The Central Bank of Nigeria has urged financial institutions to strengthen their defences against cybersecurity risks. This warning includes Nigerian banks, Moniepoint, OPay, and other fintechs. The call to action is in response to widespread vulnerabilities, particularly those related to third-party technology.

Further details about the warning were shared by Rakiya Yusuf, Director of the Payments System Supervision Department. She spoke at a conference session focused on navigating cyber and systemic risks in the banking industry.

More information about the Central Bank's warning and the conference discussion is available from the source. The warning emphasizes the need for financial institutions to prioritize their defences amid growing reliance on fintechs and payment service providers.