CBN to Develop Risk-based Cyber Security Framework for Banks Partners US Fed Reserve, South Africa Central Bank, JP Morgan Ndubuisi Francis in Abuja The Central Bank of Nigeria (CBN) is developing a riskbased cyber security framework for deposit money banks
(DMBs) and payment service in partnership with stakeholders in the financial industry. Statistics put the cost of cyber-crime globally at $700 billion annually, a figure
projected to rise to about $2 trillion by 2019, due to the rapid digitisation of consumer lives and company records. In the case of Nigeria, about N198 billion is said to
be lost to ever-increasing cases of cyber crimes per annum usually perpetrated through the financial system. The Deputy Governor, Financial System Stability (FSS),
CBN, Mrs. Aishat Ahmad, who spoke in Abuja, Tuesday at the 2018 CBN-JP Morgan Chase Cyber Security Conference, said the CBN was committed to strengthening the regulatory
and supervisory framework for cyber risk and encouraging realistic vulnerability testing and contingency planning for Continued on page 12
17,000 Persons Missing in Nigeria Due to Conflicts, Says Red Cross… Page 10 Friday 3 August, 2018 Vol 23. No 8508. Price: N250
www.thisdaylive.com TR
TODAY'S WEATHER
ABUJA 25°C-33°C
MAIDUGURI 31°C-31°C
UT H
& RE A S O
ENUGU 25°C-28°C
N
KANO 27°C-33°C
LAGOS 24C-27°C
PORT HARCOURT 20°C-30°C
Security Chiefs Meet with Buhari, Demand for Military Equipment Omololu Ogunmade in Abuja Service chiefs led by the Minister of Defence, BrigGen Mansur Dan-Ali (rtd.), yesterday in the State House, Abuja met with President Muhammadu Buhari and demanded for a new set of military equipment to combat insecurity. The demand was part of the presentation made on behalf of the military by Dan-Ali to the Security Council meeting. Ali, it was learnt, told the council that provision of
the equipment had become compelling if the battle against insurgency and other forms of insecurity in the country must be contained. A statement by Dan-Ali's spokesman, Col. Tukur Gusau, containing the demand was made available to journalists after the meeting. "Finally, the Minister requested for provision of more equipment for the armed forces in order to sustain the tempo in the fight Continued on page 10
APC Senators Plan to Invade National Assembly, Remove Saraki, Alleges PDP Presidency: Insinuation ridiculous Iyobosa Uwugiaren, Omololu Ogunmade, Onyebuchi Ezigbo in Abuja The Peoples Democratic Party (PDP) yesterday alleged that All Progressives Congress senators plan to forcefully reconvene the Senate and remove the Senate President, Bukola Saraki, and his deputy,
Senator Ike Ekweremadu, saying President Muhammadu Buhari’s vacation to the UK is a ploy to avoid blame for the impending invasion. But the Governor of Sokoto State, Alhaji Aminu Tambuwal, has warned that the PDP would forcefully repel any attempt to Continued on page 10
Notore’s Listing Boosts NSE Market Capitalisation by N101bn … Page 43
THE GRAND ENTRY… L-R: Group Chief Financial Officer, Notore Chemical Industries Plc, Mr. Femi Agbaje; CEO, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema; Chairman, Notore, General Yakubu Gowon (rtd.); Group Managing Director/CEO, Notore, Mr. Onajite Okolo; and Director, Notore, Mr. Mike Osime, during Notore’s listing on the NSE in Lagos… yesterday