COVID-19 Also Caused Cyber-Crime Pandemic—Obadare

By Modupe Gbadeyanka

The COVID-19 crisis did not only create a global health crisis but also a cyber-crime pandemic, the Acting Chief Risk Officer, Enterprise Risk Management at the Nigerian Exchange (NGX), Mrs Oluyemi Obadare, has submitted.

The cyber expert said this at the 9th edition of the Nigerian Capital Market Information Security Forum (NCMISF) organised by the exchange.

The event themed Navigating the Post-Pandemic Cyber Security Imperatives was held on Tuesday, November 23, 2021, and it had in attendance leading industry data privacy and security experts and capital market stakeholders.

The participants virtually shared actionable information and ideas on post-pandemic effects, survival strategies and optimal pathways for the capital market and the ecosystem at large.

Participants also had the opportunity to get a deeper understanding of present and developing trends in information security through case study presentations ranging from building resilience against ransomware, managing third-party risk in a digital world; and securing one’s online presence.

To shed light on these issues, the following topics were treated, Building Resilience Against Ransomware by John Anyanwu, Partner, Cyber & Privacy, KPMG; Managing Third-Party Risk in a Digital World by Chika Nwachukwu, Manager, Digital Risk and Cybersecurity, PwC; Information Security at Meristem Stockbrokers by Oladotun Olorunyomi, Head, IT, Meristem Stockbrokers Limited; and Securing Your Online Presence by Uwa Agbonile, CEO & Chief Software Architect, InfoWARE Limited.

In her opening remarks, Mrs Obadare noted that, “The coronavirus has accelerated a second digital revolution not seen since the dot-com boom of the early 2000s.

“Likewise, it has made criminal minds increasingly motivated to innovate and digitize their attacks, as there has been an increased demand for information online.

“COVID-19 did not only cause a health pandemic, but a cyber-crime pandemic too and the potential impacts are here to stay. NGX has, therefore, provide a platform for professionals and subject matter experts in the Information technology and financial industry to collaborate and share ideas on information security best practices.”

NGX continues to uphold information security best practices evidenced by its ISO 27001:2013 certification for the 8th year running. This could not have been achieved without an intentional and deliberate approach to cybersecurity.