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Analysis of Emerging Cybersecurity Threats in Nigeria’s Financial Sector: Trends, Impacts, and Mitigation Strategies

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  • Destiny Young

    (Faculty of Natural and Applied Sciences, Department of Computer Science and Information Technology, Paul University, Awka, 420102, Anambra State, Nigeria)

Abstract

This research delves into the changing realm of cybersecurity risks, within the financial industry of Nigeria by analysing patterns of cyber threats and how they affect financial institutions. By utilising a blend of data analysis from documented cyber incidents and personal insights gathered from professionals in the field, the study uncovers weaknesses and new dangers on the horizon. The results indicate an uptick in cyber assaults; ransomware attacks, phishing schemes, and internal risks are now key focal points of apprehension within this sector. The research introduces an approach to bolster cybersecurity practises within the industry by highlighting the importance of strong technological systems and employee training and fostering collaboration across the industry landscape. It contributes knowledge to the expanding realm of literature on cybersecurity in developing nations and offers actionable guidance for officials and financial institutions in Nigeria.

Suggested Citation

  • Destiny Young, 2025. "Analysis of Emerging Cybersecurity Threats in Nigeria’s Financial Sector: Trends, Impacts, and Mitigation Strategies," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(7), pages 1094-1103, July.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-7:p:1094-1103
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    References listed on IDEAS

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    1. Alcaraz, Cristina & Zeadally, Sherali, 2015. "Critical infrastructure protection: Requirements and challenges for the 21st century," International Journal of Critical Infrastructure Protection, Elsevier, vol. 8(C), pages 53-66.
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