E-Business
NCS Urges FG to Tap into $45Bn Cybersecurity Market
Nigeria Computer Society (NCS), umbrella body for all information technology practitioners in Nigeria, in its advocacy capacity, has called on the government at all levels in Nigeria, to tap into the opportunities in the multi-billion dollar cybersecurity market in Africa.
The association made this plea in a communiqué issued at the end of its second Stakeholders’ Forum on Cybersecurity held at the National Open University of Nigeria (NOUN) in Abuja, recently.
The society also called on the federal government to harness local talents to tame the tide of attacks which have been on increase in the recent times.
Speaking on this, Mr Adesina Sodiya, president of NCS, said the Africa (& Middle East) cybersecurity market will be valued at about $45 billion within the next two years, noting that this presents Nigeria with huge opportunities to create jobs and leverage experts’ skills to become cyber-battle ready.
“The Nigerian society is advised to key into the sector and generate jobs. There is also currently a shortfall of 2.3 billion jobs in cybersecurity. So, Nigeria needs to produce cybersecurity experts.
“Since it was established, NCS has been strategic in its advice to members, governments, other competent authorities and the public, on national and international policy matters affecting the computing, information and systems technology industry.
“Consequent upon the foregoing, the Nigeria Computer Society has observed that cyberattacks in Nigeria today is on the increase,” the President said.
Mr Sodiya explained that the observation was based on current local and international reports.
“Individuals, governments, and corporate organizations are losing a huge sum of money and properties due to cyberattacks. Threat techniques are continually changing, and attacks are getting more sophisticated by the day, it is believed that this trend will continue if nothing is done,” he said.
He expressed NCS’s commitment to IT development in Nigeria which informed the forum geared towards addressing the factors mitigating efficient use of IT for leapfrogging development.
Meanwhile, the forum resolved among other things; that due to the impact of COVID-19 on health sector cybersecurity space, the government should include the health sector infrastructure in the list of critical national infrastructure and there should be a deliberate effort to come up with programs to build the capacity of young Nigerians in the field of cybersecurity hence government needs to invest in catching the young ones.
“There is a need for the government to train more of our youths on ethical hacking and how to use historical data through the help of artificial intelligence to fight cybercrime. These pieces of training should be either academic or vocational.
“The government should ensure that all organisations have a security policy in place. Chief Executive Officers should be trained to identify the sensitive data used in their organisations,” it disclosed.
It was also recommended that cybersecurity training should also be included at the Basic education level; “the pieces of training should be made interesting for example the training can be in form of games for kids to help develop their interest.
“There is a need to develop our own internal resources and technology to store our sensitive data as a nation. NITDA should enforce the use of .gov emails in all government agencies for security reasons.
“There should be enhanced enforcement of the Nigerian Data Protection Regulation (NDPR) laws. Chief Executives who violate the laws should be sanctioned.
“The Computer Registration Council of Nigeria should look at ways to develop professional certifications for Nigerians locally. This will save the cost of Professionals getting it internationally.
“The government and private sector should take cybersecurity awareness to the grassroots to enlighten the underserved and rural people. This can be done via radio jingles, cartoons, traditional dance, billboards, and media houses,” the group said.
The NCS Forum also suggested that government should introduce internet monitoring, to blacklist fraudulent sites and fake news sites, among other recommendations.
The NCS was established in 1978 and has over 10,000 professional members across the country and over five hundred thousand student members in the higher institutions, universities, polytechnics, colleges of education, and other accredited computer training centres in Nigeria.
E-Business
NDPC to Begin Prosecution of Data Privacy Offenders from 2025
Nigeria Data Protection Commission (NDPC) will start prosecuting data privacy offenders from the beginning of 2025, according to Babatunde Bamigboye, head of the Legal Enforcement and Regulation Department of the commission.
This move is part of its efforts to enforce regulations and promote responsible data handling in Nigeria.
Bamigboye, disclosed this during a one-day cybersecurity awareness campaign with the theme “Utilising AI-Powered Services for Proactive Cybersecurity” in Abuja.
The event was organised by SOPHOS UK in collaboration with SPOKES Network and Net-Trix Solutions to foster networking with industry experts on how AI is shaping the future of cybersecurity.
Bamigboye explained that, due to the significant implications of data privacy breaches in Nigeria, the commission has embarked on awareness programmes to educate individuals on their data protection rights and inform data processors and controllers of their obligations.
To this end, he announced that beginning next year, the commission would prosecute any data controllers or processors found in breach of the law.
“At this moment, we have investigated quite a number of cases, and in terms of prosecution—as you know, as a lawyer, this means going to court—but we haven’t taken any matters to court yet.
“This is the formative stage; we understand the implications for the country as a whole. And usually, when you talk about prosecution, it also involves some criminal activities. So, at this moment, our focus has been on creating awareness.
“But from next year, we will step up enforcement in this area. What we have done so far is to take remedial actions against certain data controllers and processors who defaulted under the Act,” he noted.
He assured investors that Nigeria’s cyberspace is secure for digital transactions.
“Nigerian cyberspace is safe; otherwise, we wouldn’t be experiencing the smooth flow of digital transactions in Nigeria. It is safe but not without threats, and we are doing our best as a country to combat these threats.”
Christopher Odutola, a sales engineer at SOPHOS UK, noted in his presentation that 100% cybersecurity cannot be guaranteed, hence the need for proactive measures.
“A lot of people will come to you and say, ‘We can give you 99.9% or 100% cybersecurity.’ It’s not true.
“Nobody can provide 100% security anywhere in the world. What they can do, as I mentioned earlier, is reduce the risk for you. However, determining the extent of risk reduction is difficult.
“It’s impossible to eliminate 100% of risks anywhere in the world. What we provide is what we call a cybersecurity breach protection warranty. This warranty covers incidents such as data breaches or ransomware attacks. For instance, if you lose your files while we manage your SOC as a service, we will reimburse up to one million dollars in response costs.”
Odutola further stressed the importance of organisations reducing cyber threat risks to secure cyberspace.
“There are risks to businesses, risks from downtime, attackers, scammers, and the rest, trying to infiltrate networks.
“The risk is always high. As cybersecurity professionals, we are doing as much as possible to reduce these risks.
“The various security controls we implement—antivirus software, firewalls, email security, cloud security, network security, and others—are aimed at reducing risks. We must focus on minimising risks. For instance, we currently see risks originating from third-party suppliers and vendors.”
According to him, “We have a process called risk assessment, which helps to evaluate vendors to ensure they do not introduce risks into our environment. This is why these security controls are crucial.
“We have them in place. It’s equally important to involve senior management in the discussion, as this is often where the gap lies. Unfortunately, cybersecurity is often perceived as a cost centre.”
Harrison Oloye, chief executive officer (CEO) of Net-Trix Solutions, said the event aimed to raise awareness about cyber threats and equip users to manage potential attacks.
“What we did, as Net-Trix Solutions Limited in conjunction with Spokes Network, is to create awareness and educate the public and private sectors on how to use Artificial Intelligence (AI) to combat cyber threats.”
Speaking further on achievements in creating awareness, he said: “As part of our Corporate Social Responsibility (CSR), we educate and train as many people as possible on the dangers of cyber threats and cyber-related crimes.”
Ms. Sifon Ufot, head of Business at SPOKES Network, emphasised the need to take proactive measures against cyber threats.
“We need to stay cyber-safe because hackers working behind the scenes are not joking—they work 24/7. For us, staying proactive is essential. With the help of AI, we can stay proactive; it provides information beforehand and even prevents some attacks from reaching us.”
E-Business
Nigeria, Others Confront Flood of Cyber-Attacks
Check Point, a cyber security company has reported that Nigeria, South Africa, Kenya, and Morocco are seeing targeted cyber-attacks on government, education, and financial institutions.
In its just released 2024 African Perspectives on Cyber security report, Check Point, said that the cyber security sector is growing by 20-25% annually, fuelled by investments in infrastructure and Artificial Intelligence-driven solutions.
The report said that South Africa has seen 3,312 attacks on government institutions every week and a 90% increase in ransomware, with cybercrime costing the country nearly 1% of GDP.
Kenya, in East Africa, sees 4,719 attacks on the government sector each week, indicating an urgent need for enhanced defenses.
According to the report, Nigeria sees 4,718 attacks every week, which is one of the highest in Africa.
In a recent incident, the report states that a banking trojan assault affected 100,000 customer accounts, resulting in a $3 million loss.
Morocco is one of Africa’s most targeted countries, with 8,733 attacks on government entities reported each week, the report said.
According to Check Point, the Moroccan government recently faced a state-sponsored cyberattack that compromised classified communications, raising significant national security concerns.
“Organisations in Africa are attacked roughly 3300 times per week, if we look at the global average it is about 1 800, it is almost double the attacks,” said Hendrik de Bruin, head of security consulting at Check Point SADC during the presentation.
Check Point noted that the continent’s GDP is predicted to exceed $4 trillion by 2027, and digital infrastructure has emerged as a key driver of economic growth. However, rapid digitisation has resulted in increased vulnerability.
De Bruin explained: “We are slowly, but surely digitalising our industries, we are digitising our governments, private sectors are digitising themselves, so we have got an expanding digital attack footprint.
“We also have cloud adoption, which is not new, but picking up pace in Africa. That is another way that these attackers are using to gain access to organisations, and we also see a large uptake on cloud specific attacks as well.”
E-Business
NITDA Alerts Businesses to Rising Ymir Ransomware Threat
National Information Technology Development Agency (NITDA) has warned organisations about Ymir ransomware, describing it as a highly sophisticated cyber threat targeting corporate networks.
In an advisory released yesterday, NITDA outlined the ransomware’s advanced tactics, including memory-based execution designed to evade detection by traditional security tools.
The malware not only encrypts critical data but also exfiltrates sensitive information before encryption, demanding substantial ransoms in cryptocurrency.
“This ransomware is highly advanced and poses a significant threat to organisations, especially those in industries like healthcare, finance, and IT services that handle sensitive data,” NITDA said.
The agency warned that victims face severe operational disruptions, financial losses, and reputational damage. “Ymir’s ability to evade antivirus programs allows attackers to dwell longer in networks, expanding their reach and deepening the damage,” the advisory added.
To counter the threat, the agency urged organisations to take proactive measures, including deploying advanced endpoint detection and response solutions, updating all systems and applications with the latest security patches, and segmenting critical systems into separate network zones.
“Implementing multi-factor authentication across critical systems is crucial to preventing unauthorized access, especially for administrative accounts,” NITDA noted.
The agency also stressed the importance of a robust backup strategy. “Organisations should regularly test their backups for integrity and ensure offline copies are securely stored to avoid total data loss in the event of an attack,” it said.
NITDA emphasised the need for organisations to prioritise cybersecurity in light of evolving threats like Ymir ransomware. It encouraged businesses to seek expert guidance to strengthen their defenses against such attacks.
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