According to the communique sent out to all DMBs and PSBs and signed by the Acting Director of Banking Supervision, CBN, Dr. Adetona Adedeji, the apex bank noted that financial Institutions leverage information technology to expedite the flow of funds among entities and for the provision of services to their customers.
It was therefore important to properly manage the technology infrastructure and platforms that support the operations of the financial institutions to safeguard the confidentiality, integrity and availability of information assets, as well as prevent financial loss and mitigate reputational risk.
The CBN further noted, “Cybersecurity threats have continued to evolve and become more complex, with increased frequency of threats such as phishing, ransomware, Distributed Denial-of-Service (DDoS) attacks, amongst others.”
