ACAEBIN Trains Internal Auditors on cyber defence

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The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) has held its first stream of 2019 capacity building for Internal Auditors on Cyber Defence.

The three-day training held recently in Lagos in conjunction with the Financial Institutions Training Centre (FITC) was hands-on based and focused on review of networks, applications, databases and IT infrastructures.

As part of the association’s policy of continuous capacity development, ACAEBIN organises at least two trainings every year for internal audit staff at no cost to member banks and at least one for Chief Audit Executives who by virtue of their position, are direct members representing their various banks.

In his opening address at the commencement of the exercise, a statement quoted the Chairman of ACAEBIN, who also is the Chief Audit Executive of Access Bank Plc, Yinka Tiamiyu, to have urged the participants to make the best use of the opportunity describing the topic as a very vital and critical area that needs special attention. Noting that content is very enriching and would deliver the desired result if taken serious by the participants.

He said: “The cyber space is continuously evolving, so also the associated threats. As Auditors, it our duty to ensure proactive approach to mitigate these threats and provide assurance to our organisation in order to prevent loss of valuable assets and corporate image.”

Speaking in the same vein, the Second Vice Chairman and Head of the Emerging Issues Committee of the Association, Felix Igbinosa in his speech informed the participants that, “given the ever changing cyber threat landscape and the continuing unending battle in the cyberspace, there is the need for a 24/7 monitoring and response on technological platforms of organisations.

“As such, organisations need to invest more in implementing additional security infrastructure and training of its personnel in cyber security.’’

Felix, further informed the participants that another training would be held before the end of the year. He assured the participants that his Committee would evaluate the report of the training to determine the need for another stream, urging them to ensure they derive value for the huge investment the Association is making towards harnessing their skill set for better service delivery in the banking industry.

At the end of the training, participants would have developed competencies in managing key aspects of cyber security threat, understand the impact of cyber-attacks on the various IT tools and platforms, analyse threats and risks within the context of the Cyber security architecture, among other things.

The high point of the three-day training was the presentation of certificates to the participants.

ACAEBIN, a sub-committee of the Bankers’ Committee of the Central Bank of Nigeria (CBN) is a 34-member not-for-profit organization, established primarily to foster corporation among Chief Audit Executives (CAEs), promote competence, ethical standards and professional behaviour among member organizations. Membership cuts across Deposit Money Banks (DMBs), Development Banks, the Central Bank of Nigeria as well as three Honourary members (NDIC, FITC and NIBSS).