Experts Highlight Critical Identity Strategies Against Cyber Fraud

On Mar 26, 2025

Some Information Technology (IT) experts have highlighted the critical need for comprehensive identity and access management strategies to address the rising menace of cyber fraud in Nigeria.

The discussion took place during a roundtable convened by the Information Security Society of Africa-Nigeria (ISSAN) in partnership with Seamfix on Wednesday in Lagos.

The event, themed “The Future of Identity and Access Management in a Zero-Trust Digital World,” examined evolving digital security challenges and potential solutions.

Chibuzor Onwurah, Co-Founder and Executive Director of Seamfix, delivered the opening address, urging organisations to adopt proactive measures to counter escalating threats from the rapidly changing digital environment.

He pointed out the significant impact of post-pandemic trends such as remote work, cloud migration, and the Internet of Things (IoT), which demand more adaptable security measures.

Onwurah emphasised the importance of staying ahead of cybercriminals exploiting vulnerabilities resulting from digital transformations, noting that technological advancements have created new opportunities for fraud.

“Complacency is not an option, and continuous action is required,” he said, adding that industry stakeholders must engage in collaborative efforts, such as information sharing and developing effective cybersecurity strategies. He stressed that joint problem-solving is paramount in mitigating risks.

He further underscored the inadequacy of traditional perimeter-based security in addressing advanced cyber threats, advocating for partnerships among solution providers to foster collaborative problem-solving.

Onwurah detailed Seamfix’s identity and access management (IAM) solution, which leverages AI-powered biometric authentication to detect and prevent suspicious activities, ensuring secure identity management and access control.

Sharing his own experience with identity theft, Onwurah highlighted the importance of biometrics, like facial recognition and fingerprint scanning, in verifying user identities within digital systems.

“Biometrics provide a more secure way of verifying who you are in the digital realm. Our system captures and compares biometric data to ensure that only authorised personnel gain access,” he explained.

In a keynote speech, Dr David Isiavwe, President of ISSAN, called for the adoption of the zero-trust security model to combat sophisticated cyber threats, describing it as critical for securing internal systems, workforce access, and identity verification.

“The zero-trust model, built on the principle of ‘never trust, always verify,’ is essential for securing organisations’ internal systems, workforce access, and identity verification,” Isiavwe said.

He stressed the importance of robust identity and access management in adapting to cloud-first strategies and remote work environments.

He also used the analogy of unauthorised building access to illustrate the need for strong access control measures.

Isiavwe emphasised that cybersecurity relies on more than just technology, highlighting the need for collaboration among industry leaders, regulators, and solution providers to reinforce the digital ecosystem.

“For us at ISSAN, we believe that every ecosystem is as safe and secure as its weakest link. We also believe that the only way to ensure that there is consistency in the security posture of any ecosystem is through collaboration,” he said.

Olusola Odediran, Chief Information Security Officer at Nigeria Inter-Bank Settlement Systems (NIBSS) Plc., underlined the importance of compliance during a panel session, advocating for its integration into business practices and the use of algorithmic controls to maintain data integrity.

Eduje Ighoakpo, General Manager at Accion MicroFinance Bank, also spoke during the panel, drawing attention to the significance of human vigilance in preventing fraud.

He emphasised the need for a balance between technological safeguards and human intuition, urging organisations to implement robust security measures, conduct regular audits, and train their employees in cybersecurity best practices.

Ighoakpo further highlighted the need for continuous innovation in security technologies to combat evolving threats driven by artificial intelligence.

NAN