February 26, 2024

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Cyber Attacks on SME Increases by 87%


CEM REPORT, ICT | Small and Medium Scale Enterprises (SMEs) received the most cyber attacks in 2022.

According to a report, phishing attacks on SMEs increased by 87% in 2022 compared to 37% in 2021.

A report prepared by the Cyber Security Expert Association of Nigeria (CSEAN) reveals that corporate phishing attempts increased in 2022, and data protection procedures and disclosures lagged.


The report, titled ‘Nigeria Cyber Threat Landscape 2022,’ was presented at the group’s two-day conference in Abuja.

“Part of the findings and key threat trends we discovered is that data protection policies enforcement and disclosure practices are grossly lagging; there is a surge in corporate phishing attacks.

“There is a rise of ransomware in the industrial control system environment, compromise of business emails, and malware such as Backdoor skyrocketed.”

The study, according to NAN, illuminates tendencies in cyber-attacks in 2022 and may offer insights into events that take place in that year.

The Director of Research and Development, CSEAN, John Odumesi commenting said that the study surveyed over 552 participants and also collated reports from online media and other cyber security reports.

He noted that individuals and organizations need to have a detailed cyber-security policy and an incident response plan.

“To combat cyber-attacks, we need to maintain a detailed cyber security policy; individuals and organizations should be email skeptic; organizations should develop an incident response plan.

“We also need to protect our systems, travel wisely on the internet, avoid password pitfalls, and engage the services of Cyber security experts.”

An earlier report by a cyber security firm, Sophos noted that 71 per cent of Nigerian firms were hit with ransomware in 2021, paying as much as $706,452 as ransom to cyber-criminals in 2021.

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