The Central Bank of Nigeria (CBN) has released framework/guidelines to protect Financial Institutions against cyber attacks.
This was contained in a memo released by the apex bank on Tuesday, August 17, titled ‘Exposure draft of the risk-based Cyber-security framework and guidelines for Other Financial Institution (OFI)’.
According to CBN, the framework was necessitated by the number and sophistication of cybersecurity threats and attacks against the OFIs.
“Due to the recent increase in the number and sophistication of cybersecurity threats and attacks OFls, it has become necessary and mandatory for the sub-sector to strengthen its cyber resilience if it is to remain safe and sound.
“Consequently, the CBN is releasing the draft framework and guidelines stipulating minimum requirements for enhancing cybersecurity,” she said.
Furthermore, CBN urged the OFIs to forward their input on the draft to the OFI supervision department of the apex bank on or before September 17, 2021.
