Emmanuel OchayiNigeria Among Top Targets for Cyberthreats
Cyberthreats are on the rise in Africa, with Nigeria facing an alarming 4,718 weekly cyberattacks, according to Check Point Software Technologies. The company’s 2024 African Perspectives on Cyber Security Report, released Thursday, highlights the growing vulnerability of the continent’s digital infrastructure.
Lionel Dartnall, acting Country Manager for South Africa at Check Point Software Technologies, explained, “The rapid digitalisation of Africa’s key sectors has positioned the continent as a prime target for sophisticated cyber threats.”
Join our WhatsApp ChannelFinancial Institutions in the Crosshairs
In Nigeria, financial institutions are among the most targeted sectors. A recent banking trojan attack reportedly compromised 100,000 customer accounts, resulting in $3 million in losses. The Nigeria Inter-Bank Settlement System (NIBSS) revealed that between 2019 and 2023, fraudsters scammed over 80,658 bank customers, causing financial losses of N59.33 billion.
The Federal Government has issued 33 advisories in the past year, a record number, in response to the growing wave of cyberattacks.
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Other African Nations Face Similar Cyberthreats
While Nigeria is a focal point, other African countries are also grappling with severe cyberthreats.
- South Africa: Reports 3,312 weekly attacks on government entities and a 90% surge in ransomware incidents, costing nearly 1% of its GDP.
- Kenya: Faces an almost identical weekly attack rate as Nigeria, with 4,719 incidents.
- Morocco: Records the highest attack frequency on the continent, with 8,733 weekly incidents.
“Africa’s economic growth, driven by digital infrastructure, has also brought increased vulnerability,” Dartnall stated.
Urgent Need for Public-Private Collaboration
Despite the increasing risks, cybersecurity investment in Africa remains low. African companies allocate just 0.05% of their revenue to cybersecurity, far below the global average of 0.3–0.5%.
Issam El Haddioui, Head of Security Sales Engineering for Africa at Check Point Software Technologies, stressed the urgency of boosting cyber defenses. “Now is the time for African organizations to take proactive steps to align with global standards and bolster their cybersecurity resilience,” he said.
The report recommends investing in AI-driven threat detection, continuous monitoring, and robust public-private partnerships to combat rising cyberthreats.
Cyberthreats are not just an African issue but a global one. However, Africa’s rising attack numbers, fueled by rapid digital growth, require immediate attention. Experts emphasize that stronger cybersecurity measures and strategic collaboration are key to protecting critical sectors across the continent.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
