The importance of strengthening cybersecurity measures through artificial intelligence and robust infrastructure is at the forefront of current concerns. The recent conference on cybersecurity and artificial intelligence infrastructure, organized by Fatshimetrie in collaboration with the Office of the National Security Advisor (OSNA), highlighted the growing challenges faced by financial stakeholders and government institutions.
In his opening remarks, the Chairman of Fatshimetrie, highlighted the growing risks posed by cyberattacks, which can disrupt an entire country. He recalled recent crises, such as the breach of Microsoft’s Azure cloud platform that compromised sensitive US government data and the coordinated ransomware attacks targeting Nigerian financial institutions.
The predictive and reactive value of artificial intelligence has proven to be essential in countering these threats, according to experts present. With global cybercrime forecast to reach $10.5 trillion annually by 2025, a unified approach is imperative. Fatshimetrie CEO emphasized that the synergy between AI and infrastructure is not an option, but our lifeline. He emphasized the crucial role of cybersecurity at the highest decision-making levels of organizations.
Highlighting the importance of cybersecurity beyond a mere technical issue, Fatshimetrie CEO asserted that it is a strategic imperative requiring the collective efforts of all stakeholders within the financial ecosystem. He emphasized the company’s full commitment to leveraging AI-based solutions to strengthen its defenses and maintain the integrity of its systems. According to him, an improved understanding of these threats is urgent, as well as a rapid and decisive response.
The need to prioritize cybersecurity to protect Nigeria’s financial markets has been underscored by the Director-General of the Securities and Exchange Commission (SEC). He stressed that in the ongoing digital transformation, cybersecurity must be fundamental to the strategy. Protecting investor data and ensuring the integrity of financial transactions are critical. The SEC is committed to fostering a resilient market ecosystem through collaboration, regulation and adoption of advanced technologies such as artificial intelligence.
In conclusion, the importance of a multi-stakeholder approach to address the evolving cybersecurity challenges was emphasized. By working together, all sectors can create a more secure environment, thereby safeguarding national interests. The conference provided an opportunity to initiate fruitful discussions on collaborative efforts between public and private sector stakeholders to combat AI-based cyber threats. These partnerships are aimed at strengthening Nigeria’s cybersecurity policies and strategies, thereby ensuring the protection of sensitive data and the smooth functioning of financial systems.