The Central Bank of Nigeria, CBN, has issued an Exposure Draft of the Risk-based Cyber-security Framework and Guidelines for Deposit Money Banks, DMBs and Payment Service Banks, PSBs, in a bid to manage technology platforms and infrastructure used in running financial operations in banks and other financial institutions.
The apex bank
disclosed this in a letter to all DMBs and PSBs attached to the guidelines and
framework signed by the Acting Director of Banking Supervision, CBN, Dr.
Adetona Adedeji.
CBN said: “The
Nigerian financial system has grown remarkably in recent years with increases
in products, services, institutions and stakeholders.
“Financial
Institutions have increasingly leveraged Information Technology to serve their
customers and this has led to rapid evolution in the threat landscape.
“It is
necessary that the technology infrastructure and platforms that support
financial institutions operations should be managed effectively to promote a
sound financial system.
“Consequently,
the CBN has revised the Risk-Based Cyber-security Framework and Guidelines for
DMBs and Payment Service Banks (PSBs) to provide guidance in the implementation
of cyber-security programmes and enhance resilience.
“The revised
framework addresses the gaps that have arisen due to the passage of time and
outlines the minimum cyber-security controls to be put in place”.