E-Business
Nigeria Loses N127Bn to Cyber Crime – Saraki

Dr Bukola Saraki, President of the Senate, has said that Nigeria has lost about N127 billion to cybercrime.
He disclosed this at Nigeria’s first Legislative Stakeholders Conference on ICT and Cyber security on Monday in Abuja.
Saraki, who was represented by Sen. Philip Aduda Saraki, Senate Minority Whip did not, however, specify the period within which the nation lost such an amount to cyber crime.
He said the loss was indicative of the hole created in the economy by cyber crime amounting to 0.08 per cent of the Gross Domestic product (GDP.
“It is indeed ironic that while internet penetration in Nigeria is tentative at best, hovering at just over the 90 million people mark, a percentage of 47.7 per cent, internet-facilitated crime seems to be growing.
“Our cyber borders are very porous, indeed,” Saraki said.
He said efforts to revive the economy must necessarily include counter-measures to minimise the losses and shore up the country’s cyber security architecture to better repel attacks.
Saraki further said that cyber attacks had in 2016 reached unprecedented level, globally with no sign of a downward trend.
“In recent times, we have seen the virulent use to which criminals and other shadowy agents have put the cyber space.
“The cyber ecosystem has been weaponised and manipulated to devastating effect to undermine democratic processes, influence voting in elections and whip up tension and divisions between societal groups.
“Over 200,000 cyber attacks were recorded in one single day earlier this year all over the world.
‘’Major international financial institutions have had their systems crippled for up to 48 hours after being targeted by criminals using Distributed Denial of Service (DDoS), among other methods.”
He said such attacks threatened economic activities, adding that personal data of millions of people were compromised by cyber criminals, who demanded the payment of ransom before hijacked data could be released.
“Kidnapping, already a scourge in the Nigerian physical space, is also becoming a problem in the virtual realm as ‘cyber-kidnapping’ of encrypted data poses a clear and present danger to our economic viability.
The Senate President described cybercrime as an ever-mutating monster, constantly growing new tentacles and taking on new formations.
“Not so long ago, one web-based Ponzi scheme succeeded in entrapping thousands of Nigerians with promises of quick gains.
“Investors were left counting the costs when the bubble burst, while those responsible moved on to new pastures. There was no accountability anywhere.”
He said that it was in light of all these challenges that the Senate sounded the alarm with a motion in May and resolved to, amongst other things, convene a national conference.
“It is essential that we come up with effective cyber-security management strategies based on existing legislative frameworks, while building on the work already being done by bodies like the Cybercrime Advisory Council.
He noted that “The ‘Stop. Think. Connect’ campaign initiative of the United States Mission was aimed at reducing cybercrime in Nigeria.
According to him, the effort also points to the need to share ideas and collaborate with international partners to reduce the impact of the borderless crimes of cyber-space.
Sen. AbdulFatai Buhari, Chairman, Senate Committee on ICT and Cybercrime, said the advancement in Information and Communication Technology had accelerated the growth and penetration of mobile telephony and its associated multimedia services.
“It has led to increasing access to the internet and broadband services providing opportunities for finding detailed answers to millions of questions every day.
Buhari said it was estimated that cybercrime would cost businesses in the world over $2 trillion by 2019.
In his address, Adebayo Shittu, Minister of Communication, said globally, ICT had become a veritable tool for advancing growth and economic diversification.
He said that a World Bank study carried out in 2014 showed that every 10 per cent in ICT investment generated a corresponding 1.38 per cent increase in GDP.”
Represented by Abdulaziz Abdullahi, Permanent Secretary in the Ministry, the minister said government had put in place new ICT strategic road map to improve the communication sector.
E-Business
NITDA Alerts Nigerian Website Owners of Critical Security Flaw in Jupiter X Core WordpPress Plugin

Nigerian website owners have been warned to be weary of security vulnerabilities in the Jupiter X Core plugin for WordPress.
The warning was handed over by the National Information Technology Development Agency (NITDA), via its official X account.
According to the agency, the vulnerability, identified as CVE-2025-0366, poses a significant cybersecurity risk, potentially allowing attackers to take control of affected websites without authentication.
A security advisory from the Computer Emergency Readiness and Response Team Nigeria (CERNT.NG) noted that the flaw is an “unauthenticated privilege escalation vulnerability,” meaning attackers can gain administrative access or execute arbitrary code on websites using this plugin.
“A critical security flaw has been discovered in the Jupiter X Core plugin for WordPress, affecting websites using this popular theme framework,” the statement said.
E-Business
Kaspersky, Smart Africa Forge Strategic Partnership to Bolster Cybersecurity in Africa

In a move to enhance digital security on the African continent, Kaspersky has signed a three-year Memorandum of Understanding (MoU) with Smart Africa.
This landmark agreement is set to drive collaborative efforts aimed at expanding cybersecurity capabilities throughout Africa.
The partnership focuses on building essential cybersecurity skills via training programs, including those offered by the Kaspersky Academy — an international educational venture established in 2010 with a mission to drive the best cybersecurity education to build a safer digital world.
Another major focus of the partnership will be addressing gender disparities by supporting initiatives that empower girls and women in the fields of cybersecurity, STEM, and ICT, which is a continuation of Kaspersky’s efforts aimed at empowering female professionals in IT and attracting more women in the field.
In addition to human capacity development, the collaboration aims to standardise cybersecurity policies by pooling both organisations to create harmonised regional and national frameworks. This effort involves working closely with cybersecurity authorities, law enforcement agencies, computer emergency response teams, industry leaders, and other key stakeholders to ensure a unified approach to digital security.
Moreover, the initiative is geared towards strengthening technological defenses. This includes establishing critical cyber infrastructures such as security operation centers and computer emergency response teams, as well as offering expert technical consulting to prevent and mitigate the effects of cybercrime.
Lacina Koné, CEO of Smart Africa, commented: “This MoU marks a significant milestone in our quest to secure Africa’s digital future.
“By joining forces with Kaspersky, we are not only building essential cybersecurity skills and bridging the gender gap but also setting the stage for robust regional cooperation and state-of-the-art cyber infrastructure.”
Eugene Kaspersky, founder and CEO of Kaspersky, noted: “Our strategic partnership with Smart Africa is designed to help create a more secure cyberspace across the continent and beyond.
“We see this initiative as a commitment to empowering both individual users and organisations to ensure that everyone can navigate the digital world safely and with confidence.”
This partnership reflects Kaspersky’s commitment to a collaborative approach in creating a more safe and secure digital space by building strategic partnerships helping to enhance efforts aimed at boosting the global cyber resilience.
It also builds on the momentum of the recently established African Network of Cybersecurity Authorities (ANCA), a collaborative initiative designed by Smart Africa to bring together cybersecurity authorities from African countries to address the growing challenges posed by cyber threats and crimes.
Together with Smart Africa’s unwavering commitment to building a secure, inclusive, and digitally empowered continent, the joint cooperation is poised to address the evolving challenges of the cyber world and position Africa as a model of digital security innovation.
E-Business
Darey.io, Xterns Partner to Provide Digital Skills with New Tech Hub in Lagos

Darey.io in collaboration with Xterns plan to provide Nigerians with digital skills as they plan a new tech hub in Yaba, Lagos. This new hub scheduled to officially open on March 15, 2025, is designed to drive digital transformation, foster collaboration, and provide startups, businesses, and individuals with AI-driven solutions and workforce development programmes.
Dare Olufunmilayo, Founder/Chief Executive Officer of Darey.io said the hub will provide an alternative narrative—one of opportunity and empowerment, and caters to individuals from various fields, including management, healthcare, and other industries, who aspire to enter the world of IT, software development, and other tech-driven careers.
“Regardless of your background, you can join our network, and within a short period of time, you’re able to acquire the skills, you’re able to acquire the experience, and you’re able to present yourself in a way that convinces an employer that you can actually get hired,” Olufunmilayo said.
Whether one has undergone training elsewhere or is new to the tech space, the Excellence platform offers a structured pathway to gaining the experience needed for a successful career in technology.
“With over 1,000 tracked job placements locally and internationally in just the last year and a half, Darey.io is proving that tech careers are within reach for anyone willing to put in the effort. By leveraging technology, breaking traditional barriers, and emphasizing hands-on experience, Darey.io is redefining what it means to enter and excel in the tech industry,” Olufunmilayo said.
Olufunmilayo noted that a key motivation for many aspiring tech professionals is the ability to work remotely, and stressed that Darey.io not only enables skill acquisition but also facilitates global employment opportunities, explaining that through its innovative approach, individuals can work from Nigeria while securing jobs with international companies, thus contributing to the growing digital economy.
Identifying one of the main challenges in transitioning to tech careers as the demand from companies for experienced professionals in which many employers prefer hiring candidates who can contribute immediately, making it difficult for newcomers to secure roles, Darey.io, he said, addresses this by providing a structured pathway where individuals gain both skills and experience before entering the job market.
To bridge the gap between training and real-world application, Olufunmilayo said that Darey.io has introduced the Xterns platform, which provides practical experience alongside training, and highlighted how this scalable platform allows individuals to fund their own learning journeys, ensuring they gain both theoretical knowledge and hands-on experience.
According to him, “The Xterns platform meticulously tracks acquired skills at a micro level, offering detailed insights into individual competencies and completed projects. It is open to anyone who has completed a training programme, regardless of where they received it, fostering collaboration and exposure to industry best practices.
He said that one of the standout features of the Xterns platform is its accessibility, asserting that anyone who has undergone relevant training can join, provided they pass a basic assessment that verifies their foundational knowledge and added that new students are onboarded regularly.
“Participants receive quality learning from experienced instructors, ensuring they acquire the skills necessary to thrive in the tech industry. This commitment to accessibility and excellence makes Darey.io a key player in expanding digital education opportunities in Nigeria and beyond,” he said.
- News2 days ago
FG Launches Global Certification Programme @ DBI
- E-Business2 days ago
Nigeria, UK Partner on Building Resilient National Cybersecurity Architecture
- News2 days ago
Banking Data Theft Attacks on Smartphones Triple in 2024 – Report
- Telecom2 days ago
ATCON Commends FG over Plans to Build 7,000 Telecom Towers
- Broadcasting2 days ago
Reps Order Multichoice to Halt Planned Subscription Hike
- Telecom2 days ago
MTN Showcases 5G’s Transformative Power at Go M.A.D Event in Calabar
- Telecom1 day ago
Customers to Receive 5GB Free Data on New Glo e-SIM
- Broadcasting2 days ago
92% of Developers Believe AI Agents Are Key to Career Growth