Effect of Cyber Security on Organization Network: A Case Study of Selected Commercial Banks in Nigeria

There is an intense and increasing rate of attacks on the cyber network of organizations. This paper examines the effect of cyber security on the organization network of selected commercial banks in Nigeria. Three research questions that were raised in line with specific objectives guide this paper. The theoretical framework is the Technology-Organisation-Environment (TOE) theory. A descriptive survey design is adopted. The sample size is one hundred and ninety-two (192) IT employees of the selected banks. A multi-stage sampling technique was used to select respondents, and the instrument for data collection was a structured questionnaire. Data were analysed using frequency, percentage, Likert scale, and mean ratings. Findings reveal that to a very large extent, there were attacks on the cyber network of commercial banks in the study area. It also shows that the attacks are to a large extent helping to improve the digitalisation operation of the banks, the protection of customers' data and the awakening of the importance of synergy in the fight against cyber attacks. It further indicates, amongst others, that strategies in place for the security of the network of commercial banks range from intensification of collaboration/synergy in information sharing, regular upgrading of cyber technological infrastructures, to customer sensitization on basic cyber attacks preventive measures. It concludes that until adequate safety measures are put in place, clients’ monetary and other vital resources can be safeguarded. It, however, made vital recommendations for policy direction and implementation.