Connect with us

Nigeria In One Minute

Banks Urged to Collaborate against Cybercrime



Nigerian banks have been advised to collaborate and share vital information on cybercrime.

This, according to experts, would enable the financial institutions win the battle against cybercrime.

Speaking at the 2019 Bank Directors’ Association of Nigeria (BDAN) Conference in Lagos Thursday, directors of banks, operators in the financial technology space and security experts highlighted ways to mitigate the activities of hackers.

President of BDAN, Mrs Osaretin Demuren, who is also the Chairman of Guaranty Trust Bank, noted that sharing information would help the industry demystify the activities of hackers and cyber criminals thereby making them less effective in the financial sector.

Noting that in corporate governance, the board is the first line of defence, she said, “ignorance or lack of knowledge is not an excuse so we need to be well equipped. Gone are the days when you have to manage information. We need to share information so that we demystify what this is all about.

This Day, April 5, 2019

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now