Chief Technology Officer of Apex Web Network, David Efemena Ominiabohs, has called on Nigerian companies to adopt bug bounty programmes and integrate cybersecurity measures from the earliest stages of product design to combat the growing threat of cyberattacks.
Speaking in Lagos at the Apex Tech Summit themed “The African Digital Economy: Building the Infrastructure for the Next Billion Users”, the fintech expert, who has over a decade of experience in digital innovation, stressed that bug bounty programmes — which engage ethical hackers to identify and report system vulnerabilities — are an underutilized yet highly effective tool in Nigeria’s cyber defence strategy.
“Bug bounty programmes allow local hackers to test your platform. If they find vulnerabilities, they inform you immediately. This is something we’re not practising enough in Nigeria,” Ominiabohs said.
He noted that these proactive measures help organisations address weaknesses before malicious actors can exploit them.
Security from Day One
Ominiabohs warned that many companies delay considering cybersecurity until after product launch, leaving systems exposed.
“By the time they realise security should have been part of the build, it’s already too late and they start playing catch-up,” he said.
He cautioned that a single breach can irreparably damage a company’s reputation, adding that internal vigilance is critical. His team regularly conducts phishing simulations to keep employees alert.
“That one careless click can lead to our downfall. Security must always be taken seriously,” he emphasised.
Local Data Storage for Safer Systems
Highlighting the importance of data sovereignty, Ominiabohs advocated for more local data centres to store sensitive Nigerian data domestically, reducing risks of leaks and boosting public trust.
“If we have several data centres in Nigeria to store Nigerian-based data, it will reduce the risk of leaks and trust issues,” he explained.
He likened the approach to the earlier banking model of using on-premise networks before migrating to cloud systems, stressing that fintech and other industries must exercise similar caution.
Building Locally Before Expanding
Ominiabohs also urged African startup founders to master their home markets before scaling internationally.
“Understand your country and state first. Build locally, test your ideas, improve them, and grow before chasing compliance in multiple regions,” he advised.
He acknowledged that African startups face tougher compliance hurdles compared to European counterparts, but noted the advantage of being able to innovate quickly before pursuing full regulatory certifications.
Drawing from Apex’s journey, he revealed it took the company over three years to secure major compliance licences, and that it is currently operating in seven African countries while focusing on strengthening its footprint and regulatory readiness across the continent.
“We’re going into more regulated markets, so we need to be fully prepared. Compliance readiness in Africa will position us better for stricter global regulations,” he concluded.
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