TECHDIGEST– Mastercard, in collaboration with the Committee of E-Banking Industry Heads for Nigeria (CeBIH), has taken a bold step towards combating fraud and cybersecurity threats by hosting a groundbreaking Cyber Security Forum in Lagos, Nigeria. With cyber risk being one of the top concerns organizations face today, this annual event aims to address the escalating challenges faced by Nigeria in terms of cybersecurity and fraud.

The statistics are alarming. According to the Nigeria Inter-Bank Settlement System (NIBSS), a staggering 91% of fraudulent attacks were successful in the past year, resulting in substantial financial losses.

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The Anti-Corruption Agencies of Nigeria have revealed that illicit financial crimes drain nearly $18 billion from the economy annually. As digital payments and services continue to rise, organizations become increasingly vulnerable to pervasive, sophisticated, and intelligent security threats.

Recognizing the urgent need for proactive risk management, Mastercard, through the Cyber Security Forum, provided valuable insights into the regional cyber threat landscape. With a particular focus on the financial services sector, which has become a prime target for cybercriminals, attendees gained a deeper understanding of common attack methods, motivations, and targeted assets.

Cutting-edge fraud prevention techniques and tools were showcased, including Mastercard’s strategic threat intelligence data. This advanced analytics solution employs real-time monitoring to identify potential threats, ensuring rapid detection and prevention of fraudulent activities while enhancing customer service and account protection.

Celestina Appeal, the Chairman of the Committee of e-Business Industry Heads (CeBIH), emphasized the importance of collaboration among stakeholders in the payment ecosystem to effectively combat cyber-attacks. Highlighting the relentless nature of cybercriminals’ schemes and their constant innovation, she urged concerted efforts to prevent continuous cybersecurity attacks.

Mastercard’s Cyber Security Forum aligns perfectly with its vision of creating a secure and seamless payments environment. By empowering customers with the latest knowledge and tools, this initiative equips businesses with the necessary defenses to safeguard against evolving cyber threats.

Furthermore, as part of their commitment to fighting fraud, Mastercard proudly sponsors the CeBIH Quarterly sessions. These gatherings provide a platform for industry experts to share insights on the latest trends in fraud prevention and disseminate best practices for customer protection while promoting cyber security throughout Nigeria and beyond.

In the battle against cybercrime, Mastercard stands at the forefront, arming organizations with the means to protect themselves, their customers, and the integrity of the financial ecosystem. The Cyber Security Forum heralds a new era of proactive defense, fostering collaboration and empowering businesses to stay one step ahead in the ever-evolving landscape of digital threats.

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TECHDIGEST – In line with the implementation of the National Digital Economy Policy and Strategy (NDEPS), the National Information Technology Development Agency (NITDA), has assured the Committee of e-Business Industry Heads (CeBIH) of its commitment towards employing Public, Private Partnership (PPP) to facilitate a seamless integration towards achieving a digital Nigeria.

The Director General of NITDA)l, Mallam Kashifu Inuwa Abdullahi CCIE made the assurance when he received team of CeBIH, led by their Chairman Mr Adeyemi Atanda on a familiarisation visit to NITDA’s Corporate Headquarters in Abuja.

Abdullahi identified three things that drive digital economy as broad band penetration, digital Identity, and the payment system. He explained that using digital devices to do financial transactions, makes work and life less stressful, increase productivity and creates opportunities to maximize time and energy.

He said, “NITDA is rebranding, its mission, vision, and core values have been changed recently to meet the present dynamics of world best standards, the Agency’s core values are People first; we exist to serve you, Innovation; we are disrupting conventionalism, quoting former Microsoft COO Bob Herbold, “disrupt your business before someone else does” and Professionalism; we want to put global best practices to use, we are setting standards for other Ministry, Departments, and Agency’s (MDAs) to follow.”

The DG further said, “Collaboration with CeBIH is critical, wet cannot do it alone, our mandate is so huge, so we are glad to partner with you to deliver service to Nigerians.

He added that NITDA is currently in collaboration with Microsoft, Cisco Systems, Inc., Mass Challenge, other private entities and government bodies like NNPC, CBN, etc to ensure 95% digital literacy by 2030.

While commending the CeBIH on its resolve to partner with NITDA, Abdullahi urged the team to adopt some of NITDA’s operating models.
He said, “to be innovative one must look outside the box. We challenge startups to come up with ideas that can resolve existing problems, you cannot allow someone to experiment in your life environment. Financial inclusion is key; therefore, it is important that we work together. There are several programs that we can partner on as identified in NITDA’s Strategic RoadMap and Action Plan (SRAP), there are 63 initiatives there” he said.
Advising on areas that NITDA and CeBIH can partner, he suggested that an innovation challenge can be organized with the Nigerian Tech and Innovation Ecosystem. He also agreed that both organisations can collaborate on capacity building, cyber security and guaranteed that they would also be involved in the redraft of the 2007 NITDA Act bill.

“Our regulations are developmental, and we cannot be innovative within the confines of regulation. Our understanding of regulation is to unlock opportunities for you and protect consumers to create the enabling environment,” said the NITDA DG on the need for amendment of the 2007 NITDA Act bill.

According to the NITDA boss five main stakeholders were going to be engaged towards amendment of the bill, the higher institutions, the corporate organizations, the government, Venture Capital or Angel Investor and the Entrepreneur.
He mentioned areas where NITDA is currently engaging in capacity building especially with the use of mass open online courses platform, where so far 57,000 Nigerians have been trained and additional 6,625 individuals in 11 states across the nation, are currently being trained on productivity tool, digital content creation and digital marketing.

He said the new cyber security policy assigns certain roles to NITDA, one of which is setting standards and encouraging domestic solutions to cyber security challenges. This he believes is another area for partnership.

On his part, the Chairman Committee eBusiness Industry Heads, Mr Adeyemi Atanda while appreciating NITDA’s innovative contributions to a digital economy had identified key areas for collaboration on STEM boot camp program as facilitators to help enrich the curriculum, capacity building, cyber security, and being on board the stakeholder’s forum on the redraft of the NITDA Act Bill.

He maintained that innovation is the bedrock for all the things done in the banking sector, “we want these innovations to have a direct impact on the Nigerian economy”.

In another development, the DG NITDA has commended Adamawa State Primary Health Care Development Agency for developing a user friendly mobile application that provides real-time and context-specific support for healthcare workers.
Abdullahi made the commendation when he received the Executive Director, Adamawa State Primary Health Care Development Agency, Dr Sulaiman Saidu Bashir and his management team on a working visit to the Agency’s Corporate Headquarters, Abuja.

The NITDA boss said that, “I must commend Adamawa Primary Health Care Development Agency on the giant strides it recorded while developing Digital Health Application, it is a laudable initiative.”

He further said that, “Innovation and capacity building will grow the economy of our country considering the strategies and frameworks put in place on the basics and fundamentals of research and innovation.”

The DG also called on the Adamawa Health Care Development Agency to key into NITDA’s several initiatives which are in line with the Strategic Roadmap and Action Plan (SRAP) 2021-2024.
He added that digital research, capacity building and human capital are the backbone of achieving the growth of digital health sector in Nigeria.

The DG expressed his excitement on how the health institution chose to visit NITDA and sought for collaborate in order to fast-track the growth and development of digital economy in Nigeria.

He assured the visitors of outmost support and collaboration on capacity building and human development which falls under the digital literacy and skills pillar of the SRAP.

On his part, the Executive Director Adamawa Primary Health Care Development Agency, Dr Sulaiman Saidu Bashir, said that his Agency has done a lot in the area of developing an application device called ALMANACH, an innovative user-friendly mobile application

“ALMANACH is installed on mobile devices and guides healthcare staff steps by steps through a structured consultation to ensure that all relevant information is obtained and  recorded. It also includes nutrition assessment and  guides healthcare workers to check routing preventive action (e.g; Deworming, Vitamin A, etc). The tool ensures that health workers adhere to clinical approved protocols.

“We have achieved a lot with the little resources at our disposal and we are here seeking for collaboration and support from this noble organisation in the areas of IT infrastructures and human capital development,” he added.

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