News
Report Shows Small Businesses in Nigeria Facing 89% Increase in Remote Desktop Protocol Attacks in 2022

When a small business owner is faced with the responsibilities of production economics, financial reports and marketing all at the same time, cybersecurity can often appear complicated and, at times, unnecessary. However, this disregard for IT security is being exploited by cybercriminals.
Kaspersky researchers assessed the dynamics of attacks on small and medium-sized businesses between January and April 2022 and the same period in 2021, to identify which threats pose an increasing danger to entrepreneurs.
In 2022, the number of Trojan-PSW (Password Stealing Ware) detections in Nigeria more than doubled when compared to the same period in 2021 – 2654 detections in 2022 compared to 1076 in 2021. Trojan-PSW is a malware that steals passwords, along with other account information, which then allows attackers to gain access to the corporate network and steal sensitive information.
Another popular attack tool used on small businesses is Internet attacks, specifically, web pages with redirects to exploits, sites containing exploits and other malicious programs, botnet C&C centers, etc.
While the number of these attacks decreased in the first four months of 2022 in Nigeria (56 836 infections in 2022 compared to 99 146 infections in 2021), Internet attacks are still a concern and need to be protected against.
With the shift towards remote working, many companies have introduced the Remote Desktop Protocol (RDP), a technology that enables computers on the same corporate network to be linked together and accessed remotely, even when the employees are at home.
The number of attacks on RDP has increased significantly in Nigeria, by 89%. In the first four months of 2021, there were 161 000 RDP attacks detected and blocked by Kaspersky in the country. For the same period in 2022 the number has risen to 303 500 attacks.
Having a special security solution enables attack visualisation and provides IT administrators with a convenient tool for incident analysis. The faster they can analyse where and how a leak occurred, the better they will be able to solve any negative consequences.
The new edition of Kaspersky Endpoint Security Cloud, dubbed Kaspersky Endpoint Security Cloud Pro, contains advanced new capabilities, including automated response options and an extended set of security controls in a single solution.
The Pro version also includes built-in training for IT workers seeking to boost their cybersecurity skills and make the most out of their specialised security products.
Even small businesses with limited IT resources still need to protect all their working devices, including computers and mobile phones, from cyberthreats.
The updated Kaspersky Small Office Security is a key tool for startups, small online-stores and local businesses to keep all of their work devices protected, safely transfer any valuable business-related files and avoid falling victim to ransomware.
“With the shift to remote working and the introduction of numerous advanced technologies in the daily operations of even small companies, security measures need to evolve to support these sophisticated setups.
“Cybercriminals are already way ahead of the curve, so much so that virtually every organisation will experience a breach attempt at some point. For small companies today, it’s not a matter of whether a cybersecurity incident will happen but when.
“Having trained staff and an educated IT-specialist is no longer a luxury but a must-have part of your business development,” comments Denis Parinov, security researcher at Kaspersky.
To protect your business, Kaspersky recommends:
– Providing your staff with basic cybersecurity hygiene training (https://bit.ly/3N2SdxR) as many targeted attacks start with phishing or other social engineering techniques.
– Using a protection solution for endpoints and mail servers with anti-phishing capabilities to decrease the chance of infection through phishing emails.
– Taking key data protection measures. Always safeguard corporate data and devices, including by using password protection, encrypting work devices and ensuring data is backed up.
– Keeping work devices physically safe – do not leave them unattended in public, always lock them and use strong passwords and encryption software.
News
SERAP Asks Ojulari, NNPC CEO to Account for Missing N500Bn or Face Legal Action

Socio-Economic Rights and Accountability Project (SERAP) has called on Mr. Bayo Bashir Ojulari, group chief executive officer, Nigerian National Petroleum Company (NNPCL) Limited, to provide clarification regarding the missing N500 billion.
According to the World Bank, this sum was not remitted to the Federation Account between October and December 2024.
SERAP is urging accountability and transparency in addressing this financial discrepancy.
SERAP urged Mr Ojulari “to identify those suspected to be involved, surcharge them for the full amount involved, and hand them over to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) for investigation and prosecution.”
SERAP also urged Mr Ojulari “to invite the EFCC and ICPC to investigate the spending and whereabouts of the N500 billion, and to ensure the full recovery and remittance of the money to the Federation Account without further delay.
Last week, the World Bank disclosed that out of the N1.1 trillion revenue from crude sales and other income in 2024, the NNPC only remitted N600 billion, leaving a deficit of N500 billion unaccounted for. The International Monetary Fund (IMF) also recently called for the subsidy removal savings to be transferred to the national budget.
In the Freedom of Information request dated 17 May 2025 and signed by Kolawole Oluwadare, SERAP deputy director, the organisation said: “There is a legitimate public interest in explaining the whereabouts of the alleged missing N500 billion oil money and grave violations of the Nigerian Constitution 1999 [as amended]’
“The country’s oil wealth ought to be used solely for the benefit of the Nigerian people, and for the sake of the present and future generations.”
According to SERAP, Nigerians have the right to know why the NNPCL failed to remit the subsidy removal savings to the Federation Account.
“We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel the NNPCL to comply with our requests in the public interest,” the letter read in part.
“Without the full recovery and remittance of the missing N500 billion of oil revenue, the dire economic situation may worsen and Nigerians will continue to be denied access to basic public goods and services,” it read.
“The Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples’ Rights and article 19 of the International Covenant on Civil and Political Rights guarantee to everyone the right to information on the whereabouts of the missing N500 billion of oil revenue.”
News
Creative Economy Ministry Secures $300M Investments Commitment

Hannatu Musawa, Minister of Arts, Culture, and the Creative Economy, has revealed that the ministry has secured over $300 million in investment commitments.
Musawa disclosed this at the Ministerial Press Briefing Session held on Friday in Abuja.
She emphasised that the government has set a goal of creating at least two million jobs within the creative industry by 2027.
According to her, “In just 18 months, we have secured over $300 million in investment commitments and established innovative funding mechanisms, including the Creative Economy Development Fund (CEDF).
“We have also initiated the development of key infrastructure projects, which are projected to generate at least two million jobs by 2027.”
The Minister further noted that President Bola Tinubu plans to unveil creative hubs across Nigeria’s six geopolitical zones in the coming months, positioning Nigeria as a global hub for creativity.
“Beyond the numbers, we have elevated Nigeria’s global cultural standing while ensuring inclusivity, empowering rural communities, women, and young people to participate meaningfully in the creative economy,”.
The Minister highlighted the significant role the creative economy will play in Nigeria’s future, particularly the music industry.
She pointed out that the government has identified five key segments within the music value chain production, marketing, sales, and others—that can generate over 500,000 new jobs by 2030, representing a transformative opportunity for Nigeria’s economy.
“A key initiative in this drive is the $200 million Creative Economy Development Fund (CEDF), managed by the African Export-Import Bank (AfreximBank).
The fund aims to provide affordable financing to creative businesses and entrepreneurs, empowering them to innovate, expand their operations, and contribute to job creation across multiple sectors such as film, music, fashion, and tourism.
The minister said in addition to funding, the ministry is working on the Abuja Creative City project, which seeks to transform the capital into a vibrant hub for the creative sector.
“This project is expected to foster economic growth, create job opportunities, and showcase Nigeria’s diverse cultural heritage.
The Minister also emphasized the importance of effective policy formulation to foster the growth of the creative sector. Currently, the Ministry is evaluating 49 sub-sectors within the creative industries, with priority given to key areas such as music, film, fashion, art, and gastronomy.
“This targeted approach is aimed at driving sustainable development and further enhancing Nigeria’s cultural and economic standing on the global stage.
“Through these initiatives, the Nigerian government is taking significant steps to harness the untapped potential of its creative industries, paving the way for a more dynamic and inclusive economy.
As part of this effort, the Ministry, in collaboration with the private sector and led by the Nigerian Economic Summit Group, is working on creating a clear policy framework not just for the creative economy but also for the art, culture, and tourism sectors.
The Nigerian government is working on a series of policy reforms National Intellectual Property Policy, which will soon be presented to the Federal Executive Council.
This policy aims to foster industry growth by securing intellectual property rights for creators. Additionally, the government is reviewing key policies such as the National Policy on Incentives for the Arts, Culture, and Creative Economy, which is designed to offer incentives and boost confidence among creative businesses.
Another important update is the review of the 2005 National Tourism Policy, intended to better support the tourism sector, which plays a crucial role in Nigeria’s cultural economy.
The government is updating the outdated 1988 National Policy on Culture and introducing a new Policy on Monetary and Credit Solutions to ensure financial support for creative businesses.
Alongside the Creative Economy Development Fund, these reforms aim to create a supportive environment for the sector to grow and position Nigeria as a major force in the global creative economy.
Musawa also announced the implementation of the Creative Economy Development Fund (CEDF), which aims to provide funding to creative businesses, drive innovation, and create jobs across multiple sectors.
Additionally, a global standard arena is under construction in Nigeria to host major music and cultural events, aligning with the country’s ambition to become Africa’s cultural hub.
News
IFC Invests $5m in Husk Nigeria to Build 108 Solar Mini Grids

Husk Power Energy Systems Nigeria Ltd (Husk Nigeria), a subsidiary of solar mini-grid operator Husk Power Systems Inc., has received a $5 million investment from The International Finance Corp. (IFC), a member of the World Bank Group, with the support of the Government of Canada.

L-r: Ethiopis Tafara, Regional Vice President for Africa, International Finance Corporation (IFC), and Olu Aruike, Country Director, Husk Power Systems, Nigeria during the signing of a $5m investment meant to expand access to reliable, renewable energy in Nigeria through IFC’s $250m DARES platform in Abidjan, Cote d’Ivoire
The financing will support the rollout of Husk’s portfolio of solar hybrid mini grids in Northern Nigeria, helping address one of the country’s most urgent development challenges: access to electricity.
It marks the first investment under the IFC Distributed Access through Renewable Energy Scale-up (DARES) Platform, a $200 million debt facility approved in November 2024 to catalyze private sector solutions across West and Central Africa.
The DARES Platform complements the World Bank-financed Nigeria DARES Project, a $750 million initiative launched in December 2023 and implemented by Nigeria’s Rural Electrification Agency.
Together, these efforts aim to provide over 17.5 million Nigerians with new or improved electricity access through decentralized renewable energy (DRE) systems.
IFC’s financing package will enable Husk to develop and operate up to 108 mini-grid sites, resulting in around 28,750 new electricity connections and delivering clean, affordable energy to around 115,000 people and businesses.
The total project cost is estimated at $25 million. IFC’s $5 million package includes a $2.5 million senior loan from its own account and a $2.5 million concessional subordinated loan from the Canada-IFC Renewable Energy Program for Africa.
The facility is structured as a revolving loan, allowing Husk to repay and redraw funds multiple times during the project’s implementation.
“The DARES Platform is an innovative approach to tackling one of Africa’s most pressing challenges—energy access. By partnering with Husk, a leading renewable energy developer globally, through the first project under the DARES Platform, we are not only addressing the immediate electricity needs of underserved communities in Nigeria but also laying the foundation for a scalable model that can be replicated across the continent,” said Ethiopis Tafara, regional vice president of Africa, IFC.
“This innovative debt facility is exactly what the minigrid industry needs to scale — blended, long-term and affordable capital,” said Manoj Sinha, Husk co-founder and CEO.
“Access to working capital is critical for sustained and rapid growth. Adding 108 new communities to our minigrid portfolio with IFC support is an important step toward our goal of deploying at least 250MW of decentralized renewable energy projects in Nigeria.” said Olu Aruike, Manager, Husk Nigeria.
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