CSCS Urges Collective Action Against Rising Cyber Threats

The Central Securities Clearing System (CSCS) Plc has called for stronger collaboration and shared responsibility among individuals, organisations, and national institutions to combat the growing wave of cyber threats facing the digital economy.

Speaking at the company’s 2025 Cybersecurity Webinar themed “Securing Our World”, Managing Director and Chief Executive Officer of CSCS, Mr Haruna Jalo-Waziri, stressed that cybersecurity should no longer be viewed as a purely technical issue but as a collective societal duty.

The annual virtual event brought together participants from the Office of the National Security Adviser (ONSA), financial institutions, technology leaders, and global cybersecurity experts to discuss strategies for building cyber resilience and awareness within Nigeria’s financial and capital markets ecosystem.

Jalo-Waziri, in his opening remarks, underscored that every individual, team, and organisation has a role to play in ensuring a safer digital environment.

“Whatever we do as individuals, teams, or organisations, we must all play a part in keeping our digital world safe,” he said. “Our world is only as secure as the actions we take every day.”

He explained that the CSCS initiated its annual cybersecurity webinar years ago to drive awareness and thought leadership across the capital market, given its position as a critical financial market infrastructure.

“The seminar is a global call to action and a reminder that cybersecurity is a shared responsibility,” he said, noting that effective cyber defence requires leadership, accountability, and consistent behavioural change.

According to him, CSCS treats cybersecurity not just as a technology function but as a business imperative integrated into its culture and governance.

He reaffirmed the organisation’s commitment to continuous investment in awareness programmes and capacity-building initiatives to empower staff and stakeholders to make secure, informed decisions.

Delivering a presentation titled “Why the Human Firewall is Important,” Head of Incident Handling at the Nigeria Computer Emergency Response Team (ngCERT), ONSA, Mr Daniel Onyekpeze, identified human behaviour as the weakest link in cybersecurity.

He disclosed that a large proportion of cyber incidents are triggered by human error or manipulation, urging organisations to prioritise continuous staff training and a whole-organisation approach to awareness.

“Humans remain the most targeted and affected in organisations. Regular training and consistent awareness programmes are key to building a strong human firewall,” Onyekpeze stated.

In another presentation on “Cybersecurity in a Hyper-Connected World,” Chief Information Security Officer of Unity Bank Plc, Mr Zechariah Akinpelu, warned that the rapid growth of connected devices—projected to exceed 30 billion globally by 2030—has expanded the attack surface for cybercriminals.

While acknowledging the convenience and efficiency enabled by the Internet of Things (IoT), Akinpelu emphasised the need for individuals and organisations to adopt preventive measures such as strong passwords, regular software updates, multi-factor authentication, and Zero-Trust security models.

He also recommended that firms deploy AI-driven defence mechanisms and strengthen vendor risk management practices.

Also speaking, CyberSoc Africa’s Mr Jon Hamlet, in his paper titled “Global Threats, Local Impact, Enterprise Strategies for a Connected World,” called on Nigerian organisations to integrate cybersecurity into their overall corporate governance and risk management frameworks.

He stressed that as cyber threats evolve, institutions must embed resilience into their operations, manage risks across supply chains, and align with global best practices and regulatory expectations.

In his closing remarks, Executive Director of CSCS, Mr Adeyinka Shonekan, reaffirmed the company’s commitment to advancing cybersecurity leadership and awareness across the financial ecosystem.

“In an increasingly digital and interconnected world, the responsibility to protect our systems, data, and people rests on all of us, individually, organisationally, and nationally,” he said.

“At CSCS, we remain steadfast in promoting cybersecurity excellence within the capital market and beyond. Collaboration, awareness, and innovation remain the cornerstones of our resilience.”

CSCS Urges Collective Action Against Rising Cyber Threats is first published on The Whistler Newspaper