E-Business
Nigeria Exchange Group confirms Jude Chiemeka as NGX CEO

Nigerian Exchange Group has announced the appointment of Jude Chiemeka as the Chief Executive Officer of Nigerian Exchange Limited.

Jude Chiemeka
Chiemeka’s appointment is to take effect from July 1, 2024.
This was disclosed in a statement made available to The PUNCH by the Head of Group Communications and Partnerships, NGX, Clifford Akpolo on Thursday.
His appointment followed approval from the Securities and Exchange Commission.
Chiemeka has been serving as the acting CEO since January 1, the role previously held by Temi Popoola, who transitioned to the position of Group Managing Director and CEO of NGX Group.
According to the statement, Chiemeka brings three decades of experience in African securities trading and asset management to his new role. His career includes leadership positions such as Executive Director of Capital Markets at NGX and MD/CEO at United Capital Securities Limited.
“He has also contributed to the industry through roles at investment banking firms in Nigeria, including Chapel Hill Denham Securities and Rencap Securities (Nigeria). A Fellow of the Chartered Institute of Stockbrokers, Chiemeka is an alumnus of the University of Lagos, Lagos Business School, and the University of Oxford, UK,” the statement reads.
The Group Chairman of NGX Group, Umaru Kwairanga, expressed confidence that with Chiemeka’s leadership, NGX will continue to play a crucial role in fostering economic growth in Nigeria and across Africa.
Also commenting on the appointment, the Chairman of Nigerian Exchange Limited, Ahonsi Unuigbe, echoed the same sentiments, affirming that Chiemeka will unlock new opportunities for investors in the capital market.
“The Board of NGX is pleased to confirm Mr. Chiemeka’s appointment as CEO of The Exchange. It is our hope and expectation that he will drive growth and innovation, enhance our operational perspectives, democratize investment in the capital market, and unlock opportunities for investors,’’ Ahonsi said.
On his part, Popoola noted that Chiemeka’s appointment would create value for stakeholders across the organization.
“I am delighted to see Mr. Chiemeka step into the role of CEO of NGX. His extensive experience and deep understanding of our markets will be crucial in driving NGX’s growth while aligning with our broader group strategy.
“I look forward to working closely with him to unlock value and to create new opportunities for stakeholders across the entire NGX Group ecosystem,” he stated.
Chiemeka pledged to collaborate closely with NGX’s team and the wider capital market community to create a more dynamic and inclusive exchange that enhances Nigeria’s economic growth and global competitiveness.
E-Business
Kaspersky Uncovers Sophisticated Deception Campaign using DeepSeek AI as Bait

Security researchers at Kaspersky have revealed how cybercriminals used geofencing, compromised business accounts and coordinated bot networks to distribute malware disguised as DeepSeek AI software, generating over 1.2 million views on X.
Kaspersky’s Threat Research and AI Technology Research have jointly identified a sophisticated deception campaign exploiting the rapid growth and public interest surrounding DeepSeek AI — a popular generative AI chatbot — in order to distribute malware through fraudulent websites.
In their investigation, Kaspersky researchers revealed that cybercriminals established deceptive replicas of the official DeepSeek website, using domain names like “deepseek-pc-ai[.]com” and “deepseek-ai-soft[.]com.”
A distinctive feature of this campaign was its use of geofencing technology, where malicious websites examine each visitor’s IP address and dynamically alter content presentation based on geographic location, enabling attackers to fine-tune their approach and reduce detection risks.
“This campaign demonstrates notable sophistication beyond typical social engineering attacks,” explained Vasily Kolesnikov, senior malware analyst at Kaspersky Threat Research.
“Attackers exploited the current hype around generative AI technology, skillfully combining targeted geofencing, compromised business accounts and orchestrated bot amplification to reach a substantial audience while carefully evading cybersecurity defenses.”
According to Kaspersky’s analysis, the campaign’s primary distribution channel was the social media platform X. Attackers strategically compromised the social media account of a legitimate Australian company to widely disseminate fraudulent links. This single malicious post drew significant attention, reaching approximately 1.2 million impressions and generating hundreds of reposts.
Researchers determined that these reposts largely originated from coordinated bot accounts — evident due to their similar naming conventions and profile characteristics — indicating a deliberate amplification of the malicious content.
Visitors lured to the fraudulent websites were directed to download a fabricated DeepSeek client application. Instead of the authentic software, these sites delivered malicious installers using the Inno Setup installation platform.
Once executed, these compromised installers attempted to contact remote command-and-control servers to retrieve Base64-encoded PowerShell scripts. These scripts subsequently activated Windows’ built-in SSH service, reconfigured it with attacker-controlled keys and enabled full remote unauthorised access to compromised systems.
All malware payloads connected to this campaign are proactively identified and blocked by Kaspersky security products such as Trojan-Downloader.Win32.TookPS.* variants.
E-Business
GBB to Train Over 300 Civil Servants on Govmail

Galaxy Backbone (GBB), the nation’s foremost digital infrastructure and services provider, is set to train over 300 civil servants, including Email Administrators and Heads of ICT, on the adoption, management, and administration of Govmail—the secure official email platform for Nigeria’s public sector.
The training, which will be conducted in batches throughout the month of March 2025, aims to ensure maximum impact and effective knowledge transfer.
This initiative is in alignment with the Federal Government’s digitalisation agenda, which prioritizes secure, efficient, and technology-driven governance. By equipping civil servants with the necessary expertise to optimize Govmail, the government is ensuring seamless communication across Ministries, Departments, and Agencies (MDAs) while strengthening data security and operational efficiency.
Prof. Ibrahim Adeyanju, the Managing Director/CEO of Galaxy Backbone, reaffirmed the organisation’s commitment to driving Nigeria’s digital transformation through innovative and secure technology solutions.
“As the nation’s leading provider of digital infrastructure, GBB is playing a pivotal role in ensuring that government communications are secured, professional, and aligned with global best practices. This training will enhance civil servants’ ability to effectively utilize Govmail in carrying out their official responsibilities,” he stated.
The training is being conducted in collaboration with the Office of the Head of the Civil Service of the Federation (OHCSF), who has sent out a Circular to all MDAs informing them of this specialized training aimed at providing hands on experience with GOVMAIl features and ensure uniform adoption of and compliance with government approved digital communications standards. This further reinforces the government’s commitment to a digitally-driven public service.
It would be recalled that the Head of the Civil Service of the Federation recently described Govmail as a ‘game changer’ for government communication. This underscores the significance of the platform in enhancing inter-agency collaboration, data sovereignty, and information security across all MDAs.
Through this capacity-building initiative, GBB is reinforcing its role as a key enabler of Nigeria’s digital transformation journey, ensuring that public sector professionals are well-equipped to harness the full potential of digital tools in their daily operations.
E-Business
NITDA Identifies Key Barriers to Cybersecurity in Nigeria

National Information Technology Development Agency (NITDA) has identified outdated frameworks, inadequate expertise, and low awareness as major barriers to effective cybersecurity interventions in Nigeria.
Dr Ayodele Bakare, deputy director, Cybersecurity Department, NITDA, made this known on Friday during a meeting with a delegation from the United Kingdom (UK) in Abuja.
The discussion focused on building a national cybersecurity infrastructure.
Bakare highlighted that cybersecurity is a borderless issue, requiring both local and international collaboration as well as strategic interventions to address emerging threats.
He noted that while Nigeria has existing cybersecurity frameworks and policies, their effectiveness in tackling evolving threats—particularly those driven by Artificial Intelligence (AI)—remains questionable.
Some of the key frameworks he mentioned include the Cybercrime Act 2015, which was recently amended in 2024, and the Nigerian Data Protection Act 2023, both of which play a crucial role in shaping the country’s cybersecurity landscape.
“NITDA, seven years ago, released the National Public Key Infrastructure as a regulation. We also have other sectoral frameworks, such as the Risk-Based Cybersecurity Framework for financial institutions released by the Central Bank of Nigeria.
“Given the fact that we have all these frameworks, their effectiveness is still a question, and I think the first thing is for a rebase line on the basis that informs the existing frameworks.
“The majority of the frameworks were issued far before now, and there are emerging risks like AI-driven threats, and some of the frameworks that we have are not really addressing them,” he said.
Bakare also pointed out that despite ongoing public awareness efforts, cyber threats such as device code phishing remain widespread.
He shared a personal experience of nearly falling victim to such an attack, emphasising that many Nigerians are still unaware of modern cyber threats.
He called for enhanced, interactive awareness campaigns to better educate the public on cyber risks.
In addition, Bakare highlighted Nigeria’s shortage of skilled cybersecurity professionals, stating that the country has only about 8,300 cybersecurity experts for a population of 220 million. He stressed the urgent need to develop skills in the sector.
“We are looking for platforms that can provide an efficient way of training people, and we are also looking at collaborations that can help bring down the cost of cybersecurity certification courses.
“Averagely, you see Nigerians spending between 2,000 dollars to 5,000 dollars for this certification, which is very expensive, and reducing the cost will increase the number of experts,” he said.
Bakare also raised concerns about governance, risk management, and compliance among government institutions, revealing that NITDA is working on an audit regime to ensure adherence to cybersecurity frameworks.
He further noted the need for more efficient threat intelligence platforms that can gather, analyse, and share information on cybersecurity threats.
According to him, adopting cloud-based solutions could help institutions identify and mitigate external threats more effectively.
“The government is making efforts to ensure the management and effective utilisation of the National Public Key Infrastructure (PKI) to secure online transactions and communications in collaboration with stakeholders.
“For government institutions, we are working on a framework for Zero Trust, which should create an efficient platform.
“The platform will ensure that before you access any information-based system, either cloud-based or on-premise, you have to go through a Zero Trust platform.
“This is to ensure that digital trust is effectively maintained and that the incidences of data leakages are reduced,” Bakare said.
He added that NITDA is developing a National Cybersecurity Architecture that will consolidate various cybersecurity initiatives and frameworks into a single, unified strategy.
“We are working towards an architecture that will serve as the single source of truth for Nigeria’s National Cybersecurity Strategy and help streamline efforts for effective management of cyberspace,” he said.
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