Companies in Nigeria are being targeted not just by rivals or challenging market conditions, but also by cyber threats that they could not anticipate. Most firms are unaware of their vulnerability until it is too late. A leaked customer database, a defaced company website, or the unavailability of vital systems needed for business operations can affect business performance and even cost them their reputation, revenue, and customer trust. We want to believe that hackers exclusively target large corporations, such as banks, telecommunications companies, and government institutions, but no one is immune. Every firm, either established or a startup, is a target of cyberattacks.
What makes the situation even more detrimental is how unprepared many Nigerian firms are. According to Deloitte’s Cybersecurity Outlook 2025, 67% of firms worldwide, including those in Nigeria, operate without adequate cybersecurity readiness. This report is accurate because many employees continue to use personal email addresses for official correspondence and also use business emails for personal use. The is prevalence of using unsecured practices such as accessing and saving confidential business data and customer information in unprotected or unapproved mobile devices and computer devices without any encryption software employed or remote wipe features enabled if devices are stolen. Also, passwords and other important documents are shared on WhatsApp due to easy accessibility, and many software remain unpatched. Meanwhile, attackers have advanced significantly, deploying AI-powered scams, cloning websites, launching malware attacks, and phishing scams. Many of these losses can be avoided with proper cybersecurity measures in place. However, too often, organizations see cybersecurity as an afterthought, something to be concerned about only after a breach occurs.
I know that cybersecurity tools are expensive to acquire, as well as hiring experienced professionals. However, in today’s society, they are not a luxury, but a necessity for any company that takes priority in the confidentiality, integrity, and availability of both their data and systems. Basic security measures like having firewalls, antivirus software, endpoint detection, multi-factor authentication, data encryption, intrusion detection software, intrusion prevention software, and frequent system backups might be the difference between a minor incident and a major security breach. These technologies, coupled with cybersecurity professionals, enable organisations to detect attacks early, protect sensitive data, and reduce the chance of a major cybersecurity breach.
Moreso, the majority of cyberattacks begin with individuals rather than technical hacking techniques. A phishing email that appears to be legitimate requests some actions to click on some malicious links or a phone call appearing to be from the IT department or manager requesting a password reset or disclosure of some business-protected data. If employees are not provided with appropriate security awareness training to recognise these malicious techniques by attackers, they risk compromising the security of the business enterprises, irrespective of the millions of naira invested in modern security tools. Businesses that neglect cybersecurity usually pay much more in the wake of a breach. Companies without backup of vital data face even more difficulty in continuing business operations or recovering from a security breach, whether major or minor. A lot of revenue is also lost due to the loss of trust from investors, business partners, or customers.
Taking a step forward, the Nigerian Data Protection Act is a laudable progress made by the Nigerian government in bringing accountability to business organizations and firms operating within the country. It is no longer just about protecting your business operations; it’s also about remaining compliant with established standards and policies. Failure to remain compliant can result in millions of naira in fines and loss of business licenses. Businesses in the country need to invest in funding homegrown research and development programs to create cybersecurity tools tailored to the Nigerian market and tech industry. Instead of relying solely on foreign software, which usually costs thousands of dollars in purchase, licensing, and support, businesses can encourage local talent to develop cost-effective cybersecurity solutions. This not only lowers long-term costs but also strengthens the country’s digital independence and creates jobs in the tech ecosystem.
In a world where cyber threats have become prevalent, neglecting cybersecurity is no longer an option. Nigerian firms need to decide whether to invest in hardening their security or sit back and wait for the next security breach. I hope it is the former and not the latter.
.Adesola is a Security+ expert
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