The recent disclosure by the Nigerian Central Securities Clearing System (CSCS) regarding the alarming rate of cyber-attacks in the country highlights a significant challenge facing businesses today. With an average of 2,560 cyber-attacks occurring each week, the urgency for enhanced cybersecurity measures cannot be overstated.
Cybercrime is projected to cost the global economy over $10.5 trillion this year, up from $3 trillion in previous years. A 45% increase in ransomware attacks globally emphasizes the need for proactive cybersecurity strategies.
Haruna Jalo-Waziri, Managing Director/CEO of CSCS, emphasized that cybersecurity is a national priority that affects economic stability and public trust. It’s not just an IT issue but requires a collective understanding and action.
The conference theme, “Cybersecurity: Synergizing Artificial Intelligence and Infrastructure,” reflects the importance of integrating advanced technologies to combat cyber threats effectively. Protecting critical infrastructure is paramount as reliance on digital systems increases.
Vice President Kashim Shettima’s remarks underscore the necessity of robust cybersecurity for economic growth and stability, indicating that it should be a fundamental consideration for all sectors.
This situation calls for collaborative efforts among businesses, government agencies, and cybersecurity experts to enhance defenses against the growing tide of cybercrime. Implementing comprehensive cybersecurity policies, training, and awareness programs can significantly mitigate risks and protect the economic interests of the nation.