With the rise of digital technology in Nigeria, data breaches are also on the rise. Surfshark, an Amsterdam-based cybersecurity firm, has released a recent global study revealing Nigeria's position as the 32nd most breached country in the first quarter of 2023.
The study comes at a time when Nigeria is experiencing a surge in data breaches due to its growing digital transformation and increased internet connectivity.
In the first quarter of 2023, Nigeria witnessed a significant increase in data breaches, with 82,000 leaked accounts recorded. This marks a 64% rise compared to the previous quarter. However, there was a global decline in data breaches during the same period, with 41.6 million accounts breached worldwide. This represents almost a 50% decrease from the nearly 81 million breaches reported in the fourth quarter of 2022.
Data breaches occur when hackers gain unauthorized access to sensitive user information, including names, email addresses, passwords, and banking details, which are then leaked or exploited. According to a report by IBM, the average cost of a data breach in 2022 was $4.35 million.
The study also highlights Russia as the leader in data breaches, with 6.6 million breaches, accounting for one-sixth of all global breaches during the first quarter. The United States ranks second with 5 million breaches, followed by Taiwan with 3.9 million breaches after experiencing significant quarter-over-quarter growth. France and Spain recorded 3.2 million breaches each.