UK’s Department for Business and Trade (UKDBT) in Nigeria, Mark Smithson, and Deputy Country Director and Trade Adviser Defence and Security UKDBT, Morayo Adekunle, at the Cybersecurity Roundtable hosted at the Nigeria Exchange Group in Lagos, recently.
The UK is uniquely placed to partner with Nigeria to raise awareness and tackle emerging threats and cybersecurity challenges affecting both countries, says Mark Smithson, Country Director, UK’s Department for Business and Trade (DBT) in Nigeria.
Smithson gave the assurance in a statement by the British High Commission on Wednesday following a stakeholders’ roundtable to discuss practical steps to address Nigeria’s cybersecurity. challenges.
He noted that the key takeaways from the roundtable included the importance of public-private partnerships in combating cyber threats and the need for continuous education and training for cybersecurity professionals.
The roundtable highlighted the development of effective strategies to combat cybercrime and the promotion of cybersecurity awareness among individuals and organisations.
According to Smithson, the roundtable emphasised the critical role of collaboration and information sharing to foster a synergised approach to addressing Nigeria’s cybersecurity challenges, leveraging the collective expertise of participants.
He said the roundtable also sought to establish a platform for continuous collaboration and knowledge exchange among stakeholders from various sectors to enhance cybersecurity practices.
“Identify and assess cross-cutting needs and challenges across regulatory, supply, and demand sides, to inform future cybersecurity strategies and policies, and create a platform that enables demand and supply side actors to have visibility and access to state-of-the-art cybersecurity solutions that benefit all,” he said.
One of the participants, Kashifu Inuwa Abdullahi, Director General, National Information Technology Development Agency (NITDA), noted cybersecurity was a shared responsibility that required coordinated action at every level.
“Together, we must take proactive steps to safeguard our digital sovereignty, protect our critical information assets, and build a resilient, secure future for all,” he said.
Haruna Jalo-Waziri, Chief Executive Officer, Central Securities Clearing System (CSCS) also noted that cyber threats were becoming sophisticated, diverse, and pervasive.
According to him, businesses in Nigeria face an alarming volume of attacks, with financial services being particularly vulnerable.
He said addressing these emerging threats demanded a security culture rooted in continuous education and awareness.
“Cybersecurity is not a challenge any organisation can tackle in isolation. It requires coordinated efforts, cross-industry partnerships, and a collective commitment to protecting our digital future,” he said.
Also, Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited said cybersecurity threats presented a serious economic risk that could undermine Nigeria’s vision as Africa’s digital powerhouse.
“It has a concerning impact on Nigerian banks, which lost ₦14.65 billion to electronic fraud in 2021, a 187 percent increase from 2020,” he said.
