Cyber security experts have said limited resources, lack of awareness and skills gap have made Nigeria’s financial institutions and businesses vulnerable to attacks.
They urged financial institutions to increase investment in cyber security to protect their system from hackers.
An IT expert, Oluwasolape Akinde, stated this at the grand finale of SecureHack 1.0 at the Eko Innovation Centre in Lagos yesterday.
He called for best practices for strengthening cyber security, collaborations and partnerships.
Akinde said, “Collaboration and partnerships allow for the sharing of information and expertise, pooling of resources, and coordination of efforts to address common cybersecurity challenges.
Another security expert, Imeh Udofia stated that robbery attacks on banks have been replaced by cyber attacks, saying, “I know on a daily basis, organisations are being hacked.”
Founder of Eko Innovation Centre and Curator of SecureHack 1.0, Victor Afolabi, emphasized the importance of cybersecurity and the need for innovation in addressing security threats.
At the end of the process, Team HealthWaka comprising the trio of Omolola Oluwadara, Product development manager; Kehinde Abolaji, Technical Lead and Ozemhoya Anthonia, Biologist, emerged overall winners of the competition. They also won the grand prize of the hackathon which is the sum of one million naira and an acceleration programme investment of up to $50k equity Investment to get their products ready for the market among other benefits.