Cyberthreat remains growing concern for businesses – Report

Businesses in Nigeria have raised an alarm about the growing threat of cyberattacks on their businesses.

According to Equinix, cyberattacks, security breaches, and data leaks are the most feared. This was revealed in Equinix 2022 Global Tech Trends Survey. It said, “There remain significant concerns around cybersecurity in Nigeria.

“Ensuring expansions are supported by resilient digital models is business-critical, particularly at a time of increasing volatility and emerging global threats.  As part of their digital-first strategies, 85 per cent of respondents in Nigeria confirmed a key priority is improving cybersecurity.

“88 per cent said complying with local market data regulations is critical, while 85 per cent highlighted the need to futureproof their businesses. According to IT specialists in Nigeria, the most feared threats were cyberattacks (73 per cent), security breaches and data leaks (68 per cent).

The report also revealed that 54 per cent of its Nigerian respondents were planning to expand in an existing country in the next 12 months, 34 per cent into a new region, and 33 per cent into a new country. It also stated that 93 per cent of IT leaders in the country said enhancing customer experience was a priority for them.

Commenting on the report, the Managing Director, MainOne, an Equinix company, Funke Opeke, said, “The acceleration in digital transformation in Nigeria reinforces the need for businesses to have access to single points to interconnect locally.

“Increased speed of connectivity, increased flexibility of connectivity, and reduced cost of connectivity were identified by IT decision-makers in Nigeria as the most beneficial aspects of interconnection.  MainOne provides a rich interconnection ecosystem that allows customers to connect to each other multiple telecoms networks, and Cloud, Payment and Content Providers in a single location.”

According to the report, businesses in the country are faced with concerns and challenges in supply chain and staff retention and recruitment.

It stated, “Despite having one of the youngest populations and workforces in the world, 58 per cent of IT decision-makers in Nigeria view a shortage of personnel with IT skills as one of the main threats to their business.”

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