Esentry Reports Nigeria's Cyberattacks Exceed 4,700 Weekly

According to a report by cybersecurity firm Esentry, Nigeria is experiencing over 4,700 cyberattacks weekly, with West Africa losing more than N1 billion to fraud from January to June 2026. The report highlights that conventional security tools failed to detect three significant fraud incidents, which were only uncovered through audits and customer complaints.

Gbolabo Awelewa, Esentry's chief officer, noted that cybercriminals are shifting tactics, moving away from exploiting software vulnerabilities to manipulating trust within systems. They are utilizing AI-enabled workflows and operating through recognized platforms to evade detection.

During the first quarter of 2026, approximately 281,500 Nigerian accounts were compromised. Esentry processed over 3.5 million alerts, with confirmed threats escalating within a median of 11 minutes.

Despite a 51% drop in fraud losses from electronic payments in 2025, the ongoing expansion of digital financial services continues to create new vulnerabilities.