Cybersecurity experts have called for some form of regulations that will make organisations report cyber attacks, stressing that underreporting of cyber attacks is one of the major challenges hindering the fight against cyber threats in Nigeria.
Founder, Lynsec Cybersecurity Solution, Mr. Remi Afon, who spoke at the Nigeria 2023 Cybersecurity Perspective, a webinar organised by ISC Nigeria Chapter, argued that there is a lack of transparency in reporting cybersecurity breaches.
This, according to him has remained a significant challenge.
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 would 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, 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, Executive Chairman, Consultancy Support Services Limited, Abdul-Hakeem Ajijola, 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 organided to create some forms of awareness and cybersecurity readiness for individuals, corporate organisations and the government.