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E-Business

E-Commerce Boosts Nigeria Listing As 20 Fastest Growing Economies

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According to latest survey released by New York based financial newswire service, Bloomberg, Africa’s largest economy Nigeria has been ranked among 20 fastest growing economies in the World.

Leading online shopping community Kaymu.com.ng has attributed Nigeria’s listing to the upshot of e-commerce in the country.

In an accompanying chart by Bloomberg, Nigeria with an expected growth rate of 4.9% was ranked sixth behind China (7%), the Philippines (6.3%), Kenya (6%), India (5.5%) and Indonesia (5.4%).

Evangeline Wiles, managing director of Kaymu.com, in a statement released by the company, said, “Nigeria’s e-commerce space is the fastest growing in Africa contributing a monthly spend of 1.3bn to the Nigerian retail sector. The role the retail sector plays in driving Nigeria’s economy cannot be overemphasized as a country’s purchasing power is a major driver of the economy”.

The explosion of the E-commerce space in the last two years has fuelled a massive consumer behavioral change.

E-commerce in Nigeria records over $2m worth of transactions per week and close to 1.3bn per month from the 38% of Nigerians who prefer to buy products through the internet, according to a survey conducted by the business management and consulting firm Philip Consulting.

Nigerians have a vast spending culture both locally and internationally. Recent statistics from Heathrow Airport show that Nigerian travellers – who patronize the service – spend an average of £1,059 per visit on luxury retail.

The Minister of Communication Technology, Omobola Johnson has said that E-commerce has attracted over $200 million foreign investment till date thereby expanding infrastructure, warehousing, advertising and logistics services industry.

Explaining how e-commerce application has impacted the nation’s economy which is projected to have a market potential of over $10 billion, the Minister added that in the last two years (2012), it was worth $35 million, and now (2014) it is valued at about $550 million and has moved from 1000 daily orders to about 15, 000, adding that the sector has in the last two years created 15, 000 jobs.

If there is anything to look forward to in Nigeria this year, it is the rapid growth of the economy. CNN Money in 2014 stated that Nigeria’s economy grew by 7.1% and is expected to grow by another 7% in 2015.

Kaymu is Nigeria’s number one safest online shopping community where buyers and sellers can meet and make the best deals for used or new products, such as: mobile phones, laptops, latest fashion and clothing products and home appliances.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

E-Business

FG Launches Online Visa Approval Centre

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Dr. Olubunmi Tunji-Ojo, minister of Interior, has announced the launch of an Online Visa Approval Center to eliminate bureaucratic bottlenecks and reduce corruption in the visa application process.

FG Launches Online Visa Approval Centre

Commissioned by the President in December, the new system ensures that applicants no longer need to visit a visa office, know anyone in the system, or lobby for approvals.

At a stakeholders’ sensitisation workshop on the implementation of the Nigeria Visa Policy (NVP) 2025, yesterday in Abuja, Dr. Tunji-Ojo said the visa is considered a very important document by the government because it is an instrument of migration management and an instrument of economic development.

The minister explained that Nigeria has to strike a delicate balance between national security and, of course, the ease of migration.

“And we think that it’s something that we can do and something we will do.

“We don’t have a physical Visa Approval Center. If you apply for a Nigerian visa anywhere in the world, you do so online. We process it here in Nigeria, and if approved, you receive your e-visa in your email,” he explained.

To enhance efficiency, the government has set a 48-hour deadline for processing e-visas.

“It is unprofessional and unacceptable for the Nigeria Immigration Service not to approve or provide feedback within 48 hours,” the minister stated.

“It breaks my heart that people need to lobby to even get visas to Nigeria. It shouldn’t be so. It shouldn’t be.

“For anybody that is qualified, for anybody that wants to do legitimate activities in Nigeria, such people should be able to come to Nigeria easily. And this is why we are opening our space. Mr. President is interested in foreign direct investments.”

Further, he said Nigeria is interested in partnering with the rest of the world to develop its economy but, “We can’t do that when we allow bottlenecks to hold us down. So these reforms, basically, are aimed at opening our space, enhancing national security, and we hope that the primary responsibilities of the visa scheme will be achieved.”

Kemi Nandap, controller general, Nigeria Immigration Service (NIS), said the NIS would fully digitize its e-visa platform and reduce visa classifications from 79 to 44 to enhance accessibility, transparency, and efficiency in the new visa policy.

She said, “At the core of this policy is the new e-visa platform—a fully digitized, centralized system that revolutionizes how foreign nationals interact with our country’s entry procedures. As part of this transformation, the Nigerian Visa Policy 2024 underwent a comprehensive review, resulting in a significant reduction in visa classifications from 79 to 44.

“These categories have been logically grouped to simplify procedures, reduce complexities, and greatly improve the user experience. Importantly, we have maintained the original purpose and intent of each visa class throughout this reform.”

 


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E-Business

NITDA Partners JICA to Launch Nigeria-Japan Startup Hub

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Mr. Takao Shimokawa, director general, Economic Development Department at the Japan International Cooperation Agency (JICA) has visited the National Information Technology Development Agency (NITDA) to discuss the forthcoming launch of the Nigeria-Japan Startup Hub Project.

NITDA Partners JICA to Launch Nigeria-Japan Startup Hub

Mr. Dejo Olawunmi, director of IT Infrastructure Solutions at NITDA and Mr. Takao Shimokawa, director general, Economic Development Department at the Japan International Cooperation Agency (JICA)

This is in a strategic move to strengthen Nigeria’s startup ecosystem.

During his visit, Mr. Shimokawa was received by Mr. Dejo Olawunmi, director of IT Infrastructure Solutions at NITDA.

Their discussions focused on advancing technological innovation, fostering entrepreneurship, and enhancing venture capital development to support early-stage startups in Nigeria.

The Nigeria-Japan Startup Hub Project is designed to provide Nigerian startups with access to Japanese expertise, mentorship, and investment opportunities.

The initiative aims to create a collaborative environment where local entrepreneurs can scale their businesses by leveraging Japan’s advanced technology and business models.

By bridging Nigerian startups with Japanese investors and industry leaders, the project seeks to drive sustainable growth and innovation in Nigeria’s tech industry.

This partnership underscores the increasing economic and technological cooperation between the two nations, positioning Nigeria as a key player in the global startup landscape.

With the hub set to launch soon, stakeholders anticipate that it will provide critical resources for startups, enabling them to compete in the global market and contribute to Nigeria’s digital economy.

 


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Firm Discovers Sophisticated Chrome Zero-day Exploit Used in Active Attacks

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Kaspersky has identified and helped patch a sophisticated zero-day vulnerability in Google Chrome (CVE-2025-2783) that allowed attackers to bypass the browser’s sandbox protection system.

The exploit, discovered by Kaspersky’s Global Research and Analysis Team (GReAT), required no user interaction beyond clicking a malicious link and demonstrated exceptional technical complexity. Kaspersky researchers have been acknowledged by Google for discovering and reporting this vulnerability.

In mid-March 2025, Kaspersky detected a wave of infections triggered when users clicked personalised phishing links delivered via email. After clicking, no additional action was needed to compromise their systems.

Once Kaspersky’s analysis confirmed that the exploit leveraged a previously unknown vulnerability in the latest version of Google Chrome, Kaspersky swiftly alerted Google’s security team. A security patch for the vulnerability was released on March 25, 2025.

Kaspersky researchers dubbed the campaign “Operation ForumTroll”, as attackers sent personalised phishing emails inviting recipients to the “Primakov Readings” forum. These lures targeted media outlets, educational institutions, and government organisations in Russia.

The malicious links were extremely short-lived to evade detection, and in most cases ultimately redirected to the legitimate website for “Primakov Readings” once the exploit was taken down.

The zero-day vulnerability in Chrome was only part of a chain that included at least two exploits: a still-unobtained remote code execution (RCE) exploit that apparently launched the attack, while the sandbox escape discovered by Kaspersky constituted the second stage. Analysis of the malware’s functionality suggests the operation was designed primarily for espionage. All evidence points to an Advanced Persistent Threat (APT) group.

“This vulnerability stands out among the dozens of zero-days we’ve discovered over the years,” said Boris Larin, principal security researcher at Kaspersky GReAT. “The exploit bypassed Chrome’s sandbox protection without performing any obviously malicious operations – it’s as if the security boundary simply didn’t exist.

The technical sophistication displayed here indicates development by highly skilled actors with substantial resources. We strongly advise all users to update their Google Chrome and any Chromium-based browser to the latest version to protect against this vulnerability.”

Google has credited Kaspersky for uncovering and reporting the issue, reflecting the company’s ongoing commitment to collaboration with the global cybersecurity community and ensuring user safety.

Kaspersky continues to investigate Operation ForumTroll. Further details, including a technical analysis of the exploits and malicious payload, will be released in a forthcoming report once Google Chrome user security is assured.

Meanwhile, all Kaspersky products detect and protect against this exploit chain and associated malware, ensuring users are shielded from the threat.

This discovery follows Kaspersky GReAT’s previous identification of another Chrome zero-day (CVE-2024-4947), which was exploited last year by the Lazarus APT group in a cryptocurrency theft campaign.

In that case, Kaspersky researchers found a type confusion bug in Google’s V8 JavaScript engine that enabled attackers to bypass security features through a fake cryptogame website.

 


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