James Emejo
The Central Bank of Nigeria (CBN) yesterday released the Risk-Based Cybersecurity Framework and Guidelines for Other Financial Institutions (OFIs), following the recent increase in the number and sophistication of cybersecurity threats against financial institutions.
The central bank also set January 1, 2023 as the effective date for full compliance with the provisions of the guidelines.
The bank said the directive became mandatory for institutions to strengthen their cyber defenses if they were to remain safe and sound.
The circular dated June 29, 2022, and signed by the CBN Director, OFIs Department, Nkiru Asiegbu was addressed to all OFIs under the regulation of the banking sector regulator.
The apex bank added that the guidelines represented the minimum requirements to be put in place by all OFIs.
The regulator stressed that the safety and soundness of OFIs required that they operate in a safe and secure environment, hence the…
Source: Thisday Newspaper
