E-Business
ABCON Urges Members to Activate Official emails and Shun Yahoo, Gmail

Association of Bureaux De Change Operators of Nigeria (ABCON) has enjoined all Bureuaux de Change (BDCs) licensed by Central Bank of Nigeria (CBN) to create or activate over 4,000 official/ corporate emails on its platform and stop use of Yahoo and Gmail for official communication.
Alhaji Aminu Gwadabe, ABCON president, said the advice followed a circular from the Other Financial Institutions (OFIs) Department of CBN, directing all OFIs including BDCs to adopt corporate e-mails for their communication with the apex bank.
Advising ABCON members to activate their emails on the automation platform to enable them comply with the CBN circular, he said all members are to visit national and zonal secretariats for further enquiry and assistance, where necessary.
Speaking further, he said: “We are also glad to inform the gathering that over 1,000 BDCs in the South-west have been integrated with the new CBN Forex return rendition platform. In due course, our members in the other zones shall be integrated to achieve online real time return rendition to CBN from the comfort of their offices. ABCON has created over 4,000 official emails on its platform for its members to enhance compliance”.
Gwadabe said ABCON proactiveness in the automation of its members’ operations, has paid off, as all BDCs now have opportunity to re-active their official e-mails on the ABCON platform.
The ABCON boss said the rising threats of cyber-security attacks on the financial system means that all stakeholders, including BDCs must be proactive to protect their data, businesses, reputation and overall operations from cyber attackers.
He said that e-mails have remained the weakest link on cyber attacks and BDCs under his leadership will continue to upgrade their IT systems to ensure that they are ahead of the cyber criminals, adding that banks, OFIs, digital wallets and remittance players are prime targets by cyber criminals seeking quick monetization of stolen credentials.
“It is therefore important that we do not relent in our efforts at protecting this space and increasing public confidence in financial system,” he said.
Gwadabe backed the OFIs Department of CBN on the policy shift, agreeing with the regulator that most cyber attacks involve the use of web or internet-based emails to send malicious software or viruses that compromise the data and IT systems of organizations, insisting that this has attendant negative impact on the confidentiality, integrity and availability of critical information assets.
He urged BDCs with corporate e-mails to comply with the CBN directive by making regulatory submissions and communicating with the regulator via e-mails as the apex bank has restricted all web-based e-mails from its domain, adding that compliance is compulsory.
Gwadabe advised BDC’s to comply swiftly with the CBN policy on corporate e-mails, adding that cyber attack can be launched through webmail and operators that are yet to integrate with the corporate e-mail may be at risk of losing huge capital or reputation, should there be system attacks.
E-Business
SERAP Calls for Withdrawal of Nigeria’s Data Act Amendment

Socio-Economic Rights and Accountability Project (SERAP) has called for the withdrawal of the amendment of the Nigeria Data Protection Act 2023 because it seeks to regulate the activities of bloggers operating within the territorial boundaries of Nigeria.
The organisation in its letter urged Mr Godswill Akpabio, Senate President, and Mr Tajudeen Abbas, Speaker of the House of Representatives, to “immediately withdraw the repressive bill.”
The titled A Bill for an Act to Amend the Nigeria Data Protection Act, 2023, to Mandate the Establishment of Physical Offices within the Territorial Boundaries of the Federal Republic of Nigeria by Social Media Platforms and for Related Matters among others intends to regulate bloggers, including by requiring all bloggers to register local offices and join recognised national association for bloggers.
Currently, the bill has passed its first and second reading in the Senate.
In the letter signed its deputy director, Mr Kolawole Oluwadare, SERAP asked Mr Akpabio and Mr Abbas “to ensure that any amendment to the Nigeria Data Protection Act promotes and protects the rights of bloggers and other journalists and does not undermine the fundamental human rights of Nigerians.”
It demanded an end to “the imposition of unnecessary restrictions on the rights of Nigerians online and Internet-based content.”
In the letter dated April 12, 2025, the group said, “This bill is a blatant attempt to bring back and fast-track the obnoxious and widely rejected social media bill by the back-door.”
“If passed, the bill would also be used to ban major social media platforms—including Facebook, X (formerly Twitter), Instagram, WhatsApp, YouTube, TikTok, and independent bloggers if they ‘continuously fail to establish/register and maintain physical offices in Nigeria for a period of 30 days.
“Lawmakers should not become arbiters of truth in the public and political domain. Regulating the activities of bloggers and forcing them to associate would have a significant chilling effect on freedom of expression and lead to censorship or restraint.
“Should the National Assembly and its leadership fail to withdraw the bill to regulate the activities of bloggers, and should any such bill be assented to by President Bola Tinubu, SERAP would consider appropriate legal action to challenge the legality of any such law and ensure it is never implemented in the public interest,” the organisation warned.
E-Business
NITDA Warns Against Fake Google Play Store

National Information Technology Development Agency (NITDA) has issued a public advisory warning Nigerians about a fraudulent website impersonating the Google Play Store.
Mrs Hadiza Umar, head of Corporate Affairs and External Relations at NITDA, made this known on Friday in Abuja.
Umar stated that the fake website was distributing a new malware strain known as the Play Praetor Trojan.
“Cybercriminals are using fraudulent websites designed to mimic the Google Play Store to lure victims into downloading malicious applications,” she said.
She explained that the fake Play Store links were being circulated through various social engineering tactics, including phishing emails, malicious advertisements, and SMS messages.
According to Umar, once the fake application is installed, the Play Praetor Trojan gives attackers unauthorised access to the victim’s device.
“This access can lead to data theft, credential harvesting, financial fraud, remote control of the device, and further malware deployment,” she warned.
She urged the public to download apps only from the official Google Play Store or other trusted sources.
Umar also advised users to verify app developers, read reviews before installation, regularly update their devices and apps to patch vulnerabilities, and use reputable mobile security solutions to detect and block threats.
E-Business
Cyberattacks: ‘56 Percent of Cases Stem from Existing Logins

A new report by Sophos, ybersecurity firm, has said that attackers primarily gained initial network access—56 per cent of all MDR and IR cases—by exploiting external remote services like firewalls and VPNs using valid credentials.
The 2025 Sophos Active Adversary Report details attacker behavior and techniques from over 400 Managed Detection and Response [MDR] and Incident Response [IR] cases in 2024.
According to the report, the combination of external remote services and valid accounts align with the top root causes of attacks.
For the second year in row, compromised credentials were the number one root cause of attacks [41% of cases]. This was followed by exploited vulnerabilities [21.79%] and brute force attacks [21.07%].
When analysing MDR and IR investigations, the Sophos X-Ops team looked specifically at ransomware, data exfiltration, and data extortion cases to identify how fast attackers progressed through the stages of an attack within an organisation.
In those three types of cases, the median time between the start of an attack and exfiltration was only 72.98 hours [3.04 days]. Furthermore, there was only a median of 2.7 hours from exfiltration to attack detection.
“Passive security is no longer enough. While prevention is essential, rapid response is critical. Organisations must actively monitor networks and act swiftly against observed telemetry.
Coordinated attacks by motivated adversaries require a coordinated defense. “For many organisations, that means combining business-specific knowledge with expert-led detection and response.
Our report confirms that organizations with proactive monitoring detect attacks faster and experience better outcomes,” said John Shier, field CISO.
The 2025 Sophos Active Adversary Report further reveals that attackers can move quickly, with a median of just 11 hours between initial access and a breach attempt on Active Directory, a critical asset in Windows environments.
Akira emerged as the most prevalent ransomware group in 2024, followed by Fog and LockBit, the latter still active despite a major takedown.
Attack detection has improved overall, with dwell time—the time attackers remain undetected—dropping from four days to just two, thanks largely to the inclusion of MDR (Managed Detection and Response) cases.
Dwell time varied depending on the type of case: it held steady at 4 days for ransomware and 11.5 days for non-ransomware cases in incident response (IR) investigations.
In contrast, MDR cases showed much faster response times—3 days for ransomware and just 1 day for non-ransom – ware attacks.
The report also highlights that 83% of ransomware deployments occurred outside local business hours, showing attackers favor overnight activity.
Additionally, Remote Desktop Protocol (RDP) was exploited in 84% of cases, making it the most commonly abused Microsoft tool.
To strengthen their cybersecurity posture, Sophos advises organizations to take several key steps.
First, they should close any exposed Remote Desktop Protocol (RDP) ports and implement phishing-resistant multifactor authentication (MFA) wherever feasible to reduce unauthorized access risks.
Additionally, companies should prioritize timely patching of vulnerable systems, especially those exposed to the internet. Deploying Endpoint Detection and Response (EDR) or Managed Detection and Response (MDR) solutions with 24/7 monitoring is crucial.
Finally, having a well-defined incident response plan—and regularly testing it through simulations or tabletop exercises—can greatly improve preparedness for potential attacks.
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