The Central Bank of Nigeria (CBN) says
The Central Bank of Nigeria (CBN) says it is developing a Risk Based Cyber Security Framework for banks and pay find ment service providers to combat internet fraud in the country. The Central Bank Governor, Mr Godwin Emefiele, said this on Thursday in Abuja at the 2018 Nigeria-JP Morgan Chase Cyber Security Conference. Emefiele, who was repr business esented by the Deputy-Governor, Financial System Stability, Mrs Aisha Ahmad, said the framework would ensure appropriate cyber security of data in Nigeria’s banking system. “Technology has transformed the way we learn, communicate, deliver services, conduct financial tran house sactions and even experience entertainment. “However, these new conveniences of modern technology have ushered in complex security challenges and cybercrime. “These range from identity and intellectual property theft, phishing, email spamming, virus dissemination to sophisticated hacking and theft by digital crime syndicates. “A recent stud