By Modupe Gbadeyanka
The need for capital market operators and other business leaders in the country to ensure they protect valuable intellectual property and business information in digital form against theft and misuse has been reiterated by the Nigerian Stock Exchange (NSE).
Executive Director, Market Operations and Technology of the NSE, Mr Ade Bajomo, stated this at the 4th Nigerian Capital Market Information Security Forum (NCMISF) on Thursday in Lagos.
At the occasion themed ‘Does your business have the resilience to withstand a disaster? The Business Case for Business Continuity Management,’ Mr Bajomo noted that cyber security is an increasingly critical management issue, which must be addressed head-on.
He said NCMISF was born out of the need to provide a platform for stakeholders and thought leaders in the information security space to share knowledge on Information Security, best practices and cyber breaches in Nigeria and the world at large.
According to him, as technology evolves and businesses become more prone to attacks, it was evident that business continuity could no longer be treated as an afterthought or a surplus cash flow item.
Mr Bajomo opined that, “It should become an integral part of operational planning and operational cost. The need for business continuity planning has grown rapidly in today’s fast-paced, volatile business climate and as such organisations cannot afford the risk of not having a continuity plan in place.”
Business continuity, which is the capability of the organisation to continue delivery of products or services at acceptable predefined levels following a disruptive incident is now considered a societal security issue, essential to protect a society or economy.
He noted that at the NSE, “We remain committed to executing several key innovations that are aimed at developing a more transparent and sustainable market, with structures to support the delivery of a wide range of investment products and ensure continuity.”
Adedapo Adesanya