Onyema urges businesses to rethink data importance to remain competitive



Stakeholders in the Nigerian equity market need to rethink the importance of data in order to remain competitive in business, the CEO of The Nigerian Stock Exchange (NSE), Mr. Oscar Onyema has said.

The NSE boss who was represented by Ms. Tinuade Awe, Executive Director, Regulation, stated this at 7th edition of the bourse’s bi-annual Nigerian Capital Market Information Security Forum (NCMISF) organized by the NSE, themed, “The Nigeria Data Protection Regulation: Achieving Compliance”,  in Lagos on Thursday.

“Our ethics and reputation are important to us, hence we must protect our data, including those entrusted to our care relating to natural persons. Respecting data privacy rules is the reason for our gathering today. We are not only set to safeguard the rights of natural persons to data privacy, but we are also poised to ensure that Nigerian businesses remain competitive in international trade through the safe-guards afforded by a just and equitable legal regulatory framework on data protection and which is in tune with best practice,” he noted.

The one-day free to attend event brought together leading industry data privacy and security experts and capital market stakeholders to share actionable information on the prevailing data protection regulation which is aimed at achieving privacy by default and privacy by design. The forum also highlighted how organizations can comply with this regulation on an ongoing basis, as a means of protecting client data and boosting investor’s confidence.

The event provided participants with a perfect opportunity to get a deeper understanding of present and developing trends in Information Security through case studies on topics ranging from how the industry is redefining their Data Protection Regulation practice to developments in protecting Personally Identifiable Inf​ormation (PII) and data protection regimes. Participants were also exposed to effective strategies and best practices in ensuring information privacy is in compliance with the Nigeria Data Protection Regulation (NDPR) and the international General Data Protection Regulation.

The 7th edition of NCMISF featured presentations and panel discussions by National Information Technology Development Agency (NITDA) licensed Data Protection Compliance Organisations (DPCO) such as Michael Ango, Associate Director, Andersen Tax; Akin Oyegoke, Managing Consultant, Johan Consults; John Anyanwu, Partner, Technology Advisory, KPMG Advisory Services and Linus Osita Okeke, Partner, Ernst & Young. Mrs. Oluyemi Obadare, Business Continuity Manager, NSE will also be speaking at the forum.​

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