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Mastercard and CEBIH join forces to bolster cybersecurity in Nigeria

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L-R: Temitope Onibaniyi, Secretary, Emerging Payments, Committee of e-Business Industry Heads (CeBIH), Kingsley Iyanu, Secretary, Publicity and Advocacy, CeBIH; Kari Tukur, Vice President, Customer Solutions Center, East & West Africa, Mastercard; Oscar Muomah, Member, CeBIH, and Sunday Olaniyan, Member, CeBIH, at the Mastercard Fraud & Cyber Resilience Forum in Lagos on April 18, 2024.
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Mastercard, in collaboration with the Committee of E-Banking Industry Heads for Nigeria (CeBIH), recently hosted the second edition of its annual Fraud Forum in Lagos, Nigeria. Building on the success of the inaugural edition in 2023, this year’s forum convened key industry players ranging from financial institutions, payment service banks, and fintech companies, to discuss critical issues such as threats and vulnerability, intel-sharing, and best practices in combating industry risks.

The cybersecurity event, attended by key public and private sector actors, also covered the regional threat landscape based on Mastercard’s strategic threat intelligence data. This timely intervention is crucial in a region where cyberattacks remain prevalent, especially amidst Nigeria’s rapid economic expansion and widespread adoption of digital financial services.

Recent data from the Financial Institutions Training Centre (FITC) revealed a staggering 276% increase in fraud-related losses within Nigeria’s deposit banks, underscoring the need for continuous vigilance and proactive cybersecurity strategies within the financial sector. In response to the escalating threats amid Nigeria’s bourgeoning financial landscape, key government bodies have called for enhanced collaboration within the payment systems’ ecosystem to curtail the rise in E-Fraud in the country.

“We are excited to continue the Fraud Forum in Nigeria,” said Kari Tukur, Vice President, Customer and Solutions Center, West & East Africa, Mastercard. “With cyberattacks posing serious challenges within the Nigerian financial ecosystem, we take pride in establishing a platform where key stakeholders can convene, network, and exchange best practices to safeguard against potential vulnerabilities. Mastercard remains committed to creating unique and essential solutions to help business owners protect themselves and their customers against vulnerabilities, and this platform provides us with an opportunity to drive knowledge regarding these solutions as we aim to elevate cybersecurity standards and ensure the resilience of the Nigerian financial ecosystem.”

The forum delved into various aspects of cybersecurity, including common attack methods used by cyber criminals, their motivations, the assets they target, and the best practices to safeguard against attacks. Attendees gained valuable insights into the regional cyber threat landscape, with a focus on the financial services sector, which has become a prime target for cybercriminals in recent years. It also presented an avenue for Mastercard to showcase its latest fraud prevention techniques and tools, including the Mastercard Decision Intelligence, a real-time authorization decisioning solution that empowers issuers to approve more genuine transactions while effectively managing risk.

“We are delighted to partner with Mastercard on another edition of the Mastercard Fraud Forum in Nigeria. This event continues to serve as a pivotal platform for industry leaders, stakeholders, and experts to convene and address the evolving landscape of fraud and cybersecurity challenges, especially in a period marked by increased sophistication. With this year’s edition, we continue to deepen our commitment to fostering collaboration and implementing effective strategies to combat fraud and safeguard the integrity of the financial ecosystem.” Temitope Onibaniyi, Secretary, Emerging Payments of CeBIH, representing Celestina Appeal, the CeBIH Chairman, added.

The forum aligns with Mastercard’s goal of providing clarity to the complex cybersecurity landscape, in a bid to foster an ecosystem where digital transactions are built on trust. As part of its commitment to combating fraud, Mastercard also announced that it will be sponsoring the CeBIH Quarterly Sessions for the second consecutive year, bringing together industry experts to discuss the latest trends in fraud prevention and share best practices for protecting customers.

 

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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ATCON Commends FG for $2Bn “Project Bridge”, Pledges Support

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Association of Telecommunication Companies of Nigeria (ATCON) on Monday commended the Federal Ministry of Communication, Innovation, and Digital Economy (FMCIDE) for spearheading a new initiative known as ‘Project Bridge’.

ATCON Commends FG for $2Bn "Project Bridge", Pledges Support

Tony Emoekpere, president, ATCON, stated in an interview with NAN in Lagos that the initiative aimed to create a robust and resilient telecommunications backbone across Nigeria.

Emoekpere stated that the project was an ambitious public-private partnership designed to connect all 36 states and Abuja, as well as LGAs, via fiber optic cables.

According to him, the initiative is not meant to replace existing infrastructure but to complement it, creating a more resilient network.

“Right now, most of the networks that we have are linear in nature. ’Just imagine, if there’s only one road from Lagos to Ibadan; if anything happens to that road, you would not get to Ibadan.

‘’This project will create alternative routes,” he said.

The ATCON boss stated that the project was modeled after the successful PPP framework in the energy sector, with the government contributing a certain percentage to the Special Purpose Vehicle and the private sector providing the remaining funding.

He stated that the project’s goal was to establish alternative, redundant connections, thereby ensuring that services remained uninterrupted even if one part of the network was compromised.

The president expressed the full support of telcos, noting that the project would enable members to deliver services more effectively in locations where infrastructure was currently a significant challenge.

“With this project, we will have multiple options,” he said.

Project BRIDGE involves building a nationwide fiber optic network to expand digital infrastructure and connectivity, rather than a physical bridge, as part of Nigeria’s National Broadband Plan.

The project is a public-private partnership ($2 billion cost) using an SPV to deploy 90,000km of fiber-optic cable to enhance education, healthcare, and the digital economy.

 

 

 


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MTN Restores Services After Planned Network Maintenance in Parts of Adamawa, Borno, and Kano

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MTN Nigeria has successfully completed a scheduled network maintenance operation that affected 101 sites across 15 Local Government Areas (LGAs) in Adamawa, Borno, and Kano States.

The restoration marks a significant step in the company’s ongoing efforts to enhance service reliability in the Northeast region, amidst multiple fibre cuts and vandalism.

The maintenance, which took place on Sunday, August 24, involved the cutover of traffic to a newly installed fiber span along the AFCOT–Bawo Village route in Adamawa State.

This upgrade was necessary to replace a previously damaged section of the network infrastructure. All service maintenance was done within timeframe and restorations before 1 PM on Sunday August 24th.

We can confirm that all impacted sites have been fully restored, and services are now operating normally. We appreciate our subscribers’ patience and sincerely apologize for any inconvenience caused during the downtime.

The affected services included 2G, 3G, 4G, and enterprise connectivity, with temporary disruptions experienced in LGAs such as Girei, Song, Mubi North, Hong, and Michika in Adamawa; Askira/Uba and Shani in Borno; and Nasarawa in Kano.

The work was scheduled during daylight hours to ensure the safety of field engineers, given the linear and unprotected nature of the route.

This restoration is part of MTN’s broader strategy to strengthen its infrastructure in underserved regions and ensure consistent service delivery across Nigeria, amidst constant fibre cuts and vandalism.


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TikTok Unveils Artist Insights Platform in Nigeria

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TikTok has launched its music insights platform, TikTok for Artists, in Nigeria to support artist growth and fan engagement across the country’s vibrant music industry.

The platform, which debuted globally earlier this year, provides artists, labels, and management teams with access to daily-updated dashboards and analytics tools to track music performance, audience demographics, and fan interactions.

Toyin Mustapha, Head of Music Partnerships for the UK, Ireland, and Sub-Saharan Africa at TikTok, said the initiative was part of the company’s commitment to empowering African creators.

“With the launch of TikTok for Artists in Nigeria, we’re giving artists and their teams access to insights that can help them engage their fans in more meaningful ways and grow their careers globally,” Mustapha said.

The platform offers detailed song performance metrics, including views, posts, and creator engagements per track. It also provides granular post-level data such as likes, comments, shares, and completion rates, alongside demographic breakdowns by gender, age, and language.

In addition to analytics, TikTok for Artists includes educational resources and step-by-step guides to help artists build sustainable careers.

A key feature of the platform is the Pre-Release tool, which allows artists to launch campaigns for upcoming albums and enables fans to pre-save tracks on streaming platforms like Spotify and Apple Music.

British artist Jordan Adetunji described the platform as a “game changer,” noting its value in helping artists and their teams plan effective campaigns.

TikTok said the rollout reaffirms its investment in Africa’s creative economy and aims to foster deeper connections between artists and fans across the continent.

The platform is now available to all certified TikTok Artist Accounts, with access also extendable to managers and label teams.


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