Regulatory Alerts2018-06-27 | BSD/DIR/GEN/LAB/11/015Added · Updated
Exposure Draft of the Risk-Based Cyber-Security Framework and Guidelines for Deposit Money Banks and Payment Service Providers
The Central Bank of Nigeria (CBN) has released a draft of its risk-based cybersecurity framework and guidelines for deposit money banks and payment service providers. The framework outlines minimum cybersecurity requirements to enhance the resilience of these institutions against increasing cyber threats. It covers areas such as governance, risk management, cyber resilience assessment, operational resilience, and compliance with statutory and regulatory requirements. The CBN is seeking feedback from stakeholders before finalizing the guidelines, which are expected to take effect from August 1, 2018.