Metro
ISSAN Calls for Collaborative Efforts to Check Rising Cyber Threats
Cybersecurity stakeholders under the auspices of Information Security Society of Africa – Nigeria (ISSAN), have called for an urgent review of the National Cybersecurity Protection Act of 2015 to meet with current realities. This is as Speakers and Panelists at the Quarter 1, 2022 ISSAN Cybersecurity Conference with the theme: “Payment Systems Platform Security” in Lagos, also made case for a robust collaboration and coordinated efforts by all stakeholders including the government to stem the rising wave of cyber threats in the nation’s payment system platforms. They reiterated the need for a Cyber Insurance Policy for the industry.
President of ISSAN, Dr. David Isiavwe, who spoke on behalf of the association, stated that as the Covid-19 pandemic is gradually easing out, organizations are now settling for hybrid way of working and providing services for customers while being mindful of the enlarged cyber threat. He noted that new forms of attacks are being contrived and implemented by criminals through various means on individuals, nation states and corporate bodies, stressing that cyber security gate keepers are not spared as large sums of money are usually at risk in every successful attack.
According to him, “What we see on the horizon is that Business Email Compromise (BEC) attacks are becoming alarming; Ransomwares attacks are not relenting. There are more phishing and password targeted attacks. Denial of Service (DoS) and Distributed Denial-of-Service (DDoS) attacks remain a growing problem. The loss globally is colossal. In Africa, Nigeria is expected to lead in terms of estimated loss due to our size. There is therefore the urgent need to brainstorm on how to keep payment systems platforms safer,” he said.
For a way forward, Dr. Isiavwe who is also a General Manager at Ecobank Nigeria, emphasized that banks and organizations need to be proactive, keep customers educated and updated on new threats and trends in the cyber space, automate and continuously monitor their systems and infrastructure, and also place high premium on artificial intelligence, machine learning, robotics, and data analytics.
In his keynote address, Director, Payment System Management Department, Central Bank of Nigeria (CBN), Musa Jimoh commended the activities of ISSAN at enhancing a safer and secured payment ecosystem, stressing that the apex bank is committed to initiatives that would promote and enhance payment system security to check cyber fraud in the nation’s financial system. He maintained that the financial sector cannot afford to fail as the payment system is vital to the functioning of any economic system.
According to him, “Data security is important for customers and a tool for financial inclusion. Banks are the custodian of customers’ information based on trust and should therefore put structures in place to prevent breach and information theft. They should not compromise customers’ credentials as it would give cyber criminals access to defraud them.”
Jimoh further stated that the entrance of Fintechs to the financial landscape has engendered stiffer competition, noting that “all responsible officers in charge of information security in organizations should keep track and always check and see the right things are done for the entities that are allowed to connect to their infrastructure. Banks should address infrastructure deficiencies, ensure operational resilience, introduce second or multi-factor authorization, ensures banking payment infrastructure are formidable, address privacy violations, carry out end to end encryption to protect stored data, and also adhere to KYC provisions to avoid terrorism financing and money laundering,.”
In her technical presentation, Managing Director, CreditRegistry Plc, Dr. Jameela Ayedun, recommended a collaborative approach by banks, CBN, government agencies such as National Identity Management Commission (NIMC), Nigerian Communications Commission (NCC), Nigeria Inter-Bank Settlement System (NIBSS) and others to enhance cyber security.
According to her, “Cyber security is the responsibility of all. The cyber criminals are still on rampage therefore we must protect our payment systems and not give anything to chance. We must educate our consumers and should not be a silent victim. The payment service providers must have the basic requirements. Government also have role to play in this regard. We should emphasize privacy and integrity of our payment systems.”
Also, in his technical presentation titled: Anatomy of the New Fraudsters – A Nigeria Perspective, Head, Growth and Partnership – West Africa, BPC Technologies, Emmanuel Obinne, observed that cyber frauds transcend borders and boundaries. He gave a rundown of different types of frauds and maintained that relevant cyber laws should be put in place to check cyber criminality.
According to him, “Fraud management is a journey and not a destination. Proper laws should be in place to punish cyber criminals. Organizations should regularly upgrade their payment systems and security to avoid vulnerability. This will also fast track authorization and authentication of transactions. Second factor authorization is also important to check fraud. The customers must constantly be educated to make them have more confidence in the payment system.”
Other Panelists at the hybrid summit apart from Dr. David Isiavwe, include Chairman, Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), Yinka Tiamiyu; Chief Information Security Officer, Heritage Bank, Ighoakpo Eduje, and Managing Partner, Technology Advisors LLP, Basil Udotai. The session was moderated by Head, Internal Audit, FBN Holdings, Dr. Bode Oguntoke.
The Federal government has declared Friday, May 1, a public holiday to commemorate this year’s International Workers’ Day.
The Minister of Interior, Olubunmi Tunji-Ojo, made the announcement on behalf of the government.
In a statement signed by the Permanent Secretary of the ministry, Magdalene Ajani, the minister congratulated workers nationwide, commending their commitment and contributions to national development.
He noted that the dedication of Nigerian workers remains vital to the country’s growth and economic progress, urging them to sustain values of patriotism, productivity and diligence.
Tunji-Ojo also reaffirmed the government’s commitment to improving workers’ welfare, enhancing security and creating an enabling environment for economic expansion.
He called on Nigerians to remain peaceful and law-abiding during the celebration, encouraging citizens to reflect on the importance of unity and hard work in nation-building.
The Trade Union Congress (TUC) has expressed concern over the rising pressure on workers’ welfare and economic conditions of the country.
The Congress warned that it would embark on nationwide protest, if there is no improvement.
The warning was conveyed in in a communiqué jointly signed by the TUC President, Mr. Festus Osifo, and Secretary-General, Mr. Nuhu Toro, at the end of its National Executive Council (NEC) meeting in Abuja.
The Congress said the NEC meeting reviewed the state of the nation, developments within the congress, preparations for the 2026 May Day celebration, and other critical issues affecting Nigerian workers.
“The prevailing economic hardship has significantly affected the living standards of Nigerian workers, making daily survival increasingly difficult.
“We are closely monitoring the situation, and if there is no improvement, the congress will have no option but to mobilise workers in defence of their welfare.
“Government must urgently take concrete steps to address the rising cost of living and restore confidence in the economy,” it said.
The Congress said rising fuel prices, inflation, electricity tariff increases and insecurity had combined to erode workers’ purchasing power and living standards.
It noted that global developments, including the Iran–U.S. conflict, were further worsening economic pressures through higher energy costs and supply chain disruptions.
According to the TUC, Nigerian workers have not benefited from higher global oil prices but continue to face rising costs of transportation, food and essential services.
It urged the Federal Government to deploy excess crude revenue to cushion economic shocks and support vulnerable citizens.
The congress also called for urgent measures to stabilise fuel prices, improve electricity supply, and address insecurity nationwide.
It emphasised the need for policies that promote decent work, job security and social protection.
“The government must prioritise the welfare, dignity and security of Nigerian workers in all policy decisions,” it said.
The TUC further called for tax relief for manufacturing companies and workers to ease economic pressure and stimulate productivity.
On electricity, it condemned repeated tariff increases without improved service delivery and demanded fair pricing, universal metering, and an end to estimated billing.
The congress expressed concern over rising insecurity, describing it as a major threat to economic activities and workers’ safety.
It urged government at all levels to adopt coordinated, intelligence-driven strategies to protect lives, farms, businesses and critical infrastructure.
“A stitch in time saves nine,” the communiqué added.
A small-scale grocery seller from Plateau State, Ejiofor Akujieze, has emerged the grand prize winner of ₦5 million in the Golden Morn Golden Hunt, a nationwide consumer campaign by Nestlé Nigeria that rewarded Nigerians with a total of ₦80 million in cash and prizes.
Akujieze, who expressed surprise at his win, described the moment as life-changing. “It came as a shock to me. I won ₦5 million, and it will go a long way. I am very grateful,” he said, noting that the prize will support the expansion of his grocery business.
The Golden Morn Golden Hunt, which commenced in January 2026, recorded strong participation from consumers across the country, with over 200,000 entries received. Designed around Golden Morn’s smaller, affordable pack sizes to encourage wider participation, the campaign made it easier for more Nigerians to take part. At the end of seven draws, a total of 16,324 winners emerged, receiving cash prizes ranging from ₦10,000 to ₦1 million, alongside airtime rewards and exciting items such as washing machines, MacBooks, iPhones, and 55-inch televisions, in addition to the grand prize.
Speaking on the campaign, Omofasa Orhiunu, Category Manager, Healthy Cereals at Nestlé Nigeria, said the initiative was designed to connect more closely with consumers while giving them an opportunity to experience the brand.
“Golden Morn has been part of everyday life for Nigerian families, and with the Golden Hunt, we wanted more people to experience that,” he said. “It gave both our loyal consumers and new ones the opportunity to enjoy a nourishing product that fits into their daily routines, while also being rewarded in a simple and accessible way.”
Also speaking, Wassim Elhusseini, Managing Director and Chief Executive Officer of Nestlé Nigeria Plc, said the campaign reflects the company’s commitment to creating value for consumers beyond its products.
“For over 40 years, Golden Morn has been nourishing Nigerian families and earning their trust,” he said. “The Golden Hunt was our way of recognising that trust and giving back in a way that is meaningful and inclusive. What has been most inspiring are the real stories behind the wins, how this has made a difference in people’s lives. That is what truly matters to us.”
Golden Morn, a cherished homegrown brand, continues to provide wholesome nourishment made from carefully selected grains. It is enriched through its Grain Smart blend, which combines essential vitamins and minerals to support energy and overall wellbeing for individuals and families.
Through initiatives like the Golden Hunt, Nestlé Nigeria continues to strengthen its connection with consumers while delivering on its commitment to providing accessible, nutritious food and supporting thriving communities across the country.
