Tag Archive for: Nigeria

When Your Customer Asks an AI Instead of Google: What Nigerian Businesses Should Actually Do in 2026

If your website’s organic traffic fell between 2024 and 2026 and you cannot find the competitor who took it, there may not be one. A structural change in how search results are presented has removed a large share of clicks from the web entirely. The visits did not move. They stopped happening.

This has produced two bad responses among Nigerian businesses. The first is to ignore it, on the reasonable-sounding basis that Nigerian customers still search normally. The second is to buy an expensive package of AI optimisation services from a vendor whose methods nobody can verify. Both are mistakes, and the evidence published over the last eighteen months is now good enough to say why.

How large is the change, really?

The most methodologically careful measurement comes from the Pew Research Center, which tracked the actual browsing behaviour of a panel across roughly 68,000 real Google searches. It found that users clicked an external link on 8 per cent of searches where an AI summary appeared, against 15 per cent where none did. Sessions ended entirely on 26 per cent of pages carrying an AI summary, against 16 per cent otherwise.

Other measurements point the same way with different magnitudes:

  • A randomised field experiment reported in April 2026 found AI Overviews reduced organic clicks on triggered queries by about 38 per cent, while self-reported satisfaction with search was essentially unchanged. Removing top-of-page AI Overviews roughly doubled outbound clicks.
  • Ahrefs, analysing Search Console data, reported click-through rate falling by around 58 per cent for top-ranking pages when an AI Overview appeared. Seer Interactive measured a comparable 61 per cent drop across billions of impressions.
  • BrightEdge put AI Overview trigger rates at roughly 48 per cent of tracked queries by early 2026, up sharply year on year. SparkToro’s clickstream analysis for January to April 2026 put the overall zero-click rate near 68 per cent.
  • Google announced at its 2026 developer conference that AI Mode, its fully generative interface, had passed a billion monthly users. Independent clickstream data over the same window put AI Mode at only about 0.34 per cent of searches, which suggests the larger disruption has not arrived yet.

These studies use different panels, query sets and methods, and their estimates range from mild to severe. Treat any single figure with caution. The direction, though, is consistent across every independent measurement published, which is more than can be said for most claims in this field.

One finding deserves separate emphasis because it changes the strategy. Seer Interactive found that brands cited inside an AI Overview received roughly 35 per cent more organic clicks and 91 per cent more paid clicks than uncited brands appearing on the same results page. The market is not shrinking uniformly. It is splitting into cited and bypassed, and the gap between those two states is now larger than the gap between position one and position five used to be.

Does this land the same way in Nigeria?

Partly. Nigeria had roughly 109 million internet users at the end of 2025, an online penetration of about 45.5 per cent, against 165 million active cellular connections. The NCC put active internet subscriptions at 142.6 million as of October 2025. This is an overwhelmingly mobile market, and roughly four in five AI Overview queries globally occur on mobile, so Nigerian users are squarely inside the affected population.

But the exposure is uneven, and the distinction matters for where you spend.

Local transactional queries are relatively protected. Someone searching for a solar installer in Lekki, a diagnostic centre in Wuse or a school fees portal needs an address, a phone number or a login. The answer is a destination, not a summary. These queries still produce clicks, and for most Nigerian SMEs they are the commercially important ones.

Informational and comparison content is heavily exposed. Guides, definitions, how-to articles and product comparisons are exactly what generative answers are best at absorbing. If your traffic strategy was built on ranking for questions, that strategy has been substantially devalued.

There is a Nigerian opening that few are taking. Generative systems answering questions about Nigeria are drawing on a thin, often outdated and frequently foreign-authored source base. Ask an assistant about Nigerian regulatory deadlines, local pricing or sector-specific practice and the answers are noticeably weaker than the equivalent for the United States or United Kingdom. That gap is an opportunity for any Nigerian organisation willing to publish primary, dated, verifiable local information. It is easier to become a cited source on a Nigerian topic today than it will be in three years.

What does the evidence say does not work?

This is the part of the discussion where most money is currently wasted. On 15 May 2026 Google published its first official guidance on optimising for generative features in Search. Its position is blunt: these features run on the same core index and ranking systems as ordinary Search, so optimising for them is still SEO. The guidance then names specific tactics site owners can stop worrying about.

  • txt and similar machine-readable files. Google states plainly that it does not use them. Google may crawl such a file, but it receives no special treatment.
  • Chunking content into small blocks for machine consumption. Google says its systems handle multiple topics on a page and surface the relevant part.
  • Rewriting content into an AI-friendly voice. The systems understand synonyms and meaning.
  • Special schema markup for AI features. Not required.

Independent testing points the same way. An Ahrefs study published in May 2026 measured AI citations across 1,885 pages against a control group of about 4,000, before and after adding schema markup, and found no citation lift — with a small decline on Google’s AI Overviews. The caveat matters: the tested pages already had strong citation baselines, so the result speaks most directly to brands with existing AI visibility. Separately, an analysis of roughly 500 million AI bot visits over ninety days recorded only a few hundred actual fetches of llms.txt files, with adoption across domains flat at around 10 per cent.

The honest reading is narrower than either camp claims. Schema markup remains worth implementing, because it drives rich results in conventional search and costs little. It is simply not an AI visibility lever, and should not be sold as one. An llms.txt file costs nothing to publish and may serve systems other than Google, so publish it if you like. Do not pay a consultant for it.

What does the evidence say does work?

The strongest evidence in this field is a peer-reviewed paper presented at ACM KDD in 2024 by researchers from Princeton, Georgia Tech, the Allen Institute and IIT Delhi, which tested content interventions across thousands of queries and several generative engines. It found that restructuring content to include cited sources, direct quotations from authorities and concrete statistics produced visibility gains in generated answers in the range of 30 to 115 per cent. Two interventions that the marketing industry sells heavily did nothing: rewriting purely for fluency produced almost no lift, and keyword stuffing produced a small negative effect on some engines.

Two qualifications from the same research are usually omitted when it is cited. The same intervention can help substantially on one engine and barely register on another, because retrieval and ranking models differ. And the gains, while real, are bounded — no strategy doubled citation rates across the board. This is a discipline of small compounding wins, not a lever.

That leaves a short list of things worth doing, all of which happen to also be good writing:

  1. Answer the question in the first sentence of each section, then give the context. A passage that only makes sense after three paragraphs of preamble cannot be extracted.
  2. Make sections self-contained. If a paragraph relies on a pronoun referring to something two screens above it, it will be retrieved without its meaning.
  3. Attribute every statistic to a named source with a date. This is the single most consistent finding across the research, and it is also the thing most Nigerian business blogs do least.
  4. Shape headings as the questions your customers actually ask, in their words, not your internal product vocabulary.
  5. Keep facts current and date-stamp updates. Generative systems favour recency, and stale figures are the fastest route to being dropped from a cited source pool.
  6. Keep entity information identical everywhere: business name, address, phone number, description. Across your site, your Google Business Profile, your directory listings and your social profiles. Inconsistency here is why assistants describe businesses inaccurately.
  7. Publish something nobody else has. Original data, your own operational numbers, a survey of your customers, a price index for your sector. Google’s own guidance now leans explicitly on content that is not a commodity restatement of what is already online.

The technical floor

None of the above matters if the systems cannot read your pages. Check these first, because they are cheap, verifiable and frequently broken on Nigerian websites:

  • Your robots.txt does not block the crawlers you want citing you, and your CDN or web application firewall is not silently rejecting their requests.
  • Important content is rendered server-side, not assembled by JavaScript after the page loads.
  • Nothing commercially important sits behind a login, a pop-up or an interaction that a crawler cannot complete.
  • Heading hierarchy is real: one H1, meaningful H2s, no headings used purely for visual size.
  • Your pages load fast enough to be crawled efficiently, which on a Nigerian-hosted or Nigerian-audience site usually means fixing hosting and image weight before anything else.
  • Google Search Console is connected, so you can use its generative AI performance report rather than guessing.

How do you measure this without buying a dashboard?

Measurement in this field is genuinely poor, and a large part of the vendor market exists to sell certainty that does not exist. A workable free approach:

  • Use the generative AI performance report in Search Console for Google surfaces.
  • Segment referral traffic from assistant domains in your analytics. Volumes will be small; the conversion quality is usually high, because someone who clicks out of an AI answer is deep in an evaluation.
  • Watch branded search volume and direct traffic. If you are being described accurately in AI answers without a link, these are where the effect surfaces.
  • Keep a fixed panel of twenty prompts a real customer might ask, and run them monthly across the major assistants. Log whether you appear, whether the description is accurate, and who appears instead. This is crude, manual and more informative than most paid tools.

The case for doing much less than the industry recommends

An honest article should make the opposing argument properly, so here it is.

For most Nigerian SMEs, absolute AI referral volume is still small. Conventional Google organic search, WhatsApp, Instagram and word of mouth remain far larger sources of business, and a naira spent improving conversion on the traffic you already have will usually beat a naira spent chasing citations. The generative optimisation services market is growing at rates that should make any buyer suspicious, and much of what it sells is unfalsifiable by design. Google’s own position is that this is ordinary SEO, which implies a business with slow hosting, thin content and no Google Business Profile should fix those first and ignore the acronyms entirely.

There is also a reasonable argument that the trend is being over-extrapolated. Independent clickstream data showed the United States zero-click rate falling slightly between December 2025 and March 2026 on a strict methodology, and AI Mode remains a rounding error in query share. People predicting the end of the web have been wrong before.

Weighing it up: the defensible position is that AI visibility should be a by-product of publishing genuinely useful, original, well-sourced, crawlable content, not a separate budget line with its own vendor. Everything on the evidence-backed list above improves your conventional search performance too. That is the test to apply to any proposal you receive. If a tactic only helps if the AI thesis is correct, it is a bet. If it helps either way, it is a decision.

The bottom line

The measured decline in clicks is real, substantial and unlikely to reverse. The market is separating into sources that get cited and sources that get bypassed, and the citation premium is large. But almost none of the tactics being sold to close that gap survive contact with evidence, and the search engine at the centre of it has now said so in writing.

What survives is unglamorous: be crawlable, be structured, be specific, be current, be attributable, and publish something about Nigeria that nobody else has published. That was good advice in 2019. It is now the only advice with data behind it.

Statistics in this article were current as of July 2026. This field changes monthly; verify before relying on any figure.


Sources

Google Search Central, optimising for generative AI features in Google Search;  Search Engine Journal, Google’s AI search guide calls AEO and GEO still SEO; Search Engine Journal, randomised field study on AI Overviews and organic clicks; Search Engine Land, Google zero-click searches in early 2026; Similarweb, zero-click marketing and the 2026 data;

Refinea, operational review of generative engine optimisation evidence including the Ahrefs schema study; We The Flywheel, review of the ACM KDD 2024 generative engine optimisation paper; DataReportal, Digital 2026: Nigeria; AllAfrica, NCC data on active internet subscriptions in Nigeria

AI-Powered Cyberattacks Are Here — Here Is How Nigerian Businesses Can Respond

Cybercriminals across the world have picked up a new tool: artificial intelligence. They are using it to write more convincing phishing emails, build malware that changes its code to evade detection, and automate attacks at a scale that was previously impossible. For Nigerian businesses, this is not a distant problem.

Deloitte Nigeria’s Cybersecurity Outlook 2025 states plainly that the “race between AI-powered cyberattacks and AI-driven defence is expected to intensify,” and that Nigerian organisations must treat AI not merely as a defensive tool but as core to their security strategy. The CYFIRMA threat assessment on Nigeria found that in 2025 alone, banking databases, telecom records, and government data were sold on dark web forums. Some listings included over 60 million Nigerian phone records.

A developer in Lagos reviewing a security dashboard

Cybersecurity analysts in Nigeria face a rapidly evolving AI threat landscape. Image: DST

What AI-Powered Attacks Actually Look Like

Polymorphic malware rewrites its own code each time it spreads, making traditional signature-based antivirus tools largely useless. Nigerian IT teams that rely on free or outdated antivirus software face the greatest exposure.

AI-generated phishing now produces emails and SMS messages indistinguishable from authentic bank communications. The days of spotting a scam by its typos are largely over. As ngCERT (Nigeria’s Computer Emergency Response Team) has documented, phishing campaigns within Nigeria’s cyber ecosystem have increased sharply. Read more: Beware the Bengal Cat: A Sinister Search Term.

Deepfakes are being used in audio and video to impersonate executives during financial transactions. A tactic increasingly documented in West African corporate environments.

The Scale of the Problem

Nigeria’s cybersecurity market was valued at $230 million in 2025 and is projected to reach $414 million by 2031, growing at 10.32% annually (Mordor Intelligence, January 2026). The National Information Technology Development Agency (NITDA) estimates Nigeria loses over $500 million annually to cybercrime.

African organisations suffer a significantly higher rate of attacks compared to global averages. Check Point Software’s research shows Africa is frequently used as a testing ground for new attack methods before they are deployed elsewhere.

Practical Steps for Nigerian Businesses

  1. Move beyond passwords. Implement multi-factor authentication (MFA) on all systems, especially for financial and administrative accounts.
  2. Train your employees. IBM research consistently shows that over 95% of cyberattacks involve human error. Related: New Employees Can Be a Cybersecurity Risk.
  3. Move to cloud-native security. Cloud-delivered security controls now represent 57.2% of cybersecurity spending in Nigeria, growing at 20.4% annually.
  4. Implement zero-trust architecture. Zero trust means no user or device is trusted by default — access is verified continuously.
  5. Choose your hosting carefully. A host with DDoS protection, automatic backups, and a Web Application Firewall reduces your attack surface. Read: Don’t Let Bad Hosting Sink Your Website.

Where to Report Incidents

  • ngCERT (cert.gov.ng) — Nigeria’s national response team
  • NITDA (nitda.gov.ng) — for data breaches under the Nigeria Data Protection Act
  • EFCC — for financial fraud related to the breach

Tech Independence Day: A Celebration of Innovation

As Nigeria celebrates its Independence Day, let’s reflect on the incredible strides made in the realm of technology. From humble beginnings to a burgeoning tech ecosystem, Nigeria has emerged as a significant player on the global stage.

Key Achievements

  • Rise of Fintech: Nigeria’s fintech sector has witnessed exponential growth, with innovative solutions transforming financial services. Mobile banking, P2P payments, and digital lending have become commonplace.
  • E-commerce Boom: Online marketplaces have revolutionized shopping experiences, providing access to a vast range of products and services.
  • Telecommunications Revolution: The expansion of mobile networks and broadband connectivity has connected millions of Nigerians, fostering economic growth and social development.
  • Tech Hubs and Startups: Cities like Lagos, Abuja, and Port Harcourt have become thriving tech hubs, nurturing a vibrant ecosystem of startups and innovators.

Challenges and Opportunities

Despite significant progress, challenges remain. Addressing issues such as infrastructure development, digital literacy, and cybersecurity is crucial for sustainable growth. However, these challenges also present immense opportunities for innovation and entrepreneurship.

Looking Ahead

As we look towards the future, Nigeria’s tech sector has the potential to drive economic diversification, create jobs, and improve the quality of life for its citizens. By investing in research and development, fostering collaboration between academia and industry, and promoting digital inclusion, we can unlock the full potential of technology for a brighter Nigeria.

Call to Action

Let’s celebrate our technological achievements and commit to building a Nigeria where innovation thrives. Together, we can harness the power of technology to create a more prosperous, inclusive, and sustainable nation.

Navigating Nigeria’s Tech Landscape: A Guide for Startups and Entrepreneurs

Nigeria’s tech landscape is rapidly evolving, presenting challenges and opportunities for startups and entrepreneurs. This guide will provide you with valuable insights into the Nigerian tech ecosystem, helping you navigate its complexities and maximize your chances of success.

Understanding the Nigerian Tech Ecosystem

  • Key Trends: The Nigerian tech scene is experiencing significant growth in sectors like fintech, agritech, and healthtech. Fintech startups are leading the way, leveraging technology to revolutionize financial services and provide access to credit and payments for millions of unbanked Nigerians. Agritech startups are using technology to improve agricultural productivity, reduce food waste, and connect farmers with markets. Healthtech startups are developing innovative solutions to address healthcare challenges, such as telemedicine, remote patient monitoring, and drug discovery.
  • Government Initiatives: The Nigerian government has taken steps to support the growth of the tech industry through various initiatives. The National Information Technology Development Agency (NITDA) plays a crucial role in promoting ICT development and providing incentives for startups. The government has also established technology hubs and innovation centres to foster a thriving tech ecosystem.
  • Challenges and Opportunities: While Nigeria offers a vast market and a growing tech talent pool, startups face several challenges. Infrastructure limitations, such as unreliable power supply and limited internet connectivity, can hinder operations. Talent acquisition and retention can be competitive, especially for skilled tech professionals. However, these challenges also present opportunities for innovative solutions. Startups that can overcome these hurdles and develop products and services that address the specific needs of the Nigerian market have a significant potential for success.

Building a Successful Startup in Nigeria

  • Market Research: Conducting thorough market research is essential for understanding the Nigerian market and identifying potential opportunities. Identify target customers, their needs, and preferences. Analyze the competitive landscape and assess the demand for your product or service.
  • Business Model: Develop a sustainable business model that aligns with your startup’s goals and the Nigerian market. Consider factors such as revenue streams, cost structure, and scalability.
  • Funding and Financing: Accessing funding can be a challenge for startups in Nigeria, but various options are available. Explore angel investors, venture capital funds, crowdfunding platforms, and government grants. Building strong relationships with investors and showcasing the potential of your startup can increase your chances of securing funding.
  • Talent Acquisition and Retention: Attracting and retaining top tech talent is crucial for the success of your startup. Consider partnering with universities and tech hubs to recruit graduates and interns. Offer competitive salaries, benefits, and opportunities for professional development to retain talent.
  • Networking and Partnerships: Building relationships with key players in the Nigerian tech ecosystem can provide valuable support and opportunities. Attend industry events, join relevant associations, and collaborate with other startups and established companies.

Case Studies of Successful Nigerian Startups

  • Paystack: A leading fintech startup that has revolutionized online payments in Nigeria. Paystack’s innovative platform has simplified payment processing for businesses and individuals, making it a popular choice among merchants.
  • Flutterwave: Another successful fintech startup that provides payment solutions for businesses across Africa. Flutterwave has expanded its operations beyond Nigeria and has become a major player in the African payments market.
  • Kobo360: A logistics startup that uses technology to optimize transportation and delivery services. Kobo360 has connected truck owners with shippers, improving efficiency and reducing costs in the logistics industry.

Frequently Asked Questions

  • What are the most promising sectors for tech startups in Nigeria?
    • Fintech, agritech, healthtech, and e-commerce are among the most promising sectors.
  • How can I access funding for my startup in Nigeria?
    • Explore angel investors, venture capital funds, crowdfunding platforms, and government grants. Building strong relationships with investors and showcasing the potential of your startup can increase your chances of securing funding.
  • What are the challenges of building a tech startup in a developing country like Nigeria?
    • Infrastructure limitations, talent acquisition and retention, and regulatory challenges are some of the key challenges faced by startups in Nigeria.
  • How can I attract and retain top tech talent in Nigeria?
    • Offer competitive salaries, benefits, and opportunities for professional development. Partner with universities and tech hubs to recruit graduates and interns.
  • What are the key regulations and compliance requirements for tech startups in Nigeria?
    • Familiarize yourself with relevant regulations, such as the National Information Technology Development Agency (NITDA) regulations and tax laws. Compliance with these regulations is essential for operating legally and avoiding penalties.

Conclusion

By understanding the nuances of the Nigerian tech landscape and implementing effective strategies, you can position your startup for success. This guide provides a solid foundation for navigating the challenges and seizing the opportunities that abound in Nigeria’s dynamic tech ecosystem.

Unveiling Angel Investors: Your Key to Funding Your Nigerian Startup

For Nigerian entrepreneurs, securing funding remains a significant hurdle. While traditional avenues like banks exist, angel investors offer a compelling alternative. These affluent individuals provide seed funding for promising ventures in exchange for equity.

Who are Angel Investors?

Angel investors are high-net-worth individuals who identify businesses with high growth potential. Unlike traditional loans, they invest directly in your company, sharing the risks and potential rewards. Notably, angel investors often contribute valuable mentorship and industry connections beyond just capital.

Why Consider Angel Investors?

Here’s why angel investors might be the perfect fit for your Nigerian startup:

  1. Growth Catalysts: Angel investors often possess extensive networks and industry expertise. Their guidance can propel your business forward beyond just funding.
  2. Equity over Debt: Unlike loans, angel investors share your success. You don’t incur the burden of immediate repayment, allowing you to focus on growth.
  3. Enhanced Credibility: Securing an angel investor signifies confidence in your venture, potentially attracting further funding and partnerships.

How to Attract Angel Investors

Now that you understand the benefits, here are steps to capture the attention of angel investors:

  1. Validate Your Idea: Don’t expect funding for mere concepts. Launch your product and demonstrate its viability in the real world.
  2. Craft a Compelling Business Plan: A well-structured plan showcasing your business acumen and growth strategy is essential.
  3. Master Your Pitch: Develop a captivating elevator pitch and a detailed pitch deck that highlights your strengths, weaknesses, and future projections. Don’t hesitate to seek professional help for crafting a winning pitch.
  4. Connect with Angel Investors: Networking events, online platforms like AngelList and Nigeria-specific networks like Lagos Angel Network are crucial for connecting with potential investors.

Top Angel Investors in Nigeria (2024)

The Nigerian startup ecosystem boasts a vibrant network of angel investors. Here are some prominent figures to consider for your pitch (information updated to September 2024):

  1. Olugbenga Agboola (Flutterwave CEO): A renowned investor known for backing promising startups like Bamboo and Remedial Health.
  2. Jason Njoku (Founder, IrokoTV): Launched Spark, a $2 million angel investment fund focused on Lagos internet startups. While Spark is no longer active, Njoku remains open to individual investments.
  3. Kola Aina (Co-founder, Ventures Platform): A prominent figure actively involved in angel investing, mentoring founders, and advocating for youth entrepreneurship.
  4. Olumide Soyombo (Investor): Known for leading Piggybank.ng’s seed funding round and backing other successful ventures like Paystack and Wealth8.
  5. Iyinoluwa Aboyeji (Co-founder, Andela & Flutterwave): A young entrepreneur particularly interested in tech startups focused on enterprise software, logistics, and financial services.

Beyond the List

This list highlights some prominent figures, but it’s not exhaustive. Research other active angel investors in your specific industry through online resources and startup communities.

Remember: Persistence is key. Rejection is a common part of the fundraising process. Refine your pitch, network strategically, and don’t give up on your vision!

Nigerian citizen to stand trial in Memphis for cyber crimes

A Nigerian citizen living in Accra, Ghana, has been extradited to Memphis to stand trial for an indictment charging him with cyber crimes and identity theft.

According to the U.S. Department of Justice, a federal grand jury in the U.S. District Court for the Western District of Tennessee indicted 64-year-old Babatunde Martins with wire fraud, aggravated identity theft, and conspiracy to commit money laundering.

Martins was also charged with conspiracy to commit wire fraud and conspiracy to commit computer fraud.

The indictment alleges that Martins, along with other Africa-based co-conspirators, hacked into the servers and email systems of a Memphis-based real estate company in June and July of 2016. Martins and his co-conspirators allegedly sent fake emails to “relevant business parties,” and redirected money to final destinations in Africa.

The indictment was handed down on August 23, 2017, but Martins did not make his initial appearance in a West Tennessee court until Monday, December 9, 2019.

The Department of Justice says that Martins is also charged with perpetrating romance scams, fake check scams, gold-buying scams, advance-fee scams, and credit card scams. The indictment alleges that proceeds from these scams were transferred from the U.S. to locations in Africa.

Five other people have pleaded guilty to being involved in the scheme. Olufalojimi Abegunde, 33, and Javier Luis Ramos-Alonso, 30, were convicted in March after a week-long trial in the U.S. District Court for the Western District of Tennessee. Abegunde received a 78-month sentence, and Ramos-Alonso received a 31-month sentence for their roles in the scheme.

The Department of Justice says that several others are still at large.

wreg.com

CBN limits USSD transactions to N100,000 per day

EFFECTIVE from June this year bank customers will not be able to use Unstructured Supplementary Service Data (USSD) channel to conduct transactions more than N100, 000 per day.

Also they will have to use both their PIN and a soft token to authenticate transactions above N20, 000. The USSD is a technology platform for online payments.

In addition, banks must allow their customers the option to opt out of USSD channel for financial transactions.

These were highlights of the ‘Regulatory Framework for the use of Unstructured Supplementary Service Data (USSD) for Financial Services in Nigeria’, issued by the Central Bank of Nigeria, CBN, yesterday.

In a circular announcing the framework, Director, Banking System and Payments Department, CBN, stated: “The vast applications of the USSD technology, in terms of available services have raised the issue of the risks inherent in the channel. In this regard, concerns have been expressed on the likely exposure of CBN approved entities to the possible breaching of the USSD accessed financial services in view of likely vulnerabilities in the technology and the ever growing threats.

‘‘Furthermore, the implementation in Nigeria has created multiple USSD channels to customers, thereby increasing their exposure to risk, without a common standard for all. ‘‘This framework therefore, seeks to establish the rules and risk mitigation considerations when implementing USSD for financial services offering in Nigeria.”

Among other things, the framework stated: “USSD based financial transaction requires encryption to protect the integrity of the financial information. To this end, Financial Institutions providing use of the USSD channel shall: Ensure that the customer receives notification on the status of every transaction conducted through the channel; Not use the USSD service to relay details of other electronic banking channels (in case of banks), to their customers, to prevent compromise of other electronic banking channels through the USSD channel; Avail the customers the option to opt in/out of the USSD channel for financial Transactions.’’

vanguard

NSCDC secures conviction of 18 persons accused of downloading films

The Nigerian Security and Civil Defense Corps (NSCDC), Kano State Command, has secured the conviction of 18 persons accused of downloading and sending Hausa films in Kano.

The command’s Public Relations officer, Mr Ibrahim Idris, disclosed this in an interview with the News Agency of Nigeria (NAN) in Kano on Monday.

Idris said the convicts were arraigned before a Magistrate’s Court in Kano on Friday, April 7, after they were arrested around Dakata in Ungoggo Local Government Area of the state. Read more

Global Surveilance: North Korea Hackers Target Nigerian Banks

A new report from a Russian online cyber security firm, Kaspersky, has observed that North Korean hackers are attacking banks in 18 countries, including Nigeria.

The organisation noted in its report that this could be regarded as the biggest bank heists in world history.

Banks and security researchers have previously identified four similar cyber-heists attempted on financial institutions in Bangladesh, Ecuador, the Philippines and Vietnam.

Read more