The cybercrime landscape in Nigeria keeps getting volatile, with recent data showing that the West African country suffered an average of 6,101 cyberattacks every week in the month of July.
Reported by Check Point Research (CPR), the Threat Intelligence arm of Check Point Software Technologies, the figure represents a steep rise in cyberattacks in Nigeria, marking a 67% increase YoY (Year-on-Year). These staggering statistics warn of a growing digital security crisis for Nigeria as it rapidly expands its digital footprint.
The scale of the cyber threat currently confronting Nigeria dwarfs that of many other countries on the African continent as well as on the global average. While data shows that Africa collectively suffered an average of 3,374 attacks weekly per organization in the month of July, which is already a number 72% higher than the global average of 1,947, Nigeria’s weekly attack rate is nearly double the continental average.
Countries like Angola and Kenya were reported to have suffered 3,731 and 3,468 cyberattacks per week respectively, while South Africa suffered an average of 2,113 cyberattacks. Comparing this to the huge number of attacks faced by Nigerian businesses and citizens reveals the unique exposure and low protection against cyber risks across various sectors in the country.
According to CPR, targeted sectors in Nigeria include the Telecommunications sector, followed by the government and financial services, as well as the energy and utilities sector. These sectors are the lifeline of a country that boasts over 200 million citizens, which means cyberattacks this huge translates to many disruptions that ultimately affects economic stability and national security.
For instance, Nigerian banks alone have reported billions of naira lost to cyberattacks in recent years, with mobile banking channels recording an increasing number of exploits by cybercriminals. Beyond direct financial losses from these attacks, they also disrupt business operations, damage organizational reputations, and lead to costly recovery efforts.
According to data and estimates from Nigeria’s Consumer Awareness and Financial Enlightenment Initiative, unchecked cybercrime could cost the country about $6 trillion in the next five years.
It is important to note that several factors contribute to the escalating cyberthreats facing Nigeria today, one of which is the rapid digital transformation that has outpaced the country’s development of robust cybersecurity defenses. As such, Nigeria’s digital expansion, while creating new economic opportunities, brings about vulnerabilities that are easy for attackers to exploit.
This emphasizes the urgent need for AI-driven prevention strategies particularly tailored to Nigeria’s threat environment. “While Africa rapidly rolls out digital transformation strategies, its cybersecurity defences are lagging,” says Lorna Hardie, Regional Director for Africa, Check Point Software Technologies. “Prevention-first strategies, powered by AI, are the only way to stay ahead.”
Adding to this threat landscape is the growing prevalence of ransomware attacks. Globally, July saw a 41% increase in ransomware attacks YoY. Prominent ransomware groups include Qilin (otherwise known as Agenda), Inc. Ransom, and Akira.
