Financial institutions race to meet CBN deadline on new cyber-security standard

Nigerian financial institutions are racing to meet the June 10, 2026 deadline set by the Central Bank of Nigeria (CBN) for onboarding a new cyber-security baseline. While most tier-1 banks are on track, many smaller institutions, including around 900 microfinance banks, lack Chief Information Security Officers, leaving them vulnerable. The standard aims to enhance systems for Anti-Money Laundering and Combating Financial Terrorism.