of Offshore Data Risks as 90 Percent of Country’s Data is Hosted Abroad

Nigeria Data Protection Commission (NDPC) has raised concerns over data sovereignty, national security as well as loss of economic value, as over 90 per cent of Nigeria’s data is hosted abroad.

Pic credit…247digitize.com
Vincent Olatunji, national commissioner/CEO, NDPC, stressed the importance of safeguarding Nigeria’s digital economy through strong data protection and privacy frameworks.
He spoke while while delivering a keynote address at the IoT West Africa Conference, where he stated that the trend poses significant risks to Nigeria’s control over its digital assets.
He further described the situation as precarious for the nation’s sovereignty, and called for urgent investment in local data infrastructure.
Olatunji, highlighted data sovereignty, the growing role of data centres, and regulatory expectations under the Nigeria Data Protection Act, 2023, noting both the benefits of compliance and the risks of non-compliance. Olatunji underscored that data centres are now critical infrastructure for Nigeria’s digital transformation.
While decrying that over 90 percent of the Nigeria’s data is hosted abroad which is precarious for the nation’s sovereignty he encouraged for more investment in the sector as it is projected to reach $1.9 billion by 2031.
Also speaking, Kashifu Inuwa, the director-general of the National Information Technology Development Agency (NITDA), said policy is emerging as the key driver of Nigeria’s digital transformation, particularly in shaping the development of the Lagos-Abuja digital corridor.
“While infrastructure responds to demand, policy creates the enabling environment for sustainable growth,”
Inuwa who was represented by Aristotle Onumo, director, stakeholders management and partnership at the IoT West Africa Conference in Lagos, on the theme “The Lagos-Abuja Digital Corridor: Building Africa’s Next Data Centre and Cloud Hub.”
Inuwa emphasised that while infrastructure responds to demand, policy remains the critical driver that creates an enabling environment for sustainable digital growth.
He explained that Nigeria’s broadband policy, which stipulates minimum speeds of 10 Mbps for rural areas and 25 Mbps for urban centres, provides a strategic framework for prioritising infrastructure deployment along the Lagos-Abuja digital corridor.
He cautioned, however, that without deliberate collaboration and partnership between government, the private sector, and civil society, widespread infrastructure rollout would remain challenging. “Collaboration is the pathway that massifies impact, while partnership harnesses collective intelligence. No one can achieve this in isolation,” he said.
Inuwa also spoke on the Nigerian Sovereign Cloud Project; a flagship initiative aimed at strengthening indigenous cloud service providers and preventing the dominance of Nigeria’s digital infrastructure by foreign hyperscale operators.
By scaling local infrastructure to meet global standards, the project seeks to domesticate data hosting, reduce operational costs, and improve access to cloud services across the country.
E-Business
Opay Plans IPO in US, Targets $4Bn in Valuation

Opay, a financial technology (fintech) firm, is working with Citigroup Inc., Deutsche Bank AG, and JPMorgan Chase & Co. for an initial public offering (IPO).

According to a report by Bloomberg on Friday, sources said the platform, backed by SoftBank Group Corp., is considering a listing in the United States and is targeting a valuation of about $4 billion.
They added that the company could proceed with the share sale later this year, although the timing and size of the offering are yet to be finalised.
Opay is one of Africa’s fastest-growing fintech firms, offering mobile payments, transfers, and other financial services across Nigeria.
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The fintech company, Citi, Deutsche Bank, and JPMorgan have not publicly commented on the IPO plans.
Like Opay, Flutterwave, a major fintech company in Africa is planning an IPO.
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