Leadway Assurance Company Limited, one of Nigeria’s foremost insurer, on Monday, July 13, 2020, hosted global industry thought leaders and subject matter experts to an online discourse to x-ray the rising cyber-risks in local and international businesses, as well as the various ways to mitigate the threats and attacks.
The webinar, moderated by Liz Booth, Editor, Commercial Risk Africa, featured Inuwa Kashifu Abdullahi, Director-General, National Information Technology Development Agency (NITDA); John Anyanwu, Partner, Technology Advisory Services, KPMG Nigeria,; Tariq Fadai, IT-Security expert, Africa and the Middle East, Munich Re; Gilbert Flepp, Head, Cyber Risks and Technical lines, Chubb Eurasia and Africa, Adetola Adegbayi, Executive Director, General Insurance, Leadway Assurance Company Limited.
John Anyawu, speaking during the session, said: “Since the start of the pandemic, there have been increased dependency on the internet and mobile apps, and more reliance on digital channels. This has brought about a
noticeable increase in cyber-attacks globally, and it has posed potential risks to businesses.”
He added that every organization needed to implement prevention, detection, and responsive measures against the risks of cyber-driven attacks and fraud, noting that if organisations implemented the right cybersecurity measures, they would function with confidence regardless of the times. Tariq Fadai gave insight into how cyber attackers operated, recommending defense mechanisms organizations could adopt. He further opined that organizations with “…poor security hygiene need to change”. Tariq noted that, with the pandemic forcing corporates to deploy remote-work conditions and routines, systems have moved to cloud services with an increasing reliance on third party services. “There is a risk of unavailability of services due to overcrowding, and several organisations might experience data loss as well. Every business owner should understand and make gooduse of important cyber-attack controls”, he added.
Corroborating Fadai, Gilbert Flepp, emphasized the urgent need for organisations to institute maintenance of cyber-security protocol, endpoint detection and response tactics like implementing robust anti-Malware control
and learning how to administer a disaster recovery plan.
In the same vein, Inuwa Kashifu Abdullahi, expressed concerns over the recent increase in daring cyber-attacks on businesses and individuals. “Never before has cyber threats been the way it is today. As the world is recovering, cyber-criminals are taking advantage of the pandemic to mask their activities. It is important that we learn how to keep information safe, how to back up, how to secure email getaway regularly and to make sure everyone is vigilant, web-responsible and aware of emerging threats and use technology to prevent them from causing havoc,” he noted.
In her remarks, Adetola Adegbayi urged organisations to prioritise cyber-risk insurance as part of risk mitigation system against a cyber-attack, especially when business operations are delicately hinged on remote accesses. “The shrewdness of the company’s management over the years has informed several innovations that would soothe any impending crisis in businesses and individual lives. Cyber-risk insurance policies have been robustly reengineered for organizations and individuals in the face of rising cyberattacks and fraud on businesses,” she said.
Adegbayi revealed that the Leadway cyber-risks insurance policy is now optimised to provide first-party coverage and third-party liability risk covers on cyber-perils for organisations, while the individual policy coverage is on the
verge of introduction into the market once approved by the National Insurance Commission.
Leadway Assurance is one of Nigeria’s foremost insurance service companies with a reputation for service efficiency and customer reliability. The organisation is committed to providing innovative ways to ensure that every
individual and their businesses are protected.
Peter Obaseki retires as Chief Operating Officer of FCMB Group Plc
Mr Peter Obaseki, the Chief Operating Officer of FCMB Group has retired from the financial institution.
The Board of Directors of FCMB Group Plc has announced the retirement of Mr. Peter Obaseki, the Chief Operating Officer of the financial institution, with effect from March 1, 2021. He was also an Executive Director of the Group.
His retirement was approved at a meeting of the Board of the Group on February 26, 2021. This has also been announced in a statement to the Nigerian Stock Exchange (NSE) by the financial institution.
The Chairman of FCMB Group Plc’s Board of Directors, Mr Oladipupo Jadesimi, thanked Mr. Obaseki for his valuable service and excellent support to the Board for many years.
FCMB Group Plc is a holding company divided along three business Groups; Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited); as well as Asset & Wealth Management (FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited).
The Group and its subsidiaries are leaders in their respective segments with strong fundamentals.
For more information about FCMB Group Plc, please visit www.fcmbgroup.com.
NSE to commemorate IWD 2021, host 7th Annual Ring the Bell for Gender Equality
NSE will join securities exchanges all over the world to commemorate International Women’s Day 2021.
The Nigerian Stock Exchange (NSE or The Exchange) will join securities exchanges all over the world to commemorate International Women’s Day 2021 and host its 7th Annual Ring the Bell for Gender Equality on Monday, 8 March 2021.
In collaboration with Sustainable Stock Exchanges (SSE) Initiative, United Nations (UN) Women, United Nations Global Compact (UNGC) and International Finance Corporation (IFC), the event will hold virtually building on the global theme, #ChooseToChallenge and will culminate in a digital Closing Gong Ceremony. Members of the stockbroking community, analysts, regulators, media and other interested participants can register via the link: http://bit.ly/nse-iwd-2021
Consistent with The Exchange’s objectives to accelerate progress and impact on the advancement of women across all spheres of life, the event will feature discussions that highlight the business case to challenge the norm. Confirmed speakers at the event include, Otunba Abimbola Ogunbanjo, President, National Council, NSE; Mrs. Catherine Nwakaego Echeozo, 2nd Vice President, National Council, NSE; Mrs. Fatimah Bintah Bello–Ismail, Ordinary Member, National Council, NSE; Mrs. Erelu Angela Adebayo, Ordinary Member, National Council, NSE; Mrs. Opunimi Akinkugbe, Founder, Director, Bestman Games; Mr. Oscar N. Onyema, OON, Chief Executive Officer (CEO), NSE; Ms. Tinuade Awe, Executive Director, Regulation, NSE; Mr. Bola Adeeko, Divisional Head, Shared Services, NSE; Mr. Kevin Njiraini, Regional Director, Southern Africa & Nigeria, International Finance Corporation (IFC).
Others are Mrs. Oluwasoromidayo George, Chairperson, United Nations Global Compact (UNGC) Network Nigeria; Mr. Lansana Wonneh, United Nations (UN) Women Deputy Representative, Nigeria and ECOWAS; Mr. Patrick Akinwuntan, Managing Director/Regional Executive, Ecobank Nigeria; Ms. Ivana Osagie, Founder, Professional Women Roundtable (PWR); and Ms. Eme Esien Lore, Nigeria Country Manager, IFC.
The webinar will also feature a special focus on the peer-to-peer learning programme under the Nigeria2Equal programme, a three-year project towards which the IFC will collaborate with the NSE to reduce employment and entrepreneurship gaps in Nigeria through the private sector.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Seplat falls into a loss in FY 2020
- 2020 FY Results: Cornerstone Insurance Plc reports a 61.1% decline in profit
- Ellah Lakes increases operating expenses by 33.36% in HY 2020
- 2020 FY Results: Nigerian Breweries reports a 54.3% decline in profits in 2020
- Abbey Mortgage Bank projects N51.08 million profit in Q2 2020.