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Nigerian Businesses Face 2,560 Cyber-Attacks Weekly, Says CSCS CEO

Kehinde Fajobi

Nigerian businesses endure an average of 2,560 cyber-attacks per week, according to Haruna Jalo-Waziri, Managing Director/CEO of CSCS Plc.

Speaking at the 2024 Cybersecurity Conference in Abuja, Jalo-Waziri highlighted the rising global threat of cybercrime, which is expected to cost the world economy over $10.5 trillion this year.

“Our businesses face an alarming average of 2,560 cyber-attacks each week,” Jalo-Waziri stated.

He stressed the need for swift and decisive action, noting that “cybersecurity is no longer just an IT issue; it is a national priority that affects our economic stability and public trust.”

Vice President Kashim Shettima, in a pre-recorded message, echoed these concerns.

“Cyber security is not just a technical issue, it is a fundamental ingredient of our economic stability and growth,” he said, urging action to protect Nigeria’s digital infrastructure.

The Director General of the Securities and Exchange Commission, Dr Emomotimi Agama, emphasised the role of Artificial Intelligence (AI) in combating cyber threats.

“AI-driven systems can enhance surveillance, detect fraud, and manage risk,” he noted, adding that the SEC is exploring AI technologies to safeguard investor interests.

National Security Adviser Mallam Nuhu Ribadu, represented by Saad Abubakar, stressed that organisations are now legally required to report cyber-attacks immediately.

Ribadu also pointed to the growing danger posed by AI-enabled attacks, assuring that the government is working to strengthen defences through the 2024 CNII Executive Order.

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