The Association of Chief Audit Executives of Banks in Nigeria has called for cooperation among lenders in the country to boost cybersecurity in the sector.
This recommendation was contained in the communiqué issued at the end of the association’s annual general meeting and retreat held in Abuja recently.
The association advocated the establishment of an assurance community of information security, internal audit, internal control/systems control, compliance, and risk management departments by banks to collaborate regularly, share insights and monitor cybersecurity-related initiatives and projects.
The week-long event with the theme ‘The Role of the Internal Auditor in Promoting Stability in the Financial Services Sector and National Economic Growth’, witnessed a convergence of members and other banking industry stakeholders sharing ideas and knowledge on the challenges and opportunities of the banking industry.
Speaking with journalists during the conference, the Chairman of ACAEBIN, Prince Akamadu, explained that the conference theme resonated deeply with the challenges and opportunities the banking industry was facing and by extension the economy.
“The past year has witnessed a series of challenges in our economy, which has impacted the living conditions of the generality of Nigerians and the banking industry is at the centre of the developments.
“For us to continue to play our part as valued stakeholders, it is pertinent that we take a critical look into the future and equip ourselves with those critical skills and resources that would enable us to perform our functions well, not just as gatekeepers but also as valued advisors to our organisations and the industry at large,” he stated.
Akamadu and other executive committee members were re-elected for another two-year term to pilot the affairs of the association.
In his acceptance speech, he thanked his colleagues for the confidence reposed on him and other members of the executive.
He pledged to continue to strengthen collaboration with other stakeholders and regulatory agencies in the collective effort to sanitise the banking system and improve the country’s economy at large
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