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OLX Says Secondhand Items Worth N12.1tri Posted On Site Last Year

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By peter oluka

OLX, the leading online classifieds site in Nigeria, has released a second hand items report for Nigeria for the first time in commemoration of their 5th Anniversary to showcase trends within the local secondhand market from last year.

According to the report, the value of the unused or secondhand items posted on the site was N12.1 trillion last year, which interestingly, is almost twice the market capital for Snapchat*.

The report also showcases the power of the secondhand market offering in Nigeria, by revealing that over one million items were posted for sale last year, which equates to one item being up for grabs every 30 seconds on OLX.

Commenting on the report, Lola Masha, Country Manager, OLX stated that, “OLX currently receives over 2.8 million visits a month and we are anticipating a growth in this figure over the upcoming months. This report reflects Nigerians awareness of the second-hand value of their possessions.

The report takes a closer look at each category revealing some exciting figures about Nigeria’s secondhand market.

For example: the monetary value of mobile phones posted on OLX in 2016 is over N6.5 trillion – which is equivalent to  4 and half of the world’s largest gold bars, whilst the value of the home, furniture  & garden category on OLX is N44.3 billion which is equivalent to  almost half the cost of the Akwa Ibom stadium.

The most expensive mobile phone  posted on the site was a Nokia Vertu  for N950,000, whilst the most expensive vehicle was a pre-owned 2015 Private Jet Bombardier valued at N5.5 billion that’s the average salary of the top 5 Nigerian footballers.

“The report not only shows the enormous value of the second hand market but also demonstrates the positive impact online classifieds has on the Nigerian economy. This is a concrete demonstration of the OLX brand essence  “Everybody wins” as sellers win when they sell items they no longer need at lower prices, Buyers win when they buy items at great discounts and the Community wins as this trade leads to increased circulation of cash in the local economy.” Masha added.

The OLX Group operates a network of online trading platforms in over 40 countries. It builds market leading classifieds marketplaces that empower millions of people to buy, sell and create prosperity in local communities.

With over 300 million monthly users worldwide, OLX Group makes it fast and easy to buy and sell almost anything online, such as household goods, phones, cars and houses. Through consumer brands including Avito, dubizzle, letgo, OLX, Stradia and Storia, more than 10 million things are listed on its market-leading apps and platforms every single month.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

Kaspersky Discovers New Phishing Campaign Exploiting Google Tasks Notifications to Steal Corporate Credentials

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Kaspersky has uncovered a new phishing scheme that abuses legitimate Google Tasks notifications to trick corporate users into revealing corporate login credentials.

By leveraging Google’s trusted @google.com email domain and notification system, attackers bypass traditional email security filters and exploit users’ trust in familiar services.

In this campaign, victims receive an authentic-looking notification from Google Tasks with the subject line “You have a new task.” The message creates the illusion that the recipient’s company has adopted Google’s task management tool, pressuring them to act quickly. The notification often includes elements of urgency, such as a high-priority flag and a tight deadline, to prompt the victim’s immediate response.

Upon clicking the embedded link, users are directed to a fraudulent form disguised as an “employee verification” page, where they are asked to enter their corporate credentials under the pretense of confirming their status. These stolen credentials can then be used for unauthorised access to company systems, data theft, or further attacks.

“Google’s vast ecosystem of services gets exploited by scammers. The scheme with Google Tasks is part of a broader trend observed before and continuing into 2026, where cybercriminals misuse legitimate platforms to distribute scams and phishing.

Notifications originating from legitimate domains naturally evade many spam and phishing filters, while the social engineering aspect – making it seem like an internal company process – lowers the victim’s guard,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.

 


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esentry 2025 Report Shows Healthcare, Financial Services and Telecoms as Staging Grounds for Increased Cyberattacks in Africa

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Cyber adversaries targeting African organisations are increasingly shifting away from opportunistic attacks toward deliberate, sector-specific campaigns aimed at the continent’s most critical digital infrastructures, according to the esentry 2025 Annual Report released by esentry, Lagos-based Africa’s leading indigenous Managed Security Service Provider (MSSP).

The report identifies healthcare, financial services, and telecommunications as the primary staging grounds for high-velocity cyberattacks, reflecting a growing focus on sectors that underpin economic stability, public welfare, and digital connectivity across Africa.

The findings are drawn from one of the largest cybersecurity datasets analysed in the region. Over the course of 2025, esentry processed more than 31 billion security events, generating 3.5 million alerts and successfully blocking over 15,000 malicious attempts. This monitoring scale shows that, while traditional financial institutions remain a core target, the threat landscape has expanded to include digital lending platforms, healthcare systems that store sensitive personal data, and telecom operators responsible for national and regional connectivity.

Within the healthcare sector, the report highlights ransomware as the most acute risk, with attackers frequently exploiting exposed Remote Desktop Protocol (RDP) services to compromise patient data and disrupt essential medical operations. In financial services, organisations are facing a surge in credential abuse, insider-related threats, and info-stealer malware designed to enable fraud and unauthorised access. Telecommunications providers are increasingly targeted by highly tailored phishing campaigns and attacks on exposed web services, which aim to harvest credentials and compromise customer data.

Commenting on the findings, Gbolabo Awelewa, Chief Business Officer at esentry, said the nature of cyber threats across Africa has evolved significantly. “The threats we are seeing today are deliberate, informed, and carefully tailored to local enterprises. Attackers are exploiting trusted access and moving quietly within networks, which makes early detection critical. Our coordinated cybersecurity model, spanning Defence, Intelligence, Offence, and Security Engineering, allows us to combine scale, speed, and deep contextual insight to detect and neutralise threats before they escalate,” Awelewa said.

A defining trend identified in the report is the shift from overt system exploitation to the abuse of legitimate access. By leveraging compromised credentials and ‘living-off-the-land’ techniques, attackers can blend into routine enterprise operations and significantly delay detection. This approach has compressed the attack lifecycle, enabling adversaries to move from initial access to full operational impact in fewer than 15 days.

To counter this acceleration, the report emphasises the importance of early detection and automated response. esentry says it currently contains low-complexity incidents in under 90 seconds, using a combination of structured threat hunting and centralised telemetry to anticipate and absorb attacker pressure rather than reacting after damage has occurred.

As African organisations continue to digitise, the esentry 2025 Annual Report positions itself as a critical reference point for understanding the continent’s evolving cyber threat environment. The report concludes that protecting Africa’s digital trust will require a shift away from fragmented security tools toward disciplined, coordinated defence frameworks, what esentry describes as a unified Phalanx formation.


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AfDB, UNDP Launch $10Bn AI Initiative for Africa

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The African Development Bank Group (AfDB) and the United Nations Development Programme (UNDP) have launched an ambitious $10 billion project to support the adoption of Artificial Intelligence (AI) across the continent.

The 10 Billion Initiative intends to accelerate ethical AI adoption and inclusive digital economic growth in Africa.

The initiative follows the Nairobi AI Forum, which took place earlier this month in Kenya and brought together governments, private sector leaders, development partners, and tech innovators to define pathways for impactful AI adoption.

According to the organisations, the strategy is a co-designed collaboration between the Bank Group, UNDP, and commercial partners that aims to raise up to $10 billion by 2035.

The resources will be used to create up to 40 million new jobs across the continent by 2035, through targeted investments that provide the groundwork for AI and accelerate widespread adoption in everything from entrepreneurship and regional data infrastructure to policy frameworks and skill development.

Nicholas Williams, AfDB Group ICT operations division manager, commented: “As a leading multilateral development institution, the bank is leveraging its comparative advantage to ensure Africa is not left behind in the AI era.

“The AI 10 Billion Initiative paves the way for expanded partnerships and sustained investments that will accelerate AI entrepreneurship, strengthen data and infrastructure ecosystems, and support inclusive growth across the continent.”

 


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