E-Business
Spontaneous Deregulation Tests Regulatory Gaps on Digital Platforms

By Austin Okere
There is a perfect storm brewing between Regulators and Technology Platforms. Regulators should ordinarily be one of the most critical enablers of a society.

Austin Okere
They, however, tend to be either a source of support or a headwind against progress. The regulator should not constrict the pursuit of opportunity nor act in a manner to entrench protectionism.
While Nigeria has become one of the world’s fastest-growing technology markets, attracting investments of over $216m in the first quarter of 2021 alone, there is a palpable apprehension among technology start-ups, after a series of regulatory headwinds from different government bodies.
These include the Central bank of Nigeria’s ban on cryptocurrency trading and the Security and Exchanges Commission’s clampdown on technology platforms for purchasing shares in foreign companies outside the Commission’s regulatory purview and registration.
In August 2021, the Central Bank of Nigeria froze the bank accounts of six fintech platforms for 180 days, saying it was investigating “illegal foreign exchange trading”.
“The party’s over: China clamps down on its tech billionaires” was the screaming headline in the Guardian of August 21, 2021. In the article, Vincent Ni reported that Tencent had announced fresh restrictions on the number of time children can spend playing its online games shortly after state media labelled gaming “spiritual opium”.
The major news last October was Alibaba’s fintech spinoff Ant Group suspending its IPO shortly before it went public after high-flying founder Jack Ma expressed dissent against regulators.
In July, the country’s largest ride-hailing company, Didi, became a regulatory target less than 48 hours after it floated in New York. It was ordered to withdraw from app stores and banned from accepting new users pending a review of security risks and data management.
The news wiped $22bn from its market value. Individuals have also been affected.
Last July, Colin Huang, founder of e-commerce platform Pinduoduo, stepped down as chief executive. He later relinquished his chairmanship. In May, Zhang Yiming, boss of TikTok’s parent company, Bytedance, announced his resignation to focus on “reading and daydreaming”.
Further afield in America, the story is not much different. “The Trump-Twitter fight ropes in the rest of Silicon Valley” was the headline on Politico.com on Sunday, May 30, 2020. President Donald Trump tweeted about mail-in voting, alleging without evidence that the effort would lead to voter fraud.
For the first time, Twitter marked the tweet with a small notice that read “Get the facts about mail-in ballots,” which linked to facts-based reporting on the subject. Twitter’s fact-check led Trump to issue an executive order targeting social media companies.
In early June 2021, Nigerian President Muhammadu Buhari announced the indefinite suspension of Twitter after the platform deleted one of his tweets and temporarily suspended his account.
The relationship between platforms and regulation has been thorny right from the start and can at best, be described as a keg of gunpowder waiting to be triggered. Has the time come for the trigger to be pulled?
I wrote this article five years ago in June 2016, and it still captures the essence of this fractious relationship.
I facilitated a seminar for the Lagos Judiciary at the Lagos Business School in May 2016, with the theme Digital Economy and Legal Regulation. The aim of the program was to share insights on the emerging Digital Economy with their Lordships and draw attention to the imperative for regulatory evolution in the face of the pervasiveness of Online Platforms of the kind operated by technology giants such as Facebook, Google, Uber and Airbnb.
There is hardly an area of economic and social interaction these days that is left untouched by these Platforms in some shape or form.
Regulatory Gaps
To fill the regulatory gaps in the digital economy, these behemoths have resorted to what could be referred to as spontaneous deregulation. I first encountered this term in an article by Benjamin Edelman and Damien Geradin and has arisen as a result of digital disrupters ignoring laws and regulations that appear to preclude their business model, which is typically based on providing platforms for crowdsourcing and giving rise to the sharing economy.
Believing in the efficacy of their utility model and its appeal to pent-up global demand, these disrupters seem to see many rules and regulations as belonging to the past and impractical for today’s innovative clime. They therefore simply ignore them, opting for their own version of self-regulation, usually based on a mutual rating system between service providers and consumers.
It is this skirting of existing regulation that is referred to as spontaneous private deregulation.
These disrupters make the rules for themselves as they go along, because in fairness to them, as their platforms reshape markets, the scope of activity subject to regulation tends to decrease, and various forms of protection disappear.
These companies operate in interstitial areas of the law because they present new and fundamentally different issues that were not foreseen when the governing statutes and regulations were enacted.
The major areas in which these digital czars have riled the establishment are in transportation embodied by UBER, hospitality embodied by AirBnB and FINTECHs, with their foray into cryptocurrencies, particularly Bitcoin and Ethereum.
The need for ‘platform fairness’
Axelle Lemaire, French secretary of state in charge of all things digital, insists that France is open to platform operators, but consumers have to be protected. She is sponsoring a law to be passed by the French Parliament which will create the principle of ‘Platform Fairness’.
Karnataka state in India, where Uber piloted its India service two years ago has directed taxi aggregators such as Uber to stop operations in the state until they secure a licence from the government, triggering sharp reactions from the corporate world.
Getting a licence would mean no more surge pricing, complying with the maximum fares fixed by the government periodically and registering with local transport authorities.
The question is why has it taken the Karnataka government such a long time to wake up to regulatory gaps in her transport sector? And how many other cities are in this quagmire?
The U.S Supreme Court recently ended a decade-long battle over Google’s massive book-scanning project, declining to take up an appeal by authors who claimed the company violated copyright law ‘’on an epic scale’’.
The justices denied certiorari in Authors Guild v. Google, 15-849, leaving in place a ruling last year by the U.S. Court of Appeals for the Second Circuit that said Google’s project was permissible. The appeals court decision invoked the ‘’Fair Use’’ doctrine, which permits some ‘’socially beneficial’’ use of published works such as news reporting or research, that would otherwise constitute copyright infringement.
Airbnb has had its fair share of issues with one of her largest markets, New York. A major concern is a legal regime within which Airbnb operates; one that is marked by poorly drafted laws that fail to account for challenges presented by the sharing economy.
As explained by Airbnb cofounder Brian Chesky, “There were laws created for businesses, and there were laws for people. What the sharing economy did was create a third category: people as businesses,” to which the application of existing laws is often unclear.
These new business models raise complex questions that have not yet been addressed by either legislatures or courts.
Because the threat of enforcement actions can have a chilling effect on start-ups and their users, state and local government officials should consider how their actions may affect burgeoning businesses. Officials should encourage the sharing economy’s growth through collaborative efforts rather than seek to protect incumbent businesses.
Until more people think they can successfully start businesses and prosper, we will not have enough jobs in the economy
Regulation seems too slow in catching up
The slow pace of regulation evolution seems to strongly suggest that the legal profession itself is ripe for a technology revolution that will optimise the largely manual and laborious process of enacting laws and regulation in the face of the aggressive pace of digital innovation.
I recall the indignation of their Lordships when I cautioned that the learned profession could be more vulnerable than they think when it comes to disruption. Emerging technologies like cognitive computing and other forms of machine learning can help narrow the gap between regulation and innovation.
Green shoots of technology in Law and Regulation
My take expressed to their Lordships after the seminar was that the digital revolution is like a train whose drivers are the entrepreneur disrupters. The passengers are the global customers with pent-up demand for the value and convenience that Platforms provide.
Staying on the right side of the law in a digital world
Naysayers to this phenomenon can stand in front of the train and be crushed, stay on the platform and be left behind, or come on board for a ride into progressive partnerships. Regulators still have much to learn about how to deal with platforms. They have no choice but to get more involved and get the needed expertise. But will they? The jury is still out.
Austin Okere is the Founder of CWG Plc, & Entrepreneur in Residence at CBS, New York. Austin also serves on the Advisory Board of the Global Business School Network.
E-Business
How Nigerians Search is Changing — and Why it Matters for Our Businesses

By Olumide Balogun
There was a time when using a search engine felt like cracking a code. You typed two or three carefully chosen keywords, hoped the machine understood, and waited to see what came back. People had to learn the language of machines, shrinking complex needs into stilted phrases.

Olumide Balogun, Director, West and East Africa at Google.
That era is ending. Today, a person can ask a question the same way they would ask a colleague, and the technology is finally learning to respond in kind. Nowhere is this shift more visible than in Nigeria, where a young, mobile-first population expects tools to keep pace with how they actually think and speak.
This change carries weight far beyond convenience. It is reshaping how Nigerian businesses reach customers and how customers find what they need.
For years, marketing online meant wrestling with rigid keyword lists. A small business owner had to guess every possible phrase a customer might type. If you sold ankara dresses, you tried “ankara dress,” “Nigerian print fabric,” “traditional wear Lagos,” and a dozen variations, hoping you covered the gaps. Anything you missed was a missed customer
The new wave of conversational search makes those lists feel ancient. People now ask layered, specific questions: “Where can I find a sustainable tailor in Yaba who makes office wear?” Older systems would have stumbled on a query like that. Newer ones, powered by artificial intelligence, can read intent and stitch ideas together. They connect a question to a relevant local website that a basic keyword search might never have surfaced.
The shift is starting to show up in concrete tools. Google’s AI Max for Search ads, now a year old, is one of the more visible examples. In plain terms, it lets a business describe what it sells and who it serves in everyday language, and the system figures out which searches to match it to, instead of forcing the owner to write hundreds of keywords by hand. Early adopters report stronger revenue growth than peers, and users say results feel more useful because the technology connects ideas for them, often surfacing local sites that would not have appeared before.
There is a quieter benefit too. When advertising becomes more relevant, it stops feeling like an interruption. An ad that answers a real question is no longer noise; it is information. That changes the texture of the internet. The marketplace gets less cluttered, and people spend less time wading through results that do not fit what they were looking for.
None of this is automatic. The technology only works if it can understand human nuance, and human nuance in Nigeria is not the same as human nuance in California. A search for “owambe outfit” or “small chops for fifty people” demands cultural context, not just linguistic translation. Newer features try to bridge that gap. AI Brief, a part of the same Google toolkit, lets a business owner type plain instructions, like “focus on sustainable traditional wear, keep a premium tone,” and the system follows them. This is steering by intent, not by keyword bingo.
There are gains for businesses with deep catalogues too. A retailer with thousands of items no longer has to match every question to the right page by hand. Tools such as Google’s Final URL Expansion read the search and send the customer straight to the page that fits, in real time. In travel, finance, and healthcare, where compliance matters, the same systems can carry mandatory legal text into every ad automatically. Regulated industries can grow without cutting corners.
These are not abstract wins. They are the difference between a small business being found by a customer in Abuja at 9 p.m. and being lost in a sea of generic results, between a hospital reaching the right patient and a tailor in Surulere being discovered by a bride planning her wedding.
We should not pretend the transition is finished. AI is imperfect. It can misread context, amplify mistakes, and require careful oversight. Regulators, businesses, and users all have a role in shaping how it develops in our market. The broader direction, however, is clear, and it is one Nigeria should engage with rather than resist.
Nigeria is a nation of storytellers and traders. Our markets, physical and digital, have always been about conversation. The technology of search is finally beginning to mirror that. It is becoming less of a vending machine and more of a market stall, where you can ask a question, get a real answer, and discover something you did not know you needed.
That is the bigger story behind any single product launch. It is about how a country full of voices is finding new ways to be heard. For Nigerian businesses willing to adapt, the opportunity has never been clearer.
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.
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