Report: 44% of Nigerian firms paid hackers ransom in 2021

According to a new report by Sophos, seventy-one percent of Nigerian organizations were hit by ransomware in 2021 and 44 percent of them were forced to pay ransom to get their data back.

Sophos is a United Kingdom-based cybersecurity solutions firm.

The report titled, ‘The State of Ransomware 2022,’ said the number of Nigerian organizations that were hit with ransomware increased from 22 percent in 2020 to 71 percent in 2021.

The report reads partly, “The main findings of the State of Ransomware 2022 global survey from the Nigerian respondents, which covers ransomware incidents experienced during 2021, as well as related cyber insurance issues, include:

“More victims are paying the ransom — In 2021, 44 percent of organizations that had data encrypted in a ransomware attack paid the ransom

“The impact of a ransomware attack can be immense — The average cost to recover from the most recent ransomware attack in 2021 was $3.43m. It took on average one month to recover from the damage and disruption. 97 percent of organizations said the attack had impacted their ability to operate, and 96 percent of the victims said they had lost business and/or revenue because of the attack.”

The report analyzed the impact of ransomware on 5,600 mid-sized organizations in 31 countries in Europe, The United States, Asia-Pacific, Central Asia, the Middle East, and Africa.



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