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CBN Mulls Stringent Regulations to Address Fintech Security Challenges

CBN Ways and Means

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By Adedapo Adesanya The Central Bank of Nigeria (CBN) says it will continue to implement more policies to tackle cybersecurity challenges and foster innovation to ensure the stability and integrity of the financial system, especially for fintech. The Deputy Governor of Financial Systems Stability at CBN, Mr Philip Ikeazor, said this during a two-day Financial Institutions Training Centre (FITC) Fintech Conference held in Lagos themed Building Trust in the Digital Age: Balancing Performance with Compliance. According to him, issues such as cybersecurity threats, data breaches, and digital fraud are persistent concerns that could erode consumer confidence in the system. Mr.

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