About The Seminar

The concept of information security in the financial industry is not merely an organizational priority; it is a cornerstone of trust, ensuring the stability and resilience of the entire economic infrastructure. The financial sector of Nigeria, a crucial pillar of the country’s economy, is undergoing a transformative digital revolution. As financial institutions navigate the complex terrain of evolving cyber threats, regulatory frameworks, and customer expectations, a holistic and proactive approach to information security becomes paramount. This webinar explores the landscape of information security in Nigeria’s financial sector, addressing key challenges, current practices, and emerging trends.

Topic:  Information Security in the Financial Industry

Date: January 17, 2024 | Time: 3.00PM (WAT)

Participation: Free

Challenges

The financial sector in Nigeria has witnessed a significant shift towards digitization, with banks, insurance companies, and other financial entities increasingly relying on interconnected networks and electronic platforms. This shift has opened new avenues for innovation but has also exposed the sector to evolving cyber threats and vulnerabilities including phishing attacks, ransomware, and sophisticated financial fraud schemes. In an environment where financial transactions occur in milliseconds and vast amounts of sensitive data traverse interconnected networks, the potential consequences of a security breach are staggering. Threat actors, ranging from sophisticated state-sponsored entities to opportunistic cybercriminals to the insider risks posed by disgruntled employees, are constantly refining their tactics to exploit vulnerabilities, necessitating a paradigm shift in the way the financial industry conceptualizes and operationalizes information security. Regulatory compliance adds another layer of complexity, with stringent data protection laws and industry-specific standards imposing rigorous requirements on how financial entities handle, process, and store sensitive information. Moreover, the interconnected nature of the global financial system means that a breach in one part of the ecosystem can have cascading effects, amplifying the urgency for collaborative and cross-sectoral efforts to fortify the collective defence against cyber threats.

Opportunities

In Nigeria, the financial sector presents a myriad of opportunities for information security professionals to play a pivotal role in safeguarding sensitive data and ensuring the integrity of financial systems. With the increasing adoption of mobile banking, online transactions, and digital payment systems, stakeholders in information security can contribute significantly to the resilience of financial institutions by establishing and maintaining effective cybersecurity frameworks. Moreover, the regulatory landscape in Nigeria is evolving, providing an additional avenue for experts to contribute to compliance efforts and the development of industry-wide standards. As financial institutions like Sterling Bank expand their digital footprint, the demand for skilled information security practitioners in Nigeria’s financial sector is poised to increase, making it a promising field for those dedicated to ensuring the confidentiality, availability, and integrity of financial data and systems.

Our Team

Muhammad Sirajo Aliyu

President, Nigeria Computer Society

Nihinlola Adeyemi

Member, Forbes Technology Council

Moderator

Bunmi Ajiboye

Chief of Staff, Office of the ED/COO, Sterling Financial Holdings Company Plc

Moderator

Adesina S. Sodiya

Professor of Computer Science and Information Security

Panelist

Abdul-Hakeem Ajijola

Chair, African Union Cyber Security Expert Group

Panelist

Oluseyi Akindeinde

Founder/CEO, Hyperspace Technologies LTD

Panelist

Robinson Tombari Sibe

Co-Founder and Lead Forensic Examiner of Digital Footprints Nig. Ltd

Panelist

Objective

The financial industry has undergone a profound transformation, evolving from traditional brick-and-mortar establishments to digital ecosystems driven by cutting-edge technologies such as blockchain, artificial intelligence, and cloud computing. This webinar will provide participants with a comprehensive overview of information security risks and best practices in the Nigerian financial sector. The goal is to empower participants with the tools and insights necessary to fortify the resilience of financial institutions against cyber risks.

Target Audience

The collaborative efforts between financial institutions, regulators, and cybersecurity experts are crucial to addressing the above stated challenges and fortifying the resilience of the Nigerian financial sector against evolving cyber threats. Thus this webinar aims to provide a platform for financial auditors, cybersecurity professionals, risk managers, compliance agencies, regulatory authorities, policymakers, and academics to converge, exchange insights, and strategize effective measures to safeguard sensitive financial information.

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E-mail: ijeoma@ncs.org.ng

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E-mail: taiwo@ncs.org.ng