The internet has been an important feature of modernization. Paradoxically, it has also been a veritable threat to security of nations. The implication of the internet as a security threat has been amply demonstrated in the rising incidence of cyber criminality across the world. The apparent virtual un-governability of the cyber space in Nigeria has provided a platform for the perpetration of cyber crimes, such as advanced fee fraud, terrorist recruiting and financing, hate speech, and ideo-religious radicalization, etc. Adopting a threat-import approach, predicated on secondary sources, this paper posits that poor governance of Nigeria’s cyber space has presented an opportunity for high incidence and prevalence of cyber malaise in the country. The paper submits that the prospect of mitigating the challenge rests with the entrenchment of a multi-stakeholder vigilant and resilient cyber security regimen capable of countering the activities of cyber criminals in a pro-active and co-ordinated manner.