CBN to review IT standards in banking sector

Godwin Emefiele

Central Bank of Nigeria in collaboration with the Information and Technology Standards Council is reviewing the IT standards blueprint in the banking sector.

The aim is to align the IT standards in the sector to current realities and trends in the financial sector.

The IT Standards Council, a body set up by the CBN, is also planning to drive an industry-wide remediation exercise on the gaps identified during the baseline assessment that was conducted on banks last year.

These were outcome of a meeting between the Deputy Governor, Operations, CBN, Suleiman Barau, and outgoing members of the IT Standards Council in Lagos on Friday.

The meeting was a forum where activities and achievement of the council in the last two years were discussed.

Barau, who commended the outgoing council members for their achievements, assured them of the CBN’s continued support.