The Central Bank of Nigeria (CBN) has announced that last year alone banks in Nigeria lost about US$246 million to cybercrime.
Taiwo Longe, the CBN’s chief information security officer, said this while speaking at the National Cyber Security Forum (NCSF 2014) organised by the Office of the National Security Adviser (ONSA) in Lagos.
Longe said cybercrime had attained an alarming dimension in Nigeria, with its cost greater than that of narcotics.
He said perpetrators of Nigerian bank-targeted cybercrimes deploy web phishing, network intrusion, emails and others methods, and urged organisations to be serious about getting a security blueprint in place.
Longe also called for proper information security management to reduce vulnerability and risk of attack.
“With the growing threat of cybercriminals, the need for policy framework to address the menace has become more imperative now than ever before,” he said. “Awareness is another key element in driving the process of fighting cybercrimes because people must be aware of the potential risk they face so that they could take precautionary measures.”
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