The CBN Risk-Based Cybersecurity Framework
The CBN maintains strict cybersecurity guidelines for Other Financial Institutions (OFIs) and Payment Service Providers (PSPs). The framework emphasizes a proactive approach to identifying and mitigating technical vulnerabilities.
Vulnerability Assessments
The CBN requires periodic vulnerability assessments to identify weaknesses in your infrastructure, applications, and APIs. These generally must be conducted at least twice annually, and major findings must be remediated promptly.
Penetration Testing
Annual penetration testing by independent, qualified third parties is a standard requirement. The test must simulate real-world attacks against your production-equivalent environments to prove that your defenses hold up under active exploitation.
Data Protection (NDPR/NDPC)
The Nigeria Data Protection Commission requires strict controls over PII (Personally Identifiable Information). Penetration testing proves to auditors that your customer data—like BVNs and transaction histories—cannot be exposed via API flaws (like BOLA) or insecure storage.
Secure Software Development Lifecyle (SSDLC)
Regulators increasingly look at how you build software, not just the finished product. Integrating security reviews into your sprint cycles demonstrates a mature SSDLC to CBN examiners.
How Simpa Labs reports support your audit
A compliance auditor evaluating your application needs proof that you are actively seeking and fixing vulnerabilities. A generic scanner report often raises red flags because it lacks context.
Simpa Labs provides detailed, contextual reporting that helps satisfy auditor requests:
- Executive & Management Summaries: Clear, high-level overviews of your risk posture suitable for board members and CBN examiners.
- Methodology Documentation: Proof that testing was conducted manually using industry-standard frameworks (like OWASP) and tailored to your specific application architecture.
- Remediation Verification: We offer retesting services to provide documented proof that critical vulnerabilities identified in the initial test were successfully patched, completing the compliance loop.
Have a compliance deadline approaching? We scope and execute fast.
Get a Quick Security Check