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NDPC Raises Alarm Over Rising Cyber Threats to Nigeria’s Financial & Digital Assets

spearnewsonline by spearnewsonline
April 17, 2026
in News
NDPC Raises Alarm Over Rising Cyber Threats to Nigeria’s Financial & Digital Assets
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The Nigeria Data Protection Commission (NDPC) has issued a regulatory advisory warning of escalating threats to Nigeria’s data security infrastructure.

Mr Babatunde Bamigboye, head of legal, enforcement and regulations at NDPC, issued the warning in a statement on Thursday in Lagos.

He said the NDPC technical assessment revealed coordinated activities by threat actors targeting financial systems and critical digital infrastructure across the country.

He urged organisations to urgently strengthen their data protection frameworks in line with the Nigeria Data Protection Act, 2023.

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He also reminded public institutions of the directive by President Bola Tinubu, emphasising the importance of safeguarding data.

Mr Bamigboye quoted the president as saying: “Data is the new oil; its value increases the more it is refined and responsibly shared.

“I therefore direct all ministries, extra-ministerial departments and agencies to capture information rigorously and safeguard it under the Nigeria Data Protection Act 2023.”

Mr Bamigboye stressed that all data controllers and processors, including MDAs, must adopt enhanced technical and organisational measures to ensure the privacy and security of personal data.

He listed key measures, including appointment of certified data protection officers, privacy policies, security standards, and data privacy impact assessments.

These also include multi-factor authentication, zero-trust architecture, continuous monitoring, vulnerability remediation, cloud security, encryption, penetration testing, and backup and recovery processes.

He said NDPC remained committed to providing regulatory support to organisations to ensure compliance and strengthen institutional resilience.

He warned that failure to implement required data protection measures under the law may result in legal liabilities.

“The Commission remains committed to protecting personal data, strengthening institutional resilience, and ensuring compliance across all sectors,” he said.

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