E-Business
Why Employee Collaboration is Key for Cybersecurity
By Emmanuel Asika
Many will hate to admit it, but it seems that, perhaps, it has become quite lucrative these days to be a cybercriminal. Firstly, it is a thriving business. For instance, according to the FBI, there was a 207% increase in in reported case of cybercrime reports between 2008 and 2021, and almost $7 billion (₦3,223,080,000,000) in losses last year.
In Nigeria, the peril of cybercrimes recorded a massive rise in the first six months of 2022, “with phishing and scams hitting 174%”.
According to the Economic and Financial Crimes Commission (EFCC) well over 2,800 persons were convicted of cybercrimes in the country last year, and the Consumer Awareness and Financial Enlightenment Initiative (CAFEI) has projected a $6 trillion loss by 2030 to cybercrime within and outside Nigeria.
Secondly, it has no entry requirement – yes, it is that easy and, quite cheap. Imagine this – the typical cost of compromised remote access credentials costs about ₦2,302 and can simply be bought on the dark web.
Cyber crooks use these passes to access their prey’s enterprise networks. A report, The Evolution of Cybercrime, showed that 75% of advertisements for malware and 91% for exploits costs less than ₦4,604.40. Some years ago, it was much more expensive. For instance, as of 2009, cybercriminals paid well over ₦3.6 million for a standard malware kit.
Worse still, it has become increasingly easier than ever before for these hackers to work together in a specialized and concerted secretive supply chain.
They have built fortes, proposing unique services like hiring of huge botnets to convey a customer’s preferred malware to thousands of targets, or hackers-for-hire who take full advantage of the destruction caused by ransomware – spreading an invasion of weak points in a network.
The result of all these is that workers in scattered workplaces around the globe are now in more danger than ever before. The unclear distinction between private and work devices means that hybrid staff are not always shielded by enterprise defenses, thus the risk of attacks is always there.
But there is a way out, and it lies with the employees who are usually the first line of defense, and they must work together. With computer crime now a part of how we do business, and growing, the only way to beat criminals is collaborating with one another to defend ourselves.
Knowing your enemies’ strategy
Hackers the world over betray trust in daily interfaces and exchanges online, mostly via emails, to gain access to systems. It is a known fact that email remains the most common means for hackers to secure illegal access to networks, and once they are in, they try to monetize their access—deactivating the group’s backups, stealing delicate information, and installing ransomware.
The effect of such violation can be grievous, leading to operational interruption, repairs, affect an organisation’s name, and lead to exposure of trade secrets and loss of intellectual property.
As a result, corporate groups and their employees must work together to fortify their lines in this highly increasing risky atmosphere.
Setting up your protective line
First, all employees must be conscious of the methods of hackers and promptly report any suspicious behaviour. They must also understand their respective roles in the defense of their organisation’s cyber systems.
The employers, on their part, must back these endeavors by inspiring a positive security culture where employees are given clear instructions to be watchful for phishing and IP protection, ask for help, collaborate on ways to advance cyber safety, and teach coworkers and family members.
As a group, companies and organisations should place emphasis on understanding the basics, constantly working on their resilience, and acting as a team to lessen their risk of exposure. Quality security begins with IT asset detection – you can only protect the devices, software and systems being used by your workers.
The next thing is to adhere to best practices in susceptibility management and multidimensional authentication, while putting in place the personnel, procedures, and know-how to spot, thwart, and recover from likely attacks. This entails anticipating and planning for the most unpleasant of scenarios, executing procedures to reduce supply chain and insider risks, and rehearsing your response.
Such rehearsal drills are not only important in getting you ready for the real attacks when they come, but also helps to expose hitherto unknown problems and inspire process improvements.
An organisation can also exploit the advantages of its security investments by closing known common attack routes, especially malware sent via email and the web, which can be nullified using prevention technologies like the hardware-enforced isolation of HP Sure Click Enterprise.
Such solutions help protect systems not by detecting malicious activity, but by allowing staffs to undertake normal daily routines, including risky undertakings like opening of email attachments safely and shielding IT departments against unidentified threats.
Collaborating with industry peers
Cyber security is a collaborative endeavor. Organisations can confidently strengthen the kind of actions and habits they will like their staff to adopt by vigorous and regular awareness sessions and exercises tailored to their needs.
A good example is HP’s recently released noir–inspired cybersecurity training film for its employees. This will help the organisation build a security culture, with staff encouraged to individually manage risks.
It must be pointed out too that these collaborations should not only be internal (within organisations), but also with other players in the industry. Such external cooperation, including sharing of threat intel, will help the organisation to gauge its cyber security strength and performance, equip it with current information on cybercrime trends and risks, and how best to stay ahead of cybercriminals in the current year, and in years to come.
Emmanuel Asika is Country Head, HP Nigeria
Fifty selected young unemployed Nigerians have completed a four-week intensive digital skills bootcamp under the Digital Literacy for All (DL4ALL) initiative, gaining practical training in Data Science, Artificial Intelligence (AI), and IT Essentials.
The programme, a collaborative effort between the National Information Technology Development Agency (NITDA) and Cisco, was hosted at NITDA’s South West Zonal Office in Victoria Island, Lagos.
Speaking on behalf of the Director General of NITDA, Kashifu Inuwa , the Head of the South West Zonal Office, Mrs. Chioma Okee-Agugwo, described the initiative as a vital component of Nigeria’s digital future. “This is not just a closing ceremony. It is the launchpad for new journeys—anchored in digital knowledge and powered by innovation,” she remarked.
According to the Director General, the initiative is rooted in NITDA’s Strategic Roadmap and Action Plan (SRAP 2.0) and reflects key focus areas including Digital Literacy, Emerging Technologies, and Youth Empowerment. It also aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to accelerate economic diversification through digitisation, innovation, and skills development.
Inuwa noted that the DL4ALL initiative forms part of Nigeria’s broader commitment to digital inclusion—ensuring that no one is left behind in the evolving digital economy. It also supports the ambitious goal of achieving 70% digital literacy by 2027, championed by the Honourable Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani. This national vision aims to equip millions of Nigerians with the skills required to thrive in a tech-driven world.
He further emphasized the importance of empowering youth with globally relevant skills. “They are no longer just consumers of technology. They are creators, innovators, and future employers,” he said.
The NITDA boss explained that throughout the bootcamp, participants engaged in hands-on learning experiences designed to build both technical proficiency and digital leadership capabilities.
“This is only the beginning,” he stated. “Through our zonal strategy, we are bringing innovation closer to local communities. This is how we democratise access and unlock Nigeria’s full digital potential.”
Inuwa expressed appreciation to Cisco for delivering high-impact training and called on stakeholders to continue investing in partnerships, people, and platforms that drive digital inclusion.
He asserted that the newly certified participants are now equipped to contribute meaningfully to Nigeria’s digital economy—armed with the skills to build solutions, secure infrastructure, and launch tech ventures that solve real-world problems.
At the end of the bootcamp, participants demonstrated their knowledge through impressive presentations that showcased the integration of skills acquired across Data Science, AI, and IT Essentials. Many spoke passionately about how the programme had expanded their technical competence and sparked a drive to create job opportunities—not only for themselves but also for others—as entrepreneurs and digital solution providers in their communities.
Coinbase forecast a hit of between $180m and $400m from a cyberattack that breached account data of a “small subset” of its customers, the crypto exchange said in a regulatory filing on Thursday.
The company received an anonymous email on May 11, claiming to have information about certain customer accounts as well as internal documents.
While some data — including names, addresses and emails — was stolen, the hackers did not get access to login credentials or passwords, Coinbase said.
Still, it will reimburse customers who were tricked into sending funds to the attackers.
Hackers had paid multiple contractors and employees working in support roles outside the US to collect information.
The company has fired those involved, it said.
Separately, the New York Times reported that the US Securities and Exchange Commission (SEC) was investigating whether the company had misstated its user numbers.
Coinbase shares extended losses after the report and were last down 6.5%.
“This is a hold-over investigation from the prior administration about a metric we stopped reporting two-and-a-half years ago, which was fully disclosed to the public,” said Paul Grewal, Coinbase’s chief legal officer.
“While we strongly believe this investigation should not continue, we remain committed to working with the SEC to bring this matter to a close.”
The SEC declined to comment.
The latest developments come days before the company is set to join the benchmark S&P 500 index, casting a shadow over what was expected to be a landmark moment for the crypto industry.
Security remains a challenge for the crypto industry despite its growing mainstream acceptance.
In February, Bybit disclosed a hack in which about $1.5bn worth of digital tokens were stolen — widely described the biggest crypto heist ever.
“The cyberattack may push the industry to adopt stricter employee vetting and introduce some reputational risks,” said Bo Pei, an analyst at US Tiger Securities.
Funds stolen by hacking crypto platforms amounted to $2.2bn in 2024, according to a report from Chainalysis, a US-based blockchain analysis firm.
“As our nascent industry grows rapidly, it draws the eye of bad actors, who are becoming increasingly sophisticated in the scope of their attacks,” said Nick Jones, founder of crypto firm Zumo.
Coinbase has refused to pay a ransom of $20m demanded by the attackers and is working with law enforcement agencies. Instead it has established a $20m reward for information on the hackers.
The company is also opening a new support hub in the US and taking other measures to prevent such cyberattacks, it said.
The Nigeria Internet Registration Association (NiRA) presents its report on .ng domain name registration and renewal statistics for the first quarter of 2025, highlighting the continued expansion of Nigeria’s digital footprint. The data underscores a consistent and significant adoption of the nation’s Country Code Top-Level Domain (ccTLD), reinforcing its pivotal role in the burgeoning Nigerian digital economy.
During the period spanning January to March 2025, a total of 40,791 .ng domain names were recorded. This figure comprises 22,236 new registrations and 18,555 renewals, indicating a healthy balance between the acquisition of new digital identities and the sustained commitment of existing domain name holders to their online presence.
Analysis of the registration trends within the quarter reveals a notable upward trajectory, with a 13.92% increase in domain name registrations observed between February and March 2025.
This growth signifies an increasing recognition of the importance of a localized online identity by a diverse range of stakeholders, including individuals, startups, Small and Medium-sized Enterprises (SMEs), and larger organizations.
Notably, the .com.ng extension continues to be the dominant choice, accounting for over 60% of both new registrations and renewals. This reaffirms its status as the preferred domain name extension for Nigerian businesses seeking to establish a credible and locally relevant online brand presence while maintaining global accessibility. The sustained popularity of .com.ng underscores its perceived value among Nigerian entrepreneurs and enterprises seeking to secure their digital real estate.
This upward trajectory isn’t happening by chance. The Nigeria Internet Registration Association (NiRA) has remained intentional in its drive for digital inclusion and domain adoption. Through public education, training via the .ng Academy, outreach campaigns, and partnerships with stakeholders across the tech ecosystem, NiRA has consistently advocated for the importance of owning a local domain. The current standing of .ng as the second most registered ccTLD in Africa reflects the efficacy of these efforts.
Digital adoption in Nigeria is no longer just about being online—it’s about owning your digital identity. And with a .ng domain, Nigerians are better positioned to assert that identity, connect with local and international audiences, and gain better control over their digital footprints.
As we look toward the rest of 2025, the Q1 results serve as a strong signal: more people are embracing the digital future, and the .ng domain is increasingly becoming their first step.
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