Nigerian businesses are predicting the highest levels of fraud across Sub-Saharan Africa in 2026, according to the latest World Security Report, commissioned by Allied Universal® and its international arm, G4S.
Thank you for visiting The Vestigator, don't forget to share!
Half of Nigerian companies (50%) expect to be targeted by external fraud next year, while 41% anticipate incidents of insider fraud—both the highest rates in the region.
The report also highlights a worrying trend in executive safety: one in three (33%) security leaders in Nigeria say threats or violence against senior executives have risen sharply over the past two years. Global investors share these concerns, with nearly seven in ten (68%) institutional investors stating that company executives contribute 30% or more to the overall value of their investments—making their protection a strategic priority.
As risks grow, Nigerian organisations are taking action. A striking 90% of security chiefs say they plan to increase their physical security budgets in the coming year—higher than both the Sub-Saharan Africa (81%) and global (66%) averages.
The report draws on insights from 2,352 Chief Security Officers (CSOs) across 31 countries, representing companies with a combined annual revenue of over $25 trillion. In Sub-Saharan Africa, 174 CSOs participated, including 58 from Nigeria. It also features perspectives from 200 global institutional investors managing over $1 trillion in assets.
Economic uncertainty continues to fuel security challenges. Nearly half of Nigerian security leaders (47%) believe economic instability will become a major security threat in 2026—up from 40% last year. Financial hardship is also driving insider threats, with 55% of Nigerian CSOs citing low pay and lack of incentives as the top reason behind employee misconduct. This figure is the highest globally, alongside Kenya, compared to a 36% global average.
“Financial pressures mean fraud has become part of everyday life, and some individuals can be easily exploited,” said Jonas Ahl, Managing Director of G4S Nigeria. “However, Nigeria remains a land of opportunity, and many companies are eager to invest here. The key is to prioritise security—through real-time intelligence and tailored strategies that account for the specific risks in different parts of the country.”
The study also warns that civil unrest could become a major risk factor next year, with nearly one in three companies identifying it as a top concern. About 17% of Nigerian businesses expect to be affected by protests or demonstrations—well above the 10% global average.
In addition, 86% of Nigerian security chiefs say activist groups now pose a growing physical security risk to corporate assets and executives—higher than the regional (78%) and global (77%) averages.
“As in last year’s report, fraud remains the leading internal and external threat across the region—largely tied to economic instability,” said Christo Terblanche, Regional President of G4S Africa. “Yet, despite these challenges, we’re seeing encouraging signs of progress, particularly in planned investments in smart security infrastructure and AI-powered surveillance systems.”
Globally, the average company expects external fraud to impact 30% of businesses in 2026, while the regional average for Sub-Saharan Africa is 40%. In comparison, 45% of Nigerian firms experienced such fraud last year, showing the persistent scale of the challenge.
