A Critical Analysis of Cybersecurity in Nigeria and the Incidents of Cyber-Attacks on Businesses/Companies
Author | : Bamidele Ikusika |
Publisher | : |
Total Pages | : 0 |
Release | : 2022 |
ISBN-10 | : OCLC:1375383640 |
ISBN-13 | : |
Rating | : 4/5 (40 Downloads) |
Download or read book A Critical Analysis of Cybersecurity in Nigeria and the Incidents of Cyber-Attacks on Businesses/Companies written by Bamidele Ikusika and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of cybersecurity has been heightened in recent years due to the increased reliance on technology and the internet. Individuals, businesses, organizations, and governments are all potential targets of cyberattacks. Evidence suggests, for instance, that 71% of Nigerian organizations suffered cyber-attacks in 2021, with 44% of these organizations paying an average cost of $3.43 million as ransom to protect their business and secure sensitive data. Globally, the total cost of cybercrime is projected at $10.5 trillion by 2025. This is indicative of the growing importance of cybersecurity and the need for laws that will help protect against cyber threats or attacks. This article provides an overview of the nature and significance of cybersecurity to businesses especially. It discusses the various cybersecurity laws that have been enacted in Nigeria, as well as the incidents of cyber attacks on businesses/companies within the country. Given the challenges associated with cybersecurity, the article recommends certain measures that should be put in place in order to better protect businesses against cyber attacks and improve cybersecurity (law) in Nigeria generally.