Serianu Limited

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Central Bank of Nigeria's guidelines on cyber security risks

The Central Bank of Nigeria (CBN) has issued a letter and a draft document outlining how financial institutions in the West Afrikan country should deal with cyber security related risks. The main reason it has issued the draft "risk-based cyber-security framework", CBN explains, is because of the recent

81% of cyber security incidents in Nigeria are unresolved or unreported

A 2017 report titled "Demystifying the Africa Cyber Security Poverty Line" has revealed that approximately 81% of cyber security incidents in Nigeria go unreported or unresolved. Furthermore, the report revealed that cyber crime cost Nigeria an estimated $649 million in 2017. The report was published by Serianu Limited