Reporting by Punch, FirstBank says it spends more than ₦6 billion annually on cybersecurity as digital threats against financial institutions intensify.
Chief Executive Olusegun Alebiosu said the lender maintains round-the-clock surveillance and has built a command centre to monitor its operations and respond to emerging attacks.
The disclosure underscores how cybersecurity is becoming a core operating cost for banks as artificial intelligence expands both the sophistication of attacks and the tools available for defence.
Independent confirmation was limited during this review. No second credible report was located that added sufficiently independent verification, so the item is presented with that limitation rather than with fabricated corroboration.
Echotitbits take: The development is worth watching for its practical effect on households, businesses, investors or public institutions. The next signal will be implementation, measurable outcomes and whether the responsible institutions publish follow-through data.
Source: Punch – https://punchng.com/firstbank-invests-n6bn-annually-against-cyber-threats/, 2026-09-10
Photo Credit: Investors King
