Nigeria's data regulator warns of cyber threats to financial systems
via Punch Nigeria2 min read
The Nigeria Data Protection Commission NDPC has issued an alert regarding coordinated cyber threats targeting Nigeria's financial systems and critical digital infrastructure. In a Data Protection Advisory, the commission stated that its technical assessment revealed "shadowy threat actors" conducting operations against key national systems. The NDPC warned that institutions providing banking services, payment platforms, telecommunications, cloud infrastructure, and public-sector digital services are increasingly vulnerable, raising the risk of data breaches and service disruptions. The advisory, signed by Babatunde Bamigboye, Head of Legal, Enforcement and Regulations, urged organizations handling personal data to enhance their technical and organizational measures to protect the privacy of Nigerians, in line with the Nigeria Protection Act, 2023. The NDPC recommended appointing trained Data Protection Officers, implementing comprehensive privacy policies, and conducting Data Privacy Impact Assessments. It also emphasized stronger technical safeguards such as multi-factor authentication, zero-trust security architecture, network segmentation, robust identity and access controls, and continuous patch management. The regulator also highlighted the importance of securing cloud infrastructure, APIs, databases, and access credentials, along with implementing real-time monitoring, logging, threat detection systems, encryption, and secure credential management. Organizations are adv
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