According to a report by the Cyber Security Experts Association of Nigeria (CSEAN), Nigeria’s cybersecurity landscape is increasingly at risk as Cryptocurrency Scams and AI-powered attacks are poised to shape the country’s challenges in 2025. The 21-page document, titled Nigeria Cyber Threat Forecast 2025, outlines various threats, including counterfeit Cryptocurrency exchanges, Ponzi schemes, and frauds on Social Media platforms. These scams are anticipated to target inexperienced investors, leading to significant financial losses. Particularly vulnerable are individuals with limited knowledge of digital currencies, who could be most affected by these malicious activities.
Also, the report highlights an increasing reliance on AI-driven tactics in cybercrime, with cybercriminals deploying technologies like deep fakes to conduct social engineering, phishing attacks, and various forms of fraud, including romance scams and sextortion. These advanced methods pose significant risks to both individuals and businesses, making them top priorities for cybersecurity efforts. In addition to these emerging threats, the report further highlights the dangers posed by data breaches, insider risks, and advanced persistent threats that specifically target critical infrastructure. Given the rising sophistication of these cyber threats, the report calls for immediate action from the government, businesses, and Civil Society to strengthen defences and mitigate potential damage.
Weak enforcement and skill shortage hinder cybersecurity progress.
One of the key barriers to addressing Nigeria’s cybersecurity challenges is the weak enforcement of the Nigeria Cybercrime Act 2024. Despite its enactment, the law’s inconsistent implementation creates loopholes that cybercriminals exploit, weakening the country’s digital defences. Additionally, the shortage of skilled cybersecurity professionals, worsened by the “Japa” phenomenon, where trained individuals emigrate for better opportunities, further undermines efforts to secure Nigeria’s digital landscape. This lack of expertise is expected to be a significant obstacle, leaving the country vulnerable to rising cyber threats.
In response, CSEAN President Ade Shoyinka called the “Nigeria Cyber Threat Forecast 2025” a vital reminder for stakeholders to adopt a proactive cybersecurity approach. He warned that failing to act quickly could harm the Digital Economy and erode public trust. As a result, the report urged businesses to invest in AI-driven threat detection, enhance employee training, and strengthen KYC protocols, particularly in fintech. It also called for stricter enforcement of cybercrime laws, more cybersecurity investment, and international collaboration. Additionally, it emphasised addressing economic factors behind the emigration of skilled professionals and launching public awareness campaigns to promote cybersecurity accountability.
Failure to address cyber threats could put digital economy at risk.
The recommendations come at a critical time for Nigeria’s cybersecurity preparedness. While progress has been made in strengthening the country’s digital infrastructure, the rapidly evolving nature of cyber threats demands a more proactive approach. As digital technologies expand across various sectors, so do the risks, with AI-powered attacks, cryptocurrency scams, and social engineering tactics becoming more prevalent. Addressing these threats requires a coordinated response from the government, businesses, and the public. If left unaddressed, the consequences could extend beyond Disruption to the digital Economy and public trust, jeopardising national security, stalling technological innovation, and deterring foreign investment.
Furthermore, the situation highlights the need for a broader strategy, focusing not only on technical safeguards but also on raising awareness of digital security. Cybersecurity is no longer just the responsibility of IT professionals; it must be embedded in society. Vulnerable groups, such as the elderly and those with limited digital literacy, need better Education and resources to avoid emerging scams. The government and Private Sector must invest in public education and awareness campaigns to help citizens recognise and protect themselves against cyber threats. A well-informed public is the first line of defence.
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As Nigeria faces growing cybersecurity challenges, securing critical Infrastructure must be a top priority by the government. Sectors such as banking, telecommunications, and healthcare are vital to the economy, and any disruption could have severe consequences. Strengthening defences in these areas is crucial for National Security and protecting livelihoods. To safeguard Nigeria’s future, both the government and private sector must invest in robust cybersecurity measures to ensure the resilience of critical infrastructure against increasing cyber threats.