General News
Preventing Your Network From Becoming a Botnet
By Harish Chib, vice president, Middle East & Africa, Sophos
“Not having sufficient network protection may allow your organization’s devices to be part of the next cyber-attack”
Botnets are large volumes of distributed networked computers and devices that have been taken over by a cybercriminal.
Botnets, also referred to as bots, are usually taken over by malicious software to enable remote control by a threat actor.
They are set up and developed by a hacker to provide a powerful and dark, cloud computing network to conduct cyberattacks of a criminal nature.
The growth in mobile and network devices has created large scale social and productivity benefits for us. We can now remotely access computers, security systems, cameras, appliances, and a growing list of devices, interconnected with cloud. Collectively this is referred to as the Internet of Things or IoT.
A worrying aspect of the growth of Internet-connected devices is the absence of basic security precautions.
Most end users rarely change factory defaults, which can be exploited by hackers to take control of the devices.
Another door for cybercriminals to take control of connected devices is called the back-door entry. This is a manufacturer’s access to the device through an undisclosed connection, used for remote testing and updates.
This large distributed, network of computers, under the control of threat actors, represents an aggregation of computing power that can be used for a devastating effect.
Inside the network
Malicious software designed to exploit IoT devices are usually not sophisticated. They operate by scanning network ports, looking for access opportunities, and gaining access through default credentials, or brute-force hacking to gain access.
This software is much easier to defend against, as it merely requires configuring the network firewall protection devices.
Similar to other malware, botnets can enter an organization through multiple points of entry. This includes email attachments, hacked web sites, connected sensors and other IoT devices, and USB sticks.
Once a malicious software has entered an organization, it will call home – the hackers command and control server – to register its success in gaining entry and to request further instructions.
It may be told to lie low and wait, or be instructed to move laterally on the network to infect other devices, or to participate in an attack.
This attempt by the malicious software to call-home represents an opportunity to detect infected systems on the network that are becoming part of a botnet.
Once an attack has got underway, the attack itself can be difficult to detect. From a network traffic point of view, the device will simply be sending emails out as spam, transferring data or mining bitcoins, or performing DNS lookups and a variety of other requests, usually seen in large scale attacks. In isolation, none of these types of activities are noteworthy.
Building protection
The most important ingredient for effective protection from botnets is the organization’s network firewall. The following can help to get best protection from the firewall.
· Advanced Threat Protection can identify botnets already operating on the network. Ensure the firewall has malicious traffic detection, botnet detection, and command and control, call-home traffic detection.
· Intrusion prevention can detect hackers attempting to penetrate and take over the network. Ensure the firewall has next-gen intrusion prevention system that is capable of identifying attack patterns inside the network.
· Sandboxing can pick up the latest malicious software before it reaches the organization’s computers. Ensure the organization firewall offers advanced sandboxing that can identify suspicious web or email files and activate them in a safe environment.
· Effective web and email protection can prevent malware from getting onto the network. Ensure the firewall has behavioral-based web protection that can simulate JavaScript code in web content to determine behavior before it reaches the browser.
· Ensure the firewall has top-shelf anti-spam and antivirus technology to detect malware in email attachments.
· Web Application Firewall can protect servers, devices, and business applications from being hacked. Ensure the firewall offers WAF protection for any system that requires remote access.
Best-practices
· Change the password for all your network devices to a unique complex password, and use a password manager if necessary.
· Minimize use of IoT devices and update all essential connected devices. Also disconnect unnecessary devices from the network and upgrade older devices to newer models.
· Avoid using IoT devices that require ports to opened in the network firewall or router to provide remote access. Instead, use cloud-based devices that connect only to the cloud provider’s servers and do not offer direct remote access.
· Do not enable UPnP on your firewall or router. This protocol enables devices to open ports on the firewall on demand without your knowledge increasing the surface area of attack.
· Use secure VPN technologies to manage your connected devices remotely.
Botnets have a massive slowdown effect on the global Internet traffic. They can also have a devastating impact on an organization, if the objective of the attack is to steal sensitive information. Even if the botnet operating on the organization’s network is not after its data, it could be using devices and network resources to cause devastating harm to another organization.
Do not let your network become part of the next global botnet attack.
Burna Boy, Grammy-winning Nigerian artist, has publicly distanced himself from a meme coin circulating online that falsely uses his name and image for promotion.
Burna Boy
In a statement shared via Instagram, the Afrobeats star made it clear that he has no involvement in any cryptocurrency ventures, describing such schemes as fraudulent.
His comments come amid growing traction of a meme coin allegedly linked to him, which has been circulating on social media platform X (formerly Twitter).
“I don’t do any internet ‘coin’ business. I see it as fraud and I have no interest in any of that,” Burna Boy wrote. “So if you see anyone using my name for such, please disregard or report them.”
The singer urged fans to remain vigilant and to report anyone promoting the crypto project under false pretenses.
AM Best has reaffirmed its stable outlook for the global cyber insurance market. The rating agency notes that strong demand for cyber insurance coverage is expected to continue, supporting profitability across the sector despite intensifying competition.
Atlas Magazine reports that the small and medium-sized enterprise (SME) segment presents a key growth opportunity, as many SMEs remain underinsured or lack sufficient cyber coverage.
Rising awareness of cyber threats has also led policyholders to enhance their IT security measures, helping reduce potential losses in the event of a claim.
AM Best’s outlook is further supported by several factors, including sustained capital inflows from reinsurers and alternative capital providers, the use of artificial intelligence for more effective risk selection, and favorable regulatory developments.
According to Munich Re, global cyber insurance premiums reached $15.3 billion in 2024, climbing seven per cent year-on-year.
The market is projected to grow at an average annual rate exceeding 10 per cent through 2030.
However, the industry continues to grapple with challenges such as a rise in ransomware attacks, business email compromise, and payment fraud. The growing use of AI by cybercriminals is also amplifying the scale and sophistication of such attacks.
Woodhall Capital in partnership with Polaris Bank, Lagos and UK governments have announced the launch of a ₦1.5 billion Creative Sector Fund aimed at expanding access to structured financing for creative entrepreneurs meant to scale their output across fashion, film, music, and digital content.
L-R- Abimbola Ozomah, Executive Director, Polaris Bank; Mojisola Hunponu-Wusu, Founder/CEO, Woodhall Capital; Sola Carrena, MD/CEO, Helios Investment; Onyinyechi Aderigbigbe, Head, Brands & Marketing, Woodhall Capital; Jonny Baxter, British Deputy High Commissioner at the signing ceremony of the N1.5bn Creative Sector Fund & Launch of the Creative Currency Podcast at the weekend, Lagos
The fund was unveiled during the launch of the Creative Currency Podcast, an initiative designed to foster collaboration between creatives, financiers, policymakers, and global stakeholders.
The platform will serve as both a podcast and policy engagement forum, tackling long-standing challenges such as limited access to finance, weak Intellectual Property(IP) enforcement, and the absence of scalable business infrastructure within the creative ecosystem.
In May 2022, Polaris Bank partnered with the Lagos State Employment Trust Fund (LSETF) to establish a ₦1 billion funding initiative targeted at artisans in Lagos State.
The objective of the partnership was to deliver critical financial support to empower skilled artisans and entrepreneurs within the MSME sector who had maintained active business operations for at least one year ultimately fostering wealth creation and economic inclusion across the state.
At the launch event held on Thursday evening at the Ikoyi residence of the British Deputy High Commissioner, Polaris Bank’s Executive Director, Abimbola Ozomah, who sat on a panel at the launch, emphasized that the fund is a long-overdue response to the structural exclusion of creatives from formal financing systems. She described the initiative as a deliberate attempt to recognize creative endeavours, intellectual property as a bankable asset and to build a framework where creatives are treated as serious entrepreneurs capable of generating significant economic value.
“This fund represents more than capital, it reflects our belief in Nigerian creativity as a global force,” said Polaris Bank’s Executive Director, Abimbola Ozomah. “We’re not just exporting talent. We’re exporting ownership, structure, and long-term value.”
Founder and CEO of Woodhall Capital, Mojisola Hunponu-Wusu, reiterated the urgent need to redefine how the financial system engages with the creative sector. She committed to providing bespoke financial products, advisory services, and investor-matching support tailored specifically for the needs of creative MSMEs.
The UK Government, through the British Deputy High Commissioner, Mr. Jonny Baxter, highlighted its longstanding commitment to Nigeria’s creative economy. The UK-Nigeria Creative Industries Partnership signed in 2024 was cited as a milestone in unlocking trade, investment, and collaborative opportunities between both countries. The Deputy High Commissioner praised the initiative as a blueprint for global creative cooperation.
The Lagos State Government, a key driver of the initiative, reaffirmed its ambition to cement Lagos as Africa’s creative capital. According to the Governor’s representative, Representing the Governor, Mrs. Folashade Ambrose-Medebem, Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, highlighted the state’s efforts in supporting the sector through progressive policy reforms, infrastructure development, and the provision of zero-interest loans of up to ₦10 million via the Lagos Creative Fund. These measures are designed to empower creatives to scale operations, access markets, and formalize their business practices.
The newly launched Creative Currency Podcast is positioned to be more than a media channel. It is a knowledge-sharing ecosystem that brings together local talents, international investors, legal experts, and cultural stakeholders to explore opportunities, identify risks, and share solutions that will elevate Nigeria’s creative industries to global standards.
Throughout the panel sessions, panelists emphasized the need for deeper structure, transparency, and professionalism in the sector. Creators were encouraged to develop clear business plans, maintain accurate financial records, formalize their operations, and assert their rights to royalties and IP protection.
As conversations deepened, financial institutions acknowledged the need for a mindset shift. Traditional risk models, they agreed, must be reimagined to reflect the unique nature of creative enterprises many of which are driven by intangible assets, flexible revenue models, and export potential.
The event concluded with a call to action: invest in the systems, not just the stories. Stakeholders were unanimous in their belief that a more structured, collaborative, and well-capitalized creative economy will deliver jobs, exports, and global relevance for Nigeria.
Polaris Bank has built a strong footprint in financing MSME by committing billions of naira in loans to support MSME operations in Nigeria, with huge lending portfolio dedicated to empower micro, small, and medium businesses meant to grow businesses, create jobs, and build wealth.
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