Nigeria’s Top 50 Android Apps for Finance Vulnerable to Cybersecurity – Report

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Two cybersecurity assessment reports of Top 50 Android Apps for Shopping and finance related tested for cybersecurity by Appknox, one of the world’s most powerful plug-and-play security platforms have indicated security risks to businesses in Nigeria.

Both the reports show that a high percentage of apps, 60 percent Finance apps and 72 percent shopping apps, featured critical or high-security risk elements, putting the confidential customer and business data at risk.

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The assessment, which is presented to businesses in the Nigerian retail industry and their customers to help them assess the magnitude of security concerns, was carried out following eCommerce fraud where businesses across the globe are losing billions of dollars (more than $20 billion in 2021).

This report examines the top 50 Nigerian shopping Android apps and runs them through Appknox’s exhaustive security testing process to gain relevant insights.

Unveiling the report in Lagos, Mr. Chukwuebuka Ume-Ezeoke, the Chief Technology Officer of CED Technologies and Appknox’s Africa partner, said the report will be helpful to app developers in creating cost-effective and efficient mobile application security strategies that safeguard their user and business data and adhere to international security standards.”

The aim of sharing the report with the business community in Nigeria is to help them understand the importance of cybersecurity for applications built for their businesses and generate much-needed awareness around the issue. The reports are also designed to be geographically specific to ensure a more significant impact on the target audience,” he said.

The report revealed that the cybersecurity threat is even more severe in developing countries like Nigeria, where the online retail industry has experienced tremendous expansion. Also, Nigeria’s Top 50 Android Apps for Finance Tested for Cybersecurity with one of the most digitally thriving fintech businesses booming in Nigeria and the volume of critical data at risk, it becomes essential to assess the security performance of some of the most popular and trusted apps there.

Appknox delivers this cybersecurity assessment report to assist firms in the Nigerian fintech sector and their clients in understanding the level of security risks.

The report highlights Appknox choosing the top 50 Nigerian shopping apps; Nigerian shopping app market overview & trends; most common security vulnerabilities found in these apps; research & testing methodology; what test cases does the research cover; key findings from the research; app performance on CVSS score and best practices to mitigate these risks.

Inquiries: The public can go through the reports to have a better understanding, and feel free to ask the expert security team any questions via email at appknox@ced.com.ng.