In the world today where the digital world is growing increasingly, cybersecurity has emerged as a critical concern for everybody in the nation, and it is common everywhere in the world.
As the world continues to embrace digital transformation, the importance of investing and securing its cyber infrastructure needs to be done. With internet usage on the rise and online services and transactions being done daily, Nigeria faces several cyber threats.
Nigeria has seen rapid growth in internet usage and digital services over the past decade. According to the Nigerian Communications Commission (NCC), internet penetration in the country reached over 50% by the end of 2023, with millions of Nigerians relying on digital platforms for communication, banking, commerce, and more. This digital shift has its benefits, but also exposes the masses to vulnerabilities in the cyber world.
The financial sector has been a target for cybercriminals, considering the higher numbers of digital transactions done in a day and online banking services out now for the citizens. E-commerce and small and medium-sized enterprises (SMEs) operating online have created new avenues for cyberattacks.
Some of the Cyber Threats Encountered in Nigeria
1. Data Breaches:
This involves unauthorised access to sensitive data online, leading to severe consequences for individuals and organisations. Data breaches can result in identity theft, fraud, and damage to one’s reputation. An example of that is hacking into someone’s social media handle.
2. Ransomware
This is where malicious software encrypts a victim’s data – it could be nude pictures on a person’s phone, incriminating videos or a company’s secret or projects, and then used to demand payment. This has become increasingly common. These attacks fold businesses, disrupt services, and result in loss of money.
3. Phishing Attacks
Phishing remains one of the most common and reoccurring cyber threats in Nigeria and around the world. Cybercriminals use deceptive emails, messages, calls or websites to trick individuals into revealing sensitive information like their BVN, ATM number and pin, and personal identification details.
4. Cyber Espionage
Cyber espionage involves the collection of confidential information from governments, individuals and businesses. This type of threat poses a significant risk to national security and economic stability.
Government Initiatives on Cybersecurity
The National Cybersecurity Policy and Strategy (NCPS) was launched to provide security in Nigeria’s cyberspace. The policy’s key objectives are to include the protection of critical information infrastructure and enhancing public awareness and education on cybersecurity issues.
The Cybercrimes (Prohibition, Prevention, etc.) Act of 2015 serves as the primary legal law for reducing cybercrime in Nigeria. The Act criminalises hacking, identity theft, and cyberstalking, and has also established penalties for offenders.
Nigerian Cybercrime Working Group (NCWG) coordinates the law enforcement agencies, regulatory bodies, and private sector entities to enhance cybersecurity in Nigeria.
Businesses in Nigeria should establish several cybersecurity policies and procedures, including regular software updates, encryption, and multi-factor authentication. Regular training programs for their staffs on recognising and responding to cyber threats and also partnering with cybersecurity firms and consultants can provide these businesses with specialised knowledge and resources to increase their cybersecurity.
Furthermore, teaching the entire masses what safe online practices are and what it entails. Creating strong passwords, avoiding suspicious links, and protecting personal information, can wade off some cyber-attacks.
In conclusion, as Nigeria continues to take the next step in the digital world and advance in technology, the importance of cybersecurity measures needs to be sounded.
Protection against online threats requires a collaborative effort of the masses, government, and businesses.
With all these stated above, Nigeria can strengthen and improve its cybersecurity, and give its citizens a safe haven digitally.
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