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PwC Says AI is New Weapon in Global Cybersecurity War

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Artificial Intelligence (AI) has become the top focus for global business and cybersecurity leaders as organisations race to strengthen their defences against rising digital threats.

PwC Says AI is New Weapon in Global Cybersecurity War

This is according to PwC’s 2026 Global Digital Trust Insights Report, which shows that companies are channelling more of their cyber budgets into AI-driven solutions, even as they struggle with skill shortages and growing exposure to sophisticated cyberattacks.

The global survey, which gathered responses from 3,887 business and technology executives across 72 countries, found that while most organisations recognise the power of AI to boost cybersecurity, only six per cent say they are “very capable” across all areas of cyber defence.

Overall, barely half of those surveyed believe their organisations can effectively withstand a major cyberattack, a figure PwC describes as worrying in the face of fast-evolving technologies such as AI and quantum computing.

The study also found key weak points around authentication controls (55 per cent), connected devices (48 per cent), legacy systems (45 per cent) and supply chain vulnerabilities (43 per cent), areas that attackers continue to exploit.

Femi Osinubi, consulting and risk services leader at PwC Nigeria, said Nigerian organisations must take cybersecurity more seriously as digital transformation deepens across sectors.

“As organisations in Nigeria advance on their digital transformation journey, the need for resilient cybersecurity strategies has never been more critical,” Osinubi said.

“AI offers a powerful opportunity to strengthen defences, but success depends on bridging the skills gap and integrating these tools into broader risk frameworks.”

He added that Nigerian businesses should invest in AI-driven cyber tools while upskilling local talent, noting that “combining technology and human capability is key to protecting Nigeria’s digital economy and infrastructure.”

According to PwC, nearly eight in ten organisations (78 per cent) globally plan to increase their cybersecurity budgets in the next 12 months.

Among their top priorities, AI investment leads with 36 per cent, ahead of cloud security (34 per cent), network security (28 per cent) and data protection (26 per cent).

However, spending more money does not necessarily translate to stronger defences. About half (50 per cent) of respondents cited a lack of knowledge in applying AI for cyber defence, while 41 per cent pointed to the scarcity of skilled professionals as a major challenge.

Sean Joyce, Global Cybersecurity and Privacy leader at PwC US, described the current landscape as a “tipping point,” driven by rapid digital interconnectivity and emerging threats.

“The most successful organisations are those where chief information security officers (CISOs) have a seat at the table and cybersecurity is embedded in business decisions,” Joyce said.

“Resilience comes from foresight, not hindsight.”

The report also found that 27 per cent of organisations suffered data breaches costing at least $1 million in the past three years. The most affected were large companies earning above $5 billion in revenue, US-based firms, and those in the technology, media and telecommunications sectors.

To better understand their exposure, half of the surveyed companies now use cyber risk quantification to measure the potential financial impact of attacks, a notable increase from 44 per cent last year.

PwC concluded that while AI is fast becoming the backbone of modern cyber defence, the technology is only as effective as the people who use it.

For Nigeria and other emerging digital economies, the message is clear: AI is not a silver bullet.

Building cyber resilience will depend on combining smart technology with skilled professionals who understand the unique risks of the digital age.


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Ebere Melum-Nwogbo is a trained and practicing journalist. She is passionate about ICT and business journalism. She has over a decade experience spanning money and capital market as well as information technology

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EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over “419”

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Economic and Financial Crimes Commission (EFCC,) has declared Halimat Adenike Tejuosho, a women leader of the City Boys Movement, wanted.

EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over "419"

Halimat Adenike Tejuosho,

A notice issued by the EFCC on Monday via X said Tejuosho has been declared wanted over an alleged case of obtaining money by false pretence.

The notice was signed by Dele Oyewale, head of Media and Publicity for the EFCC.

The anti-graft agency called on members of the public with useful information about her whereabouts to contact any of its offices nationwide.

The Commission also urged the members of the public to reach out via its official phone lines or email, or report to the nearest police station or other security agencies.

Recall that the City Boy Movement recently appointed Tejuosho as the South-West Zonal Women Leader.

According to a statement signed by the Movement, Tejuosho is to provide strategic leadership and coordination for women-focused activities in the zone, driving political mobilization, civic engagement, and advocacy.

 


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Afreximbank to Fund 3 New Refineries in Nigeria

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African Export-Import Bank (Afreximbank) has disclosed plans to finance three additional refineries in Nigeria as part of a broader push to reduce the country’s reliance on imported petroleum products and strengthen local refining capacity.

 Afreximbank to Fund 3 New Refineries in Nigeria

Denys Denya, senior executive vice president of the bank, made the disclosure on Monday during a virtual media briefing focused on the institution’s 2025 financial performance, crisis response initiatives, and long-term industrialisation strategy.

“We are also financing refining on the continent, which will alleviate the importation of refined products. We are not only supporting Dangote; we’re supporting three other refineries in Nigeria,” Denya said.

The briefing, which focused on the bank’s 2025 financial performance, crisis response initiatives, and industrialisation strategy, also featured a question-and-answer session with journalists across Africa.

Denya explained that the push into refining is driven by recent disruptions in global supply chains, particularly linked to tensions in the Middle East, which have raised the cost and complexity of fuel imports for African economies.

According to him, Afreximbank has adopted a dual approach of supporting immediate trade finance needs while investing in long-term productive capacity to reduce structural import dependence.

He said, “For import-dependent economies, the cost of import is very high… so we have taken a proactive approach of engaging with financial institutions on the continent to increase their facilities so they can issue high-value letters of credit.”

The bank’s intervention is backed by a $10bn Gulf Crisis Response Programme, designed to stabilise access to essential imports such as fuel, food, fertilisers, and pharmaceuticals, while also supporting sectors exposed to global shocks.

Denya noted that the facility is already seeing uptake from countries including Kenya, Ethiopia, and Tanzania, warning that demand could accelerate if geopolitical tensions persist.

Beyond short-term interventions, the Afreximbank executive stressed that financing refining projects across Nigeria and other African countries remains central to the bank’s long-term strategy of industrialisation and export development.

He said the bank’s support for large-scale industrial projects, including the Dangote Group refinery, reflects its commitment to reducing Africa’s reliance on imported refined products and strengthening regional value chains.

“Our support for industrialists who are making a difference on the continent is testimony to this approach. We will continue to champion projects that reduce Africa’s reliance on imported refined products,” he added.

Denya further disclosed that the bank is financing similar refining projects in Angola as part of a continent-wide push to achieve self-sufficiency in petroleum products.

The shift towards local refining, he explained, is also expected to improve macroeconomic stability by reducing foreign exchange pressures associated with fuel imports.

 


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MTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign

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The Gathering on 100 has officially concluded its pilot edition, closing out 100 continuous hours of culture, creativity, and community engagement at the National Stadium, Surulere. At the climax of the five-day immersive youth experience, MTN Nigeria and the gatherers of the event unveiled the defining message of the movement: “Live It 100.”

MTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign

The event brought together thousands of young Nigerians in a massive convergence of music, sports, gaming, and creative sessions. From watching the sunrise for four consecutive mornings to actively shaping culture in real-time, attendees experienced a shared journey rooted in endurance and expression.

Operating under a partnership model rather than a traditional corporate sponsorship, MTN stepped back to let the youth lead. The techo embraced the primary narrative that “The Gathering is the fire; MTN is the oxygen”.

Karl Toriola, Chief Executive Officer, MTN Nigeria, said: “The energy we have witnessed here in Surulere over the past 100 hours is proof of the unstoppable spirit of the Nigerian youth. Our strategic intent was to position MTN as the critical engine behind this vibrant youth movement, ensuring the brand is seen as an enabler, not an intruder. The Gathering is the fire; MTN is the oxygen. ‘Live It 100’ is our commitment to powering the platform where the conversation happens. We are giving them the autonomy to lead, while we listen.”

A focal point of the event was the high-stakes Pitchathon segment, which provided a structured arena for startups to showcase working products. Rather than a traditional, heavily branded corporate event, the space felt authentic, unscripted, and transparent, allowing founders to interact directly with expert judges, potential investors, and a live audience.

Onyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria, shared: “The ideas and partnerships formed over these 100 hours show exactly what happens when corporate Nigeria is finally listening to young Nigerians. We recognise that traditional business engagement doesn’t always work for this generation, which is why we empowered the youth to lead. By supporting The Gathering, we are not just celebrating culture; we are fueling the young Nigerian through youth-led innovation and actively investing in their economic potential.”

Beyond business activity, the event recorded consistent engagement across its programming, providing deep insight into the evolving role of youth within Nigeria’s economy. The sustained 100-hour activity highlighted a growing, resilient base of digitally engaged participants who own their lanes and actively create their own opportunities.

As the event closed, MTN reaffirmed their commitment to expanding the platform, ensuring that The Gathering on 100 will continue to evolve as a vital space for both cultural expression and youth-led economic opportunity.


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