Shieldforce bets on AI protection as Nigeria faces $500m annual cyber losses

A business can lose more than money when its systems are compromised. Customer records may be exposed, employees may lose access to essential files, and operations can grind to a halt while the source of an attack is investigated. For Nigerian businesses increasingly reliant on digital systems, cybersecurity has become an important part of protecting both information and day-to-day operations.

Data from Mastercard’s white paper, Africa’s Digital Defence Race, illustrates the scale of the challenge. Its Cyber Insights platform recorded approximately 16,700 cyber events in Nigeria in 2025, accounting for 24.4 per cent of the 69,236 events recorded across Africa. Nigeria had the highest number of recorded events on the continent, followed by other major markets including South Africa, Morocco and Kenya.

The financial cost has also been significant. Deloitte estimates cited in the report put Nigeria’s losses to cybercrime at more than $3 billion between 2019 and 2025, averaging about $500 million annually. Interpol data cited in the report recorded 5,822 ransomware detections in Nigeria in 2025.

The threats behind these figures take different forms. Phishing links can lead users to fraudulent websites designed to steal sensitive information, while malware can compromise devices and files. Ransomware can restrict access to systems and disrupt business operations. For organisations that depend on digital records, the consequences can extend to customers, employees and business partners.

These concerns formed the backdrop to the unveiling of Shieldforce’s cybersecurity protection packages and Standard Edition at Ikeja Club, Computer Village, Lagos, on October 8, 2026.

The event was organised by Ndi-Igbo Computer Village in conjunction with Epinec Nigeria and SoftwareShop Limited. Discussions focused on protecting computers and organisational systems, preventing data loss and supporting business continuity.

Shieldforce was presented as an endpoint protection solution for personal computers and servers, with capabilities intended to address phishing links and malware attacks. Akor Akazue, a software engineer and web application support executive at Shieldforce Corporation, discussed the software’s use of artificial intelligence to identify behaviour associated with malicious software, including ransomware. System monitoring was also presented as a means of examining the history of incidents affecting a device.

Austin C. Agbakor, chief executive officer of SoftwareShop Limited, described Shieldforce as a complete end-to-end protection solution. He said its monitoring system operates through a server, allowing users to trace the history and possible source of a problem even when a system breaks down. He added that the software uses artificial intelligence and is designed to work across personal computers and servers. SoftwareShop Limited distributes Shieldforce in Nigeria.

The capabilities described at the event address concerns that extend beyond preventing an attack. Understanding what happened to a system and tracing the source of a problem can also matter when businesses are trying to assess an incident and restore normal operations.

The wider challenge remains significant as organisations move more transactions, records and communications online. The cyber events recorded in Nigeria in 2025 highlight the exposure facing businesses, while the launch of Shieldforce adds another product to a market responding to growing concerns about the security of digital systems.

For Nigerian businesses, protecting data is increasingly tied to protecting operations, customer information and the trust on which commercial relationships depend.