The Cause
According to a Nigerian security analyst and executive director of the Cybersafe Foundation, many organisations in developed countries communicate when they have cases of cyber attacks, which encourages cyber-resilience and widespread incident response. Unfortunately, it is the opposite for Nigeria, wherein a lot of organisations absolutely deny the occurrence of cyber attacks and data breach incidents, even with the presence of evidence. In August 2020, two significant Nigerian banks were said to have experienced data breaches, exposing the financial information of their clients. A few days later, neither bank reacted, and when they did, their press statements were evasive, neither denying nor acknowledging the existence of any data breach
By failing to communicate, these organisations deprive their clients and other stakeholders of the knowledge they need to be able to protect themselves as well as the opportunity to offer anyone exposed to a potential breach useful advice. According to Staveley, poor cyber security practices and a lack of communication impair data protection and cyber security in Nigeria and foster a significant lack of competence
In Nigeria, security and protection are often not considered in IT infrastructure or data processing. Organisations are not even aware of the burden data collection carries. They don’t fully understand the importance of encryption and security in their pipelines because they don’t view the data they collect as something that needs to be secured. Data processing and gathering in Nigeria continue to be largely unmonitored, and security is frequently an afterthought. Sensitive information like addresses, phone numbers, financial information, and even identification numbers are requested in places where such information is unnecessary and is left available to anyone with enough curiosity to look up public records
This issue affects IT talent in general. Local businesses and organisations have found it more difficult to retain IT talent in recent years as remote work is slowly becoming the norm. This is because they have to compete with larger enterprises that can pay more and provide greater career opportunities. This is a serious issue, especially for new organisations. However, businesses and organisations with little to no worldwide potential, like Nigerian banks, are those most impacted. Nigeria boasts one of Africa’s greatest data protection and cyber security policies, yet these policies are not put into place
In Nigeria, particular flaws in the expanding usage of POS and electronic transactions are making a lot of people susceptible to situations that can occasionally result in financial loss. One of Nigeria’s most urgent cyber security problems, it will collectively account for more than 60% of financial crime in 2020. However, neither banking nor cyber security authorities have taken any action. Nigeria’s cyber security issue affects both public and private companies, but in public institutions, corruption, slowness, and bureaucracy can make matters worse. The intervals between contact, reaction, and action, as well as the absence of communication, reflect a careless approach to cyber security in Nigerian government agencies
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