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E-Business

FG Mulls Creation of ‘Nigerium’ Blockchain to Enhance Data Security

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National Information Technology Development Agency (NITDA) will develop the “Nigerium” indigenous blockchain to safeguard national security, according to Kashifu Abdullahi, director general, NITDA.

FG Mulls Creation of ‘Nigerium’ Blockchain to Enhance Data Security

Abdullahi who stated this when he welcomed a delegation from the University of Hertfordshire Law School, in Abuja, said that the ultimate goal is to unite the public and private sectors to develop a domestic blockchain.

This announcement arrives shortly after NITDA’s recent disclosure of its intention to set up research centers dedicated to blockchain and other cutting-edge technologies across Nigeria’s six geopolitical zones.

Blockchain technology is an advanced database mechanism that allows transparent information sharing within a business network.

Following the Nigerian government’s approval of a national blockchain policy in 2023, which established a legal framework for blockchain adoption within the country, there is now a proposal advocating for the development of a domestically engineered blockchain platform.

It is noteworthy that Nigeria introduced the eNaira, its digital currency, in 2021, utilizing a private blockchain based on Hyperledger Fabric. Despite concerted efforts and partnerships to promote the eNaira, the digital currency has faced challenges in gaining widespread acceptance.

The delegation from the University of Hertfordshire Law School, led by Chanu Kuppuswamy, underscored the significance of Nigeria developing its own blockchain technology. They argued that an indigenous blockchain would ensure that Nigerian data and personal information remain under local control, rather than being managed by international co-developers who may not prioritize Nigeria’s interests.

According to Kuppuswamy, reliance on established blockchain platforms such as Ethereum places Nigeria at the discretion of international developers who do not operate under Nigerian law.

The delegation thus suggests the creation of a Nigerian-specific blockchain, enabling the country to retain autonomy over its digital infrastructure. This approach would necessitate proactive measures to prevent potential issues, ensuring the security and sovereignty of Nigerian data.

The delegation also proposed the establishment of a “data embassy” for Nigeria—a server situated in a foreign country dedicated to backing up and safeguarding Nigerian data. This measure is deemed essential for maintaining digital continuity, as data is susceptible to various threats, including cyber-attacks, natural disasters, and other risks. The data embassy would operate under Nigerian legislation, with the host nation collaborating to guarantee the security and governance of the data.

Furthermore, the delegation underscored the importance of collaborative efforts among government departments to integrate blockchain services and enable interagency dependency.

Despite Nigeria’s strides in blockchain technology, the government has enacted rigorous regulations on the cryptocurrency sector, which have impacted service providers.

he government’s ongoing legal issues with Binance over currency concerns and KuCoin’s recent implementation of a 7.5% VAT on cryptocurrency transactions on its platform are indicative of the challenging regulatory climate.

Concurrently, Ghana is advancing towards becoming the first government in Africa to fully embrace blockchain technology, with plans to digitize government services and secure government data against unauthorized alterations.

 

 

 


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E-Business

Gmail to Replace SMS Codes with QR Authentication

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Gmail is set to replace SMS-based authentication codes with QR code systems to verify user identity as part of Google’s effort to transition to a more secure model of two-factor authentication.

Gmail to Replace SMS Codes with QR Authentication

According to Forbes, a Gmail insider revealed ongoing plans to shift from text message verification to an alternative approach aimed at enhancing security and reducing risks such as phishing and fraud.

Gmail has long utilised SMS-based authentication for abuse prevention and security verification, helping confirm returning users and preventing fraudulent activities like mass account creation for spam and malware distribution.

However, concerns have arisen over the vulnerability of this method, with cybercriminals increasingly exploiting text-based security codes for unauthorised access.

The shift away from SMS verification is driven by its susceptibility to phishing and reliance on mobile carrier security protocols.

Additionally, the emergence of traffic pumping scams, where cybercriminals generate revenue by triggering mass authentication messages, has highlighted the need for stronger authentication methods.

 

 


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Kaspersky Reports Nearly 900m Phishing Attempts in 2024 as Cyber threats Increase

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Kaspersky’s security solutions blocked over 893 million phishing attempts in 2024 – a 26% increase from 2023, when the total stood at nearly 710 million.

The surge in attempts (shown in the graph below) between May-July is traditionally tied to the international holiday season when fraudsters frequently try to lure travelers with scams involving fake airline and hotel bookings, deceptive tour packages and too-good-to-be-true offers.

Experts observed a range of phishing and scam schemes aimed at stealing data, money and installing malicious software. In 2024, cybercriminals often mimicked the websites of well-known brands like Booking.com, Airbnb, TikTok, Telegram, and others. One ongoing campaign, for example, has been targeting TikTok Shop users.

Cybercriminals created fake login pages designed to steal sellers’ credentials. Additionally, scammers capitalised on trending news, orchestrating fraud schemes involving the hype topics, for example cryptocurrency game Hamster Kombat and TON wallets.

Fraudulent schemes also tended to capitalise on fake celebrity images in 2024, falsely promoting giveaways of valuable prizes to fans that were never delivered. The trend persists in 2025.

“While the core mechanics of phishing and scams remain unchanged, attackers constantly refine their disguises. They capitalise on trending news, hype-driven topics, and even combine branding from multiple companies on a single phishing page to enhance efficiencies of their campaigns.

“AI-driven tools help them to create highly convincing fake websites, making fraud harder to detect. These evolving tactics pose a growing risk – not just to financial security but also to personal identity protection. As a result, vigilance and the use of robust cybersecurity solutions have never been more crucial,” says Olga Svistunova, a security expert at Kaspersky.

Spam and malicious email campaigns

According to Kaspersky data, both individuals and corporate users encountered malicious email attachments more than 125 million times in 2024.

Cybercriminals used various tactics in email campaigns targeting businesses, as observed by experts. These included sending emails with password-protected archives containing malicious content and SVG images disguised as harmless graphics, and many other schemes. Attackers lured victims into clicking on malicious content through fake court appeals, fake deals, counterfeit official notifications and more.

Nearly every second email in a corporate mailbox – 47% of global traffic, marking a 1.27 percentage point increase from the previous year – was spam. South African users encountered 20% more malicious emails in comparison to the previous year.

While spam includes different email threats, including those mentioned above, it is not always malicious and consists mostly of unsolicited advertisements.

Experts note that corporate spam trends of the last year prominently feature advertisements for AI solutions, related webinars, online promotion services, follower-boosting schemes and more.

 


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Group Applauds Nigeria’s AI Push, Urges Seizure of $15Bn Digital Economy Opportunity

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Nigeria’s growing investment in Artificial Intelligence (AI) and digital transformation is positioning the country as one of Africa’s most ambitious tech-driven economies, with AI projected to contribute $15 billion to Nigeria’s economy by 2030.

As global technology companies deepen their focus on Africa, Young Professionals for Tinubu (YP4T) has acknowledged the deliberate policy moves by President Bola Ahmed Tinubu’s administration to ensure AI becomes a real driver of economic growth, job creation, and youth empowerment.

Following the President’s high-level discussions with global technology leaders, including his recent meeting with Google CEO Sundar Pichai, there is increasing recognition that Nigeria is taking active steps to secure its place in the global AI economy. But beyond diplomatic engagements, the administration has backed its vision with tangible programs that are already making an impact.

The 3 Million Technical Talent (3MTT) initiative has already begun producing a pipeline of AI-trained professionals, while the National AI Strategy Framework has laid the groundwork for AI integration across finance, agriculture, healthcare, and education.

The administration’s efforts to attract investment into Nigeria’s AI and technology ecosystem have also led to direct support for startups and digital enterprises, ensuring young Nigerians have access to the resources and capital necessary to innovate and compete internationally.

Global partnerships with companies such as Microsoft, Meta, and Nvidia have further reinforced Nigeria’s commitment to AI as a pillar for economic transformation.

“AI is no longer a theoretical concept—it is a defining force in global economies, and Nigeria is now actively securing its place in that future,” said Victor Benjamin, West/South South Director of YP4T.

“For years, young Nigerians have sought opportunities in technology and digital innovation. What we are seeing now is a deliberate effort by the administration to turn that aspiration into reality through strategic policies, funding, and industry collaboration.

“This is a critical time for Nigerian professionals and businesses to position themselves in the AI-driven economy.”

While many African economies continue to grapple with integrating AI and digital transformation into their long-term growth plans, Nigeria’s current trajectory signals a shift toward becoming a leader in AI adoption and development.

The impact of AI is already being felt in precision agriculture, AI-driven financial inclusion, digital healthcare, and education technology, demonstrating how these investments are directly improving productivity, economic diversification, and access to essential services.

However, experts warn that Nigeria must sustain these efforts to fully unlock the potential of AI-driven growth. With a youth population expected to exceed 100 million by 2050, ensuring that young professionals have the skills, tools, and infrastructure to build AI-powered solutions is key to job creation and economic stability.

“As a network of young professionals actively engaged in shaping Nigeria’s future, we see these investments as fundamental to building a globally competitive workforce,” continued Benjamin.

“This is not just about innovation; this is about securing economic opportunities for millions of young Nigerians. AI and digital transformation must be central to Nigeria’s long-term growth strategy, and every young Nigerian should be paying attention to these opportunities.”

With AI projected to add billions to Nigeria’s GDP in the coming years, industry stakeholders, government institutions, and the private sector must work together to ensure these initiatives translate into real economic gains.

As Nigeria continues to attract international AI investment, YP4T remains committed to mobilizing young Nigerians to engage, innovate, and lead in this digital revolution.


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