The Central Bank of Nigeria (CBN), has assured information security stakeholders and the general public of its collaboration to check the rising incidence of cyber-attacks within Nigeria’s cyberspace.
Director, Payments System Management Department, CBN, Musa Jimoh, in his keynote address at the annual Information Security Society of Africa – Nigeria (ISSAN), Cybersecurity Conference in Lagos, reiterated the apex bank’s commitment to building a sustainable payments ecosystem in the country by implementing systems such as Fully-Verified.
He commended ISSAN for organizing the event, stressing that CBN will continue to collaborate with organisations that are committed to addressing the rising activities of cyber-attacks.
Also speaking, President of FinTech Association of Nigeria (FinTechNGR), Ade Bajomo, said to adequately address the rising rate of cyber-attacks, organizations should embrace collaboration and information sharing on cyber breaches.
He noted that organizations keeping silent when they had been attacked will not help others, stressing that full disclosure, synergy and information sharing on reported cyber-attacks and how it was managed would guide other organizations to put preventive and counter-measures in place.
He called on organizations to constantly upgrade their technology to counter cyber-attacks, urging them to have data backup.
…to adequately address the rising rate of cyber-attacks, organizations should embrace collaboration and information sharing on cyber breaches.
The Co-founder/Chief Visionary Officer, Digital Encode, Dr. Adewale Obadare, during the panel session, urged increased collaboration amongst stakeholders, stressing the need to strike a balance between investments in people, technology, and processes to fight cyber-attack and fraud.
He also stressed the need to build cybersecurity intelligence quotient, comprising Augmented Intelligence to check what is happening on the system real time; Anticipatory Intelligence to analyse what could happen; and Assistive Intelligence to determine what needs to be done.
He also recommended that digitization, digitalization and digital transformation should be addressed.
In his welcome address, ISSAN President, Dr. David Isiavwe, said the conference was devoted to further expose the new threats and trends in the cyber security space and also offer practical steps on what businesses and individuals need to know and do to check the rising tide of the activities of cyber-criminals.
He observed that cyber attackers are getting more sophisticated globally, which is an aftermath of the COVID-19 pandemic, stressing that greater awareness must be created to minimize attacks on businesses that may result in losses by various organizations.
Isiavwe, who is also a General Manager at Ecobank, urged customer awareness as well as collaboration by all stakeholders.
