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Deloitte: Nigerian Cyber Security Outlook 2015

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Our 2014 cyber security outlook was an eye-opener into the Nigerian cyberspace as all the predictions made were accurate.

2015 must therefore not be underestimated as the seeming deduction is that the hackers are always one step ahead; this is a gap that must be bridged

31,536,000; the number of seconds that made up the year 2014. Around the world, each second was used effectively by hackers in planning attacks and exploiting vulnerable people, systems and processes.

Brazen attacks unlike anything we have ever witnessed before were carried out and from all indications, 2015 is likely to be another roller coaster ride.

From the reported hack on the US retail giant (Target), to the Sony pictures entertainment security breach, there is a growing trend in terms of bravado on the part of hackers.

In 2014, the National Assembly of Nigeria made a bold move in the war against cybercrime when the Senate passed the Cybercrime Bill.

This feat in addition to the cyber security strategy and policy documents introduced by the Office of the National Security Adviser (NSA) are attributes that define 2014 as the year of the awakening.

With each cyber-attack, companies lose millions, trust by consumers get eroded and a trove of confidential information are published.

In 2015, we are expecting newspaper front-page headlines to include issues around cyber security incidents.

The year will witness an increase in cyber security issues that may likely reduce towards the last quarter.

However, the reduction will only be based on a successful implementation of the Bank Verification Number (BVN) and electronic ID by the National Identity Management Committee (NIMC).

Our 2014 cyber security outlook was an eye-opener into the Nigerian cyberspace as all the predictions made were accurate.

2015 must therefore not be underestimated as the seeming deduction is that the hackers are always one step ahead; this is a gap that must be bridged.

Based on current events in both social and economic realms in Nigeria, we have reviewed below some of the cyber security trends and threats that are likely to be significant in 2015.

Phishing And Insider Threats will continue to be biggest cyber threat sources in Nigeria especially as crude oil prices continue to fall:

Phishing is a form of social engineering that attempts to acquire sensitive information such as usernames, passwords, and ATM card details (and sometimes, indirectly, money) by masquerading as a trustworthy entity in an electronic communication.

Phishing is a continual threat that keeps growing to this day. The risk grows even larger in social media such as Facebook, Twitter, Myspace etc.

An Insider threat is a malicious threat to an organization that comes from people within the organization, such as employees, former employees, contractors or business associates, who have insider information concerning the organization’s security practices, data and computer systems.

As companies take austerity measures such as downsizing and salary slashing due to the falling crude oil prices and the devaluation of the naira, there is a higher risk that employees, former employees or contractors result to cybercrime as a means to maintain their standard of living.

We are likely going to see an unprecedented rise in attacks from disgruntled employees.

The cybercrime of choice by majority of the Nigerian cyber criminals would be via social engineering.

Intelligently crafted phishing emails and phone calls to naïve customers will increase.

Socially And Politically Motivated Cyber-Attacks:

With the coming elections in 2015, there may be an increase in the cyber-attack of the websites and information technology (IT) infrastructure of political organisations and public institutions possibly as a means of expressing grievances.

Nigeria witnessed a similar occurrence during the socio-political protest movement of January 2012 in response to the fuel subsidy removal by the Federal Government.

These attacks could be in form of denial of service attacks and website defacements.

Also, there is the potential for increased numbers in local hacker groups to further their agenda by compromising or attacking Government-owned infrastructure.

As such, this is a call to all stakeholders concerned to put the necessary security measures in their cyber infrastructure.

Prosecution Of Cyber Related Crimes Is Likely To Experience A Major Boost:

With the passage of the cybercrime bill by the Senate, organisations will now have legal basis for prosecuting cybercrime once it is signed into law.

Organizations can put measures in place to track down cyber criminals.

We are likely to see more collaboration between organizations in tackling cybercrime as the Central Bank of Nigeria (CBN) drives the Nigerian e-Fraud Forum (NeFF) – where banks meet to share experiences on fraud and mitigating factors.

The sharing of cyber security intelligence in the financial sector is expected to grow in 2015 and would serve as a model for other areas of the economy.

From the just concluded annual Deloitte Chief Information Security Officer roundtable event in December 2014, there was a recurring theme of cyber security intelligence sharing as a win-win way to tackle cybercrime and be steps ahead of the hacker.

This will also boost efforts in tracking and prosecuting cyber criminals.

Outsourcing Of Information Security Function:

With the shortage of security specialist skills in many companies, the ever-changing threat landscape and the need for 24/7 monitoring and response on certain technological platform especially in Financial Institutions and telecom companies, organizations will need to continually invest more in implementing additional security infrastructure, security training for their personnel and active recruitment for currently skilled professionals.

And with prudency in budgeting for organizations, more companies will consider outsourcing their information security function as a more viable option.

Increased Compliance Costs In Non-Financial Sectors:

In 2015, we are likely to see new sets of compliance regulations for industries with connection to the financial sector.

Though the Central Bank of Nigeria (CBN) has regulated the financial services industry with a variety of compliance rules in 2014, we are likely to see talks or nascent development stages of information security compliance standards for other areas of the economy.

There will be an increase in the cost of compliance as regulators may require organizations to comply with new regulations, with repercussions for defaulting.

Also with the adoption of the COBIT5 framework by Nigeria, other sectors will soon need to have security policies that align with leading frameworks and standards.

Senior Level Executives Will Be Held More Accountable And Possibly Fired For Security Breaches:

We are likely to see executive dismissals as a direct result of security breaches.

Senior level executives will be held more accountable and possibly fired for security breaches if adequate measures are not in place.

More so, if the brand of an organization suffers to recover in time as a result of a security breach, Chief Information Security Officers and Chief Information Officers will come under serious ‘fire’ from the board and top executives as they struggle to cope with incessant attacks on their networks.

According to a report by Gartner, “through 2016, 75% of CISO’s who experience publicly disclosed security breaches and lack documented, tested response plans will be fired.”

The unending battle in cyberspace calls for a more proactive, predictive and robust system that can match tools and techniques used by cyber criminals.

Organizations need to ensure they increase vigilance of their assets, learn from previous mistakes and deploy appropriate countermeasures in order to survive in 2015.

I wish you a cyber-secure New Year.

Tope is the Head, Cyber Risk Services at Deloitte Nigeria. He currently leads the largest team of information security consultants in Nigeria. Tope has significant security consulting, project management and auditing experience and has served several organizations in Nigeria, Togo, Ghana, South Africa, Cameroon and UK. He has experience performing IT advisory and assurance services to 85% of the commercial banks in Nigeria and over 30% of the companies quoted on The Nigerian Stock Exchange.

 


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NIMC Denies Blocking Police Commission from Verification Server

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National Identity Management Commission (NIMC) has clarified that all its verification service platforms remain fully functional and accessible to all authorized partners, including security agencies.

NIMC Denies Blocking Police Commission from Verification Server

Abisoye Coker-Odusote, DG, NIMC

In a statement on Thursday, the Commission firmly denied claims that it had denied the Police Service Commission (PSC) access to its verification server.

Dr. Kayode Adegoke, head of Corporate Communications, NIMC, described the reported “inability of the Police Service Commission to access the NIMC verification server” as misleading and inaccurate.

He suggested that any challenges faced by the PSC may be due to internal issues within the commission itself, not from NIMC’s end.

The statement reads: “To set the record straight, the NIMC granted verification access to all Nigerian Police formations for the verification of the National Identification Number (NIN). The NPF, PSC and other security agencies have been enjoying uninterrupted verification services for over five years.

“NIMC has provided top-notch verification services for recruitment into the Nigeria Police Force, as conducted by the PSC and at no time have there been any complaints or issues regarding NIN Verification by the NPF or PSC.

“The Commission has a robust and harmonious working relationship with the Nigerian Police Force and the Police Service Commission. The Information Communications and Technology (ICT) department of the Nigeria Police Force is actively managing the long-standing verification and integration service between the NIMC and all Nigeria Police formations.Entertainment tourism packages

“NIMC will continue to provide flawless verification services for the purpose of recruitment, security mapping, cybercrime control, and any other security matters.

“The framework by which NIMC provides services to the security agencies was recently restructured for standardization and effective implementation, following consultation with the Office of the National Security Adviser, and NPF has confirmed the verification services have continued to be available. We therefore believe that any service interruption experienced by PSC may be due to internal matters.

“NIMC is committed to providing excellent verification services to the PSC, NPF and all its partners but the terms and conditions inherent must be adhered to for uninterrupted flow of service.”


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Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

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Nigerian government, through the Office of the National Security Adviser (ONSA) and the National Information Technology Development Agency (NITDA), has announced a strategic collaboration to strengthen cybersecurity and clean up the nation’s cyberspace.

Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

Recognizing that cybercrime knows no borders, Nigeria also reaffirmed its commitment to fostering stronger global partnerships within the cybersecurity ecosystem.

This announcement was made during a press conference before the inaugural National Cybersecurity Conference, which is scheduled to take place in Abuja from July 9th to 11th, 2025.

Sa’ad Abubakar, national cybersecurity coordinator from the Office of National Security Advisor, said fighting cybercrime must take the whole of society and the whole of the government approach.

According to him, “Apart from the deterrent approach whereby government agencies such as Economic and Financial Crimes Commission (EFCC) arrest individuals, take them to court and prosecute them, the youth can be nurtured into better citizens who can showcase their capacity in better ways and be useful to the country.”

Similarly, Kashifu Abdullahi, director-general, NITDA,  also stressed the need for collaborative efforts in fighting cybercrimes.

According to him “Then, in addition to that, we also want to build a stronger global collaboration with the global cyber security ecosystem, because when you look at cybercrime in general, it doesn’t respect the borders.

“Someone can commit a crime from Ghana using a Nigerian ID in the US. So you can look at him physically in a different jurisdiction, pretending to be in another jurisdiction, committing the crime in another jurisdiction.

“So without that kind of synergy and working together, it will be difficult to address these challenges. The third one is challenge. The third one is getting an alternative to cybercrime for our kids in Nigeria. We have this as a major challenge.”

Inuwa further highlighted the upcoming conference’s importance, noting that it would tackle key issues through workshops, discussions on emerging threats, cross-border cybersecurity collaboration strategies, and training programmes.

He also announced that the National Cybersecurity Conference 2025 would feature the Cybersecurity Excellence Awards, recognising top contributions in the field.

The DG extended an invitation to global partners to collaborate with Nigeria in building a safer digital future.

The press conference was attended by notable figures, including Ahmad Sa’ad Abubakar, National Coordinator of, the National Cybersecurity Coordination Centre (NCCC); Hanniel Jafar, Representative of the President, of Cyber Security Experts Association of Nigeria (CSEAN); Ankit Shukla, Managing Director, QNA Marketing Management LLC and members of the press and other stakeholders.


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AXIAN Telecom Invests in Jumia Post-MTN Era

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XIAN Telecom has acquired an 8% stake in pan-African e-commerce company Jumia Technologies, citing the platform’s fintech and logistics strengths as key drivers of its backing.

This marks the first major telecom investment in Jumia since MTN Group’s exit in 2020.

AXIAN, a fast-growing telecom and digital services provider with operations across Africa, disclosed the purchase in a Schedule 13D filing with the U.S. Securities and Exchange Commission.

While the financial terms were not disclosed, AXIAN Telecom CEO, Hassan Jaber, described the move as a strategic alignment with Jumia’s growth trajectory and digital ecosystem.

“Jumia’s achievements in digital retail and fintech, particularly through JumiaPay and its logistics network, make it a very attractive investment for us. We believe in Jumia’s potential to promote financial and economic inclusion, which aligns with our core values,” said Jaber.

Once dubbed the “Amazon of Africa,” Jumia became the first African-founded tech company to list on the New York Stock Exchange in 2019.

But years of underperformance, leadership changes, and competitive pressures dented investor confidence.

In October 2020, South Africa’s MTN Group offloaded its 18.9% stake for $138 million, well below the $698 million value it once held post-IPO.

Since then, Jumia has undergone a significant transformation. Under CEO Francis Dufay, appointed in 2022, the company exited low-performing markets like South Africa and Tunisia, cut costs, and doubled down on core markets – Nigeria, Kenya, Egypt, and Morocco.

The firm is now focused on high-growth verticals, including everyday essentials and digital financial services.

Jumia’s regional CEO for East Africa, Vinod Goel, recently revealed plans to scale up international brand offerings and open its logistics network to third-party businesses.

Jaber underscored that AXIAN Telecom’s investment signals renewed confidence in Jumia’s long-term potential.

The telecom firm’s CEO said the company views Jumia as a key player in advancing Africa’s digital economy, aligning with AXIAN’s mission through its fintech and digital infrastructure brands such as Yas and Mixx by Yas.

 


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