RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

Lagos Rolls Out Cybersecurity Guidelines to Tackle N250 Billion Annual Cybercrime Losses

Victoria Attah by Victoria Attah
April 20, 2026
in Business
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The Lagos State Government has unveiled a comprehensive set of cybersecurity guidelines aimed at protecting businesses, public institutions, and residents as the state grapples with an estimated N250 billion ($500 million) in annual losses due to cybercrime.

Commissioner for Information and Strategy, Gbenga Omotoso, announced the framework on April 14, 2026, describing it as a critical step toward positioning Lagos as a secure and globally competitive digital hub. The guidelines were developed in collaboration with the Lagos State Cybersecurity Advisory Council, chaired by Fene Osakwe.

AlsoRead

Court Hits 21 Unlicensed Investment Firms with N30 Million Fines Each

Sterling, AIICO and Fidelity Lead Volumes as NGX Gains About N315 Billion

Trade Surplus More Than Doubles to N12.6 Trillion as Exports Climb

Omotoso explained that as Lagos rapidly evolves into a SMART City with expanding digital infrastructure, the risk of cyberattacks has grown significantly. The new guidelines provide a practical and scalable roadmap to help organisations safeguard their systems and data against evolving threats.

The framework aligns with key national laws, including the Cybercrime Act and the Nigeria Data Protection Act. It places particular emphasis on small and medium-sized enterprises (SMEs), which often lack robust security measures.

Organisations are encouraged to adopt data minimisation principles, implement secure storage with encryption, and develop clear incident response plans. In the event of a breach, they must notify relevant authorities such as ngCERT within 72 hours, as well as affected customers and the Nigeria Data Protection Commission.

The government clarified that the guidelines are not mandatory regulations but practical tools to promote best practices and strengthen overall digital resilience.

The framework underscores that cybersecurity is a shared responsibility. Secure systems in businesses and government institutions not only protect economic stability but also enhance Lagos’s attractiveness to global investors.

Stakeholders are urged to assess the cybersecurity readiness of third-party vendors and cloud service providers. The government is calling for immediate action, including self-assessments, implementation of basic security controls, and investment in staff training.

Commissioner for Innovation, Science and Technology, Tubosun Alake, was commended for his role in driving the initiative.

Lagos currently boasts over 22 million active digital users and a startup ecosystem valued at approximately $15.3 billion, making it Africa’s fastest-growing digital economy. However, this large digital footprint also increases its exposure to cyber risks.

The release of the guidelines is seen as a proactive response to these vulnerabilities, aiming to build a safer digital environment that supports sustainable economic growth and innovation in Nigeria’s commercial capital.

The full document is now available on the Lagos State Government’s official website for public access and implementation.

Tags: #Lagos#NigeriaCrime
Previous Post

Nigerian Breweries Attributes 135% Share Price Surge to Successful Recovery Strategy

Next Post

NGX All-Share Index Surges Past 217,000 Points in Strongest Weekly Gain of 2026

Related News

NGX Fines Banks N76.8 Million for Late Financial Reporting

Court Hits 21 Unlicensed Investment Firms with N30 Million Fines Each

by Victoria Attah
September 29, 2026
0

Nigeria’s capital market regulators have scored a significant enforcement win after a Federal High Court in Nasarawa State convicted 21...

Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

Sterling, AIICO and Fidelity Lead Volumes as NGX Gains About N315 Billion

by Jide Omodele
September 17, 2026
0

The Nigerian Exchange recorded turnover of 662.35 million shares on Wednesday, 16 September 2026, as investors kept up strong activity...

Naira Depreciation Forces Imports Down By 65% in Q3, 2023

Trade Surplus More Than Doubles to N12.6 Trillion as Exports Climb

by Victoria Attah
September 8, 2026
0

Nigeria’s merchandise trade surplus more than doubled to N12.60 trillion in the second quarter of 2026, driven by stronger exports...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

NGX Delays New Equity Pricing Rules as Investors Await Fresh Launch Date

by Jide Omodele
August 17, 2026
0

The Nigerian Exchange has postponed the introduction of its revised pricing methodology for equities trading, one day before the new...

Next Post
Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

NGX All-Share Index Surges Past 217,000 Points in Strongest Weekly Gain of 2026

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Naira depreciates to N745/$ in the parallel market

Naira Breaks Below N1,500 Against Euro for First Time Since April 2024

October 5, 2026
Nigeria Exports Electricity Worth N23bn as Local Consumers Suffer Outages.

DisCos Collect N603.64 Billion in Q2 Despite Lower Power Offtake

October 5, 2026

Popular Story

  • Nigeria Exports Electricity Worth N23bn as Local Consumers Suffer Outages.

    DisCos Collect N603.64 Billion in Q2 Despite Lower Power Offtake

    0 shares
    Share 0 Tweet 0
  • Naira Breaks Below N1,500 Against Euro for First Time Since April 2024

    0 shares
    Share 0 Tweet 0
  • High Gold Prices Accelerate Africa’s Drive for Domestic Refining

    0 shares
    Share 0 Tweet 0
  • Nigeria Surpasses Financial Inclusion Target, Yet Tens of Millions Remain Financially Fragile

    0 shares
    Share 0 Tweet 0
  • 31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>