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Cyber Security Myths You Must Forget, To Avoid Being Hacked
Cyber security threats are real. The cyber traitors penetrate every facet of the economy.
For instance, the Nigerian Inter-Bank Settlement System, NIBSS), disclosed that the banking industry lost the sum of N12.30 billion to various frauds between 2014 and 2017, with male accounting for 73 percent of the total fraud committed.
Mr Adebisi Shonubi, Managing Director of NIBBS, made the disclosure at the third Annual Banking Security Summit organized by MAXUT Consulting in partnership with OneSpan, a global data security company in Lagos, recently.
Specifically, he noted that 2014 fraud volume stood at 1,461, 10,743 (2015), 19,531 in 2016 and 25,043 in 2017.
Speaking on “Industry fraud overview with focus on mobile & payments related frauds,” Shonubi said the industry lost N6.22 billion in 2014 on attempted fraud value of N7.76 billion.
Thus, because of these trends companies are even falling prey to two myths that often cloud the judgement of business owners when it comes to Cyber-attacks.
Whilst they mostly think they are safe, the myths actually increase their chances of falling in the hands of cyber-criminals and hackers.
The first Cyber Security Myth is that many business owners still believe that all cyber attacks are targeted.
This means that unless they’re specifically selected as the prey of a hacking attack, they won’t fall victim.
It is not uncommon to see businesses that believe they will not be in the sights of cybercriminals, so aren’t at risk from suffering the negative effects of a cyber-attack.
You may even be one of such people with this belief, but if you ask the Western business leaders that were hit by NotPetya in 2017, they would definitely have stories to tell you that would change your mindset about cyber-attacks.
To quickly recap what NotPetya was about – it was a malware campaign launched against Ukraine by Russia, which quickly spread around the world, knocking businesses offline and doing vast amounts of damage to people who weren’t primary targets of the attack in the first place.
The original target of the attack was Ukrainian infrastructure, but it damaged — amongst other things — British advertising and pharmaceutical companies, as well as the shipping giant, Maersk!
The impact of NotPetya forced Maersk to reinstall 4,000 servers and over 45,000 PCs, with losses caused by serious business interruption estimated to amount to over $300m, despite the shipping firm never being the intended target of the attack.
Another example of how unsuspecting organizations can find themselves the victims of a major cyber attack is the incidence of WannaCry Ransomware.
The UK’s National Health Service found itself an unwitting victim of the campaign spread via an aggressive worm-like virus launched by North Korea in an effort to extort ransoms.
Despite the fact that you would wonder about the absurdity of attacking a body like NHS, yet they weren’t spared. This means that when it comes to cyber attacks, there is really no one that can be spared!
The second Cyber Security Myth is that some businesses don’t engage with cybersecurity because they believe it to be too complicated.
This is quite an irony as businesses usually have to deal with complicated issues every day, and it begs the question of why understanding cyber-security should be too complicated to figure out. Actually, it isn’t even complicated!
If your company can deal with complex data, millions of financial transactions, transportation of goods from one end to another, provision of services to diverse customers, or anything at all, cybersecurity is not something you should not be able to comprehend and deploy.
Even simple activities like ensuring systems and software are up to date can go a long way to protecting organizations from cyberattacks.
This approach could have helped organizations around the world avoid becoming victims of Cloud Hopper, a data-stealing espionage campaign, which Western authorities have attributed to China’s state-backed hacking group APT10.
Much of the campaign was based around distributing phishing emails containing malicious Word documents, which — when opened — ran macros that retrieve malware.
If the targeted organizations had applied relevant patches, the vulnerabilities exploited by the attackers wouldn’t have had any effect. And you can only blame this on poor cybersecurity or understanding of it because while the APT in APT10 stands for ‘Advanced Persistent Threat’, the attack wasn’t that advanced.
Dispelling these two cybersecurity myths from your mind can go a long way from keeping you safe against attacks that may put your business data and infrastructure at risk of loss or ransom.
To know about more myths that need to be forgotten, or get exposed to different ways to mitigate cybersecurity threats, make it a date to the Sidmach-Sophos Lunch and Learn event happening this February.
At the event, you will also learn about cost effective security dynamics, get introduced to tools that mitigate latest threats, have complete visibility and control of your IT Infrastructure.
To know how to dispel these myths REGISTER for Sophos/Sidmach Lunch & Learn. Email: corporate@sidmach.com
Attendance is strictly by registration!
Telecom
Oluwaseun Dania Named Among Top 50 Most Influential People of African Descent for Philanthropy & Social Impact
Visionary entrepreneur, multi-sectoral leader, and tireless advocate for sustainable development, Oluwaseun Dania has been named one of the Top 50 Most Influential People of African Descent (MIPAD) in the Philanthropy & Social Impact category.
This prestigious global recognition, organised in support of the United Nations’ International Decade for People of African Descent, celebrates individuals creating meaningful change through purpose-driven leadership.
Dania, the CEO of Crello, a cross-border B2B fintech platform, and Alpha-Geek Technologies, a digital innovation firm, is a serial entrepreneur whose impact spans finance, technology, agriculture, energy, and philanthropy. His inclusion in the 2025 MIPAD honours list is a resounding acknowledgement of his lifelong dedication to empowering communities, advancing sustainability, and leveraging innovation for good.
From Tech to Soil: A Holistic Vision for Impact
Dania’s work in agriculture, through his venture Westnova Farms, focuses on transforming local farming ecosystems using innovative agricultural practices that support food security, economic growth, and environmental conservation. His dedication to green innovation and regenerative agriculture reflects his belief in building future-proof solutions from the ground up.
In the oil and gas/energy sector, Dania is widely respected for his expertise in Health, Safety & Environment (HSE) and sustainable energy policy. He is a sought-after voice on issues surrounding energy transition, corporate responsibility, and green compliance frameworks, particularly across sub-Saharan Africa.
Tech-Driven Philanthropy That Transforms Lives
As founder of the Oluwaseun Dania International Foundation, he leads bold initiatives that impact lives across Nigeria; most notably, teaching children in remote communities to create NFTs through digital art, producing an award-winning film confronting the drug crisis, and building an eco-friendly school from recycled pet bottles to deliver free education.
“This honour from MIPAD goes beyond personal achievement; it reflects the power of a collective mission to uplift, inspire, and transform,” Dania stated. “Whether through fintech, agriculture, or sustainability, I believe that every innovation must answer a social need.”
Global Recognition, African Roots
Previously recognised by the Friendship Ambassadors Foundation and profiled in Marquis Who’s Who, Dania has become a leading force in Africa’s digital and social renaissance.
He holds over 30 certifications across cybersecurity, engineering, compliance, and enterprise architecture, and is a member of respected global institutions including the Forbes Business Council.
The 2025 MIPAD honorees will be celebrated during United Nations General Assembly (UNGA) Week in New York City in September 2025, spotlighting global changemakers of African descent who are redefining leadership through equity, innovation, and action.
Telecom
GBB Reaffirms Commitment to Driving Public Sector Innovation @ the 5th Public Service Innovation Competition Awards
Galaxy Backbone (GBB), Nigeria’s digital infrastructure and shared services provider, joined other key government institutions at the 5th Public Service Innovation Competition Award Ceremony, organized by the Office of the Head of the Civil Service of the Federation (OHCSF).
The event, which held in Abuja, celebrated groundbreaking ideas from Ministries, Departments, and Agencies (MDAs) that are reimagining public service delivery through innovation.
The ceremony, which attracted notable dignitaries including the Chief Host herself, The Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, OON mni. Others include, former Heads of Service, Dame Amal Pepple and Mr. Danladi Kifasi, and the Chairman of the House Committee on Public Service, Hon. Sani Bala, showcased the vibrancy and ingenuity of Nigeria’s Civil Servants.
Delivering a goodwill message on behalf of the MD/CEO of Galaxy Backbone, Mr. Sani Ibrahim, Executive Director, Finance & Corporate Services, underscored the importance of inter-agency collaboration, digital literacy, and innovative thinking as pillars for national development.
He emphasized that GBB remains deeply committed to supporting initiatives like the Innovation Competition, which foster a culture of creativity, problem-solving, and transformation across the public sector.
“Innovation is no longer a luxury — it is essential to building a responsive, efficient, and digitally enabled government. At Galaxy Backbone, we are proud to align with this vision through our Integrated Digital Transformation Strategy (IDTS), which drives digital infrastructure, innovation, data security, and capacity building across MDAs,” he stated.
The 2025 edition of the competition saw an outstanding 155 entries, with 132 individuals pitching innovative ideas and 66 thematic teams presenting implementable solutions designed to enhance service delivery and governance.
Themed around streamlining bureaucratic processes, succession planning, employee welfare, and change management, this year’s event reaffirmed the role of innovation in shaping a future-ready public service.
Galaxy Backbone recognizes the critical role of digital transformation in empowering civil servants to create lasting impact. By supporting platforms such as the Public Service Innovation Competition, GBB reinforces its commitment to equipping the public sector with the tools, skills, and digital infrastructure necessary for Nigeria’s progress.
As part of this commitment, GBB will also be providing mentorship for all the winners of the innovation challenge, helping them refine their ideas, scale implementation, and drive sustainable transformation across the public service.
As the country advances on its journey toward e-governance and efficient service delivery, GBB continues to stand as a strategic partner in building a connected, innovative, and digitally skilled public service.
Not long ago, cash was dominant in Africa, but digital payments are now rapidly gaining traction.
From Lagos to Kenya and the US, businesses are recognising that embracing digital methods is essential for growth.
A Mastercard-commissioned report forecasts Africa’s digital payments market will reach $1.5 trillion by 2030, fueled by increased mobile phone usage and e-commerce. While cash is still common, mobile money is on the rise.
Zabira is simplifying this transition for SMEs, freelancers, and online merchants. In August 2019, the company launched Zabira to innovate Nigeria’s cashless transaction market, offering services like crypto trading and utility payments.
The Zabira app supports four major fiat currencies—USD, NGN, GHC, and KES, making cross-border transactions seamless. It also provides access to over 20 cryptocurrencies, giving users flexibility and freedom in managing their digital finances.
For small business owners looking to adopt digital payments, here are five easy tips to get started.
1. Choose a Platform That Does It All
Choose a digital payment platform like Zabira that offers multiple services in one app, including cryptocurrency trading, utility bill payments, and fiat transactions, to manage your financial life seamlessly.
2. Integrate Crypto Payments Early
Africa is rapidly growing as a crypto market. Zabira allows businesses to accept Bitcoin, Ethereum, and USDT, facilitating real-time trading of crypto assets. This gives businesses a competitive advantage in international commerce, particularly with diasporan clients.
3. Get Paid Instantly, No delay
Waiting three to five business days for payment to clear can disrupt cash flow. Zabira offers instant fiat payments through a robust blockchain system, allowing businesses to move money quickly, pay suppliers faster, and avoid telling customers to “wait till Monday.”
4. Opt for a user-friendly app
Zabira is incredibly easy to use, with no confusing menus or hidden steps. Users can download the app on Android and on iOS.
5. Offer More Than Just Products
Zabira offers more than money transfers; users can top up airtime and data, pay cable bills, and fund betting wallets within the app. Businesses can learn to add value beyond just selling products.
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