• Wednesday, February 28, 2024
businessday logo


Nigeria needs industry collaboration to mitigate cybersecurity threat – CEO 9mobile

9mobile launches ‘Choplife’ promo to deepen market share, reward customers

Juergen Peschel, 9mobile CEO, has reiterated the need for stakeholders’ collaboration to mitigate the threat of Cybersecurity in the wake of increased cyber-attacks in Nigeria.

Peschel noted that the frequency and sophistication of cyberattacks had increased significantly in recent years, posing a threat to individuals, businesses, and the country’s economy at large.

“Cyber threats constantly evolve, and we must work together to stay ahead of them because no single entity can achieve this on its own. We must collaborate, share information, and coordinate our efforts to achieve a more secure cyberspace,” Peschel said recently at the economic forum series on Fintech Cybersecurity & Fraud summit held in Lagos.

The Economic Forum Series is a platform for thought leadership, innovation, and businesses in different segments of the economy. However, with cybersecurity threats on the rise, Peschel reassured participants of 9mobile’s commitment to ensure the safety and security of its network and subscribers.

“We have witnessed a sweeping transformation in the financial sector buoyed in no small part by technology. As we hail this win, we must also pay attention to the framework that will allow us to thrive and support the development of a more digitized and robust financial system and pave the way for innovation and a more integrated digital banking system,” he said.

According to him, there is a need to strengthen mechanisms to mitigate the risks of cyber-attacks, consumer data breaches, fraud, and money laundering in Nigeria. “We are in an exciting phase of the FinTech journey. The industry is evolving, and it has come to a point where we are now seeing a lot of global activities in the FinTech space, most importantly, investments in emerging markets,” Peschel said.

Read also: Cybersecurity the new normal

He stated further that tech giants like Google and Apple consider Africa a critical market and even incubating centers for FinTech. According to him, the fact that FinTech affects every industry and aspect of human lives is one reason people should be interested in the sector.

He also disclosed that 9mobile has implemented several safeguards to secure its network and subscribers as part of its commitment to Cybersecurity. “Some of these measures are regular security audits, round-the-clock surveillance, and the usage of cutting-edge threat detection systems,” Peschel said.