How breach disclosure and liability laws could improve Nigeria’s cyber security posture

In the last few years, various sectors of the Nigerian economy have been undergoing digital transformation. As the country gradually transition from the margins to the mainstream of the digital economy, we are increasingly exposed to new risks that threaten our personal, corporate and national security. Some of the new risks posed by this increased digitization of our society include: data breach, cyber heist, identity theft, etc.

In April this year, Kaspersky Lab published a report about the activities of a notorious hacking group known as Lazarus, allegedly responsible for the theft of 81 million dollars from the Central Bank of Bangladesh in 2016. The report stated that Lazarus Group malicious software samples typically used for cyber fraud appeared in financial institutions in Nigeria and some other countries.

Furthermore, the Nigerian Senate a few weeks ago raised an alarm about the threatening dimensions of cyber-attacks on Nigerian firms. Similarly, the CBN Governor during the recently concluded Nigeria Electronic Fraud Forum (NeFF) Stakeholders Workshop on Cybercrime, called for an appropriate legal framework to tackle the increasing wave of all forms of cybercrime in the country....

Please see link below for the rest of the article:

https://medium.com/@clickwells/https-medium-com-how-breach-disclosure-law-could-improve-nigerias-cyber-security-posture-61995a8065b1