Department of Security and Strategic Studies, Nasarawa State University, Keffi, Nigeria.
Review Article
World Journal of Advanced Research and Reviews, 2022, 16(01), 595-604
Article DOI: 10.30574/wjarr.2022.16.1.1057
Received on 14 September 2022; revised on 16 October 2022; accepted on 19 October 2022
Unprepared with a fragile digital infrastructures, and hurriedly tossed into the depth of the cyberspace in the Fourth and Fifth Industrial Revolutions (4IR and 5IR) by Covid-19 pandemic measures, of lockdown and needs for remote learning. The educational sector became the most vulnerable; with streams of cyber-attacks stalling virtual classes and compromising data integrity, of which the financial sector was not exempted, despite the evolvement of cyber insurance policy. The financial end users are aggravated and left at the mercy of internet fraudsters called “yahoo-yahoo” boys, coupled with hacking of SWIFT, crypto currency thefts, and Nations’ Central Banks falling into cyber-attacks, thus leaving no unconquered space for cybercriminals, even as cyber literacy and security are siloed away under stand-alone arrangements despite the interconnectedness of the cyberspace. It was against this background, that this study leverages on Theory of Endogenous Growth Model to interrogate impact of cyberspace on the protection of critical national assets and infrastructures in Nigeria. The study deconstruct national assets into education and financial sectors to assess the existing impact. This study adopts qualitative research design using exploratory research design of publicly available archive documents. Empirical evidence from study revealed that cyberspace has expanded the virtual learning horizon while cyber attacks still remain on the minimal. Findings that emanate from this study revealed cyberspace has positively impacted on the Nigeria Financial sector through financial inclusion and transaction conveniences while the damaging effect of cyberattacks remained largely covered up. The study recommends that all players in the educational sector should invest widely in cybersecurity as days of imminent cyberattacks is on the horizon as seen evolving in developed clime. Study also recommend that government should firm up cyberspace policy, and inject collectivism into cyber security plans of sectors as an improvement on the present stand alone security by banks in Nigeria.
Crypto currency; Cyber Insurance Policy; Cybersecurity; Digital Infrastructure
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BILLE David Urbanus. Impact of cyberspace on the cybersecurity of critical national assets infrastructures in Nigeria: A review of education and financial sectors. World Journal of Advanced Research and Reviews, 2022, 16(1), 595-604. Article DOI: https://doi.org/10.30574/wjarr.2022.16.1.1057