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    MarketForces Africa » Uncategorized » NCS Emphasises Collaboration With Financial Institutions to Mitigate Cyber Threats

    NCS Emphasises Collaboration With Financial Institutions to Mitigate Cyber Threats

    Julius AlagbeBy Julius AlagbeMay 29, 2024 Uncategorized No Comments3 Mins Read
    NCS Emphasises Collaboration With Financial Institutions to Mitigate Cyber Threats
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    NCS Emphasises Collaboration With Financial Institutions to Mitigate Cyber Threats

    The Nigeria Computer Society (NCS) on Tuesday emphasised the need for partnership between itself and financial institutions to mitigate cyber-attacks.

    The President, NCS, Dr Sirajo Aliyu, made this observation at a news conference in Lagos.

    Aliyu said that the recent surge in cyber-attacks targeting financial institutions underscored the urgency of collaboration between the NCS and the financial sector.

    “We call upon financial institutions to partner with us in implementing robust cyber security measures to safeguard against cyber threats and protect the interests of all stakeholders.

    “Also, the collaboration between the NCS and various states in advancing e-government and digital economy initiatives is commendable.

    “We must continue to foster partnerships that leverage technology to improve governance, service delivery, and economic empowerment at the grassroots level,’’ he said.

    Commending the Federal Government’s efforts in the Information and Communication Technology (ICT) sector, Aliyu, however, expressed concerns on the non-inclusion of the NCS in the Cyber Security Council.

    He said that the non-inclusion of the NCS in the Cyber Security Council as stated in the amended Cybercrime Act 2024 was a matter of concern.

    According to the NCS president, as a key stakeholder in Nigeria’s cybersecurity ecosystem, the NCS is committed to contributing its expertise and resources towards enhancing national cybersecurity.

    He urged relevant authorities to reconsider this decision and ensure that all relevant stakeholders are adequately represented in decision-making processes concerning cybersecurity.

    The NCS, Aliyu said, acknowledged the recent withdrawal of the proposed cybersecurity levy.

    He said that while the intentions were noble, it was evident that further discussions and evaluations were necessary to ensure that any future initiatives in this regard aligned with the broader interests of the nation’s digital landscape.

    The NCS president noted that the adoption of Artificial Intelligence (AI) by the Federal Government of Nigeria was a significant step towards harnessing technology for national development.

    “However, there is a need for comprehensive strategies and frameworks to ensure that AI deployment is inclusive, ethical, and beneficial to all sectors of society.

    According to him, the widespread adoption of AI across various domains of life presents both opportunities and challenges.

    He said that as the nation embraced AI technologies, it was crucial to prioritise education, skills development, and ethical considerations to maximise the benefits while mitigating potential risks.

    Also speaking at the event, Prof. Adesina Shodiya, the immediate past President, NCS, emphasised the need for inclusion  of experts in policy making concerning  the sector and involvement of experts in  the Cybersecurity Council.

    Shodiya said that any crime perpetuated on the nation’s critical infrastructure would affect the economy.

    He said that cybercrime was a crime against critical infrastructure and could have been addressed with the cybersecurity levy, if it had been properly coordinated.

    Sodiya stressed the need for collaboration, sensitisation and awareness on the Cybersecurity Levy.

    The vice president, NCS, Dr Charles  Onyeukwu, in his address, called on the government to reach out to professional bodies and count them as partners to make their contribution in policy making. #NCS Emphasises Collaboration With Financial Institutions to Mitigate Cyber Threats

    Ministry to Empower 10m Nigerians Through Artisan Programme –Minister

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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