Cyberattacks: Experts Say Nigeria’s Digital Economy At Risk
Nigeria's digital economy is at risk due to a surge in sophisticated cyberattacks targeting financial systems and public institutions. Experts warn that the country's cybersecurity ecosystem needs a comprehensive review to prevent further breaches.
Nigeria is facing a surge in sophisticated cyberattacks targeting its financial systems and public institutions, putting its digital economy at risk. Recent hacks have exposed weaknesses in the sector, with criminals breaching data security at institutions such as the Corporate Affairs Commission and Sterling Bank. Experts stress that the country's rapid digital transformation demands stronger data governance and privacy culture. Cybersecurity expert Adewale Odunsi notes that recent breaches indicate a shift to coordinated operations targeting critical infrastructure. To prevent further breaches, experts recommend end-to-end data encryption, continuous vulnerability assessment, and API rate limiting. Nigeria must prioritize robust safeguards for businesses to participate safely in the global digital economy.
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