E-Business
McAfee Raises Cyber Crime Alarm Amid COVID-19
Cyber security solutions company McAfee has issued a warning on the rise of cyber criminal activity during the COVID-19 pandemic, saying it observed an average of 375 new threats per minute in the first quarter of this year.
In its McAfee COVID-19 Threat Report: July 2020, which examined cyber criminal activity related to COVID-19 and the evolution of cyber threats in first quarter of 2020, the firm says there has been a surge in cyber criminals exploiting the pandemic through COVID-19-themed malicious apps, phishing campaigns and malware.
It says what started as a trickle of phishing campaigns and occasional malicious apps quickly turned into a deluge of thousands of malicious URLs and more-than-capable threat actors “leveraging on our thirst for more information as an entry mechanism into systems across the world.
“It’s no surprise that opportunistic cyber criminals are targeting employees working from home during the COVID-19 pandemic. The need for enterprises to quickly quarantine their workforce has challenged SOCs [security operating centres] and CTOs [chief technology officers] to adapt a secure work-from-home model, the scope of which the security industry has never experienced.”
The report says new PowerShell malware increased 688% over the course of the quarter, while total malware grew 1 902% over the past four quarters.
Disclosed incidents targeting the public sector, individuals, education and manufacturing increased, notes McAfee. These disclosed incidents targeting the public sector increased 73%, individuals increased 59%, education increased 33%, and manufacturing increased 44%.
New mobile malware increased by 71%, with the company adding that total malware grew nearly 12% over the past four quarters.
“Thus far, the dominant themes of the 2020 threat landscape have been cyber criminals’ quick adaptation to exploit the pandemic and the considerable impact cyber attacks have had,” says Raj Samani, McAfee fellow and chief scientist.
McAfee researchers found it is typical of COVID-19 campaigns to use pandemic-related subjects, including testing, treatments, cures and remote work topics to lure targets into clicking on a malicious link, download a file, or view a PDF.
To track these campaigns, the company has published a COVID-19 Threat Dashboard, which includes top threats leveraging the pandemic, most targeted verticals and countries, and most utilised threat types and volume over time.
“Cyber security cannot be solved by cookie-cutter approaches; each organisation is unique and has specific intelligence requirements and objectives,” says Patrick Flynn, head of McAfee Advanced Programs Group.
“The McAfee COVID-19 Threat Dashboard utilises data to create true analysed intelligence, which allows users to understand the total threat environment, informing them of potential threats before they are weaponised.”
Over the course of the first quarter of 2020, McAfee says it observed malicious actors focus on sectors where availability and integrity are fundamental; for example, manufacturing, law and construction firms.
“No longer can we call these attacks just ransomware incidents. When actors have access to the network and steal the data prior to encrypting it, threatening to leak it if you don’t pay, that is a data breach,” says Christiaan Beek, senior principal engineer and lead scientist at McAfee.
“Using either weakly protected Remote Desktop Protocol or stolen credentials from the underground, we have observed malicious actors moving at light-speed to learn the network of their victims and effectively steal and then encrypt their data.”
E-Business
NDPC to Impose Heavy Fines on Defaulting Data Processors, Controllers this Year
Nigeria Data Protection Commission (NDPC) has announced plans to significantly ramp up enforcement and impose substantial fines on data controllers and processors that violate the Nigeria Data Protection Act (NDPA) of 2023.
This was disclosed by Dr Vincent Olatunji, national commissioner/CEO of the Commission, in a video message outlining the Commission’s 2025 agenda, shared on the agency’s social media platforms.
A statement issued by the Communications Division of the Commission on Friday quoted Dr Olatunji as saying that, “For data controllers and processors, there is going to be massive enforcement. We have never really issued any fine, but going forward, you’ll hear us giving heavy penalties.”
He assured Nigerians that their data rights, as guaranteed by the NDPA, will be fully protected, and defaulting data controllers and processors will face strict consequences.
The Commissioner highlighted the NDPC’s extensive engagements with stakeholders across public and private sectors to promote awareness and compliance with the Commission’s mandate.
The efforts, he said, have resulted in the signing of Memorandums of Understanding (MOUs) with key organisations, including the National Insurance Commission (NAICOM), National Lottery Regulatory Commission (NLRC), the Data Privacy Office of Canada, and the Dubai International Financial Centre Authority (DIFC), among others.
Dr Olatunji also shared that the NDPC will advance to the second phase of its Strategic Roadmap and Action Plan (NDP-SRAP 2023-2027) in 2025.
This phase is expected to create job opportunities within Nigeria’s data protection and privacy ecosystem, particularly for young people.
The Commission has been actively training Nigerians in data protection and privacy, creating a pool of globally competitive experts within the data protection sector in 2025.
“There are a lot of data controllers and processors that are looking for people to work with them. Now those that we have trained in 2024, those we have certified, we are going to do more this year to actually launch them to the job market where they can really work with data controllers and processors,” he said.
Additionally, the NDPC will continue nationwide efforts to promote data protection awareness.
The Commission aims to educate citizens about their rights and the importance of data privacy while reminding data controllers and processors of their obligations under the NDP Act.
Dr Olatunji emphasised that these initiatives are part of the broader goal to embed a culture of data protection and privacy in Nigeria.
As part of its international engagement efforts, Nigeria will host the “Network of African Data Protection Authorities Conference” in May 2025, with over 40 nations with existing data protection laws expected to attend.
According to Dr Olatunji, this global event will position Nigeria as a leader in the data protection ecosystem, and bring significant economic benefits to the country.
The NDPC reiterated its commitment to ensuring data protection and privacy become integral to Nigeria’s digital landscape, building trust and fostering economic growth, the statement added.
E-Business
NIPOST Reports 275 Percent Revenue Growth in 2024
Nigeria Postal Service (NIPOST), achieved a 275 percent increase in revenue for the year 2024, according to Tola Odeyemi, postmaster general.
At the beginning of the year, NIPOST set an ambitious target of generating N10 billion in revenue.
Although specific figures for the end of the year were not disclosed, the reported increase suggests a significant recovery for the postal service, which had previously faced consistent decline.
Odeyemi, who made the disclosure while listing NIPOST’s achievements for the year recently, attributed the growth to a series of reforms aimed at enhancing service quality and eliminating revenue leakages
The NIPOST boss detailed the steps taken to boost revenue, noting the implementation of Point of Sale (PoS) terminals in high-transaction areas, which has streamlined payment processes and improved customer experience.
She said, “One of the major achievements for us in 2024 has been a 275% increase in revenue from 2023. We achieved this by plugging a lot of the revenue leakages that we have by deploying PoS terminals for payment in our high transaction areas, as well as ensuring that our quality of service goes up.”
Looking ahead, Odeyemi outlined NIPOST’s plans to sustain this growth trajectory.
She said the organisation has embarked on renovations and upgrades of key locations in Abuja, Lagos, and Kaduna, alongside enhancements to the Postal Institute, which is central to the agency’s change management initiatives.
Furthermore, she stated that NIPOST is gearing up for several major developments in 2025, including the rollout of a national addressing system and digital postcode services, specialised logistics for agriculture and healthcare, and a relaunch of its financial services.
“There will be infrastructure upgrades, which will take place across the Federation and there will be an increase in access to government services through your local NIPOST location,” she said.
E-Business
Firm Unveils Drop App to Revolutionize E-hailing in Nigeria
Sure Switch Tech, a technology company, has unveiled the Drop App, a ground-breaking e-hailing platform designed to empower drivers and passengers in Nigeria.
The Co- Founder who doubled as the Chief Executive Officer of Sure Switch Tech, Ugbah Chukwuma, during the unveiling in Abuja, disclosed that Drop App is an innovative online motor park that connects drivers and passengers directly, allowing them to negotiate terms and travel with ease and confidence.
Chukwuma noted: “What sets the Drop App apart is its driver-first approach, which ensures that drivers keep more of their earnings, saying Drop App is built for convenience, affordability, and empowerment. The app provides a low-cost, high-reward platform for drivers and a reliable and flexible service for passengers.”
According to him, “we understand the challenges that many Nigerian drivers face, and we designed the Drop App to provide real solutions. We are committed to driving innovation, empowering communities, and creating platforms that prioritise fairness and opportunity for all.
He further explained that Sure Switch Tech is a leading technology company dedicated to creating innovative solutions that empower communities and drive growth, stating.
“Today, we launched the Drop app, a platform that redefines e-hailing and transportation in Nigeria. At Trust Tech Limited, we are committed to creating technologies that address existing challenges and empower the communities we serve.
“The Drop app is more than just an e-hailing app; it’s an online motor park, a digital hub where drivers and passengers can connect directly, negotiate terms, and travel with ease and confidence.
“What sets Drop apart is its driver-first approach. We don’t refer to drivers as drivers; we call them our partners. We’ve chosen a different path, where no commissions are deducted from drivers’ earnings. Drivers get 100% of their earnings and pay only a flat rate of N500 for 24-hour service on our platform.
“Another key feature of Drop is the freedom for drivers and passengers to negotiate ride prices directly. We ensure transparency, fairness, and mutual agreement. The Drop app is built for convenience, affordability, and empowerment.
“It enables drivers to scale their business and support their families. For passengers, it’s a low-cost, high-reward platform that guarantees value for money. It’s a reliable, flexible service that accommodates their preferences and budget.”
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