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Current Tech Market Conditions Leave Businesses Vulnerable to Insider Threat

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Quentyn Taylor tech market conditions

By Quentyn Taylor

How will GDPR regulations present new challenges for cyber security teams?  

GDPR legislation for both the UK and Europe has revolutionised the way businesses communicate, secure and store data, as well as holding businesses financially and personally accountable for when they fail to handle data correctly. In fact, GDPR fines hit a total of 97.29 million Euros in the first half of 2022, an increase of 92% over H1 2021.

This year, there has been an increasing number of fines centred around Article 32 of GDPR, which states that penalties can be enforced if companies have a lack of technical and security measures in place, even if this does not lead to a breach. While the focus will undoubtedly still be on enforcing reactive fines responding to data leaks, in 2023, penalising those that do not have adequate preventative measures will become increasingly more prominent. Ultimately, legislation has moved faster than many organisations can keep up with, particularly alongside the challenge of managing and executing IT security in a hybrid environment.  Next year, regulations will only become tighter, and organisations will be held up to increasingly higher scrutiny.

Where will IT investment be directed in 2023 and how will this impact the execution of security strategies?

Digitisation was critical in the shift to hybrid, and as a result, IT teams have enjoyed relatively high budgets in previous years while other business functions have been cut. However, now organisations are operating in a different landscape, with rising inflation and the threat of a global recession, many will begin to reassess all their budgets, IT included.

Despite this economic turbulence, security will remain a priority for investment. The threat landscape continues to develop at pace, and with financial and reputational damage attached to security breaches which could make or break some businesses as recession hits, minimising security budgets will be non-negotiable.

Yet, reducing IT budgets while increasing security investments present a problem when it comes to the execution of this strategy. Fundamental to the success of a security plan is whether it can be delivered via an operational IT team. Reducing spend for IT will inadvertently open organisations to attack, as security teams will not have the apparatus needed to implement their plans.

As we enter 2023, it is, therefore, critical for IT security leaders to consider their holistic IT strategy instead of viewing IT and security as two separate entities.

How will the global economic crisis impact the security industry?

Europe is still in a recovery state from the pandemic, and other macroeconomic pressures, such as energy shortages and soaring inflation rates are threatening how businesses can invest and grow. The tech industry has ultimately felt the crunch, with 12,000 tech jobs already being lost worldwide, the market is becoming increasingly more volatile and unpredictable.

Previously, the buoyancy of the tech sector meant many IT professionals were able to find a job by the end of the week if they were let go, but with this safety net removed, we will see cases of insider threat on the rise in 2023. Indeed, in Q3 2022, this peaked to its highest quarterly level to date accounting for nearly 35% of all unauthorised access threat incidents.

The current tech market conditions leave businesses vulnerable to insider threat, for example, some workers attempt to copy data and utilise it for their next employer. Cybercriminals will exploit this issue as well by keeping up with current trends in the tech sector, as they are able to implement new strategies that target those who are being laid off.

Organisations must ensure data is secured when employees leave the business and that it has not been transferred onto personal devices. Yet, according to our recent research, only 18% of IT decision-makers say they are able to track information across the full lifecycle. In response, businesses should increase visibility across their data journey, so organisations can identify when employees are printing and sharing information beyond company defences.

Quentyn Taylor – Senior Director of Information Security and Global Response at Canon EMEA

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Expert Reveals Top Cyber Threats Organisations Will Encounter in 2026

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Cyber Threats

By Adedapo Adesanya

Organisations in 2026 face a cybersecurity landscape markedly different from previous years, driven by rapid artificial intelligence adoption, entrenched remote work models, and increasingly interconnected digital systems, with experts warning that these shifts have expanded attack surfaces faster than many security teams can effectively monitor.

According to the World Economic Forum’s Global Cybersecurity Outlook 2026, AI-related vulnerabilities now rank among the most urgent concerns, with 87 per cent of cybersecurity professionals worldwide highlighting them as a top risk.

In a note shared with Business Post, Mr Danny Mitchell, Cybersecurity Writer at Heimdal, said artificial intelligence presents a “category shift” in cyber risk.

“Attackers are manipulating the logic systems that increasingly run critical business processes,” he explained, noting that AI models controlling loan decisions or infrastructure have become high-value targets. Machine learning systems can be poisoned with corrupted training data or manipulated through adversarial inputs, often without immediate detection.

Mr Mitchell also warned that AI-powered phishing and fraud are growing more sophisticated. Deepfake technology and advanced language models now produce convincing emails, voice calls and videos that evade traditional detection.

“The sophistication of modern phishing means organisations can no longer rely solely on employee awareness training,” he said, urging multi-channel verification for sensitive transactions.

Supply chain vulnerabilities remain another major threat. Modern software ecosystems rely on numerous vendors and open-source components, each representing a potential entry point.

“Most organisations lack complete visibility into their software supply chain,” Mr Mitchell said, adding that attackers frequently exploit trusted vendors or update mechanisms to bypass perimeter defences.

Meanwhile, unpatched software vulnerabilities continue to expose organisations to risk, as attackers use automated tools to scan for weaknesses within hours of public disclosure. Legacy systems and critical infrastructure are especially difficult to secure.

Ransomware operations have also evolved, with criminals spending weeks inside networks before launching attacks.

“Modern ransomware operations function like businesses,” Mitchell observed, employing double extortion tactics to maximise pressure on victims.

Mr Mitchell concluded that the common thread across 2026 threats is complexity, noting that organisations need to abandon the idea that they can defend against everything equally, as this approach spreads resources too thin and leaves critical assets exposed.

“You cannot protect what you don’t know exists,” he said, urging organisations to prioritise visibility, map dependencies, and focus resources on the most critical assets.

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NCC Begins Review of National Telecommunications Policy After 26 Years

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Nigerian Communications Commission NCC

By Adedapo Adesanya

The Nigerian Communications Commission (NCC) has commenced a comprehensive review of the National Telecommunications Policy 2000 (NTP), 26 years after its approval, citing rapid technological advancements and shifting market dynamics as the primary catalysts for the reform.

In a consultation paper released to the public, the commission said it is seeking input from stakeholders, including telecom operators, tech companies, legal experts, and the general public, on proposed revisions designed to reposition Nigeria’s telecommunications framework to match current digital demands. Submissions are expected by March 20, 2026.

The NTP 2000 marked a turning point in Nigeria’s telecom landscape. It replaced the 1998 policy, introducing full liberalisation and a unified regulatory framework under the NCC, and paved the way for the licensing of GSM operators such as MTN, Econet (now Airtel), and Globacom in 2001 and 2002.

Prior to the NTP, the sector was dominated by Nigerian Telecommunications Limited (NITEL), a government-owned monopoly plagued by obsolete equipment, low teledensity, and poor service. At the time, Nigeria had fewer than 400,000 telephone lines for the entire country.

However, the NCC noted that just as the 1998 policy was overtaken by global developments, the 2000 framework has become structurally misaligned with today’s telecom reality, which encompasses broadband, 5G networks, satellite internet, artificial intelligence, and a thriving digital economy worth billions of dollars.

“The rapid pace of technological change and emerging digital services necessitate a comprehensive update to ensure the policy continues to support economic growth while protecting critical infrastructure,” the Commission stated.

The review will target multiple chapters of the policy. Key revisions include: Enhancements on online safety, content moderation, digital services regulation, and improved internet exchange protocols; a modern framework for satellite harmonisation, coexistence with terrestrial networks, and clearer spectrum allocation to boost service quality, and policies to address fiscal support, reduce multiple taxation, and lower operational costs for operators.

The NCC is also proposing entirely new sections to the policy to address emerging priorities. Among the key initiatives are clear broadband objectives aimed at achieving 70 per cent national broadband penetration, with a focus on extending connectivity beyond urban centres to reach rural communities.

The review also seeks to formally recognise telecom infrastructure, including fibre optic cables and network masts, as Critical National Infrastructure to prevent vandalism and enhance security.

In addition, the commission is targeting the harmonisation of Right-of-Way charges across federal, state, and local governments, alongside the introduction of a one-stop permitting process for telecom deployment, designed to reduce bureaucratic delays and lower operational costs for operators.

According to the NCC, the review aims to make fast and affordable internet widely accessible. “The old framework was largely voice-centric. Today, data is the currency of the digital economy,” the commission said, highlighting the need to close the urban-rural broadband divide.

The consultation process is intended to gather diverse perspectives to ensure the updated policy reflects current technological trends, market realities, and consumer needs. By doing so, the NCC hopes to maintain the telecommunications sector’s role as a key driver of economic growth and digital inclusion.

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FG to Scrutinise MTN’s $2.2bn Full Take Over of IHS Towers

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IHS Towers

By Adedapo Adesanya

The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, says the Nigerian government is assessing MTN Group’s acquisition of IHS Towers to ensure the deal aligns with Nigeria’s telecommunications development goals.

On Tuesday, MTN Group said it has agreed to acquire the remaining 75.3 per cent stake in IHS Holding Limited in an all-cash deal valued at $2.2 billion. The deal will be funded through the rollover of MTN’s existing stake of around 24 per cent in IHS, as well as about $1.1 billion in cash from MTN, roughly $1.1 billion from IHS’s balance sheet, and the rollover of no more than existing IHS debt.

Mr Tijani, in a statement, said the administration of President Bola Tinubu has spent the past two years strengthening the telecom sector through policy clarity, regulatory support, and engagement with industry stakeholders, boosting investor confidence and sector performance.

“Recent financial results from key operators show improved profitability, increased investment in telecoms infrastructure, and operational stability across the sector,” he said.

“These gains reflect the resilience of the industry and the impact of government reforms.”

The minister added that telecommunications infrastructure is critical for national security, economic growth, financial services, innovation, and social inclusion.

“We will undertake a thorough assessment of this development with relevant regulatory authorities to review its impact on the sector,” Mr Tijani said.

He added that the review aims to ensure market consolidation or structural changes, protect consumers, safeguard investments, and preserve the long-term sustainability of the telecom industry.

Mr Tijani also said the government remains committed to maintaining a stable and forward-looking policy environment to keep Nigeria’s telecommunications sector strong and sustainable, in line with the administration’s broader digital economy vision.

Upon completion, the transaction will see MTN transition from being a minority shareholder in IHS to a full owner. It will also see IHS exit from the New York Stock Exchange and become a wholly owned subsidiary of MTN.

For MTN, the deal represents a decisive shift as data demand surges and digital infrastructure becomes increasingly strategic with a booming digitally-oriented youth population on the continent.

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