Investigation of Cybersecurity Risk Awareness in Nigerian Microfinance Banks in Kebbi State

Microfinance banks in rural northern Nigeria handle the financial data of underserved populations and are frequent targets for cybercrime, yet their staff cybersecurity risk awareness has not been documented in the research literature. This study investigated cybersecurity risk awareness among staff of microfinance banks in Birnin Kebbi, Argungu, and Zuru Local Government Areas, Kebbi State, North West Nigeria. A descriptive survey was conducted among 120 microfinance bank staff across teller, management, and IT roles using stratified random sampling. The questionnaire assessed awareness of common cyber threats, knowledge of internal security policies, incident reporting familiarity, financial fraud prevention practices, and training history. Results showed a mean awareness score of 43.8 out of 100, indicating low cybersecurity awareness. Only 28.3 percent were aware that their institution had a cybersecurity policy. Awareness of phishing as a threat to financial institutions was present in 52.5 percent but knowledge of how to respond was adequate in only 21.7 percent. Financial fraud prevention practices specific to microfinance, such as dual authorisation for large transactions, were followed by 55.8 percent. Security training had been received by only 22.5 percent in the preceding year. The study concludes that cybersecurity risk awareness at Kebbi State microfinance banks is critically inadequate and recommends a Central Bank of Nigeria-mandated minimum security training programme for all microfinance bank staff, particularly in underserved northern Nigerian states.

Keywords: cybersecurity risk awareness, microfinance banks, Kebbi State, North West Nigeria, financial sector security