About this report
This research examines Nigeria’s cybersecurity and online fraud landscape from January 2025 to September 2026, focusing on how cyberattacks, digital fraud, weak security practices, and regulatory gaps are affecting the country’s growing technology and financial ecosystem. It distinguishes between cyberattacks, where criminals gain unauthorised access to systems, and fraud, where victims are manipulated into surrendering money or information.
A major finding is the scale of interconnected cyber risk, highlighted by the ByteToBreach attacks that reportedly affected five organisations within about three weeks. The report also identifies fraudulent investment platforms as a major threat, with the collapse of CBEX demonstrating how convincing online investment schemes can cause enormous financial losses. More than ten investment platforms were publicly flagged by regulators during the period.
The report further shows that digital payment fraud losses fell to ₦25.85 billion in 2025, although this followed an exceptional 2024 spike. It concludes that stronger cybersecurity coordination, effective regulation, improved identity, payment security, and greater public awareness are necessary to reduce Nigeria’s exposure to increasingly sophisticated cybercrime and fraud.
This report covers January 2025 - June 2026.
Report code TBI-2026-Q4.