Some cybersecurity experts have called for some form of regulations that will make organisations report cyberattacks, stressing that underreporting of cyberattacks is one of the major challenges hindering the fight against cyber threats in Nigeria.
Speaking at the Nigeria 2023 Cybersecurity Perspective, a webinar organized by ISC Nigeria Chapter, Mr. Remi Afon, Founder of Lynsec Cybersecurity Solution, argued that there is a lack of transparency in reporting cybersecurity breaches.
This, according to him has remained a significant challenge.
Mr. Remi Afon, who is the immediate past President of the Cyber Security Experts Association of Nigeria (CSEAN), also noted that while all the cybersecurity predictions of CSEAN came to pass, 2023 will continue to witness cyber-attacks owing largely to the huge adoption of Information Technology by government, corporate organisations and individuals.
According to him, the sector that will be most affected is financial institutions, especially Fintech, which he argued is not fully regulated. Thus, leaving many gaps for cyber criminals to thrive.
Other sectors that will be largely affected include the Small and Medium Enterprises, (SMEs), which he noted do not have the resources to fortify their cybersecurity defense and the academia, where many students leverage their infrastructure to launch attacks.
Listing some other challenges that Nigeria as a country and corporate organizations will experience in 2023, Mr. Afon said insider threats and lack of capacity in terms of cybersecurity personnel top the chart.
He believes that Nigeria will continue to suffer from what he described as JAPA syndrome, where many young Nigerians have left the country to get employment outside. “Nigeria doesn’t pay to appreciate skills so many young people will naturally go where they are well paid. So JAPA syndrome will continue to be a challenge,” he said.
Meanwhile, Abdul-Hakeem Ajijola, Executive Chairman, Consultancy Support Services Limited has advised the government and corporate organisations to develop the cybersecurity space in Nigeria, stressing that owing to the adoption of technology in every area of life, cybersecurity will continue to grow in leap and bound.
“Nigeria needs to develop its cybersecurity space by enhancing the incidence response plan, build cyber defense capability and legal processes as the cybersecurity market in Africa is around $ 3.5-4.6 million dollars,” he advised.
The Nigeria 2023 Cybersecurity Perspective was organized to create some forms of awareness and cybersecurity readiness for individuals, corporate organizations and the government.