Technology
Nigeria Has Only 3,500 Cyber Security Experts—Report
**As Telcos, Financial Firms, Govt Agencies Lose N288bn to Cyber Frauds
By Adedapo Adesanya
A report by the Africa Cyber Security Report on Nigeria has revealed that various entities and individuals collectively lost a total of $800 million (N288 billion) to cyber-attacks in 2018.
According to the report, which was unveiled Monday in Lagos, financial services companies, government institutions, telecommunication firms and financial technology companies operating in Nigeria, among others were the major victims of various Internet criminal activities.
This figure showed an increase of 27 percent in cyber crimes trend in 2018, compared with $649 million lost in the previous year in 2017.
The report was launched by Demadiur Systems Limited at a Nigeria Cyber Security Summit in Lagos on Monday which focused on the theme “Combating the Global E-fraud.”
Highlight of the report indicated that in Nigeria, during the period under review, had just 3,500 skilled cyber security professionals and this amounted to a shortage of necessary skilled force at senior management and mid management levels.
The report also showed that 70 percent of companies in the country are going to face talent shortage of cyber security professional in 2019 and beyond as the human resources arms of these companies face the constraints of lack of technical experience and lack of certifications in cyber security on the part of those they intend to employ.
The report also revealed that organizational spending in cyber security increased by 17 percent from 2017 as respondents spent above $500 million dollars in 2018.
While presenting the report at the cyber security summit, President, Demadiur Systems Limited and President, Medallion Communications Limited, Mr Ikechukwu Nnamani, noted that the money spent by most of the companies were for corrective measures and not for preventing attacks.
According to him, “Most of the companies did not take security serious until after they are hit. Then, they start taking remedial actions with fire-brigade approach, and when vendors show up to arrest the situation, they charge them huge sum.”
Meanwhile, the report further shows that there was a 21.3 percent increase in the number of reported cyber-crime incidents to the police in 2018, noting however that only 2.6 percent of such cases led to successful prosecution of culprits.
According to Mr Nnamani, despite the increase, the reported cases were still small given that there was a large amount of cyber security perpetrators in the country.
He noted that findings by the report hinged victims’ apathy to report cyber-attacks on factors such as feeling of shame, especially by financial institutions, lack of confidence in the judicial system, ignorance, greed which automatically makes the victim guilty of his own action, lacking trust in the forensic investigation system in the country, among others.
The 2018 report also showed that during the year, locally engineered malwares were on the rise, fraud through mobile platforms multiplies and targeted phishing attacks took to the high side.
Since most companies can now see the handwriting on the wall that the cyber-attacks on their operations are not ready to subside anytime soon, they recorded about 50 per cent increase in involvement of their board members on matters of cyber security.
Mr Nnamani said, “To ensure that the result of our survey and research provide a nationwide representation of the state of the cyber security, we interviewed several people within Nigeria, who numbered 300.
“The respondents included those in legal advisory, government, financial services, telecommunications, banking, manufacturing, healthcare services, cyber security, insurance and academia, all represented at randomly varying percentages,” he noted.
By Aduragbemi Omiyale
A cohort of developer interns has been inducted into the Developer Academy of Interswitch as part of efforts to deepen Africa’s tech talent pipeline.
The new cohort emerged through a rigorous multi-stage process involving technical assessments and interviews. They were chosen from over 20,000 applications.
The talents were sourced from across key engineering tracks, including Backend Development, DevOps, Mobile Development, Frontend Engineering, and Quality Assurance.
Their induction highlights both the scale of interest in software engineering opportunities in Nigeria and Interswitch’s role in nurturing the next generation of highly skilled technology professionals.
During the 9-month programme, participants will benefit from mentorship by experienced professionals, exposure to enterprise-grade systems, and the development of workplace readiness skills essential for today’s dynamic work environment.
Designed as an intensive and structured learning experience, the Developer Academy combines theoretical instruction with real-world application, equipping participants with the skills required to thrive in an increasingly global and competitive technology landscape.
At the end of the programme, top-performing interns may be offered full-time roles within Interswitch, while others are well-positioned to pursue opportunities across the broader technology landscape.
“At Interswitch, we have always believed in the capacity to see beyond the immediate challenges and focus on long-term impact. While the migration of skilled talent remains a reality, our approach is to actively shape the outcomes by building a strong and sustainable pipeline of technology professionals,” the chief executive of Interswitch, Mr Mitchell Elegbe, said.
“We are therefore committed to equipping individuals with the capabilities to contribute meaningfully to the broader technology ecosystem, locally and globally, not just for our own needs at Interswitch. In doing so, we are not only strengthening the industry but also reinforcing Nigeria’s position as a source of globally competitive engineering talent,” he added.
Also commenting, the Human Resources Officer, Mr Franklin Ali, said, “The Developer Academy reflects our long-term commitment to building talent at scale. We are equipping these young professionals not just with technical skills, but with the mindset, discipline, and adaptability required to thrive in diverse environments.
“Whether they build their careers within Interswitch, contribute to the local ecosystem, or explore global opportunities, they represent the strength and potential of Nigerian talent and carry forward the standard of excellence we are committed to building.”
Beyond its immediate training objectives, Interswitch’s Developer Academy is anchored on a broader strategic vision, one that addresses the ongoing migration of skilled talent from Nigeria and other developing economies.
As global demand for software engineers continues to rise, many highly skilled professionals are increasingly recruited by international organisations.
Interswitch’s approach reframes this trend, positioning talent development both as a means of local capacity building and as an opportunity to strengthen Nigeria’s reputation as a global hub for technology expertise.
By Modupe Gbadeyanka
Nigeria’s telecom landscape is about to be abuzz, with the much-anticipated launch of Flexmobile from Hazon Technologies.
Feelers indicate that the company will soon make a commercial debut, as the regulatory approval is now in the final stage.
It was gathered that the commercial rollout for Flexmobile should be June 1, 2026, as this depends on the authorisation of the Nigerian Communications Commission (NCC), which regulates the sector. The telco will have the distinctive 081 number series.
Early signals suggest a product ecosystem engineered around flexibility, data-centricity, and user control—an approach aligned with the evolving expectations of Nigeria’s digitally connected population.
For seamless operations, Flexmobile has sealed commercial agreements with its MVNE, IMBIL, and Airtel Nigeria.
“What lies ahead is more than a launch—it is the beginning of a new way to experience telecoms in Nigeria,” the chief executive of Hazon Technologies, Mr Victor ‘Gbenga Afolabi, said at a recent media briefing.
“After years of building the right partnerships and infrastructure, we are approaching a defining milestone. Flexmobile is designed to challenge conventions and introduce a smarter, more flexible telecom experience for Nigerians,” he added.
While full details of its offering will be unveiled at launch, Flexmobile is expected to introduce a suite of value-added services designed to go beyond traditional connectivity—positioning the brand at the intersection of telecoms, lifestyle, and digital enablement.
Backed by strong institutional partnerships and a robust MVNE framework, Flexmobile enters the market not just as another operator, but as a platform with the potential to reshape how telecom services are consumed and experienced.
By Aduragbemi Omiyale
A leading Information and Communications Technology (ICT) company, ipNX Nigeria, is joining forces with the Nigerian Communications Commission (NCC) to accelerate broadband penetration and drive inclusive digital growth across the country.
Recently, an executive delegation of the organisation paid a visit to the chairman of the regulatory agency, Mr Idris Olorunimbe.
“We are pleased to engage with the new chairman of the NCC and show our support as he takes on this important role.
“Strong leadership and a clear policy direction are essential to unlocking the full potential of Nigeria’s digital economy.
“At ipNX, we remain committed to working closely with the commission and other stakeholders to expand broadband access, enhance connectivity in educational institutions, and ultimately bridge the digital divide.
“This collaboration will empower millions of Nigerians and further position the country as a leader in Africa’s technological evolution,” the Managing Director of ipNX Nigeria, Mr Ejovi Aror, said at the visit.
In his remarks, Mr Olorunnimbe thanked the firm for the show of support, reiterating the commission’s commitment to fostering an enabling environment for private sector participation in achieving universal broadband access across Nigeria.
This collaboration is expected to advance Nigeria’s transformation agenda in technology and help boost the federal government’s broadband agenda for the country.
ipNX Nigeria has said it remains at the forefront of delivering cutting-edge broadband and ICT solutions, and this engagement underscores its unwavering dedication to supporting national development through technology-driven initiatives.
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