…cyber insurance emerges as a vital tool for risk management. It provides a safety net for businesses, helping them cover the costs associated with data breaches, legal fees, public relations efforts, and business interruption. By alleviating some of the financial pressure, cyber insurance allows businesses to focus on recovering and continuing their operations after an attack.
It is gratifying to learn that National Information Technology Development Agency (NITDA) has introduced a bill to implement cyber insurance for businesses in Nigeria.
This is coming as the agency is encouraging Nigerian youths to participate in the ECOWAS Cybersecurity Hackathon, a regional competition aimed at promoting cybersecurity skills and awareness. The competition aims to foster a platform for young technology enthusiasts, ultimately enhancing the cyber workforce in the region.
With the steady increase in cyberattacks and the current talent shortage in cybersecurity, this hackathon presents a timely opportunity for Nigerian youths to showcase their skills and play a crucial role in securing the digital future of their country and the region.
Meanwhile, the cyber insurance bill…
