Banking and Financial Services

Forensics, Cybersecurity, and Data Governance for Nigeria's Banking and Financial Sector

Nigeria's banking and financial services sector operates at the intersection of enormous opportunity and extraordinary risk. It handles billions of naira in daily transactions, holds the sensitive data of millions of customers, and faces a threat landscape that includes sophisticated cybercriminals, fraudulent insiders, Business Email Compromise actors, and state-sponsored attackers, all drawn by the concentration of financial value that banks and financial institutions represent. Add to this the pressure of intense regulatory scrutiny, and the picture becomes clear: security is not optional, it is operational.

We serve this sector with a comprehensive suite of forensic, cybersecurity, and data governance services specifically calibrated for the financial services environment, combining deep sector knowledge, regulatory awareness, and operational experience to deliver the protection and investigative capability that financial institutions need.

THE SECTOR'S THREAT AND REGULATORY REALITY

Nigerian banks reported losses of ₦14.3 billion to electronic fraud in 2022, up from ₦12.7 billion in 2021, with cybercrime incidents continuing to rise despite significant security investment.

The CBN Risk-Based Cybersecurity Framework and Guidelines for Deposit Money Banks and Payment Service Banks imposes specific requirements on banks, including mandatory security assessments, incident response plans, designated Chief Information Security Officers, and regular staff training.

Business Email Compromise attacks targeting Nigerian financial institutions have resulted in multi-million naira losses from single incidents, with legal and correspondent banking relationships frequently among the collateral victims.

Insider fraud in Nigerian financial institutions accounts for a disproportionate share of financial losses, often because investigation capacity has not kept pace with fraud volume.

Bank supervisory examinations now routinely incorporate cybersecurity assessments, with institutions unable to demonstrate adequate controls facing regulatory action.

HOW WE SERVE FINANCIAL INSTITUTIONS

Digital Forensics for Financial Crime Investigations. When fraud, theft, or data breaches occur, our forensic team investigates: recovering evidence from staff devices, analysing transaction records, and producing court-ready forensic reports that support criminal prosecution, regulatory reporting, and civil recovery.

Employee Device Misuse and Insider Fraud Investigations. We investigate suspected employee misconduct covertly and rigorously, establishing the evidentiary basis for disciplinary action and, where warranted, criminal referral, while minimising the risk of wrongful dismissal claims.

CBN Cybersecurity Framework Compliance. We assess your institution's compliance with the CBN Risk-Based Cybersecurity Framework and Guidelines and other applicable requirements, identifying gaps and supporting the remediation work needed to satisfy regulators and auditors.

Penetration Testing and Vulnerability Assessment. We test banking systems, internet banking platforms, mobile applications, and network infrastructure, identifying vulnerabilities before attackers exploit them and satisfying the regular testing requirements of the CBN Framework.

Security Operations and 24/7 Monitoring. Our Managed SOC provides continuous monitoring tailored to the financial services threat landscape, watching for the fraud patterns, account takeover attempts, and network intrusions that disproportionately target banks.

Data Protection and NDPA Compliance. Financial institutions are among the largest processors of personal data in Nigeria. We build the data protection frameworks, policies, and processes needed to comply with the Nigeria Data Protection Act 2023 and protect customer data.

Data Recovery.