In a world where artificial intelligence is the new game changer, Director-General of Nigeria’s Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, on Friday in Abuja, urged stakeholders to see cybersecurity as a critical component of financial stability and national security.
Agama, who delivered a goodwill message at a cybersecurity conference organised by the Central Securities Clearing System Plc, said AI has emerged as a powerful tool in the fight against cyber threats.
Given the intersection between AI and infrastructure security, he urged participants “to recognise that cybersecurity is not merely a technological issue—it is a strategic imperative. It requires collaboration, innovation, and continuous improvement in our defences.”
SEC Nigeria, he assured, is “actively exploring ways to leverage AI technologies to safeguard investor interests and maintain market integrity,” at a time AI-driven intelligence systems now offer the capability to monitor vast datasets in real-time, detect anomalies, and predict potential threats with remarkable speed and accuracy, he explained.
The commission, Agama assured, is ready to ensure a secure, resilient digital environment that guaranties investor protection, enhance market confidence, foster economic growth, and safeguard the integrity of the financial markets.
Speaking on the theme: “Cybersecurity: Synergizing Artificial Intelligence, AI and Infrastructure,” he noted that in today’s interconnected world, cybersecurity is no longer an isolated concern.
According to him, it is foundational to the very fabric of our economic and social systems because many activities, both personal and organizational, are now conducted digitally more than ever before.
This shift, he said, has brought immense efficiencies, just as it has introduced a new set of risks—cyber risks—that stakeholders must not only recognize but also actively guard against.
This, he continued, “became more apparent during the recent COVID-19 pandemic, which accelerated our reliance on technology, remote work, and digital platforms. The pandemic underscored the need to enhance cybersecurity measures to protect individuals, organizations, and sectors from threats lurking in cyberspace.”
The SEC Nigeria, assured, understands “the vital importance of cybersecurity, particularly in the financial sector. People’s hard-earned savings and investments depend on the integrity of our capital markets, which deserve robust strategies to mitigate cyber risks. Cyber-attacks targeting financial institutions are often aimed at gaining access to sensitive and confidential information, which can have systemic implications not just for a single institution but for the broader economy.
For Nigeria where digitalisation is steadily advancing across sectors such as finance, healthcare, and telecommunications, the SEC boss said AI holds the promise of not only improving efficiencies but also securing the digital economy adding that in the capital markets, AI-driven systems can enhance surveillance, detect fraud, and manage risk.
“In addition to AI, automated response mechanisms can significantly reduce the time between the detection of a threat and the implementation of countermeasures. Automation in areas such as patch management, access control, and incident response is crucial to addressing the growing volume of threats that human teams alone cannot manage.
“As the Apex Regulator of the capital market in Nigeria, we are committed to ensuring that the capital markets are protected by robust cybersecurity frameworks that balance innovation with accountability.
“While AI offers great promise, it must be complemented by resilient infrastructure. Without a secure and adaptable digital infrastructure, even the most sophisticated AI systems can become vulnerable to cyber threats” , he stressed.
Agama disclosed that in Nigeria, where digital infrastructure is still developing, security must be integrated at every layer—from communication networks to data centres adding that the SEC is committed to working with government bodies and industry players to strengthen the cybersecurity infrastructure of the capital markets, ensuring they are equipped to withstand emerging threats.
On his part, Vice President Kashim Shettima noted the critical role a robust cyber security plays in the nation’s economy in reshaping industries and infrastructure.
Shielding Nigeria’s system from the ever increasingly sophisticated cyber threats, he believes, has never been more important, stressing that “cyber security is not just a technical issue it is a fundamental ingredient of our economic stability and growth.
He commended the National Security Adviser, Mallam Nuhu Ribadu and his team for their efforts in fostering a digital environment that encourages investments and innovation.
“Together, we can build a resilient framework that infrastructure and a thriving digital economy”.
Welcoming participants to the conference, the Managing Director and Chief Executive of CSCS Plc, Haruna Jalo-Waziri said the evolution from the information age to the digital age presents both remarkable advancements and formidable risks, as Nigeria navigates deeper into the 21st century.
For him, “the emergence of new technologies reshapes how we operate, but it also brings new vulnerabilities, including sophisticated cyber threats. collaboration is key to addressing these multifaceted challenges. By bringing together diverse expertise and perspectives, we can foster a more resilient cybersecurity framework.”
The role of the Office of the National Security Adviser (ONSA) as Nigeria’s custodian of cybersecurity laws is crucial in guiding our collective efforts.
“As we explore these themes, let us not forget the intrinsic value of human intelligence. The more I delve into artificial intelligence, the more I appreciate our own capacity for judgment, creativity, and empathy.”
Also, he believes that acknowledging Nigeria’s position, particularly in Africa, “we must work to improve our understanding of these threats. We must learn, decide and act quickly and decisively. Cybersecurity is no longer just an IT issue; it is a national priority that affects our economic stability and public trust.”
