Developmental moves in the world involve the application of Information and Communication Technology. However, security implications are growing exponentially and need to be addressed to attract Foreign Direct Investments (FDI), says Adebayo Shittu, Minister of Communications.
Speaking at the Information Systems Audit and Control Association (ISACA) 8th Annual International Conference, held in Abuja, Shittu says the financial sector deserves protection from the cyber security professionals.
According to Shittu, the traditional banking was essentially paper-based and therefore void of cyber crime. In the financial services world of today, business transactions are fast leaving the four walls of brick & mortar branches to the clouds; increasing operations are being done via ATM, POS, Internet banking, Mobile Money, and NEFT; account opening is now possible on Social Media platforms such as Facebook.
“Besides, the information of all registered citizens of Nigeria is stored in the cloud. The electoral process today also involves the use of electronic card readers.
“The use of CCTV is very common in most organizations and even households today. Mobile communication and e-mailing and social media communication are now the order of the day.
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Use of computers and other office support systems are apparent in all offices today. Electronic commerce and online malls are very prevalent. Electricity and transportation had also gone digital, using prepaid. This developmental approach, as good as it is, is faced with a war with cyber criminal elements”.
The recent data from NITDA shows that there were a total of about 3,500 cyber attacks in Nigeria, 70% of which were successful, which led to a loss of about $450 million.
“The question,” Shittu said “is, should we go back to the old days or move ahead with spears in our hands to conquer this cyber war? Of course, we must move ahead; we must fight the war, and we must conquer, but we MUST optimize our technology”.
The Minister said that maintaining cyber security does not come with the military guns and bullets, but with relevant professional skills and expertise. “I am convinced ISACA has those skills; you have the knowledge; you have the professionals; you have the approaches, techniques, and strategies. Permit me to say that you are sitting here are the professionals Nigeria is counting on to conquer the cyber wars and crimes in the country. If the state fails, then you have failed, and ISACA has failed in Nigeria.
“Several certifications and pieces of training in cyber security are available today. I am aware that ISACA had recently introduced CyberSecurity Nexus (CSX) to equip professionals with expert skills and competencies to counter cyber terrorism.
“At this juncture, may I emphasize here that though these certifications are imperative, your possible involvement, the demonstration of your expert knowledge in facilitating a secure cyberspace in Nigeria is our total demand.
“I can assure you that if our cyberspace is safe, investors will come; e-commerce will be given much priority; and most transactions will be done without stress and above all, the quality of life will increase.
“The share of telecommunications in total real GDP had declined throughout 2010 to 2014, but for the last five quarters, growth in telecommunications has been higher, meaning the trend has reversed.”
He said that government plans to unlock the potentials of local solutions and unplug the low hanging technology fruits, to make Nigeria IT capable country in the knowledge society,
“Government is also planning to retool the curriculums in tertiary institutions continually. He further said that the State should retool all lecturers and civil servants to deliver digital dividend through inclusiveness in the emerging information society (IS). There are gaps in the ICT ecosystem that is inhibiting the kind of growth, sectoral connections and contribution to our economy that it is capable of,” Shittu said.
The Minister, however, admitted that the National Broadband Plan objective to attain 30% broadband penetration goal by 2018 is facing challenges.
The big question before us today is how do we develop the requisite infrastructure to sustain and increase growth rates and increase broadband penetration levels? Is the environment enabling enough to allow for more infrastructure rollout? The answer rests in how we unlock the supply chain of our Digital Ecosystem”, the Minister added.
