…Says, financial transactions need protection
By Prince Osuagwu
Cyber security advocacy group, the Cyber Security Expert Association of Nigeria, CSEAN, has added voice in the call for the President, Muhammadu Buhari to assent to the Electronic Transaction bill, which has been passed by the Senate in May last year.
The group said that assenting to the bill becomes very crucial at the moment, when cyber criminals are becoming very daring, innovative and are seen destroying economies with just a click of the mouse.
The Electronic Transaction Bill is a bill that provides for the validity of contracts expressed in electronic forms, matters relating to evidence, security of online transactions, electronic signatures, disclosure of information, protection of personal data, and protecting the rights of consumers.
Speaking to journalists on the sideline of a Cyber Security Meetup in Lagos, the President of CSEAN, Mr. Remi Afon explained that the bill, which has been sitting on the President’s desk for some time now, will protect Nigerians in their financial transactions when finally signed into law.
Apart from protecting the majority of Nigerians in their financial dealings, the bill will also protect the banks and their infrastructure, as they can leverage it to prosecute cases and make claims.
He said the time has come when the government would show great seriousness in ensuring that Nigerians are protected in their financial transactions
He said: “As an advocacy group, we are calling on the President to assent to the Electronic Transaction Bill, as it will provide a legal and regulatory framework for conducting transactions using electronic or related media, and for the protection of the rights of consumers including the facilitation of electronic commerce in Nigeria.”
Wondering why a bill that seeks to protect the citizens against criminals is delayed, Afon argued that Nigeria is so lackadaisical when it comes to the issues of cyber security. He added that Nigerians always wait for an incident to happen before they can take action.
“The government really needs to hold the bull by the horn. Everybody, including the banks is feeling the impact of cybercrime, but the government has not really taken steps to secure the country’s cyber space,” he said.