June 10, 2026
…But Mastercard’s fixing something
By Prince Osuagwu
Nigeria’s digital economy is expanding at an unprecedented rate. Electronic payment transactions crossed the N1 quadrillion mark in 2024, fintech adoption is accelerating, government services are moving online, and businesses are becoming increasingly digital. Yet, alongside this transformation is cybercrime, a growing threat that is quietly draining billions of naira from the economy.
The reality is stark. Every new digital service creates opportunities not only for innovation but also for cybercriminals. Banks, telecom operators, government agencies, oil companies, SMEs and ordinary citizens have all become targets.
