The Central Bank of Nigeria (CBN) has been emphasizing the importance of cybersecurity for financial institutions. This call for banks to invest heavily in cybersecurity comes in response to the increasing prevalence of cyber threats and attacks that can compromise sensitive financial data and undermine consumer trust.
Investing in robust cybersecurity measures is essential for banks to protect their infrastructure, comply with regulatory requirements, and ensure the safety of their clients’ information. This may include adopting advanced technologies, conducting regular audits, and providing training for employees to recognize and respond to cyber threats.
The focus on cybersecurity reflects a broader global trend, as financial sectors around the world are prioritizing the safeguarding of digital assets to maintain stability and increase resilience against cyber risks.
