The Managing Director/CEO of Union Bank Nigeria, Mrs. Yetunde Oni, has said that Nigeria is ranked among top global sources of cyber-attacks.
Speaking at the 63rd Quarterly General Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) in Lagos, Oni said: “Nigeria’s cybercrime exposure remains significant. With reported losses exceeding N100 billion in 2023 alone, and with the country ranked among top global sources of cyber-attacks, the risk landscape has fundamentally changed,”
Represented by Mrs. Olufunmillola Aluko, Chief Brand and Marketing Officer and Head Customer Experience of Union Bank of Nigeria, Oni added that cybersecurity is no longer an IT issue and that “it is an enterprise-wide resilience issue and internal audit must play a leading role in validating, challenging and strengthening our controls”.
Speaking on the theme ‘Navigating the Next Wave: Audit Resilience Amid Emerging Risks and Regulatory Complexity”, she said: “We are in a period where multiple waves of disruption intersect: Macroeconomic pressures that test balance sheets and liquidity; Exchange rate volatility that destabilises projections; Expanding digital ecosystems that accelerate innovation but introduce new risk vector.
“Cybersecurity incidents that grow in scale and sophistication; Heightened regulatory expectations; and Rising demand for sustainability and transparent governance.”
“Against this backdrop, your roles as Chief Audit Executives have expanded dramatically,” local media reports quoted Oni as saying.
Earlier in her welcome address, Aina Amah, Chairperson of the ACAEBIN, stated that the world is moving faster than ever and testing institutional agility and demanding even greater professional courage.
GIK/APA
