BrandArena: Collaboration is key to improving cybersecurity - 9mobile CEO

Wednesday 3 May 2023

Collaboration is key to improving cybersecurity - 9mobile CEO

In light of rising cyber risks, the CEO of 9mobile, Juergen Peschel has emphasised the importance of stakeholder collaboration in order to improve cybersecurity in Nigeria. 

Peschel recently stated at the Economic Forum Series on Fintech Cybersecurity and Fraud Summit in Lagos that the frequency and sophistication of cyberattacks have increased dramatically in recent years, posing a threat to individuals, organisations, and the country's economy as a whole.

The telecom chief stressed the value of cooperation between government agencies, private organizations, and key stakeholders to improve Nigeria's cybersecurity posture.

Peschel said, "Cyber threats constantly evolve, and we must work together to stay ahead of them because no single entity can achieve this on its own. We must collaborate, share information, and coordinate our efforts to achieve a more secure cyberspace. 9mobile, a leading telecommunications company in Nigeria that provides voice and data services to millions of subscribers nationwide, is also involved. With cybersecurity threats on the rise, we are committed to ensuring the safety and security of our network and subscribers.”

“We have witnessed a sweeping transformation in the financial sector buoyed in no small part by technology. As we hail this win, we must also pay attention to the framework that will allow us to thrive and support the development of a more digitized and robust financial system and pave the way for innovation and a more integrated digital banking system. There is a need to strengthen mechanisms to mitigate the risks of cyber-attacks, consumer data breaches, fraud, and money laundering,” Peschel remarked.

“We are in an exciting phase of the FinTech journey. The industry is evolving, and it has come to a point where we are now seeing a lot of global activities in the FinTech space, most importantly, investments in emerging markets. Google and Apple consider Africa a critical market and even incubating centers for FinTech. The fact that FinTech affects every industry and aspect of our lives is one reason people should be interested in the sector, as it immensely adds value to how we do business and work,” he added.

9mobile has implemented several safeguards to secure its network and subscribers as part of its commitment to Cybersecurity. Some of these measures are regular security audits, round-the-clock surveillance, and the usage of cutting-edge threat detection systems.

The Economic Forum Series is a platform for thought leadership, innovation, and businesses in different segments of the economy.

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