cyber security
Central Bank of Nigeria (CBN) has released a risk-based cybersecurity framework and guidelines for Deposit Money Banks (DMBs) and Payment Service Providers (PSPs) which they must comply with by January 1, 2019.
This is in line with its new licensing regime as well as in compliance with Nigeria Cyber security act of 2015.
In a circular to the concerned organisations which accompanied the framework and guideline, CBN noted that the framework represents the minimum requirements to be put in place by all DMBs in their respective cybersecurity programmes.
In the guideline made available to Nigeria Communications week, CBN stated that: “In recent times, cybersecurity threats have increased in number and sophistication as DMBs and PSPs, use information technology to expedite the flow of funds among entities.
“In this regard, threats such as ransomware, targeted phishing attacks and Advanced Persistent Threats (APT), have become prevalent; demanding that DMBs and PSPs remain resilient and take proactive steps to secure their critical information assets including customer information that are accessible from the cyberspace.
“DMBs/PSPs should note that for a…
