A new report by cybersecurity firm esentry reveals that over N1 billion in fraud went undetected by automated security systems across West Africa during the first half of 2026. The study highlights that major incidents in Nigeria’s financial and fintech sectors bypassed security alerts, as attackers increasingly leveraged legitimate credentials and trusted access rather than technical vulnerabilities. Furthermore, the report notes that Nigerian organizations face an average of over 4,700 cyberattacks weekly, with 281,500 accounts breached in the first quarter alone. Esentry warned that poor authorization design and insufficient log retention remain critical gaps, recommending that firms shift toward continuous threat hunting and more rigorous backend verification.