The Federal Government of Nigeria has announced plans to implement a comprehensive cybersecurity framework this year aimed at tackling the surge in AI-driven cyberattacks targeting banks, businesses, and government agencies. Kashifu Inuwa Abdullahi, Director-General of the National Information Technology Development Agency (NITDA), said the framework will set minimum cybersecurity standards and require organizations to invest adequately in protecting their digital infrastructure.
The move comes as Nigeria’s rapid digital transformation in finance and public services has outpaced existing cyber defenses, leaving institutions vulnerable to sophisticated attacks. Abdullahi explained that many companies currently underinvest in cybersecurity, often assuming they are unlikely targets, despite growing threats. The new framework will also enforce mandatory timelines for reporting breaches and establish systems for sharing threat intelligence between public and private sectors.
Globally, regulators are moving toward stricter cybersecurity rules, and Nigeria is following suit. With a booming digital economy and major fintech companies like Flutterwave and OPay, the country’s exposure to cybercrime has grown. A 2025 United Nations report estimates that Nigeria lost around N1.1 trillion to cybercrime between 2017 and 2023, a figure expected to rise as AI-powered attacks and cryptocurrency-related crimes increase.
Experts warn that AI is accelerating the scale and sophistication of cyber threats. Lanre Ogungbe, CEO of cybersecurity firm Prembly, said AI-driven attacks surged 150% in Nigeria’s financial sector last year, enabling hackers to craft personalized phishing messages and identify high-value targets with precision. Deloitte also noted that ransomware and phishing campaigns are expected to rise as more financial and government services move online, making rapid-response cybersecurity protocols critical.
The Nigerian government has taken steps in recent years to strengthen cyber defenses, including the 2021 National Cybersecurity Policy and Strategy and sector-specific regulations from the Central Bank and Nigerian Communications Commission. While the new framework is expected to tighten operational requirements and improve coordination between agencies, it also signals a broader recognition that Nigeria’s growing digital economy must be protected from increasingly sophisticated AI-powered cyber threats.
source: nairametrics