Risk Managers Task FG on Proper Risk Management Procedures, Data Protection Policies

The president, Raymond Akalonu (Right) with other dignitaries at the 2019 National Risk management.

By LOVETH AZODO, Lagos

The President/Chairman of the governing board, Risk Managers Society of Nigeria (RIMSOM), Raymond Akalonu has called on the federal government to put in place proper risk procedures as well as ensuring the effectiveness of the data protection policies to curb cyber crime in the country.

Akalonu made the call during his address at the 2019 National Risk Management Conference in Lagos, organised by the RIMSON, titled “Emerging Risks: Rising To The Challenge.”

According to him, a risk appraisal of a wide range of our national challenges has shown that our governance processes will guarantee greater results if proper risk management procedures are enthroned.

Delivering the theme paper, Managing Director, Custodian Investment Plc, Wole Oshin who was represented by stated that the absence of an effective data protection agency in Nigeria has made a lot of businesses vulnerable to cyberrisk stressing that the cybercriminals such as Hackivists, Insiders and third party service providers are the sources of these crimes.

On Mitigating strategies he opined that operators should often audit the user base action, Identify the users of systems/assets and align appropriately.

However, Director E-Government Development and Regulatory of the National Information Technology Development Agency (NITDA), Dr. Vincent Olatunji, represented by Chioma Oke Ogugua of NITDA, stated that part of the agency’s portfolio is to ensure the protection of individual collective privacy security and confidentiality of Information in Nigeria stressing that the agency has the right to regulate data protection and privacy in Nigeria.

He urged that people should form the habit of demanding for the reason why their data is needed before giving it out to anyone.
“On the basis of quoting data, you need the consent of the data subject, in a contract with people you are obliged to hold that information private until that contract expires.

On fighting cybercrime, Emmanuel Eze, Executive Director, SystemSpecs Nigeria represented by Kenneth Uche Eze urged that there should be improve in reporting incidents, establish a convergent national identity management system for tracking and reference purposes in the event of cyber crime.

“Companies should collaborate with telecommunication companies to ensure easy information retrieval regarding their client in case of any cyber related crime”

He urged Nigerians to work together to achieve a cyber crime free society.