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The Notable Provisions of The Cybercrime Act of Nigeria

By
Emmanuel Ifeanyi Ogbuka
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0

Information Technology, and by extension the internet, remains one of the most impressive scientific breakthroughs in history. From forging personal relationships to facilitating trade & commerce across all levels, life has generally been made simpler.

But this has also opened a new type of crime perpetrated usually across borders and by individuals with varying forms of malicious intent from theft and defamation to terrorism.

This in most legal jurisdictions, Nigeria included, is what has led to the creation of Cybercrime as an offence category and as a crime deserving of its own unique Legal Framework. This is what will be forming the focus of this article which will be looking at :-

– The major pieces of legislation governing Cybercrime in Nigeria.

– The agencies charged with the prevention of Cybercrime and the enforcement of legal provisions on Cybercrime via directives and sanctions.

– The legal classifications of Cybercrime in Nigeria.

What is the major legislation on Cybercrime in Nigeria?

Cybercrime in Nigeria falls under the jurisdiction of the Cybercrimes (Prohibition & Prevention) Act of Nigeria 2015.

What is the aim of this act?

The Cybercrime Act constitutes the major legal Framework for the definition, prevention and sanctioning of offences deemed to be cybercrimes in Nigeria.

What is the major body/agency charged with the administration and enforcement of all pieces of legislation on Cybercrime in Nigeria?

Cybercrime in Nigeria falls under a legal implementation and enforcement network coordinated by the office of the National Security Adviser(NSA) in collaboration with the Attorney-General of The Federation charged with developing the Regulatory Framework on Cybercrime in Nigeria.

This legal and implementation network is known as the Cybercrime Advisory Council and is made up of , among others, :-

– The Office of The National Security Adviser (NSA)

– The Federal Ministry of Finance

– The Federal Ministry of Justice

– The Federal Ministry of Foreign Affairs

– The Federal Ministry of Trade & Investment

– The Department of State Security (DSS)

– The Nigerian Police Force

– The Central Bank of Nigeria (CBN)

– The Economic and Financial Crimes Commission (EFCC)

– The Independent Corrupt Practices Commission (ICPC)

– The Nigerian Intelligence Agency

– The Nigerian Security & Civil Defence Corps (NSCDC)

– The Defence Intelligence Agency

– The Defence Headquarters

– The Nigerian Identity Management Commission (NIMC)?

– The Nigerian Data Protection Bureau (NDPB)

– The Nigerian Communications Commission (NCC)

– The Nigerian Customs Service (NCS)

What are the types of Cybercrimes under the Cybercrime Act of Nigeria?

Cybercrimes under the act can be:- 

– Cybercrimes involving loss or damage to property :- Via hacking, typosquatting or virus transmission, etc.

– Cybercrimes causing harm,loss or damage to people  :- Via cyberstalking, phishing, cyberbulling & defamation (libel & slander), deliberate punitive pornography leakage, etc.

– Cybercrimes against the state or public policy:- Via cyberterrorism, cyberwarfare, database intrusion,state secret leakage, etc

What are some of the offences listed under the Cybercrime Act of Nigeria?

Some of the offences identified by the act include:-

– Electronic message misdirection

– Cybersquatting

-Operation of unregistered cybercafes

– Breaches of confidentiality and data/end-user privacy policies

– Electronic money transfer interception

– Email interception

– Data alteration & hacking

– Electronic fraud

– ATM/Payment Terminal (Point of Sale/POS) manipulation and hacking

– Online breaches of National Data infrastructure

– Copyright Infringement

– Online/Data Privacy violation.

What can companies in Nigeria do to prevent falling victim to Cybercrime?

Apart from ensuring adequate Cyber-security measures, companies need cyber or experienced Tech lawyers for the purposes of :-

– Rendering detailed advisory services on the provisions of all Cybercrime, Cyber-security & Tech legislation in Nigeria.

– Ensuring regulatory compliance especially in the area of rendering Data Protection Regulations compliance returns.

– Having experienced and diligent legal input in the drafting and documentation of IT policies , Terms and Conditions agreements, Data Protection & Password policies, as well as IT Service Level Agreements & Non-Disclosure Agreements (NDAs).

– Rendering sector-specific Cyber-security regulation advisory services e.g. Advisory services on the Central Bank of Nigeria Cyber-security Framework for Other Financial Institutions (OFIs).

Apple Resumes Advertisements on Twitter Days After Musk Called Out The Company

By
Ojukwu Emmanuel
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0

American multinational technology company Apple has resumed advertising on Twitter, days after Musk had alleged that the company had cut down on its ads spending on the platform.

The Tesla billionaire accused Apple of pausing its ads on the platform, which he asked if the company hated free speech.

Meanwhile, despite Musk’s allegations, few Twitter users disclosed that they could still see Apple’s ads on their feeds.

Musk also at one point alleged that Apple had threatened to remove Twitter from its AppStore, which he suggested that he was willing to develop an alternative phone if the tech company goes ahead to do such.

In a recent development, Musk seems to have backtracked on his allegations by disclosing that Apple never considered pulling down Twitter from its app store, after he had a meeting with the company’s CEO Tim Cook.

In his words, “Tim was clear that Apple never considered doing so”.

Musk disclosed that Cook had shown him around Apple’s headquarters, which he posted a video on Twitter, strolling around the firm’s stunning 1 Infinite Loop global headquarters in Cupertino, California.  He noted that they had a “good conversation,” which led to Apple resuming its Twitter ads.

Reports also disclose that Amazon is set to resume its ads on the platform at about $100 million a year. The return of these companies spurred Musk to openly thank them on Twitter.

He Tweeted, “Just a note to thank advertisers for returning to Twitter”.

Apple’s resumption of its ads on Twitter will no doubt give Musk a feeling of ecstasy, considering the fact that Apple is consistently one of Twitter’s top advertisers, spending $100 million annually.

After Musk acquired the company in October, Apple spent roughly $131,600 on Twitter ads between November 10 and 16, down from $220,800 between October 16 and 22.

In the first quarter of 2022, it spent $48 million, accounting for 4% of Twitter’s total revenue for the period.

Recall that after Musk completed the $44 billion Twitter deal, several companies halted their ads spending on the platform to assess any new changes in the site’s direction.

Several automobile companies such as Audi and General Motors suspended their ads on Twitter. Food company General Mills, known for the breakfast cereal Cheerios and ice cream Haagen-Dazs, also stopped ads on Twitter, as well as pharmaceutical company, Pfizer.

CEO of Mondelez International, one of the largest food and beverage companies, Dirk Van De Put, disclosed that the company felt there is a risk their ads would appear next to the wrong messages, which was why the company decided to pause until the risk is as low as possible.

This prompted Musk to make a public pledge to advertisers that the looser content moderation policies he had in mind for the platform would not tolerate hate speech and turn Twitter into a “free-for-all hellscape.” 

Musk disclosed that the impact of the pullback saw Twitter have a massive drop in revenue, blaming what he called “activist groups” who he said were pressuring advertisers.

Jumia to Shut Dubai Office As Part of Plan to Cut Operational Costs

By
Samuel Nwite
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0

Africa’s ecommerce giant, Jumia, is moving to close its Dubai office as part of its plan cut down on operating costs amid economic headwinds that have seen the company lost massive revenue.

This is coming weeks after the company’s founders and co-CEOs Sacha Poignonnec and Jeremy Hodara left. Under the plan, Jumia will move all top executives from the 60-man Dubai office to its African offices.

“Managers will move to countries in their region, with most going to Morocco, Kenya and Ivory Coast, and the 60-person Dubai office will be disbanded.

“As we are an Africa-focused company, we want our leaders to be based with customers, vendors and employees,” the new acting head Francis Dufay said in an interview.

The move also involves streamlining the company’s products and services to fit into targeted markets across Africa.

According to Dufay, Jumia will focus on its “bread-and-butter” e-commerce categories, including fashion, beauty, consumer electronics and appliances. The company will also pause the logistics services it offers third parties in its operating countries except for Morocco, Nigeria and Ivory Coast, he said.

“We have spread ourselves a bit too thin in the past by pushing many projects across our markets,” he said. “We are at a very interesting point in the life of the company, as the board appointed a new leadership more focused on the on-the-ground operations to drive a new plan to lead to a significant improvement on the profitability trajectory.”

The company said it will be executing on a clear strategy to accelerate progress towards profitability, listing the core levers of this strategy as follows:

  • Enhanced focus on the core business
  • Stronger cost discipline
  • Profitable usage growth through strengthened e-commerce fundamentals
  • Balanced monetization strategy
  • Focused JumiaPay development

Jumia has struggled to keep its businesses profitable since it went public on the New York Stock Exchange. The ecommerce has recorded massive decline that has tanked its shares as much as 68%.

Jumia’s third-quarter report showed its revenue spiraling downward. The company’s operating loss declined 33% from $64 million to $43.2 million, while adjusted EBITDA losses dropped to 13% from $52.5 million to $45.5 million; their lowest level in six quarters.

Based on this trajectory, which has kept its shares in a bad shape, Jumia is cutting operational costs in a push to return the company to revenue growth.

“We have a clear focus for the next chapter of our journey and are taking decisive action to support our path to profitability. We will bring more focus to the business, directing our efforts and resources to projects and activities that deliver tangible value to our consumers, sellers and broader ecosystem participants. We are also enforcing tighter cost discipline and driving efficiencies across the full structure, while enhancing the fundamentals of our core e-commerce business to drive usage growth,” Dufay said.

Zeeh Africa Is Nigeria’s Fastest Growing Open Banking API of the Year 2022

By
Ndubuisi Ekekwe
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0

Congrats David Adeleke and Frank Uwajeh for building and making Zeeh Africa a new category-king startup and an evolving operating system of the new banking age. We welcome you to understand how Zeeh can help you fix that banking integration problem here.

ZeeH Africa aims at ensuring seamless access to financial data and improving cyber security in the industry. Our mission is to build an ecosystem in the Fintech industry where financial organizations support each other and stimulate innovations, hence, providing highly secured and seamless services to its users.

Reddit Digital Collectibles Hit a Record High of 255,000 Avatars Minted

By
Paul Ugbede Godwin
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0

Reddit’s nonfungible token (NFT) collection hit another milestone on December 3 with a record 255,000 of its “avatars” minted in one day.

Reddit has established communities and members, and NFT sales are just one step further to making existing communities more engaged.

The new minting record beat the previous all-time highs on August 30th and 31st, which saw just over 200,000 Reddit avatars minted each day.

The NFTs are primarily used on the social media platform as a users’ avatar and are created by a number of independent artists that use the platform. I do not think NFTs will have any significant impacts on the existing communities but to create hype for people to collect NFTs that they can show off.

At the time of the collection’s launch in July, it was widely seen as a way to boost mainstream adoption of blockchain technology as Reddit shied away from using crypto for purchases of the avatars and chose to call them digital “collectibles” instead of NFTs. The first season of collectibles is unique, but the second season was purely hyped because many were missing out on the first season.

The number of Reddit avatars minted, one bar represents one day. Source: Dune

That being said, the second season NFTs are less likely to be sold at high value compared to the first season. With the record mint day, Reddit’s Polygon Matic -based NFTs now boast around 4.4 million in circulation, according to data from Dune Analytics.

However, despite the amounts minted, Dune data shows just over 40,000 Reddit avatar NFTs have been sold since their launch,  and there are around 3.7 million holders of avatars indicating that most choose to hold onto their NFT.

The sales volume of the collectibles recently hit an all-time high of $2.5 million on Oct. 24 across 1,991 buyers.

Some of the rarer Reddit NFTs have seen premium prices on secondary NFT marketplaces such as OpenSea with some of the most expensive selling for over $300, while the platform’s own marketplace sees prices of around $50.

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