At the 5th CSCS Cybersecurity Conference, held in recently in Abuja and Organized in collaboration with the Office of the National Security Adviser (ONSA), Popoola highlighted the rising dangers posed by cyberattacks, which have the potential to destabilize the entire nations.
He cited recent incidents, such as a breach of Microsoft’s Azure cloud platform compromising sensitive U.S. government data and coordinated ransomware attacks on Nigerian financial institutions.
Popoola emphasised that AI’s predictive and responsive capabilities are vital for combating these risks.
With global cybercrime projected to reach $10.5 trillion annually by 2025, according to Cybersecurity Ventures, Popoola called for a unified approach, stating, “The synergy between AI and infrastructure is not just an option; it is our lifeline.” He urged organizations to make cybersecurity a board-level priority, integrating it into all areas of decision-making.
Corroborating, the CEO of CSCS, Haruna Jalo-Waziri, noted that cybersecurity is not merely a technical concern but a strategic imperative that demands the collective efforts of all stakeholders in the financial ecosystem.
He affirmed CSCS’s commitment to employing AI-driven solutions to strengthen defenses and uphold the integrity of its systems.
“There is an urgent need for robust cybersecurity measures. We must deepen our understanding of these threats and respond decisively,” Jalo-Waziri said.
Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, stressed the need to prioritise cybersecurity to protect Nigeria’s financial markets. “As we pursue digital transformation, cybersecurity must be central to our strategy. Safeguarding investor data and ensuring the integrity of financial transactions is critical. The SEC is committed to building a resilient market ecosystem through collaboration, regulation, and advanced technologies like AI,” he noted.
Adding to the discourse, Head of International Cooperation at ONSA’s Directorate of Cybersecurity, Saad Abubakar stressed the importance of a multi-stakeholder approach to addressing the evolving cybersecurity landscape.
He stated that collaboration across sectors is essential to creating a secure environment and safeguarding national interests.
The conference facilitated productive discussions on collaborative efforts among public and private sector stakeholders to counter AI-driven cyber threats. Participants explored partnerships aimed at advancing Nigeria’s cybersecurity policies and strategies.
