Technology
Phishing Attacks in Nigeria Drop 13% in H1 2021
By Adedapo Adesanya
Nigeria recorded a 13 per cent decline in the number of phishing attacks recorded and blocked by Kaspersky for the first half of this year when compared to the same period of 2020.
The country emerged third behind first-place Kenya (48 per cent decline) and second-place South Africa (17 per cent decline).
The number of phishing attacks recorded in South Africa for the first half of 2021 stood at 1,031,006, while Kenya recorded 601,557, with Nigeria reporting 393,569.
According to the cybersecurity firm, while the decline does suggest and support research trends – that cybercriminals have become more targeted, focusing their efforts on advanced persistent threat (APT) campaigns in Africa – the phishing threat is still very prevalent.
With over two million attacks combined in the three countries, it highlights that phishing is still a significant threat in Africa and illustrates the importance of ensuring cybersecurity solutions are installed on all connected devices.
“This decrease is in line with global trends and supports the decline that Kaspersky research identified happening through the course of last year already.
“Of course, this does not mean that organisations and consumers can ignore the risk of traditional cybercrime attacks or that phishing, as well as spam, are still not of significant concern across Africa.
“Instead, people need to become even more aware of cybersecurity best practices and remain vigilant to protect their personal and business systems from the risk of compromise,” Mr Bethwel Opil, Enterprise Sales Manager at Kaspersky in Africa noted
“Phishing and spam remain some of the most effective ways of targeting unsuspecting users and gaining access into corporate systems or compromising personal financial and other information that can be used to perpetrate identity theft,” Mr Opil further said.
Phishing attacks across the continent have baited unsuspecting victims into handing over bank information, ID numbers, and more.
Cybercriminals have become even savvier with their tactics, embracing more sophisticated technology to lure people into clicking on things they should not. For instance, the COVID-19 vaccine rollout throughout Africa has given rise to ample opportunity for cybercriminals to carry out several attacks that are hidden in what, at first glance, may appear to be relevant information.
In addition to installing relevant cybersecurity solutions, individuals and businesses must consider use multiple email addresses. One can be for personal correspondence while another can be used for online shopping or social media.
Kaspersky also warned users to never respond to any spam as malicious users verify receipt and log responses of active email addresses.
In addition, users were instructed to always check the link and ensure the links start with HTTPS:// and not HTTP://.
They also warned against rush or panicking as scammers use such tactics to pressure users into clicking links or opening attachments.
Users were also advised to keep browser and operating system software up to date with the latest patches and use anti-spam filters in addition to antivirus and Internet security solutions.
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.
By Adedapo Adesanya
MTN Nigeria is restructuring its fintech business by bringing in its parent company, MTN Group, as a major investor to help cushion against losses that have plagued the units.
Yesterday, MTN Nigeria announced that its parent firm, based in South Africa, will acquire a 60 per cent stake in MoMo Payment Service Bank Limited (MoMo PSB) and Y’ello Digital Financial Services (YDFS) Limited.
MoMo is a payment service bank business that provides financial services, including deposits, payments, transfers and digital wallets to individuals and small businesses in Nigeria via digital and mobile‑based platforms.
Y’ello Digital is a licensed super-agent that provides agency banking and financial services, including cash deposits, withdrawals and bill payments. It operates through the MoMo network.
In an explanatory note in respect of the proposed transaction on Tuesday, MTN Nigeria said the transaction will cost N95.5 billion and reduce its exposure to the “loss-making” financial technology (fintech) companies.
According to the Nigerian subsidiary, the acquisition, which the South African company will conduct through another subsidiary, MTN Group Fintech, is a restructuring that consists of two phases.
MTN Nigeria said the first phase is the acquisition of a 60 per cent stake in each of the two fintech companies by MTN Group.
“MTN Group Fintech will acquire a 60 per cent stake in each of the Fintech Companies through a combination of primary issuance of shares by the Fintech Companies and a secondary acquisition of shares in MoMo PSB from MTN Nigeria, at an agreed valuation of N95.5 billon (on an intra-group debt free and cash free basis), resulting in an implied capital injection of N152.06 billion payable in cash or consideration other than cash, or a combination (the “Investment Amount”) into the Fintech Companies; and MTN Nigeria will retain a 40% stake in the Fintech Companies,” the statement read.
According to the explanatory note, the second phase is the creation of a financial holding company named Fintech HoldCo, which will be 60 per cent owned by MTN Group Fintech and 40 per cent owned by MTN Nigeria.
The fintech units are currently loss-making, and this move will help MTN Nigeria to reduce financial risk and share future losses and investment burden. However, it will still keep a significant minority stake (40 per cent)
The network provider said the transaction phase will be completed with Fintech HoldCo acquiring the shares held by MTN Group Fintech and MTN Nigeria in MoMo and Y’ello Digital.
“Subject to obtaining the approval of the CBN, Fintech HoldCo will become the 100% owner of the shares in the Fintech Companies, having acquired all the shares held respectively by MTN Group Fintech and MTN Nigeria in the Fintech Companies,” the telecommunications company said.
MTN Nigeria said an annual general meeting (AGM) will be held on April 30, for shareholders to consider and, if thought fit, approve the proposed transaction.
The telco said the proposed transaction distributes operational risks, allowing MTN Group Fintech to share future capital risks, such as losses, regulatory burdens and execution risks.
In August 2024, MTN Nigeria acquired a 7.17 per cent stake held by Acxani Capital Limited in MoMo.
The acquisition increased MTN Nigeria’s total stake in MoMo to 100 per cent.
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