Cybersecurity essential for protecting vital infrastructure – Expert

The Chief Executive Officer (CEO) and co-founder of Cybervergent, Adetokunbo Omotosho, has emphasized the importance of cybersecurity in securing critical infrastructure such as power grids, communication networks, and financial systems.

Omotosho noted that successful cyber-attacks on a country’s critical infrastructure can affect its stability and well-being, as these can cause economic losses and job cuts, making cybersecurity important for a nation’s economic health.

“Constant monitoring and analysis of cyber threats provide valuable intelligence for national security agencies. Collaboration between the public and private sectors is crucial to sharing threat intelligence and responding effectively to emerging cyber threats. In essence, investing in robust cybersecurity measures is an investment prosperity,” he said.

According to him, the Nigerian financial sector suffered substantial losses due to cybersecurity breaches in 2022. Omotosho highlighted the critical importance of developing a strong cybersecurity infrastructure and resilience among businesses and other industries to mitigate future losses.

He highlighted that in today’s data-driven world, prioritising cybersecurity demonstrates a commitment to protecting customer data, fostering trust, and maintaining a positive brand image.

Also Read: Protection of Critical Infrastructure is Key to Cyber Security- Minister

“Many industries have stringent regulations regarding the protection of sensitive information. Cybersecurity measures ensure compliance with these regulations, avoiding legal consequences and financial penalties for organisations found wanting.

“As businesses embrace digital transformation, cybersecurity becomes an enabler for innovation. This is because secure digital platforms and emerging technologies empower organisations to explore new business models and stay competitive,” he said.

According to Omotosho, in today’s digital landscape, cybersecurity plays a crucial role not only as a defensive measure but also as a strategic asset. It is a vital component that empowers businesses to thrive and succeed in the highly competitive and ever-evolving online world.

With strong cybersecurity measures in place, organizations can protect their valuable digital assets, including sensitive data and intellectual property, from cyber threats and attacks.