NDPC Warns of Cyberattacks on Nigeria's Financial Systems

The National Data Protection Commission (NDPC) has issued a warning regarding coordinated cyberattacks on Nigeria's financial systems, describing these as critical threats to the nation's digital infrastructure. The commission, led by Babatunde Bamigboye, called for immediate action from organizations to reinforce their data security frameworks.

An urgent data protection advisory was issued, highlighting the increasing vulnerability of institutions such as banks, payment platforms, telecommunications, and public sector digital services. The NDPC outlined several steps to mitigate cyber risks, including appointing trained data protection officers, implementing comprehensive privacy policies, and conducting data privacy impact assessments.

The 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.