Telecom
Ransomware Recovery Cost Reaches Nearly $2 Million- Sophos Survey Shows
Sophos, a global leader in next-generation cybersecurity, today announced the findings of its global survey, “The State of Ransomware 2021,” which reveals that the average total cost of recovery from a ransomware attack has more than doubled in a year, increasing from $761,106 in 2020 to $1.85 million in 2021.
The average ransom paid is $170,404. The global findings also show that only 8% of organizations managed to get back all of their data after paying a ransom, with 29% getting back no more than half of their data.
The survey polled 5,400 IT decision makers in mid-sized organizations in 30 countries across Europe, the Americas, Asia-Pacific and Central Asia, the Middle East, and Africa.
While the number of organizations that experienced a ransomware attack fell from 51% of respondents surveyed in 2020 to 37% in 2021, and fewer organizations suffered data encryption as the result of a significant attack (54% in 2021 compared to 73% in 2020), the new survey results reveal worrying upward trends, particularly in terms of the impact of a ransomware attack.
“The apparent decline in the number of organizations being hit by ransomware is good news, but it is tempered by the fact that this is likely to reflect, at least in part, changes in attacker behaviors,” said Chester Wisniewski, principal research scientist, Sophos. “We’ve seen attackers move from larger scale, generic, automated attacks to more targeted attacks that include human hands-on-keyboard hacking. While the overall number of attacks is lower as a result, our experience shows that the potential for damage from these more advanced and complex targeted attacks is much higher. Such attacks are also harder to recover from, and we see this reflected in the survey in the doubling of overall remediation costs.”
The main findings of the State of Ransomware 2021 global survey include:
· The average cost of remediating a ransomware attack more than doubled in the last 12 months. Remediation costs, including business downtime, lost orders, operational costs, and more, grew from an average of $761,106 in 2020 to $1.85 million in 2021. This means that the average cost of recovering from a ransomware attack is now 10 times the size of the ransom payment, on average
· The average ransom paid was $170,404. While $3.2 million was the highest payment out of those surveyed, the most common payment was $10,000. Ten organizations paid ransoms of $1 million or more
· The number of organizations that paid the ransom increased from 26% in 2020 to 32% in 2021, although fewer than one in 10 (8%) managed to get back all of their data
“The findings confirm the brutal truth that when it comes to ransomware, it doesn’t pay to pay. Despite more organizations opting to pay a ransom, only a tiny minority of those who paid got back all their data,” said Wisniewski.
“This could be in part because using decryption keys to recover information can be complicated. What’s more, there’s no guarantee of success. For instance, as we saw recently with DearCry and Black Kingdom ransomware, attacks launched with low quality or hastily compiled code and techniques can make data recovery difficult, if not impossible.”
· More than half (54%) of respondents believe cyberattacks are now too advanced for their IT team to handle on their own
· Extortion without encryption is on the rise. A small, but important 7% said that their data was not encrypted, but they were held to ransom anyway, possibly because the attackers had managed to steal their information. In 2020, this figure was 3%
“Recovering from a ransomware attack can take years and is about so much more than just decrypting and restoring data,” said Wisniewski. “Whole systems need to be rebuilt from the ground up and then there is the operational downtime and customer impact to consider, and much more. Further, the definition of what constitutes a ‘ransomware’ attack is evolving. For a small, but significant minority of respondents, the attacks involved payment demands without data encryption.
“This could be because they had anti-ransomware technologies in place to block the encryption stage or because the attackers simply chose not to encrypt the data. It is likely that the attackers were demanding payment in return for not leaking stolen information online. A recent example of this approach involved the Clop ransomware gang and a known financially-motivated threat actor hitting around a dozen alleged victims with extortion-only attacks.
“In short, it is more important than ever to protect against adversaries at the door, before they get a chance to take hold and unfold their increasingly multi-faceted attacks. Fortunately, if organizations are attacked, they don’t have to face this challenge alone. Support is available 24/7 in the form of external security operations centers, human-led threat hunting and incident response services.”
The main findings of the State of Ransomware 2021 for Nigeria:
· 22% of respondents from Nigeria had experienced a ransomware attack in the last 12 months, compared to 53% in 2020
· 39% of respondents from Nigeria that weren’t hit by ransomware in the last 12 months but expect to be hit in the future, believe that ransomware attacks are getting increasingly hard to stop due to their sophistication
· 26% of respondents from Nigeria that weren’t hit by ransomware in the last 12 months but expect to be hit in the future, say it is hard to stop their users from compromising the organization’s security
Sophos recommends the following six best practices to help defend against ransomware and related cyberattacks:
1. Assume you will be hit. Ransomware remains highly prevalent. No sector, country or organization size is immune from the risk. It’s better to be prepared, but not hit, rather than the other way round
2. Make backups and keep a copy offline. Backups are the main method organizations surveyed used to recover their data after an attack. Opt for the industry standard approach of 3:2:1 (three sets of backups, using two different media, one of which is kept offline)
3. Deploy layered protection. As more ransomware attacks also involve extortion, it is more important than ever to keep adversaries out in the first place. Use layered protection to block attackers at as many points as possible across an estate
4. Combine human experts and anti-ransomware technology. The key to stopping ransomware is defense in depth that combines dedicated anti-ransomware technology and human-led threat hunting. Technology provides the scale and automation an organization needs, while human experts are best able to detect the tell-tale tactics, techniques and procedures that indicate an attacker is attempting to get into the environment. If you don’t have the skills in house, look at enlisting the support of a specialist cybersecurity company – Security Operation Centers (SOCs) are now realistic options for organizations of all sizes
5. Don’t pay the ransom. Easy to say, but far less easy to do when an organization has ground to a halt due to a ransomware attack. Independent of any ethical considerations, paying the ransom is an ineffective way to get data back. If you do decide to pay, bear in mind that the adversaries will restore, on average, only two-thirds of your files
6. Have a malware recovery plan. The best way to stop a cyberattack from turning into a full breach is to prepare in advance. Organizations that fall victim to an attack often realize they could have avoided significant financial loss and disruption, if they had an incident response plan in place
The State of Ransomware 2021 survey report is available in full on Sophos.com.
The State of Ransomware 2021 survey was conducted by Vanson Bourne, an independent specialist in market research, in January and February 2021. The survey interviewed 5,400 IT decision makers in 30 countries, in the US, Canada, Brazil, Chile, Colombia, Mexico, Austria, France, Germany, the UK, Italy, the Netherlands, Belgium, Spain, Sweden, Switzerland, Poland, the Czech Republic, Turkey, Israel, UAE, Saudi Arabia, India, Nigeria, South Africa, Australia, Japan, Singapore, Malaysia, and the Philippines. All respondents were from organizations with between 100 and 5,000 employees.
Sophos Intercept X protects users by detecting the actions and behaviors of ransomware and other attacks.
Telecom
COUCH 2025 Grand Finale Highlights Student Breakthroughs, Secures Government Pledge for University Research Commercialization
Coderina Education and Technology Foundation, in partnership with the National Universities Commission (NUC), successfully hosted the Grand Finale of the Coderina University Challenge (COUCH) 2025 at the NUC Auditorium, Abuja.
A cross section of attendees
The event gathered top government officials, university leaders, industry partners, and the ten finalist teams selected from over sixty-two initial entries nationwide.
This year’s challenge, themed “Circular Economy Through Technology” spotlighted the potential of Nigerian university students to develop scalable, tech-enabled solutions that address pressing national issues in sustainability, waste management, energy transition, and the circular economy.
The Grand Finale reaffirmed a consistent message shared across all keynote addresses: Nigeria must accelerate the movement of university research from shelves into practical innovation, commercialization, and industry adoption, a key driver of national development and economic growth.
In his opening address, Mr. Olufemi Niyi, chairman, Coderina Board of Directors, emphasized that university projects must not remain buried in archives.
He highlighted COUCH as a platform proving that research can become functional innovation.
Mr. Niyi called on donors, development partners, and private sector stakeholders to support COUCH as a sustainable national innovation pipeline and encouraged investors to channel resources into skills development and technology innovation among youth.
In his keynote address, Dr. Kingsley Tochukwu, the minister of Innovation, Science and Technology, commended the COUCH programme for its role in moving research “from the shelves to the marketplace,” a key priority under the ministry’s national innovation agenda.
He noted that the initiative exemplifies the type of collaboration and commercialization pipeline needed to unlock Nigeria’s scientific and technological potential.
He highlighted several priority areas critical to advancing the country’s innovation landscape:
“Strengthening Nigeria’s innovation ecosystem through coordinated national frameworks and partnerships; expanding digital innovation pathways to accelerate the adoption of emerging technologies, and building a tech-driven economy that delivers measurable value and global competitiveness”.
The Minister added that “Creating new opportunities for youth innovators, ensuring they are empowered to participate in and drive the innovation economy, are part of the key focus areas of the Ministry
He also expressed the Ministry’s readiness to partner with COUCH, Coderina, and the NUC to incubate and scale these student-led innovations.
Mallam Abdullahi Yusuf Ribadu, the executive secretary of NUC acknowledged the twelve universities nominated for the pilot edition by the commission.
He urged the finalists to use their prize money to advance entrepreneurship and technical skill development, reinforcing the NUC’s commitment to fostering innovation-driven learning across tertiary institutions.
In a remarkable commitment, the Minister donated five million naira to ‘Waste2Light’ from FUT Minna and announced an intention to collaborate with all ten finalist universities to support commercialization.
Dr. Tope Kolade Fasua, special address to the President on Economic Affairs, stated that technology remains the largest driver of global economic growth, stressing that Nigeria’s economic transformation is intertwined with youth innovation.
He commended Coderina and advised for greater visibility and national media outreach; creation of an innovation “museum or archive” for brilliant ideas, and the establishment of centers where theories and research can be turned into products.
He concluded that the future of Nigeria’s economy lies in the hands of today’s young innovators.
Professor Sa’adatu Hassan Liman, special guest at the programme and vice-chancellor, Nasarawa State University, delivering her address on “Sustainable National Transformation,” emphasized the need for stronger industry–university collaborations.
She also emphasized need for entrepreneurial university culture; digital literacy in emerging technologies such as AI, blockchain, IoT; adoption of virtual learning and remote laboratories, and inclusive innovation for underserved communities.
She highlighted AI as a catalyst for reimagining teaching and learning, including teacher retraining and curriculum enhancement.
The competition had two categories of prizes recognizing both technical excellence and public engagement.
Winners of the first category, The Challenge, based on pitch and prototype presentation was Team IMSU – Imo State University , taking home the star prize of ₦5,000,000; 2nd Place winners: Team Neuronaut Nile University Prize, ₦2,500,000, and 3rd Place – Team Waste2light from the Federal University of Technology, Minna: ₦1,500,000.
The People’s Choice Awards winners, based on social media engagement and public voting, are Team ADSU Innovators – Adamawa State Uni.: ₦250,000; 2nd Place -Team Scraplink, Lagos State University: ₦150,000, and 3rd place – Team Circle from the Federal University of Technology, Akure, took home ₦100,000.
Giving COUCH overview, Ms. Christiana Anthony, the Project Lead, reaffirmed that COUCH is not merely a competition but a structured innovation development program.
She highlighted the strong collaboration between Coderina and the NUC, noting that the program has created a national pathway for students to design, build, test, and pitch solutions with real potential for commercialization.
The COUCH 2025 grand finale demonstrated Nigeria’s readiness to harness university-driven innovation as a catalyst for economic growth, job creation, and sustainable development.
Google.org has announced a $2.1 million (₦3 billion) investment to support Nigeria’s artificial intelligence sector, targeting the creation of one million digital jobs and strengthening the country’s growing tech economy.
The initiative is aligned with Nigeria’s National AI Strategy and is expected to contribute significantly to the nation’s digital transformation, with AI projected to add $15 billion to the economy by 2030.
The funding will support partnerships with local organizations focused on skills development and cybersecurity.
FATE Foundation and the African Institute for Mathematical Sciences (AIMS) will collaborate with universities to integrate AI curriculum into classroom teaching, creating a sustainable pipeline of AI-ready graduates.
Similarly, the African Technology Forum (ATF) will run an AI innovation challenge, guiding developers from bootcamp training through product development and pitching stages.
Google also emphasized digital safety. Junior Achievement Africa will scale the “Be Internet Awesome” curriculum to teach online safety to youth, parents, and teachers nationwide, while the CyberSafe Foundation will provide cybersecurity training and technical support to public institutions to strengthen digital infrastructure defenses.
Highlighting the human impact of its digital skills programs, Google cited the case of Joel Kiate, a digital marketer in Abuja, who secured employment after completing Google’s training despite failing university entrance exams five times.
A Google spokesperson said: “When we connect people with the right tools and opportunities, they don’t just find jobs—they build careers and become part of Nigeria’s growing digital economy.”
The investment reflects growing confidence in Nigeria’s tech sector, which continues to position itself as a major hub for digital innovation in Africa.
As Team OneGrid Energies walked away with the grand prize of three million naira and an HP laptop each at the MTN 2025 PachiPanda Challenge, the strongest message from the closing ceremony held on Wednesday, November 26, 2025, was not just about winning ideas, but about building ideas that pay.
OneGrid Energies
Tobechukwu Okigbo, Chief Corporate Services & Sustainability Officer at MTN Nigeria, delivered a powerful charge to the next generation of African climate innovators. He said, “Too often we celebrate innovation only for its brilliance. Today I challenge you to go further and create bankable innovation. Look around you, find the problems that need solutions, and solve them with boldness. The future belongs to you, and Africa is counting on you all to rise and deliver the change we have been waiting for.”
Okigbo reminded the finalists that Africa’s greatest asset is its youth, and that digital tools, from AI to the internet, have levelled the global playing field. “The future is yours,” he declared. “You are the leaders of tomorrow and with the necessary tools and boldness, you have the platform to rise and rewrite Africa’s story.”
The winning solution by OneGrid Energies, a scalable platform providing smallholder farmers with hyper-localised climate data and optimised planting advice, was hailed as a perfect example of innovation that can both save livelihoods and create viable business models.
Joshua Ndaman secured second place with his innovative solution, BuyScrap, a tech-driven platform that streamlines the collection and recycling of electronic waste. By ensuring that discarded electronics are ethically reused and repurposed, BuyScrap supports a circular economy and provides a reliable link between households and processors in the e-waste value chain.
Representing Dr. Joseph Daniel Onaja, Director General, Nigerian Conservative Foundation, Uchenna Achunine, Director, Business Development and Communications, Nigerian Conservation Foundation, congratulated the winners and commended their efforts in the two-day, intense pitch hosted by MTN Nigeria in partnership with WWF, the three-day PachiPanda Challenge held from 24–26 November 2025, transformed the MTN Rooftop in Lagos into a launchpad for climate-tech startups, proving that African youth are not waiting for permission to solve the continent’s biggest challenges; they are already building the profitable, impactful solutions the world needs.
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