Cyber Security – A Matter Of Concern For Nigerian Boards

2015 was an incredible year for cyber security in Nigeria. In May 2015, the cybercrime bill was signed into law in Nigeria by our former President Goodluck Jonathan.¹ The implications of this to individuals and corporations is that cybercrime is now properly defined and legal consequences are attached to any defiance of this law. While it is expected that directors in a number of public companies in Nigeria must have included some cyber security matrixes in the risk assessment programmes for their companies, a majority of private companies are yet to put in place effective cybercrime prevention plans. We are still content with playing the ostrich by pretending that cybercrimes are more targeted towards individuals (i.e. through scam emails and identity theft).