Bug-bounty programmes can help Nigerian companies find and fix security flaws before attackers exploit them, says Apex Web Network CTO David Efemena Ominiabohs.
Speaking at the Apex Tech Summit in Lagos, Ominiabohs stressed that security should be built into digital products from the design stage, not added after launch. He warned that retrofitting security leaves businesses more vulnerable to breaches.
He explained that bug-bounty schemes, which reward ethical hackers for finding vulnerabilities, provide a cost-effective way to test and improve defences. By identifying weaknesses early, companies can protect sensitive data, avoid reputational harm, and meet compliance standards.
The CTO also urged organisations to improve internal readiness through regular phishing simulations. Such exercises, he said, keep employees alert and reduce risks from human error — a major factor in successful cyberattacks.
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Ominiabohs recommended that Nigerian firms store data within local data centres. Keeping information inside the country, he noted, reduces exposure to foreign data laws and builds user trust.
He advised startup founders to master the Nigerian market before expanding abroad, pointing out that local compliance knowledge helps when scaling to stricter jurisdictions.
Nigeria faces one of the highest rates of cyberattacks globally, with an average of 3,759 weekly incidents per organisation — nearly twice the global average of 1,876, according to Check Point Research. The nation’s cybersecurity market, valued at $230 million in 2025, is projected to grow as adoption of cloud services, AI-driven analytics, and managed security expands.
“Cybersecurity is not an afterthought,” Ominiabohs concluded. “By using tools like bug-bounty programmes, Nigerian companies can stay ahead of the threats they face daily.”
