The Nigerian government has been cracking down on financial fraud and cybercrime, with over 1,000 arrests made in the past year and 152 successful prosecutions related to cyber-related fraud and scams. Recently, on Feb. 3, the Economic and Financial Crimes Commission (EFCC) in Nigeria arraigned 42 foreign nationals, mainly Chinese and Filipino, for alleged involvement in cryptocurrency investment and romance fraud. This was part of a massive raid conducted in December 2024 against a cybercriminal syndicate involving nearly 800 people.
According to an EFCC statement, the defendants were accused of accessing a computer system to destabilize Nigeria’s economic and social structure by engaging Nigerian youths in identity theft and other computer-related fraud. Cybercrime and cyberattacks are prevalent issues in Nigeria and Africa as a whole. Studies show that the average African organization experiences around 3,200 attacks per week, which is 73% higher than the global average. Africa has become a hotspot for cybercrime, with Ethiopia identified as the riskiest nation for cybercrime, followed by Nigeria at number 19.
Lionel Dartnall, acting country manager for South Africa at Check Point, attributes Africa’s vulnerability to cyber threats to the rapid adoption of technology without adequate security measures. The region’s expanding digital footprint and widespread use of cloud computing have made it a target for cyber attackers who often test new methods in Africa before deploying them globally.
The World Economic Forum’s “Global Cybersecurity Outlook 2025” report highlights that countries in the Global South, including Africa, Latin America, and South Asia, have the lowest number of organizations with cyber-resilience. In contrast, Europe and North America show more confidence in their ability to respond to cyber incidents. Despite facing cyber risks, African economies are among the fastest-growing globally, presenting both challenges and opportunities.
With only 20,000 qualified cybersecurity engineers in Africa, there is a significant need for more experts in the field to address the growing cyber threats. Check Point’s Dartnall emphasizes the importance of cybersecurity training, especially for young people, to close the skills gap and provide employment opportunities in the sector.
Nigeria, in particular, has been struggling with economic challenges, including high inflation, unemployment rates, and increasing debt. The government had to pause the implementation of a cybersecurity tax in 2024 due to public dissent. However, the country continues to experience a higher rate of cyber attacks compared to the global average, posing additional challenges in creating a trusted online ecosystem.
To combat cybercrime effectively, Nigeria is focusing on making cybersecurity jobs more enticing than engaging in illegal activities. The government is collaborating with organizations like the Student Union Executives and the Nigeria Internet Registration Association to enhance cybersecurity training and raise awareness about fraud. Law enforcement agencies have also intensified their efforts, leading to successful operations like Interpol’s Operation Jackal III, which targeted West African cybercriminals involved in financial fraud.
It is important to note that many cybercriminal schemes in Nigeria are orchestrated by foreign nationals. During a raid in December 2024, a significant number of non-Nigerian suspects were apprehended, including individuals from China, the Philippines, and other countries. The EFCC chairman, Ola Olukoyede, emphasized that there will be no safe haven for criminals in Nigeria, signaling a tough stance against cybercrime and fraud in the country.