Why companies should prioritise protection of customers’ data – Expert
By Funmilola Gboteku
Cybervergent, a cybersecurity technology company, on Thursday, urged companies to prioritise protection of customers’data to foster trust and maintain positive brand image.
The Chief Executive Officer of Cybervergent, Adetokunbo Omotosho, made the call during a media briefing organised by the company in Lagos.
According to Omotosho, in today’s data-driven world, customer trust is paramount, noting that a breach could erode trust and damage a company’s reputation.
He said in 2022, the Nigerian financial sector recorded financial losses worth more than N2 trillion to cybersecurity breaches.
Omotosho said, hence, there was an urgent need for the Nigerian business community to build a robust cybersecurity solution and resilience to manage future losses.
“Many industries have stringent regulations regarding the protection of sensitive information, but cybersecurity measures ensure compliance with these regulations, avoiding legal consequences and financial penalties for organisations found wanting.
“As businesses embrace digital transformation, cybersecurity becomes an enabler for innovation. This is because secure digital platforms and emerging technologies empower organisations to explore new business models and stay competitive,” he said.
According to Omotosho, cybersecurity is fundamental in securing critical national infrastructure such as power grids, communication networks and financial systems.
He explained that a cyber-attack on these infrastructure could have severe consequences for the nation’s stability and well-being.
Omotosho noted that cybersecurity was closely tied to the economic health of a nation, adding that successful cyber-attacks could disrupt national activities leading to economic losses and potential job cuts.
“Constant monitoring and analysis of cyber threats provide valuable intelligence for national security agencies.
“Collaboration between the public and private sectors is crucial to sharing threat intelligence and responding effectively to emerging cyber threats.
“In essence, investing in robust cybersecurity measures is an investment prosperity,” Omotosho said.
He noted that his company understood that cybersecurity was not just a defensive measure but a strategic asset that empowered businesses to thrive in the digital landscape.
Speaking on the company’s name change, Omotosho said Cybervergent was formally known as Infoprive, a pioneering technology company dedicated to revolutionising the cybersecurity landscape in Africa.
He said the strategic shift marked a significant milestone in the company’s unwavering commitment to pioneer Africa’s cybersecurity through innovation, automation and all-encompassing scaled solutions.
Omotosho said: “For us, Cybervergent represents not just a name change, but the convergence of cutting-edge technology and our resolute commitment to safeguarding businesses in the digital age on the continent, starting from Nigeria, Africa’s largest economy.
“With our refreshed brand identity, we are poised to evolve the cybersecurity landscape, offering a comprehensive suite of solutions designed to thwart cyber threats, streamline security operations, and enhance overall business resilience.
“We are setting a new standard in the cybersecurity space with our advanced automated platform leveraging artificial intelligence and machine learning algorithms.
“This innovative approach empowers businesses to fortify their digital assets, detect real-time threats, and respond swiftly to evolving cyber breaches.” (NAN)
Edited by Salif Atojoko
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