Examining the Research Gap in Post-Quantum Cryptography Readiness of Nigerian Financial Institutions

The advent of quantum computing threatens to render current public-key cryptographic systems obsolete, and examining the research gap in post-quantum cryptography readiness of Nigerian financial institutions identifies critical preparedness priorities. This study examined PQC readiness through systematic literature review and original primary research. A systematic scoping review of nine databases identified 64 publications from 2020 to 2024 on post-quantum cryptography readiness in financial services, of which none addressed African or Nigerian contexts. Original research comprised structured interviews with 20 Chief Information Security Officers from commercial banks and fintechs in Lagos and Abuja, assessing PQC awareness, cryptographic asset inventory practices, and transition planning status. Results showed that PQC awareness was adequate in only 35.0 percent of CISOs surveyed. Cryptographic asset inventories had been completed by only 20.0 percent. No Nigerian financial institution had begun a formal PQC transition plan. NIST PQC standardisation candidates were known to only 30.0 percent. CBN had issued no PQC guidance as of the study period. The study identifies six research priorities for the Nigerian context including hybrid classical-PQC deployment testing and PQC performance benchmarking on Nigerian banking infrastructure, and recommends CBN issue a quantum-threat advisory and commission a national PQC readiness assessment for the financial sector.

Keywords: post-quantum cryptography, Nigerian financial institutions, quantum readiness, PQC transition, research gap