Nigeria’s data protection regulator, the Nigeria Data Protection Commission, has raised concerns over increasing cyberattacks targeting the nation’s financial systems and critical digital infrastructure.
The commission, in a data protection advisory issued on Thursday, warned that coordinated activities by suspected cyber actors were posing serious risks to institutions across key sectors.
It identified banking platforms, payment systems, telecommunications networks, cloud services and public-sector digital infrastructure as major targets, noting that the trend could lead to data breaches and service disruptions if not urgently addressed.
In the advisory signed by its Head of Legal, Enforcement and Regulations, Babatunde Bamigboye, the commission urged organisations handling personal data to strengthen their security frameworks.
“The commission strongly advises that data controllers and processors, including government agencies, must urgently enhance their technical and organisational measures to safeguard personal data in line with the Nigeria Data Protection Act, 2023,” it stated.
The NDPC outlined key steps to mitigate risks, including the appointment of certified Data Protection Officers, development of robust privacy policies and regular Data Privacy Impact Assessments.
It also emphasised the need for advanced technical safeguards such as multi-factor authentication, zero-trust architecture and improved network segmentation.
According to the commission, organisations should adopt stronger identity and access controls, ensure timely system updates and secure their digital infrastructure against vulnerabilities.
The advisory further recommended real-time monitoring, encryption, secure credential management, and regular vulnerability testing to strengthen resilience against cyber threats.
The warning comes amid ongoing investigations into an alleged data breach involving major financial service providers, including Remita Payment Services Limited and Sterling Bank.
The commission said the probe is aimed at determining the extent of the breach, the nature of data exposed and the adequacy of response measures taken.
It reaffirmed its commitment to enforcing compliance with the data protection law, warning that failure to implement adequate safeguards could expose millions of Nigerians to cyber risks and privacy violations.
