Nigeria now ranks as the second most targeted country in Africa for cyberattacks, with organizations facing an average of 4,361 attempts weekly as of June 2026. Despite a decrease in the total number of reported fraud incidents, financial losses from cybercrime are rising as attackers shift toward more sophisticated, targeted operations. Current threat intelligence indicates that over 280,000 Nigerian user accounts were compromised in the first quarter of 2026 alone, with nearly 80 million data records now circulating on dark web marketplaces. Experts warn that the misconception that only large institutions are at risk leaves small and medium enterprises particularly vulnerable, as modern threats increasingly exploit digital supply chains, cloud platforms, and remote work infrastructure. Organizations are urged to move beyond passive security postures and prioritize credential audits, staff training on targeted phishing, and documented breach response protocols.