Nigeria: Technology

Nigeria's FinTech and cryptocurrency sectors face intensified regulatory scrutiny as the Central Bank of Nigeria and Securities and Exchange Commission adopt assertive enforcement measures, leading to licence revocations and operational restrictions. How are these regulatory pressures reshaping the digital asset landscape, and what dispute resolution mechanisms are emerging to address conflicts in this evolving ecosystem?

Digital infrastructure has become critical national infrastructure in Nigeria, forming the backbone of modern governance, financial services, and economic coordination. As the country digitises public services and its economy grows increasingly dependent on interconnected platforms, questions arise about the reliability, resilience, and security of these systems.

• NITDA has warned organisations and individuals about a new AI-powered malware, “Deep Load,” currently targeting entities across Nigeria. The agency noted that the malware is designed to steal sensitive information, evade traditional antivirus systems, and maintain persistent access to infected devices. The advisory underscores the need for stronger cybersecurity compliance measures, including staff awareness, multi-factor authentication, secure password practices, monitoring of suspicious activities, and prompt incident response procedures.