By Adedapo Adesanya
The United Kingdom Government has backed solutions offered by stakeholders from the government and private sector to address Nigeria’s cybersecurity challenges.
Recently, industry players met in Abuja and Lagos at the Nigeria Cybersecurity Stakeholder Roundtable organised with support from the UK’s Department for Business and Trade (DBT) to discuss practical steps towards eradicating the scourge.
According to a statement shared with Business Post, the roundtable had in attendance, top cybersecurity and tech experts from diverse sectors to engage in critical deliberations on current and emerging digital security issues. It emphasised the critical role of collaboration in addressing Nigeria’s cybersecurity challenges.
It emphasised the critical role of collaboration and information sharing in addressing Nigeria’s cybersecurity challenges including fostering a synergised approach to addressing Nigeria’s cybersecurity challenges, leveraging the collective expertise of participants.
They also agreed to establish a platform for continuous collaboration and knowledge exchange among stakeholders from various sectors to enhance cybersecurity practices.
It was also noted that efforts to identify and assess cross-cutting needs and challenges across regulatory, supply, and demand sides, to inform future cybersecurity strategies and policies.
The stakeholders also agreed to 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.
Key takeaways from the roundtable include the importance of public-private partnerships in combating cyber threats, the need for continuous education and training for cybersecurity professionals, the development of effective strategies to combat cybercrime and the promotion of cybersecurity awareness among individuals and organisations.
Commenting, Country Director for the UK’s Department for Business and Trade (DBT) in Nigeria, Mr Mark Smithson said: “As a recognised global leader in cyber security innovation across a range of applications, the UK is uniquely placed to partner with Nigeria to raise awareness and tackle emerging threats and cybersecurity challenges affecting our two countries.
Also speaking at the event, the Director General of the National Information Technology Development Agency (NITDA), Mr Kashifu Inuwa Abdullahi stated: “Cybersecurity is a shared responsibility that requires 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.”
On his part, the chief executive of the Central Securities Clearing System (CSCS) Plc, Mr Haruna Jalo-Waziri, emphasised: “As we all know, cyber threats are becoming more sophisticated, diverse, and pervasive. Here in Nigeria, businesses face an alarming volume of attacks, with financial services being particularly vulnerable. Addressing these emerging threats demands a security culture rooted in continuous education and awareness.
“Cybersecurity is not a challenge any organization can tackle in isolation; it requires coordinated efforts, cross-industry partnerships, and a collective commitment to protecting our digital future.”
Also speaking on the need for robust cybersecurity frameworks in Lagos, Chief Executive Officer of Nigerian Exchange Limited, Mr Jude Chiemeka stressed that such measures are essential to unlock growth potential and restore investor confidence in Nigeria’s digital future. He Sid:
“Cybersecurity threats present a serious economic risk that could undermine Nigeria’s vision as Africa’s digital powerhouse,” he said, highlighting the concerning impact on Nigerian banks, which lost N14.65 billion ($33 million) to electronic fraud in 2021 – a 187 per cent increase from the previous year.
Modupe Gbadeyanka 
Business Post Contributor