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CIBN charges banks to strengthen cybersecurity

The Chartered Institute of Bankers of Nigeria (CIBN) has urged lenders to strengthen their cybersecurity architecture to protect themselves against attacks by fraudsters

 

President/Chairman of Council of the institute, Mr. Bayo Olugbemi, made the call while delivering his remarks at the 2020 CIBN Fellowship Investiture in Lagos at the weekend.

 

Olugbemi told over six hundred participants, who attended physically, or connected to the event across the globe through Zoom and YouTube, that while Nigeria has been bedeviled by myriads of challenges this year, ranging from drop in oil price, COVID-19, the recent #EndSARS protests, the attendant pocket of unrests across the country and now to the recession, the banking industry has remained resilient, providing succour for businesses and millions of individuals across the country.

 

He, however, urged lenders to continue to reinforce their risk management framework in tandem with government policies and also consider conducting more market research on how customer needs might change in the Post COVID era.

 

Also speaking at the event, Senior Partner, KPMG Nigeria & Chairman, KPMG Africa, Mr. Kunle Elebute, noted that global CEOs were beginning to acknowledge that the new wave of technological advancement comes with risks that cannot be ignored

 

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