Report: Nigeria Records Over 18,000 Cyber Attacks Each Month

Nigeria is facing an alarming surge in cyber threats, recording an average of 18,872 cyberattacks monthly, a statistic that underscores the growing cybersecurity challenges the country faces as it becomes a significant digital hub in Africa. This surge places Nigeria among the top targets for cybercriminals on the continent. According to the 2024 African Perspectives on Cyber Security Report by Check Point Software Technologies, Nigeria’s vulnerability to cyber threats is highlighted by the fact that it experiences 4,718 cyberattacks on a weekly basis. This alarming increase is tied to the country’s rapid digital transformation, as more Nigerians come online, expanding the attack surface for cybercriminals.

In July 2024, Nigeria ranked 19th globally for the number of cyberattacks recorded, a sharp rise from previous years. As the country continues to embrace the digital era, the potential for exposure to cyber risks has grown significantly. Digitalisation across various sectors—finance, government, education, and healthcare—has brought immense benefits to the country, but it has also opened new vulnerabilities that hackers are eager to exploit. The combination of rapid technological advancement and the lack of robust cybersecurity measures has made Nigeria one of the most targeted countries in Africa for cyber threats.

The Nigerian government has been on high alert, responding to this growing wave of cybercrime by issuing at least 33 advisories related to cyberattacks over the past year—marking a record number of advisories in a single year. These advisories are a testament to the rising frequency and complexity of cyber threats facing the country. In addition to these warnings, Nigeria has been grappling with incidents that highlight the gravity of the situation. One such event involved a banking trojan attack that compromised 100,000 customer accounts, leading to an estimated $3 million in losses.

The financial sector, in particular, has borne the brunt of these cyberattacks. The Nigeria Inter-Bank Settlement System (NIBSS) reported that in 2023 alone, over 80,000 bank customers were successfully scammed by fraudsters, and the total loss to Nigerian banks and their customers over the past five years reached a staggering N59.33 billion. This situation is exacerbated by the increasing sophistication of cybercriminals, who have developed more advanced tools and tactics to breach the country’s financial infrastructure, undermining trust in the banking sector.

Lionel Dartnall, acting country manager for South Africa at Check Point Software Technologies, stated, “The rapid digitalisation of Africa’s key sectors has positioned the continent as a prime target for sophisticated cyber threats.” As Nigeria’s digital economy expands, so too does its exposure to cyber risks. But Nigeria is not alone in this struggle. Other African nations such as South Africa, Kenya, and Morocco are also facing a growing number of cyberattacks. These countries are experiencing similar challenges as their digital infrastructures grow, making them attractive targets for cybercriminals.

South Africa, for example, has seen a rise in cyberattacks targeting government entities, with over 3,300 weekly attacks, while ransomware incidents have surged by 90 percent. The cost of cybercrime in South Africa is substantial, with estimates suggesting that cybercrime accounts for nearly 1 percent of the country’s GDP. Kenya, another African nation facing cyber challenges, records 4,719 cyberattacks weekly, while Morocco, one of the most targeted countries on the continent, sees a staggering 8,733 weekly attacks.

The report from Check Point Software Technologies underscores the urgent need for organizations across Africa to strengthen their cybersecurity defences. The growing frequency and sophistication of cyberattacks emphasize the need for companies and governments to adopt more comprehensive and proactive measures. These measures should include robust security frameworks, AI-driven threat detection systems, and real-time monitoring to identify and mitigate emerging threats. Furthermore, the report calls for greater collaboration between the public and private sectors to develop strategies that can counter these rising cyber risks.

However, there is a significant disparity in cybersecurity investments across the continent. Despite the rising threats, many African companies allocate only 0.05 percent of their revenue to cybersecurity—far below the global average, which ranges between 0.3 and 0.5 percent. This gap in investment highlights the lack of resources and attention given to cybersecurity in many African nations, leaving critical sectors vulnerable to attacks.

Issam El Haddioui, Head of Security Sales Engineering for Africa at Check Point Software Technologies, emphasized that it is critical for African organizations to align with global cybersecurity standards. He stated, “Now is the time for African organisations to take proactive steps to align with global standards and bolster their cybersecurity resilience.”

This call to action comes as cybersecurity is no longer just a concern for businesses or government entities in Africa, but a national security issue that affects economies, public safety, and the future of digital infrastructure. The report further suggests that building a resilient cybersecurity posture will require not only technological upgrades but also a cultural shift in how African organizations approach cybersecurity. This includes prioritizing cybersecurity in the boardroom and ensuring that companies invest in continuous education and training for employees, as human error remains one of the most significant contributors to data breaches.

Africa’s rapid digital transformation presents both tremendous opportunities and daunting challenges. As more sectors across the continent rely on digital platforms for economic development, education, healthcare, and governance, the risk of cyberattacks grows. The potential impact of these threats on national security, financial systems, and critical infrastructure makes it imperative for African governments and businesses to act decisively.

The rising cyber threat landscape in Africa calls for a united effort to tackle these challenges head-on. A combination of greater public-private collaboration, investments in cybersecurity technologies, adoption of global standards, and continuous training will be crucial to strengthening the continent’s resilience. African nations must act quickly to build a robust cybersecurity framework that can withstand the growing tide of cybercrime and secure their digital future. The battle against cyber threats is not just a technological challenge, but a strategic one that will determine the continent’s ability to thrive in the digital age.