Serious Concerns For Nigerian Businesses as CAC Confirms Cyberattack, System Breach
- The Corporate Affairs Commission confirmed a cyberattack on parts of its systems
- Users have been advised to update passwords and monitor their accounts
- The incident could disrupt business registrations and filings across Nigeria
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Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
Nigeria’s Corporate Affairs Commission (CAC) has confirmed a cyberattack on its systems, prompting an investigation in collaboration with the National Information Technology Development Agency (NITDA).
The commission disclosed this in a public notice issued on April 15, stating that it detected unauthorised access to parts of its information systems and immediately activated response protocols.
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CAC, NITDA begin probe into breach
According to the notice signed by its management, the CAC is working with NITDA and other government partners to assess the extent of the breach and safeguard its digital infrastructure.
The commission, led by registrar-general Hussaini Ishaq Magaji, manages Nigeria’s primary platform for company registration, name reservation, annual returns, and other corporate filings.
As part of precautionary measures, users have been advised to update their login credentials and closely monitor their records while investigations continue.
Concerns over business operations
The development comes at a time when Nigeria has been expanding digital services to improve the ease of doing business.
The CAC has, in recent years, increased reliance on online platforms to simplify company registration and compliance processes. However, the cyber incident has raised concerns about possible disruptions.
Stakeholders warn that any prolonged system downtime or data compromise could affect thousands of businesses, including startups and multinational firms, by delaying registrations and filings.
Experts raise cybersecurity concerns
Security experts and business groups have previously expressed concerns that the pace of digital transformation in government agencies may be outstripping cybersecurity measures.
They note that if sensitive company data were accessed, it could expose businesses to risks such as fraud, identity theft, or corporate espionage.
NITDA, Nigeria’s lead technology policy agency, is supporting the CAC’s response to the incident. Its director-general, Kashifu Inuwa Abdullahi, has consistently emphasised the need for stronger cybersecurity frameworks and improved digital resilience.
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Calls for stronger digital safeguards
Analysts say the incident highlights broader challenges facing Nigeria’s digital infrastructure as more public services move online.
While the CAC has assured the public of its commitment to protecting the integrity of the corporate registry, businesses are closely monitoring the situation for updates on system recovery and data security.
The outcome of the investigation may also influence future efforts to strengthen cybersecurity across critical government platforms.
FG launches investigation as banks report data breach
Legit.ng earlier reported that the Nigeria Data Protection Commission (NDPC) launched an investigation into an alleged data breach involving Remita Payment Services Ltd., Sterling Bank, and other institutions.
The commission disclosed this in a statement issued on Monday, April 6, by its Head of Legal, Enforcement and Regulations, Babatunde Bamigboye, who confirmed that a formal notice of investigation was served on April 1 in line with regulatory procedures.
Bamigboye said relevant parties and individuals have since been cooperating with the commission by providing information to support the probe and address the alleged incident.
Source: Legit.ng
