Nigerian financial institutions face cyberattacks as industry remains largely silent

Financial institutions in Nigeria have come under increasing pressure from cyberattacks in recent weeks, raising fresh concerns about the security of the country’s financial infrastructure.

Yet, despite the growing concerns, many institutions have remained publicly silent about the incidents.

Lendsqr CEO Adedeji Olowe has drawn attention to the threat in a blog post, breaking with what he describes as a common industry practice of keeping quiet about security incidents.

Last updated: November 4, 2026