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E-Business

Unified Payments Appoints New Directors

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Unified Payment Services Limited has appointed Babatunde Okeniyi, director, Marketing and Sales and Sina Joseph as director, Information Technology & Operations.

Okeniyi will bring to his new position, institutional knowledge of Unified Payments, wealth of experience of about two decades and valuable industry contacts.

 Until his new appointment, Babatunde was director, IT/Operations in Unified Payments, a position he attained after working as group head, Operations.

Prior to becoming a member of the Unified Payments family, Babatunde worked in different institutions including Citibank Nigeria and UBA Plc where he was general manager and group chief information officer (CIO).

Babatunde is a fellow, International Academy of Cards & Payments, alumnus of Lagos Business School where he completed his Advance Management Programme (AMP), Obafemi Awolowo University (B.Sc.) and University of Lagos (MBA).

Sina Joseph brings to Unified Payments, a wealth of experience spanning over 2 decades. After a fulfilling career in Citi Bank Nigeria, Sina joined the services of Access Bank where he worked and rose to the position of chief information officer.

He subsequently worked in Keystone Bank (formerly Bank PHB) general manager and head of Information Technology.

Upon disengagement from Keystone Bank, Sina enrolled for his General Management Programme (GMP) at the prestigious Harvard Business School and completed in May, 2013 before returning to Nigeria to join the services of Unified Payments effective June, 2013.

In addition to being an alumnus of Harvard Business School, Sina is an alumnus of University of Benin where he distinguished himself by obtaining a First Class Degree (B. Sc. Hons.) in Industrial Mathematics.

Sina is an industry player and valuable asset. He has been involved in different industry projects including (i) Member, CBN Technical Committee for implementation of RTGS (ii) NIBSS’ Board Technical Committee for selection of National Central Switch; and (iii) Chairman, NIBSS’ Committee for setting the Rules and Standards for the National Central Switch.

Unified Payments® is a card-neutral and option-neutral Payments Service Provider owned by a consortium of leading Nigerian banks.

Unified Payments® operates as a shared infrastructure for the banking community in Nigeria and Payments Service Provider within and outside Nigeria, with a mission to be the most preferred e-payment service provider in Africa.

Formerly known as ValuCard Nigeria Limited, the name of the Company was changed in 2012 to reflect its new business, following a successful transformation from a domestic card scheme to a provider of payment services supporting different payment options and schemes.


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Cyberattacks: ‘56 Percent of Cases Stem from Existing Logins

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A new report by Sophos, ybersecurity firm, has said that attackers primarily gained initial network access—56 per cent of all MDR and IR cases—by exploiting external remote services like firewalls and VPNs using valid credentials.

Cyberattacks: ‘56 Percent of Cases Stem from Existing Logins

The 2025 Sophos Active Adversary Report details attacker behavior and techniques from over 400 Managed Detection and Response [MDR] and Incident Response [IR] cases in 2024.

According to the report, the combination of external remote services and valid accounts align with the top root causes of attacks.

For the second year in row, compromised credentials were the number one root cause of attacks [41% of cases]. This was followed by exploited vulnerabilities [21.79%] and brute force attacks [21.07%].

When analysing MDR and IR investigations, the Sophos X-Ops team looked specifically at ransomware, data exfiltration, and data extortion cases to identify how fast attackers progressed through the stages of an attack within an organisation.

In those three types of cases, the median time between the start of an attack and exfiltration was only 72.98 hours [3.04 days]. Furthermore, there was only a median of 2.7 hours from exfiltration to attack detection.

“Passive security is no longer enough. While prevention is essential, rapid response is critical. Organisations must actively monitor networks and act swiftly against observed telemetry.

Coordinated attacks by motivated adversaries require a coordinated defense. “For many organisations, that means combining business-specific knowledge with expert-led detection and response.

Our report confirms that organizations with proactive monitoring detect attacks faster and experience better outcomes,” said John Shier, field CISO.

The 2025 Sophos Active Adversary Report further reveals that attackers can move quickly, with a median of just 11 hours between initial access and a breach attempt on Active Directory, a critical asset in Windows environments.

Akira emerged as the most prevalent ransomware group in 2024, followed by Fog and LockBit, the latter still active despite a major takedown.

Attack detection has improved overall, with dwell time—the time attackers remain undetected—dropping from four days to just two, thanks largely to the inclusion of MDR (Managed Detection and Response) cases.

Dwell time varied depending on the type of case: it held steady at 4 days for ransomware and 11.5 days for non-ransomware cases in incident response (IR) investigations.

In contrast, MDR cases showed much faster response times—3 days for ransomware and just 1 day for non-ransom – ware attacks.

The report also highlights that 83% of ransomware deployments occurred outside local business hours, showing attackers favor overnight activity.

Additionally, Remote Desktop Protocol (RDP) was exploited in 84% of cases, making it the most commonly abused Microsoft tool.

To strengthen their cybersecurity posture, Sophos advises organizations to take several key steps.

First, they should close any exposed Remote Desktop Protocol (RDP) ports and implement phishing-resistant multifactor authentication (MFA) wherever feasible to reduce unauthorized access risks.

Additionally, companies should prioritize timely patching of vulnerable systems, especially those exposed to the internet. Deploying Endpoint Detection and Response (EDR) or Managed Detection and Response (MDR) solutions with 24/7 monitoring is crucial.

Finally, having a well-defined incident response plan—and regularly testing it through simulations or tabletop exercises—can greatly improve preparedness for potential attacks.


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Kaspersky Presents Insight on 14% Increase in Spyware Attacks on Businesses in Africa @ GITEX Africa

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As part of the company’s participation at the GITEX Africa conference, taking place in Morocco on 14-16 April 2025, Kaspersky will address the dynamics for cyberthreats in the African region as per the latest anonymised data from the Kaspersky Security Network (KSN)¹.

From 2023 to 2024 businesses in Africa were targeted by web threats, on-device threats, and attacks aiming to steal data, including spyware and password stealers.

Phishing and ransomware continue to be significant threats in the region, with 66 million phishing link clicks seen by Kaspersky in the African region in 2024, including over 14.8 million phishing link clicks by corporate users.

Web-based threats, or online threats, are a category of cybersecurity risks that may cause an undesirable event or action affecting users browsing the Internet.

According to Kaspersky data, there were 131 580 587 web threats detected in 2024 in the African region, including almost 20 million attack attempts in Kenya, almost 17 million in South Africa, and 12.6 million in Morocco. Businesses were targeted by web threats more often in 2024 than in 2023, with threat detections increasing by 1.2%.

Local (on device) threats include malware that is spread via removable USB drives, CDs and DVDs, or that initially makes way onto the computer in non-open form (for example, programs in complex installers, encrypted files, etc.).

According to Kaspersky telemetry, local (on device) threat detections in organisations in the African region in 2024 increased by 4% compared to 2023. Among the countries that saw growth in local threats detected in organisations were Nigeria (169% increase), Ethiopia (86%), South Africa (32%), Senegal (11%), and Morocco (9%).

There has been a spike of threats related to data theft. According to Kaspersky data, there was a 14% growth in spyware attack detections on businesses in the African region from 2023 to 2024.

Spyware is secretly installed on a user’s computer to monitor their actions and collect their data. Apart from that, there has been a 26% increase in password stealer detections. Password stealers are a type of malware designed to harvest login credentials and other sensitive data.

“Our statistics show an increase in attack detections for several types of cyberthreats, and the factors driving these increases are multifaceted. In the B2B sector, the continuing shift toward hybrid work models and the rush to digitise operations — often outpacing cybersecurity investments — may leave businesses in Africa exposed to advanced persistent threats.

In the B2C space, the explosion of digital financial services, coupled with low digital literacy rates, makes individuals prime targets for opportunistic attacks,” comments Maher Yamout, Lead Cybersecurity Researcher with Kaspersky Global Research and Analysis Team.

“Organisations in Africa should prioritise a unified approach by enhancing collaboration, investing in specialised cybersecurity training, and promoting digital literacy to effectively combat the rising tide of cybercrime. Initiatives like the African Cyber Surge operation and targeted educational programs can serve as blueprints for building a resilient digital ecosystem across the continent.”


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Africa Plans to Establish a $60Bn AI Fund

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A $60 billion Africa AI Fund is set to be established, leveraging public, private, and philanthropic capital. The goal is to build a secure, inclusive, and competitive African AI economy through foundational and catalytic investment, according to a declaration made at the recent Global AI Summit on Africa in Kigali, Rwanda.

The declaration seeks to leverage the potential of AI to drive innovation and competitiveness to advance Africa’s economies, industries, and societies. Second, to position Africa as a global leader in ethical, trustworthy, and inclusive AI adoption.

The declaration also seeks to foster the sustainable and responsible design, development, deployment, use, and governance of AI technologies in Africa.

The memorandum was facilitated by Qhala, Smart Africa, Rwanda’s Centre for the Fourth Industrial Revolution, and supported by the Gates Foundation.

Qhala is an AI enabler dedicated to driving innovation and digital transformation across Africa.

In a statement, Qhala said the declaration outlines shared commitment among African nations to align national strategies with continental goals, safeguard data sovereignty, build digital infrastructure, and foster a sustainable AI innovation ecosystem.

The organisation went on to say Africa’s AI landscape is changing at a fast pace and it is projected to contribute $2.9 trillion to the African economy by 2030.

Shikoh Gitau, CEO of Qhala, said: “This declaration is timely, as Africa’s AI ecosystem is rapidly evolving but remains fragmented and underfunded. This will ensure that Africa takes its place in a leadership role in global AI development.”

Lacina Koné, CEO of Smart Africa, added: “AI is not just technology to us, it’s an African arrow that, when thrown with the right ethical frameworks and inclusive policies, can pierce the way to African digital prosperity and resilience for the benefit of every citizen.”


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