Nigeria: Financial Institutions Urged to Beef Up Cyber Security

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The Information Security Society of Africa-Nigeria (ISSAN) has called on the various financial institutions in Nigeria to tighten cyber security in order to reduce the risk of cyberattacks and also, to protect organisations from the deliberate exploitation of systems, networks and technologies.

This call came at the just concluded industry roundtable for information security stakeholders of banks in Nigeria themed: “Cyber Resilience In Organisations,” which held in Lagos recently.

The president, ISSAN, Dr. David Isiavwe, noted that cyber resilience was mandatory for all organisations, saying there is no telling where or when the next attack would happen.

While addressing various financial stakeholders he said, “the world of cyber security keeps changing every day, looking somewhat amorphous.”

“The threats are not going away soon and they are fuelled by increased dependence on technology by organisations attributable to the emergence of digitisation.

“The financial sector is particularly attractive to the attackers given its crucial role in a highly connected global financial system.”

The Director, Banking and Payment system, Central Bank of Nigeria (CBN),…

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