The Federal Government has received a major boost in its drive to strengthen Nigeria’s cybersecurity ecosystem following a proposal by global payments technology company Mastercard to establish a Cyber Centre of Excellence in the country.
The proposal was presented on Thursday at the State House, Abuja, when Mastercard’s Global Chief Executive Officer, Michael Miebach, led a delegation on a courtesy visit to President Bola Tinubu.
The proposed centre is expected to serve as a national platform for cybersecurity collaboration, focusing on cyber threat intelligence, artificial intelligence risk management, fraud prevention, and capacity building to strengthen Nigeria’s digital economy.
Speaking during the visit, Miebach commended the Tinubu administration for achieving greater alignment between fiscal and monetary policies, describing the approach as a key factor driving macroeconomic stability and improving investor confidence.
He disclosed that Mastercard currently prevents approximately 200 million dollars in fraud annually through its advanced cybersecurity technologies and contributes about two billion dollars in foreign exchange inflows into Nigeria through its operations.
According to him, the company is prepared to deepen its investment in Nigeria through strategic digital initiatives that extend beyond payment services.
A major component of the proposed partnership is the establishment of the Cyber Centre of Excellence, which would support the collection, analysis and sharing of cyber threat intelligence, while helping public and private sector organisations address emerging cybersecurity challenges, particularly those associated with artificial intelligence.
The centre is also expected to enhance collaboration among government institutions, financial organisations, technology companies and cybersecurity professionals to improve national cyber resilience against increasingly sophisticated cyber threats.
In addition to the cybersecurity initiative, Mastercard announced plans to launch a three year digital skills programme aimed at equipping five million Nigerian small businesses with practical digital capabilities to improve productivity, expand market access and strengthen participation in the digital economy.
President Tinubu welcomed the proposals, describing Nigeria’s youthful population as one of the country’s greatest competitive advantages.
He said Nigerian youths possess strong digital capabilities and entrepreneurial potential, expressing confidence that strategic investments in technology, innovation and cybersecurity would position the country to compete effectively in the global digital economy.
The President reaffirmed his administration’s commitment to creating an enabling environment for technology driven investments and partnerships that promote digital inclusion, innovation, cybersecurity and sustainable economic growth.
The proposed Cyber Centre of Excellence aligns with Nigeria’s broader digital transformation agenda, which places increasing emphasis on strengthening cybersecurity infrastructure, improving cyber resilience and developing local digital talent as critical pillars for economic diversification and national security.
If implemented, the initiative is expected to significantly enhance Nigeria’s capacity to detect, prevent and respond to cyber threats while supporting the safe adoption of artificial intelligence and other emerging digital technologies across critical sectors of the economy.
