CBN to implement more policies to tackle cybersecurity challenges

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CBN to implement more policies to tackle cybersecurity challenges
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According to him, issues such as cybersecurity threats, data breaches, and digital fraud are persistent concerns that could erode ...

The Central Bank of Nigeria says it will continue to implement more policies to tackle cybersecurity challenges, foster innovation to ensure stability and integrity of the financial system.

According to him, issues such as cybersecurity threats, data breaches, and digital fraud are persistent concerns that could erode consumer confidence in the system. Ikeazor said the digital banking platforms have made financial services more accessible to millions of Nigerians, fostering greater financial inclusion and convenience.

Also, the Chief Convener and Chief Executive Officer of FITC, Mrs Chizor Malize, said the emergence of fintech has revolutionised financial services, shifting consumer behaviour toward digital consumption and away from traditional brick-and-mortar establishments globally. Malize added that Nigerian banks such as Providus Bank, GTBank, and Stanbic IBTC, and others were embracing fintech innovations to meet evolving consumer demands.

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