NDPC Warns of Cyber Threats to Nigeria's Financial Systems

The National Data Protection Commission (NDPC) has issued a warning regarding coordinated cyber threats aimed at Nigeria’s financial systems and critical digital infrastructure. Babatunde Bamigboye, the head of legal enforcement at the NDPC, called for immediate action from organizations to handle personal data and assess technical vulnerabilities.

The commission emphasized the increasing risk of data breaches and service disruptions, advising organizations to implement robust technical measures, including appointing certified data protection officers, conducting privacy impact assessments, and adopting a zero-trust security architecture. The NDPC's advisory comes amid heightened regulatory scrutiny following an ongoing investigation into an alleged data breach involving Remita Payment Service Ltd and Sterling Bank.

The NDPC reiterated its commitment to ensuring compliance with the Nigeria Data Protection Act 2023, warning that failure to implement appropriate safeguards could expose millions of Nigerians to privacy violations and cyber risks.