E-Business
Stakeholders Seek Collaboration to Mitigate Cyberattacks in Organizations
Information security stakeholders have laid out the recipe for activating a secured cyber environment for Nigeria. Speaking at the Annual Cybersecurity Conference organised by Information Security Society of Africa –Nigeria (ISSAN) on Tuesday, stakeholders from the financial and information technology sectors stressed on the need for collaboration and organisational security consciousness as means of ensuring that cyberattacks are mitigated in organisations.
In his address at the event which had its theme as ‘Cybersecurity Imperatives For Business: Practical Considerations’, ISSAN Board Chairman, and General Manager, Eco Bank, Dr. David Isiavwe highlighted the importance of cybersecurity in the wellbeing of every organisation and spoke of the need to urgently address issues around cyberattacks, especially in the financial sector.
Several cybersecurity challenges and solutions were brought to the fore at the event.
Dr. Austine Ohwobete, Managing Director, CyberTechNX, spoke about vendor risk assessment and individual management, while taking a 360o look at the organisation’s environment as a means of identifying and curbing cyber threat incidences.
Mrs. Rakiya Mohammed, Director of IT at CBN, who spoke on ‘eNaira: The Journey So Far’, reiterated the need to ensure that alternative transaction channels are created, which gave rise to the birth of the Federal Government’s eNaira.
She noted that the digital currency still need to be widely accepted hence the need for accelerated public enlightenment. “There is still a lot to be done in terms of enlightenment”.
She revealed that eNaira boast of being the 6th in global volume of transaction rating, with 12 banks currently transacting on it, and has been carefully designed with robust security features.
Similolu Akinnusi, founder and CEO of Mint FT/Innovative, spoke on the need to ensure systems are resilient to cyber attacks, and build on the principles of data pillars, which are Confidentiality, Integrity and Availability. Also there is a need for policy content monitoring.
He noted that threats are going to come worse and stronger. “The internet was originally designed to be an open system, it wasn’t meant for running the world with, so we need to think of securiring the architecture.”
Basil Udotai, former Director of Cybersecurity, NSA and Managing Partner, Technology Advisors, noted that there is a major loophole in cybersecurity in Nigeria.
He pointed out that the loophole is in certifications. “Cybersecurity is about technology, process and people. There has been process in technology and processes, but zero progress with people.”
He explained that most certifications encourage fortification of technology and processes, but do not consider certifying the human factor in cycersecurity. “If cybersecurity is about technology, process and people, the people element should be neutral to technology originators. People-oriented certifications should be commercialised.”
He further maintained that there should be local approach to our local cybersecurity issues. “The last joint to secure cybersecurity is to take the tech culture from all parts of the world and develop a cybersecurity architecture that borders on human certification.”
Mr. Harrison Nnaji, the Chief Information Security Officer (CISO) of First Bank Nigeria, listed some of the security measures to be taken by organisations to include data erasure (primary and secondary erasure), encryption, access restriction, backup and recovery, data masking, among others.
He challenged organisations to “own the data” they collect from people, and not to collect data they cannot secure. He further charged organisations to identify and classify their data for easier protection.
Speaking on “Balancing Cybersecurity & Seamless Customer Experience in the Digital World”, Prince Ayewoh, Group Head, Customer Fulfillment Centre (CFC), United Bank for Africa (UBA) Plc, noted that there is a need to engage every department in an organization to tackle cybersecurity, even the human resources and employment process.
He further challenged the CBN to make banks seat up to be proactive, rather than reactive to their security infrastructure.
In a panel discussion, the stakeholders unanimously agreed that the level of cybersecurity in Nigeria is still low, especially in organisational structures, and called for collaboration between all stakeholders in areas of data sharing and infrastructure sharing.
Data remains the most viable tool to fight cyber threats. Stakeholders maintain that shared infrastructure and data on cybersecurity will go a long way in mitigating against cyber threat. These include shared platform and shared services.
Dr. Adewale Peter Obadare, the Co-founder/Chief Visionary Officer of Digital Encode, while expressing his views at the panel session, noted the need to build cybersecurity intelligence quotient, while will comprise of Augmented Intelligence to check what is happening on the system real time, Anticipatory Intelligence to analyse what could happen, and Assistive intelligence to determine needs to be done.
He further recommended that digitisation, digitalisation and digital transformation should be addressed.
“Strike the balance between the investments in people, technology and processes to fight insider fraud.”
In her view, cybersecurity expert with Airtel Nigeria, Mrs. Joy Omoruku, tasked ISSAN to look at schools curriculum to make input that will include cybersecurity.
She also proposed that the Association look into recruiting smart students at graduation to groom them on cybersecurity practices.
Mrs. Omoruku was also of the opinion that ISSAN could set up ‘ISSAN For Students’ to equip and empower students with relevant skills, and teach them what is expected of them.
Lagos State government and the Nigerian Postal Service (NIPOST) are joining forces to revolutionise e-commerce logistics in Nigeria’s economic capital.
The collaboration aims to enhance last-mile delivery and optimise connectivity within Lagos and beyond.
During a courtesy visit to governor Babajide Sanwo-Olu, Ms. Tola Odeyemi, postmaster-general and CEO of NIPOST, highlighted the strategic importance of Lagos in driving innovation in the e-commerce sector.
“As the e-commerce landscape continues to evolve, Lagos leads the charge in this growth. Through enhanced postal and logistics services, we seek to empower small businesses and individuals engaging in this expanding sector,” Odeyemi said.
She underscored her commitment to fostering partnerships that would align NIPOST with the demands of a modern economy, identifying Lagos as a pivotal partner.
Lagos is central to achieving our vision of efficient and future-ready postal services, she added.
Odeyemi applauded Lagos state for its vibrant programmes that drew global attention during the December festivities, stating that such initiatives could drive further economic growth and diaspora engagement.
She pledged enhanced postal and logistics support to drive e-commerce growth and empower small businesses in Nigeria., highlighting NIPOST’s readiness to collaborate with Lagos State to enhance last-mile delivery, foster innovation, and improve public service delivery.
Lagos, as Nigeria’s economic hub, is a critical partner in our vision to make NIPOST’s services more efficient and relevant in today’s world, Odeyemi stated.
She commended Lagos State for its strides in infrastructure and governance, underscoring the importance of strategic partnerships to optimize connectivity within Lagos and nationwide.
Governor Sanwo-Olu challenged NIPOST to rethink its approach and embrace technology as a transformative tool for business facilitation.
“For NIPOST to remain relevant, you must challenge the status quo, revamp your services, and adopt innovative strategies that address today’s needs and anticipate future demands,” the governor advised.
He also pledged Lagos state’s support in upgrading NIPOST’s infrastructure to improve service delivery and create an enabling environment for seamless e-commerce operations.
Kaspersky has warned that fake Telegram Premium offers have been spreading globally, targeting users with phishing scams and malware disguised as alternative app versions.
These attacks aim to steal account credentials or compromise devices. The scams capitalise on Telegram Premium’s popularity and gifting feature, making it crucial for users to remain vigilant.
Telegram Premium is a subscription that offers exclusive features, such as faster download speeds, voice-to-text conversion, premium stickers, an ad-free experience, and more. Users can gift a subscription, and scammers capitalise on this gifting feature and the Telegram Premium topic in general.
One of the tricks begins when a user receives a message that appears to come from someone in their contact list, whose account may have been hacked. The message claims: “You’ve been sent a gift — a Telegram Premium subscription”.
Below, there’s a link that looks legitimate but actually redirects the user to a phishing page, prompting them to log in to Telegram. If victims scan the code or enter their credentials, their account is immediately compromised, giving scammers access to their login details, password, and potentially their authentication code.
There are other tricks referencing the Telegram Premium theme, and not all of them necessarily start with messages on Telegram. Attackers may also use other methods to send phishing links, for example, email.
For instance, perpetrators host fake “giveaways” for Telegram Premium subscriptions. Victims are lured into participating, and in a series of steps, they are directed to a phishing site where they are prompted to enter their Telegram account credentials, ultimately resulting in their account being compromised.
Another machination involves cybercriminals sending victims an invitation to download a ZIP archive that claims to contain a version of the messenger service with a “Premium” subscription. The download link redirects users to a phishing page where they are once again asked to log in to Telegram.
Yet another fraud involves distributing malicious software disguised as an alternative version of the Telegram app with a “built-in” Premium subscription. Scammers send victims links to download APK files claiming they are modified versions of the app, but they turn out to be malware.
“Phishing schemes capitalising on the Telegram Premium topic has been observed in several languages, suggesting that the perpetrators operate globally. Even if these scams haven’t yet reached a specific region, there is a probability they could eventually make their way there.
Therefore, it’s always important to remain cautious and skeptical of offers that seem too good to be true. Additionally, make sure your Telegram security and privacy settings are up to date, and your device has a robust security solution,” advises Olga Svistunova, security expert at Kaspersky.
National Identity Management Commission of Nigeria (NIMC) has said that it is looking at ways of streamlining and expanding the rollout of digital ID in Nigeria and one of the options on the table is adding iris biometrics to its digital ID enrollment.
Iris biometrics is a biometric authentication technology that uses the unique patterns of the iris to identify a person
The hint was dropped recently by Abisoye Coker-Odusote, director general and chief executive officer, NIMC, during a Digital Public Infrastructure (DPI) Journalism Fellowship training which took place in Abuja.
Speaking through a representative, the NIMC boss said this idea is among a litany of innovations which they are planning to introduce to the digital ID system in order to make it more inclusive, The Sun reports.
At the moment, biometric enrollment for the National Identification Number (NIN) in Nigeria involves face and fingerprints.
Adding the iris modality, according to the official, will make it possible for citizens with disabilities to be equally issued the important credential which is necessary to access a wide range of services in the country.
“We are exploring the use of iris recognition technology to cater to the specific needs of individuals with disabilities,” the representative was quoted as saying. Uganda is one other African country which has announced the addition of iris biometrics to its new generation biometric national ID card.
The NIMC CEO said despite the challenges the ID authority faces, its commitment to build an inclusive ID system and expand coverage remain unwavering.
She emphasized the important of the NIN as an essential tool in getting access to several services.
In order to streamline access to services, Odusote said they have been working tirelessly with their partners to enhance interoperability among government agencies to facilitate identity verification.
This, she says, will save Nigerians the stress of having to register many times with government agencies to obtain services.
The innovations envisaged by the NIMC are part of a broader reforms plan which aims to give the ID authority a new legislative framework for more efficient identity management.
It also comes at a time when the World Bank has extended its support for the country’s digital ID program by another two years, with a target to issue 180 million digital IDs by the close of the extension.
The Nigeria ID4D has pledged in the past to create the enabling environment to the issuance of NINs to persons living with disabilities.
A recent investigative report however suggests that many aged and physically challenged citizens in Nigeria go through tough times seeking the NIN.
Some have reportedly had their SIM cards blocked while others have been locked out of their bank accounts for their inability to register for a digital ID.
SERAP Drags FG, Govs to ECOWAS Court over ‘Misuse of Cybercrimes Act’
Suspected Lakurawa Terrorists Kill 3 Telcoms Workers in Kebbi
GAIM 6: Fidelity Bank Rewards 10 Customers with N10m
BudgIT Queries Irregularities in FG’s Proposed 2025 Budget
Lagos, NIPOST Partner to Transform e-Commerce Delivery
MTN Nigeria Renews Spectrum Lease Agreement with NTEL
NERC Discloses $5.7 Million Debt Owed by International Customers for Q3 2024 Electricity Supply
A beginner’s guide to Temu: Your ultimate shopping companion
CBN, SEC Approve FCMB Group’s N147bn Rights Offer
Corporate Blackmail, My Story as a Case Study, by Leo Stan Ekeh, Chairman Zinox Group
General News2 days agoNigeria Recovers $52.88m in Assets Linked to Former Petroleum Minister Diezani Alison-Madueke
E-Business2 days agoCybersecurity Firm Warns of Phishing Threats Targeting Telegram Premium
General News2 days agoTransform Your Health with QNET’s BELITE 123: The Ultimate Weight Management Solution
General News2 days agoTikTok Announces Plans to Cease Operations in the U.S. by January 19, 2025
Telecom3 days agoNigeria Has World’s Most Affordable Data Costs – GSMA
E-Financial11 hours agoBudgIT Queries Irregularities in FG’s Proposed 2025 Budget
E-Financial11 hours agoNAICOM Seeks Police’s Support to Enforce Third-party Motor Insurance
E-Financial11 hours agoGAIM 6: Fidelity Bank Rewards 10 Customers with N10m