News
Paying the Ransom Doubles Cost of Recovering from a Ransomware Attack, says Sophos
BY: Nmerichukwu Igweamaka
o Global survey shows the average cost of recovery is $1.4 million if organizations pay the ransom, $730,000 if they don’t
o SophosLabs reports on Maze ransomware techniques that increase pressure to pay
o 53% of the organizations surveyed in Nigeria witnessed a significant ransomware attack in the last 12 months
A global leader in next-generation cybersecurity, Sophos, has announced the findings of its global survey, The State of Ransomware 2020, which reveals that paying cybercriminals to restore data encrypted during a ransomware attack is not an easy and inexpensive path to recovery. In fact, the total cost of recovery almost doubles when organizations pay a ransom.
The survey polled 5,000 IT decision makers in organizations in 26 countries across six continents, including Europe, the Americas, Asia-Pacific and central Asia, the Middle East, and Africa.
More than half (51%) of organizations had experienced a significant ransomware attack in the previous 12 months, compared to 54% in 2017.
In Nigeria, 53% of the organizations surveyed mentioned a ransomware attack in the last one year. Globally Data was encrypted in nearly three quarters (73%) of attacks that successfully breached an organization, while in Nigeria, it was 74%.
The average cost of addressing the impact of such an attack, including business downtime, lost orders, operational costs, and more, but not including the ransom, was more than $730,000.
This average cost rose to $1.4 million, almost twice as much, when organizations paid the ransom. More than one quarter (27%) of organizations hit by ransomware admitted paying the ransom.
The survey also revealed 38% of the organizations that were attacked in Nigeria admitted to paying the ransom.
“Organizations may feel intense pressure to pay the ransom to avoid damaging downtime. On the face of it, paying the ransom appears to be an effective way of getting data restored, but this is illusory. Sophos’ findings show that paying the ransom makes little difference to the recovery burden in terms of time and cost.
This could be because it is unlikely that a single magical decryption key is all that’s needed to recover. Often, the attackers may share several keys and using them to restore data may be a complex and time-consuming affair,” said Chester Wisniewski, principal research scientist, Sophos.
More than half (56%) the IT managers surveyed were able to recover their data from backups without paying the ransom compared to 44% in the Nigeria. Globally in a very small minority of cases (1%), paying the ransom did not lead to the recovery of data while in Nigeria it was in 10% of cases.
This figure rose to 5% for public sector organizations. In fact, 13% of the public sector organizations surveyed never managed to restore their encrypted data, compared to 6% overall.
However, contrary to popular belief, the public sector was least affected by ransomware, with just 45% of the organizations surveyed in this category saying they were hit by a significant attack in the previous year.
At a global level, media, leisure and entertainment businesses in the private sector were most affected by ransomware, with 60% of respondents reporting attacks.
Attackers increase pressure to pay
SophosLabs researchers have published a new report, Maze Ransomware: Extorting Victims for 1 Year and Counting, which looks at the tools, techniques and procedures used by this advanced threat that combines data encryption with information theft and the threat of exposure.
This approach, which Sophos researchers have also observed being adopted by other ransomware families, like LockBit, is designed to increase pressure on the victim to pay the ransom.
The new Sophos report will help security professionals better understand and anticipate the evolving behaviors of ransomware attackers and protect their organizations.
“An effective backup system that enables organizations to restore encrypted data without paying the attackers is business critical, but there are other important elements to consider if a company is to be truly resilient to ransomware,” added Wisniewski. “Advanced adversaries like the operators behind the Maze ransomware don’t just encrypt files, they steal data for possible exposure or extortion purposes. We’ve recently reported on LockBit using this tactic. Some attackers also attempt to delete or otherwise sabotage backups to make it harder for victims to recover data and increase pressure on them to pay. The way to address these malicious maneuvers is to keep backups offline, and use effective, multi-layered security solutions that detect and block attacks at different stages.”
News
Naija Times celebrates 5th anniversary, launches nonprofit arm to promote quality journalism and social impact
Naija Times, Nigeria’s leading independent online newspaper, proudly celebrates its 5th anniversary.
To mark this milestone, the management is excited to announce the launch of Naija Times Journalism Foundation, its nonprofit arm, reinforcing its commitment to quality journalism and social impact.
Founded on September 15, 2020, by Ehi Braimah, a notable PR expert and media personality in Nigeria, Naija Times has delivered high-quality, unbiased, and informative content to its readers. Akpandem James and Jahman Anikulapo – two senior and highly respected journalists – are Braimah’s co-founding partners of Naija Times.
The newspaper covers politics, business, health, education, culture, and sports, while its regularly published editorials provide sharp insights into Nigeria’s pressing issues. The newly launched website, www.ntm.ng to mark the anniversary, offers a seamless, user-friendly experience, making it easier for readers to navigate the website and access Naija Times’ diverse content.
On its 3rd anniversary two years ago, Naija Times launched the book, ‘For a Better Society,’ a compilation of editorials published from September 2020 to July 2023 in Abuja, further solidifying its role in shaping public discourse.
Naija Times Journalism Foundation, accessible at www.ntjfoundation.org, expands the organisation’s mission by supporting investigative journalism on critical social issues, promoting media literacy to educate the public on evaluating information and combating misinformation, and empowering community development through initiatives that foster social cohesion and economic empowerment.
“We are proud to celebrate five years of delivering credible journalism to our readers,” said Braimah, founder and publisher/editor-in-chief of Naija Times.
“Five years ago, we launched Naija Times with the following goals in mind: build strong institutions, promote transparency and accountability in public spending, uphold the rule of law, and defend the public interest.
“Together with my colleagues, we remain committed to building an egalitarian society that is founded on equity, justice and respect for fundamental human rights. The launch of Naija Times Journalism Foundation represents a bold step forward in our mission to drive social impact and elevate journalism practice in Nigeria.”
Naija Times Journalism Foundation is a knowledge production and journalism innovation hub dedicated to strengthening democratic governance and promoting inclusive development and accountability by empowering a vibrant and free press in Nigeria, Africa and Black Diaspora.
The Foundation’s Programmes Officer is Hart Onoboh, a seasoned programmes and communications professional with over five years’ experience, driving impactful development projects in Nigeria.
Hart has a robust background in strengthening democratic governance, combating misinformation, and facilitating community-based interventions.
Previously a fact-checker and visual communications officer at the Centre for Democracy and Development (CDD-West Africa), he led initiatives to counter misinformation and promote electoral integrity, training over 25 fact-checkers across four states in Nigeria.
Hart is currently pursuing a Master’s degree in Information Management at Ahmadu Bello University, Zaria, and he brings technical expertise, creative communication, and field experience to the Foundation’s advocacy and governance initiatives.
The Chief Executive Officer of Sujimoto Luxury Construction Limited, Sijibomi Ogundele, is under intense interrogation by the Economic and Financial Crimes Commission (EFCC) over the alleged diversion of ₦5.7 billion paid by the Enugu State Government for an ₦11 billion contract.
Ogundele, who had earlier been declared wanted, turned himself in to EFCC Abuja headquarters and was grilled for more than 10 hours on Tuesday. His personal and company accounts have been frozen, and his passport seized to restrict his movement.
According to investigators, Ogundele convinced the state to release 50% of the contract sum—₦5.7 billion—after promising speedy delivery. However, state officials allege that work done so far is worth no more than ₦750 million, accusing him of abandoning the project.
The Enugu State Government’s petition triggered EFCC’s probe, which may see Ogundele spend more time in custody as investigations continue.
In a tearful online video, Ogundele denied any wrongdoing, framing the matter as a contractual dispute: “I’m not a thief, I’m not a fugitive. This is between my company and the Enugu State Government. It’s not criminality.”
…Unveils Selection Panel
The Nigeria Digital PR Summit has officially opened nominations for the second Nigeria Digital PR Awards, a prestigious platform that recognizes excellence, innovation, and impact in digital public relations across Nigeria.
Honourees will take the spotlight at the Nigeria Digital PR Awards Gala; a premium evening celebrating the individuals, organizations, and campaigns that defined digital PR in the past year, marking the 10th Nigeria Digital PR Summit. Adding flair to the night is the Digital PR Fashion Runway; a bold fusion of fashion, technology, and communications that promises an unforgettable experience.
This year, 19 award categories will honour campaigns across four classes including Campaign Excellence Awards, Sector Excellence Awards, Innovation and Technology Awards, and Individual & Professional Excellence Awards.
The Summit also unveiled a three-member Selection Panel responsible for reviewing entries and shortlisting winners.
The panel is chaired by the Founder and CEO, Fernhill Digital Consulting, Datari Ladejo, and includes the former Senior Business Program Manager, MarComms, Africa Development Center (ADC – West), Microsoft, Oluwamuyemi Orimolade; and Founder/Lead Partner, PuzzleCraft PR and Communications, Beatrice Okpara.
Nominations are open to agencies, corporate communication teams, NGOs, startups, and individual practitioners whose work has delivered measurable results and demonstrated creativity in leveraging digital platforms.
Nominations run from September 1 – 8, 2025. Shortlisted nominees will be announced during the Awards Gala on October 16, 2025, at the Conference Centre, Naval Dockyard, Ahmadu Bello Way, Victoria Island. For entry guidelines and submission details, visit: https://forms.gle/cM2oFQTnSSqL51EC9.
Founder, Nigeria Digital PR Summit, Segun McMedal, said, “We are excited to launch this year’s call for nominations and to welcome such distinguished professionals to the Selection Panel. This panel reflects the breadth of expertise driving digital communication in Nigeria, and its stewardship will ensure a fair and transparent evaluation process.”
The seven categories in the Campaign Excellence Awards include Best Overall Digital PR Campaign, Best Brand Advocacy Campaign, Best Crisis Communication in Private Organisations, Best Crisis Communication in Government, Best Public Affairs Campaign, Youth Impact Award for Social Change, Outstanding Influencer Collaboration, and Best Use of Content Marketing.
Categories in the Sector Excellence Awards include Excellence in Public Service Digital Campaign, Digital PR Excellence in Telecom Services, Digital PR Excellence in Financial Services, and Sustainability and ESG Communication Excellence.
The Innovation and Technology Awards category include Innovative Use of Technology in PR, Best Digital Engagement with Citizens, Outstanding Digital Customer Experience, and Creative Use of Short-Form Video in PR. The Individual and Professional Excellence Awards include Emerging Digital PR Professional of the Year and Digital PR Professional of the Year.
Naija Times celebrates 5th anniversary, launches nonprofit arm to promote quality journalism and social impact
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