E-Business
SMW: Facebook Accepts Local Currency Payments, 3 Other Key Points by Cox

Chris Cox, chief product officer at Facebook honoured the opening session of Social Media Week in Lagos, talking about the future of media, and to meet with Nigerian entrepreneurs and content creators.
Nigeria is the first stop on a week-long trip to West Africa where Chris will visit Nigeria, Ghana and Senegal to learn about the challenges and opportunities people in the region face so that Facebook can better serve the region’s content creators, entrepreneurs and developers.
Inspiration for Content Creators at Social Media Week
During his talk at Social Media Week — the region’s premier new media and social media conference — Cox highlighted Nigeria’s status as a hub for innovation and creativity because of its fast-growing mobile technology sector and its vibrant film and music industries.
He focused on how the world is moving to digital video, with formats such as virtual reality, live video broadcast and 360 video giving people new ways to tell their stories.
“Stories matter, whether it’s the stories of our lives or the story of Africa’s growth and ascendance” says Cox. “We want Nigeria’s storytellers — the musicians, the filmmakers, the novelists — to take their stories to the rest of the world. The explosion in mobile video and live video, gives people a new way to share their story and perspective with the globe – and this is happening on Facebook.”
Cox talked about how creators like Femi Kuti are using Facebook to bring fans into their lives and extend their presence beyond the stage and recorded media.
He also discussed how innovators like Afrinolly – the creative hub where technology meets art — are using virtual reality and 360-degree video to create exciting and compelling new storytelling formats.
Building on Mark Zuckerberg’s 2016 visit
Chris Cox is the most senior Facebook executive to visit Nigeria since Mark Zuckerberg visited Lagos in September 2016.
He arrived in Nigeria Sunday night (26 February) and attended New Afrika Shrine to see Femi Kuti, one of his musical heroes.
Femi’s hour long set was streamed via Facebook live to the world and Chris was honoured to be invited to play keyboards for one song.
“I’m looking forward to hearing more about how Nigerian creatives, developers and entrepreneurs are using mobile technology, video and Facebook platforms to create inspiring applications and services for their customers and communities,” says Cox. “The level of innovation we see in this market is amazing. As Africa’s most populous country, Nigeria is an important market for us.”
Facebook Accepts Local Currency Payments in Nigeria
When Mark Zuckerberg visited Nigeria, one of the requests he heard was for businesses to be able to pay for advertising and other services in Naira. In response, Facebook has started accepting locally issued Nigerian Naira cards from new advertisers for payments on its ads platform.
“With 8.6 million people in Nigeria using Facebook on mobile every day, Facebook is a great place for businesses to reach their customers” says Cox. “We’re listening to our community of partners, developers, advertisers and content creators to understand what we can build to best serve their needs.”
Facebook will kick off Boost Your Business
Starting on 8 March, Facebook will kick off Boost Your Business, a series of free training sessions designed to help thousands of Nigerian small business owners understand how to leverage digital platforms for growth. The sessions will be facilitated by trainers led by She Leads Africa in key cities including Lagos, Kaduna, Abuja, Port Harcourt and Ibadan.
E-Business
Firm Reveals a 37% Increase in Malicious Packages Compromising Software Supply Chains

According to Kaspersky telemetry, almost 19,500 malicious packages were found in open-source projects by the end of 2025, representing a 37% increase compared to the end of 2024.

Modern software development is inseparable from open-source components. However, open-source software may contain intentionally hidden threats which can leave the products that use malicious packages vulnerable to manipulation, including supply chain attacks. According to a new Kaspersky global study, supply chain attacks have emerged as the most common cyberthreat facing businesses over the past year.
Kaspersky reminds about high‑profile supply chain attacks that have emerged recently: In April 2026, the official website for CPU-Z and HWMonitor, free tools used by hardware enthusiasts, IT administrators and system builders worldwide to monitor hardware performance was compromised, silently replacing legitimate software downloads with malware-laced installers.
Analysis from Kaspersky GReAT showed that the compromise window was approximately 19 hours. Kaspersky telemetry detected that more than 150 victims across multiple countries faced this attack. The majority were individual users, which is consistent with the consumer-facing nature of the compromised software. Affected organisations spanned retail, manufacturing, consulting, telecommunications and agriculture.
- In March 2026, Axios, one of the most widely used JavaScript HTTP clients, was compromised. The attackers hijacked a maintainer’s account and published poisoned versions of the package (1.14.1 and 0.30.4). The malicious releases contained no harmful code in Axios itself but introduced a phantom dependency that deployed a cross-platform RAT, contacted a C&C server, and then erased traces of itself for macOS, Windows and Linux. Both versions were removed within hours, and the dependency was quickly put under a security hold. Kaspersky GReAT confirmed that the attack was not standalone – it shared tactics, techniques and procedures with Bluenoroff’s GhostCall and GhostHire campaigns, presented at the Security Analyst Summit in 2025.
- In February 2026, the developers of Notepad++, a widely used open-source text and code editor, disclosed that their infrastructure had been compromised due to a hosting provider incident. Kaspersky GReAT researchers discovered that attackers behind the Notepad++ supply chain compromise had used at least three distinct infection chains and targeted a government organisation in the Philippines, a financial institution in El Salvador, an IT service provider in Vietnam and individuals across several countries.
“According to our survey, 31% of enterprise businesses have been impacted by a supply chain attack in the past 12 months. Nevertheless, the security level of open‑source projects is not necessarily lower than that of proprietary-vendor solutions. In some cases, an active open‑source community can quickly discover and remediate vulnerabilities, whereas proprietary systems often rely on internal teams for audits.
The open‑source community strives to monitor emerging risks, cybersecurity specialists conduct researches to find vulnerabilities and malicious code in open‑source software, promptly notifying their users and the community. Completely eliminating the potential risks is impossible, but they can be minimised also with the help of security solutions and automated code‑analysis tools,” comments Dmitry Galov, Head of Kaspersky GReAT Russia and CIS.
E-Business
Data Privacy Ignorance Threatens National Security – DKIPPI

Data Knowledge and Information Privacy Protection Initiative (DKIPPI) has warned that widespread ignorance of data privacy practices is exposing Nigeria to serious national security and economic risks amid a rise in ransomware attacks.

Tokunbo Smith, president of DKIPPI, warned on Tuesday in Lagos, that the increasing frequency of ransomware incidents underscores the dangers of weak data protection systems across organisations and institutions.
He described ransomware attacks as a growing threat in which hackers infiltrate systems, demand payments and threaten to leak sensitive data.
Mr Smith said, “The cost of ignorance in data privacy is not just what you lose. It is what you expose. Data privacy has evolved beyond a technical concern to a critical governance and national development issue requiring urgent attention. Ransomware is no longer just cybercrime; it is economic warfare and a governance issue.”
Mr Smith urged both public and private sector leaders to adopt proactive and comprehensive data protection frameworks to safeguard sensitive information and strengthen institutional resilience.
He also called on government at all levels to go beyond punitive responses and implement stronger regulations, enforcement mechanisms, and national cyber resilience strategies.
According to him, DKIPPI will soon release a policy advocacy paper outlining the key risks associated with poor data protection practices.
He said the paper would highlight financial losses, institutional inefficiencies, and threats to national security, while recommending urgent reforms to procurement processes, compliance systems, and governance structures.
Mr Smith added that addressing data privacy gaps was critical to protecting Nigeria’s digital economy and restoring trust in its institutions.
E-Business
Angst as FG Drops $32.8m Fine on Meta for Data Breach

Decision to cancel the $32.8 million fine previously imposed on Meta for alleged data privacy violations was taken as far back as October 30, 2025.

The development has raised concerns over the country’s approach to data protection enforcement and regulatory transparency.
This followed a confidential, out-of-court settlement singed by Nigerian Data Protection Commission (NDPC) with Meta, effectively waiving the fine imposed earlier that year.
This deal, sanctioned by a Federal High Court, resolved disputes over behavioural advertising and user data transfers without Meta paying the penalty.
Recall that the NDPC claimed that it launched investigation in September 2023 that examined Meta’s handling of personal data from more than 60 million Nigerian users.
The NDPC had accused Meta of several breaches, including the absence of explicit consent for behavioural advertising, unauthorised cross-border data transfers, the collection of data from non-users, and the deployment of algorithms that could expose users to financial and health risks.
At the time, the regulator described the penalty as part of efforts to strengthen digital rights protections in Africa’s most populous country, aligning Nigeria with global enforcement trends in the United States, United Kingdom, and European Union, where Meta and other major technology firms have faced multibillion-dollar fines for similar violations.
However, documents from a subsequent settlement indicate that Nigeria reversed its position in October 2025.
Under the agreement, Meta was absolved of the $32.8 million penalty and required only to cover legal fees incurred by the government during court proceedings challenging the NDPC’s final orders.
The settlement was signed on 30 October 2025 and later validated by the Federal High Court in Abuja on 3 November 2025.
Despite this judicial confirmation, the terms of the agreement were not made public at the time, and only recently emerged through disclosed documentation.
The development has triggered questions about transparency in regulatory enforcement, particularly given the scale of the initial allegations and the number of affected users.
Iliya-Ezekiel Ndatse, data protection lawyer, said the outcome weakens regulatory deterrence.
“Removing penalties after such findings reduces the effectiveness of enforcement actions and weakens the credibility of compliance obligations,” he noted.
The case has also drawn comparisons with Nigeria’s previous dispute involving Twitter, now rebranded as X, which was banned in 2021 before the two parties reached a negotiated resolution.
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