The Cyber Security Experts Association of Nigeria has released a report highlighting the significant risks facing Nigeria’s digital ecosystem in 2025. According to the report titled Nigeria Cyber Threat Forecast 2025, cryptocurrency scams and AI-powered cyberattacks are expected to dominate the country’s cybersecurity landscape.
One of the key findings of the report is the surge in cryptocurrency-related scams, driven by the increasing value of cryptocurrencies and the presence of inexperienced investors in the market. The report warns that social media scams, Ponzi schemes, and fake cryptocurrency exchanges will target vulnerable individuals, leading to substantial financial losses.
In addition to cryptocurrency scams, the report also predicts a rise in AI-powered cyberattacks. Cybercriminals are expected to use deep fakes and other AI-generated content for phishing, social engineering, romance scams, and sextortion. These sophisticated tactics aim to exploit trust and manipulate public opinion, posing serious risks to individuals and businesses.
The report also identifies other threats that are likely to intensify in 2025, including insider risks, data breaches, exploitation of unlinked fintech accounts, and advanced persistent threats targeting critical infrastructure. Weak enforcement of the amended Nigeria Cybercrime Act 2024 is cited as a significant barrier to addressing these challenges.
Furthermore, the report highlights the shortage of cybersecurity professionals in Nigeria, which is exacerbated by the “Japa” phenomenon – a trend of emigration among skilled professionals. Ade Shoyinka, President of CSEAN, emphasizes the need for proactive and unified action to strengthen Nigeria’s digital resilience.
To address these cybersecurity challenges, the report calls on businesses to invest in AI-driven threat detection systems and prioritize continuous employee training to mitigate insider threats. Regulators and financial institutions are advised to tighten Know-Your-Customer protocols to reduce vulnerabilities in fintech operations.
Policy makers are encouraged to strengthen the enforcement of cyber crime laws, allocate more resources for cybersecurity tools, and collaborate with international partners to combat transnational cyber crimes. The report stresses the importance of addressing economic conditions that contribute to the emigration of skilled professionals and calls for public education campaigns to promote cybersecurity awareness.
In conclusion, the report serves as a call to action for all stakeholders to work together to address the emerging cybersecurity threats facing Nigeria. Failure to take decisive action could disrupt the country’s digital infrastructure, undermine public trust, and hinder economic growth. It is crucial for Nigeria to take proactive steps to enhance its digital resilience and protect its citizens in an increasingly interconnected world.