A cybersecurity organisation based in the United Kingdom has revealed that 44 percent of Nigerian companies have paid ransom to retrieve their date from Internet hackers.
In its report titled: “The State of Ransomware 2022,” the firm noted 77 one percent of Nigerian organisations suffered attacks by ransomware in 2021.
According to the report, Nigerian companies affected by the ransomware increased from 22 percent in the previous year to 71 percent in 2021.
“The main findings of the State of Ransomware 2022 global survey from the Nigerian respondents, covers ransomware incidents experienced during 2021, as well as related cyber insurance issues.
The report added that “more victims are paying the ransom — In 2021.
“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 per cent of organisations said the attack had impacted their ability to operate, and 96 per cent of the victims said they had lost business and/or revenue because of the attack.
“Many organisations rely on cyber insurance to help them recover from a ransomware attack – 81 per cent of mid-sized organizations had cyber insurance that covers them in the event of a ransomware attack – and, in 97 per cent of incidents, the insurer paid some or all the costs incurred.”
