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Securing Your Organization Against Ransomware Attacks

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Nigerian businesses continue to reap immense gains from deploying contemporary digital technologies in the design and execution of their processes. But these tools aren’t always insulated from potential sabotage. Malicious actors may find vulnerabilities in those technologies, and exploit such weaknesses to wreak havoc on the organizations that use them.

One way that cybercriminals do this is by targeting their victims with ransomware. Over the past decade, cyberattacks involving ransomware have grown in number, and have become more sophisticated. These attacks hit SMEs and large corporations, and even public sector agencies, and costs them tens of millions of naira.

If you are a business or an institution in Nigeria, you should be concerned about ransomware and the damage it could cause you.

Ransomware: A Brief Introduction

Ransomware is a program that blocks access to its victim’s files until the victim pays a ransom. Cybercriminals infect a target’s computer with it, aiming to extort a specific amount of money from that target in return for restored access, in a manner akin to a kidnap-for-ransom.

Typically, the perpetrator would send ransomware disguised as a harmless file to victims. If the target downloads or opens the file, it infects their system. The program may be spread through email attachments, malicious URLs, remote desktop protocol, and even malicious advertising.

Newer ransomware types can self-propagate across a network, potentially infecting every system used in an organization. They are capable of shutting down entire businesses.

Ransomware Attacks Are Fairly Common

Reports on the state of IT and the contemporary business environment reveal that ransomware attacks are fairly common across the globe. Not surprisingly, they are usually concentrated on businesses.

In 2020 alone, there were an estimated 304 million ransomware attacks worldwide. This was up 62% on the previous year. According to the Singapore Computer Emergency Response Team, there was “a seven-fold jump” in the number of reported ransomware incidents in the first half of 2020.

Some of that spike in activity was attributed to cyber criminals trying to exploit lapse IT security during the COVID-19 pandemic; their targets were predominantly remote workforces. However, these incidents have numbered in the hundreds of millions per year since 2016.

Nigerian organizations have been affected. A report by the Sophos Group, a UK-based security software and hardware security firm, revealed that 53% of the Nigerian businesses it surveyed had been victims of ransomware in 2019.

Of the businesses hit, about 38% of them admitted to paying the attackers to regain access to their files. However, the Sophos report indicated that these payments didn’t always result in the victims recovering all their resources.

A Few Well-Known Ransomware Attacks

In 2019 and 2020, many companies worldwide were targeted by ransomware called Ryuk. It is spread via malicious emails that contain dubious links or attachments. If successfully deployed on an organization’s computers, it can request a ransom of more than $300,000. As of January 2021, cybercriminals had reaped more than $150 million from Ryuk.

Three years before this, another ransomware, Petya, began infecting computers in several countries. It denied users access to their Operating Systems and demanded a $300 ransom from them. A later version did not unlock the infected system even after the ransom was paid.

The most infamous ransomware attack to date involved the WannaCry program, which infected more than 200,000 computers in over 150 countries. In May 2017, it spread across the world fairly rapidly, affecting both businesses and public institutions. The global cost of the attack is believed to have exceeded $4 billion.

Since the first known ransomware was created in 1989, several more have been designed and deployed, to devastating effect.

Organizations Incur Significant Costs from Ransomware Attacks

The cost of recovering from a ransomware attack has doubled in the past year. The cumulative global cost was well over $1 billion in 2020 alone.

Sophos says that these incidents cost mid-sized businesses an average of $133,000 annually. Some companies incurred several million dollars in recovery costs. In many cases, this expenditure racks up from multiple incidents.

The most hard-hit sectors included media, IT and telecoms, and energy/oil and gas utilities. The public sector was the least frequently targeted. Regardless, organizations in these domains have spent large amounts of money on damages inflicted by ransomware.

Unfortunately, many SMEs are unable to bear the financial weight of recovery. At least 1 in 5 of these businesses shut down within a year of suffering an attack. Bigger companies are better able to cope, but they too aren’t immune from the burden that such events bring.

How to Protect Your Organization Against Ransomware

The threat of a ransomware attack is ever-present. You will do well to prepare for an attempted strike against you.

Map your assets and note the degrees to which each one is vulnerable to an attack. Work with your IT team to prepare a resilience plan, complete with data backup, business continuity, and recovery strategies.

Also, ensure that the latest Operating Systems patches are applied when they become available, and update critical software as soon as is possible. Carry out penetration tests to determine where the weak points are, and fix them.

Adopt enhanced passwords and multi-factor authentication for staff at your organization. Train them to verify emails and other messages before engaging with them, and not to open websites unless they have a URL that begins with ‘HTTPS’ (Hypertext Transfer Protocol). The last ‘s’ is crucial; it indicates a secure site.

A Partner You Can Trust

Ransomware attacks have grown more sophisticated and precise over time. If you have sensitive data to protect, you will want to work with IT security experts to set up a strong defense for your organization.

Layer3 provides this expertise through its cybersecurity services. With our IT risk vulnerability and management, email authentication, and network access solutions, you can build a strong buffer against various kinds of cyber threats, including ransomware.

To find out more about our IT security offerings, or the other services we provide, you can contact us here.


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E-Business

GenAI Adoption Among African workers Outpace Global Peers

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Africa’s workforce is embracing artificial intelligence (AI) at a faster pace than global peers, but pressure is mounting for organisations to ramp up digital skills development as generative AI (GenAI) begins reshaping roles across industries.

This is according to PwC’s Global Workforce Hopes and Fears Survey 2025, which shows a continent ready for AI-enabled transformation, but facing a narrowing window to prepare, through skills development initiatives.

The survey, covering nearly 50 000 workers worldwide and 1 753 across South Africa, Algeria, Kenya, Morocco and Nigeria, finds that African employees are already integrating AI into daily operations.

Sixty-four percent of respondents in Africa used AI tools in the past year, compared to 54% globally, and the sentiment is overwhelmingly positive. While only 17% report using GenAI every day, confidence in its benefits is high: 76% believe GenAI improves work quality, and 72% expect AI-driven productivity gains within three years.

In SA, executives are even more bullish, as 91% say AI has already lifted both productivity and work quality — a signal that leadership is pushing harder toward AI-enabled ways of working, notes the survey.

However, this optimism is coupled with rising concern about future readiness. Only 35% of African workers believe their skills will still be relevant three years from now. With GenAI expected to affect nearly half of all job roles, PwC warns that the continent’s workforce risks falling behind unless organisations accelerate large-scale reskilling.

Despite the pressures, employees are not standing still. PwC notes that African workers outperform their global peers in proactive learning, recording 15% higher participation in skills-building and receiving 6% more support from managers. This indicates that both workers and immediate supervisors recognise the pace of AI adoption and are pushing to adapt.

PwC Africa people and organisation leader, Dr Dayalan Govender, says the moment calls for decisive leadership. Organisations, he argues, must integrate AI into workforce strategies, accelerate digital adoption, and expand upskilling programmes at scale.

“Africa’s workforce is optimistic and ready for change, but leaders must accelerate digital adoption and invest in future-ready skills to convert this optimism into sustainable growth,” he says.

Beyond the technology shift, the survey captures a workforce hungry for growth but constrained by financial pressure. Many employees are preparing to make career moves: 45% plan to request a raise, and another 45% aim for a promotion in the next year. Yet household financial stability remains strained, with only a third of respondents reporting any money left over for savings.

Still, Africa’s workplaces continue to show strong foundations of trust and purpose — elements PwC believes will be critical in navigating GenAI disruption. More than 55% of workers trust management, and two-thirds say their work feels meaningful, both above global averages.

With AI adoption rising and employees motivated to reinvent their careers, PwC warns that the coming years will determine whether Africa’s early optimism translates into long-term competitiveness as GenAI transforms the world of work.

The report calls for embedding AI into workforce strategies to bridge the gap between optimism and practical adoption, scaling upskilling initiatives to prepare for GenAI disruption, and fostering trust and psychological safety to retain talent and drive innovation.

“For employers, these findings are a stark reminder that they can and should do more to help workers understand, adopt, and embrace AI’s transformative power.

“Employers may need to pay special attention to entry-level workers, nearly a third of whom say they’re worried to a large or very large extent about AI’s impact on their future, even as they’re also curious (47%) and optimistic (38%) about its long-term societal effects,” notes the report.


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Nigeria Records Highest Weekly Cyberattacks in Africa — Report

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Nigerian organisations are facing the highest volume of weekly cyberattacks in Africa, according to the newly released African Perspectives on Cyber Security Report 2025 by Check Point Software Technologies Ltd., a global leader in cybersecurity solutions.

Nigeria Records Highest Weekly Cyberattacks in Africa — Report

The report revealed that Nigerian firms experience an average of 4,200 attacks per week, significantly higher than the continental average of 3,153 and 60 per cent above the global average of 1,963 attacks per organisation.

The findings highlight a sharp rise in attacks across Africa, driven largely by artificial intelligence-enabled threats.

Kingsley Oseghale, country manager for West Africa at Check Point, said attackers are increasingly using AI to automate phishing, impersonation, and cloud exploitation.

“AI has become part of the attack surface,” Oseghale said. “Attackers are using it to automate phishing and identity theft at scale. The only effective response is prevention-first security that combines visibility, governance, and AI protection.”

The report noted that cybercriminals are exploiting exposed identities and misconfigured systems to target critical sectors, including finance, energy, telecoms, and government.

Identity-led intrusions, AI-generated phishing campaigns, and multi-vector ransomware are on the rise.

Across the continent, Check Point identified key trends in different markets. Nigeria is experiencing business email compromise and cloud exploitation; South Africa faces rising ransomware, smishing, and botnet infections such as Vo1d and XorDDoS; Kenya has seen ransomware targeting critical energy infrastructure; and Morocco has experienced coordinated government and education-sector disruptions via DDoS and website defacement attacks.

The report highlights five major shifts shaping Africa’s cyber risk in 2025.

Traditional ransomware has evolved into data-leak extortion, AI-generated deception is widespread, and identity has emerged as the new security perimeter.

Weak cybersecurity, the report warned, can now affect international market access under regulations such as the EU’s NIS2 Directive, making digital resilience an economic necessity.

The study urged African businesses and governments to adopt prevention-first security strategies, including continuous risk assessment, regulatory readiness, and public-private collaboration.

Oseghale emphasised that, as AI reshapes operations, cybersecurity must shift from reaction to prediction.

“The real challenge is not adopting new technology but securing the trust that underpins it,” he said.


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Jumia’s Data Shows Nigerians Turning to Digital Retail to Navigate Inflation Pressures

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As Black Friday 2025 unfolds across Nigeria, new insights from Jumia’s Q3 2025 financial results reveal that more Nigerians are relying on digital retail to navigate inflation and rising living costs.

The data points to a more deliberate, value-driven shopper, one using online platforms to stretch budgets, compare options quickly, and extract more value from each purchase.

Jumia reported a 30 percent year-on-year increase in physical goods orders, while Gross Merchandise Value for physical goods rose by 43 percent.

This stronger GMV growth highlights a clear behavioural shift: consumers are assembling higher-value baskets by combining essentials with premium or long-term household items. Online retail is serving as a tool for strategic planning, not just convenience.

According to Temidayo Ojo, Chief Executive Officer of Jumia Nigeria, Black Friday now plays a more critical economic role. “Households are using digital retail to defend purchasing power. They plan their lists, compare prices instantly, and rely on the reliability and convenience that e-commerce offers,” he said.

This year’s Black Friday trends show growing demand in categories that directly support daily living. Household essentials and FMCG products are seeing significant uptake as families stock up during price drops. Home and kitchen equipment is also experiencing stronger demand as shoppers prioritise practical, durable tools. Affordable fashion and beauty products are gaining momentum as discounts make them more accessible.

Consumer behaviour in the lead-up to the sales period further reinforces this shift. Jumia recorded a notable increase in “Add to Wishlist” and “Add to Cart” activity, signalling more planning and fewer impulse purchases. The gap between GMV and order growth indicates that customers are optimising baskets using bundles, vouchers, and promo combinations, behaviours uniquely suited to digital platforms.

With inflation intensifying the need for smarter buying, trust markers on Jumia, such as verified sellers, official brand stores, ratings, and clear return policies, are becoming more central to decision-making. Authenticity and durability now outweigh the appeal of the lowest price.

Jumia’s logistics footprint is making these benefits available nationwide. Its 30,000 sqm Isolo fulfilment centre, 480 pickup stations, and 62 logistics partners ensure that customers in secondary and peri-urban cities enjoy the same deals as those in major hubs, reducing travel burdens and adding financial value.

Overall, Jumia’s Q3 data and Black Friday trends show that Nigerians are turning to digital retail as a practical, strategic response to inflation, using e-commerce to manage budgets, preserve purchasing power, and make more informed buying decisions.


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