The Corporate Affairs Commission (CAC), Nigeria’s official company registry, has issued a cybersecurity alert urging businesses to secure their online accounts after detecting unauthorized access attempts. Officials confirmed the advisory was prompted by ‘suspicious activity patterns’ but did not disclose the number of affected entities.
Analysts link the warning to a broader surge in credential-stuffing attacks across West Africa, where hackers exploit reused passwords from previous breaches. ‘This isn’t isolated to Nigeria—we’re seeing regional threat actors targeting corporate registries for identity theft,’ said a Lagos-based cybersecurity consultant speaking anonymously due to client confidentiality.
The CAC notice recommends enabling multi-factor authentication and monitoring for fraudulent filings. A 2023 report by the Nigerian Communications Commission showed a 37% year-over-year increase in reported business email compromises.
Experts warn that compromised corporate credentials could enable fraudulent registrations or ownership changes. ‘Attackers may pose as legitimate businesses to secure loans or government contracts,’ noted a Deloitte Africa risk advisory specialist in a recent webinar.