Chartered Institute of Bankers of Nigeria (CIBN) in partnership with Digital Jewels Africa (DJA), a leading IT Governance, Risk, and Compliance (GRC) firm, organized a high-impact workshop on Thursday, December 5, 2024, at the Black Diamond Hotel, Victoria Island, Lagos.

The workshop Themed “A Cyber Resilience Table Top Simulation Exercise for Board Members and Executive Management of Banks,” aimed to tackle the increasing cybersecurity challenges in Nigeria’s banking industry. It equipped senior executives and board members with effective tools and strategies to combat evolving cyber threats.

In his address, the First Vice President of CIBN, Mr. Dele Alabi, FCIB (representing the President and Chairman of Council. Prof. Pius Deji Olanrewaju, Ph.D,FCIB, emphasized the critical role of cybersecurity in today’s digital economy. “As leaders in the banking sector, it is our responsibility to stay proactive in identifying and mitigating cyber risks.

This workshop provides the tools and insights necessary to strengthen our cyber resilience,” he stated.

Also speaking at the workshop, The Group Managing Director and CEO of Digital Jewels Africa, Mrs. Adedoyin Odunfa, delivered an engaging presentation highlighting critical issues in the ever-changing cyber risk landscape.

 She discussed emerging threats, including third-party vulnerabilities and insider threats, and stressed the importance of safeguarding data, which she referred to as the “Digital Crown Jewels” of modern organizations. “Enhancing our cyber resilience posture is essential to making it harder for attackers and minimizing their rewards,” she noted.

Mrs. Odunfa further proposed actionable strategies to bolster resilience, such as adopting automated controls and fostering collaboration within the banking ecosystem.

“This initiative represents a major leap in empowering Nigeria’s banking leaders with the knowledge and skills necessary to protect their institutions, ensuring continued trust and stability in the financial sector,” she added.

Participants engaged in dynamic discussions about the implications of emerging technologies like Artificial Intelligence (AI) and explored strategies to address AI challenges, including job displacement, privacy concerns, and security risks.

The workshop emphasized the importance of strategic governance frameworks, talent development, and collaborative efforts to fortify defences against cyberattacks.

The 2nd part of the session involved a closed door immersive incident response simulation which provided deep insights and practical actionable next steps in handling cyber incidents within Banks.

About Digital Jewels Africa : Digital Jewels Africa is the leading IT Governance, Risk and Compliance (GRC) Firm in Africa with deep competencies in Cyber and Information Security, Data Privacy and Protection, Data and IT Governance, IT Risk Management, Project Management, e-business and Knowledge Capacity Development.

The Firm is certified to the ISO/IEC 27001:2013 (Global Information Security Standard) and the ISO 9001 (Global Quality Management Standard) as well as being a Qualified Security Assessor for the Payment Card Industry Data Security Standard (PCIDSS QSA) with jurisdiction over the CEMEA (Central Europe, Middle East, and Africa) region, making it the only such professional services firm in Africa to be so accredited. Digital Jewels provides cutting-edge solutions to help organizations navigate the complexities of the digital age. Learn more at www.digitaljewels.net.

About the Chartered Institute of Bankers of Nigeria (CIBN) Center for Financial Studies  The CIBN Centre for Financial Studies is a wholly owned subsidiary of the Chartered Institute of Bankers of Nigeria, established in 2013. It is charged with providing thought leadership on topical and emerging issues in the banking and finance industry and conducting activities that serve to fulfil the Institute’s advocacy mandate.

The Chartered Institute of Bankers of Nigeria is the premier professional body for bankers in Nigeria, committed to promoting ethical standards, education, and professional excellence in the banking industry. With a history of fostering innovation and trust, CIBN plays a vital role in strengthening the country’s financial ecosystem. Learn more at www.cibng.org