BoG deepens cybersecurity collaboration, set to revise key directive at FICSOC stakeholder forum

The Bank of Ghana (BoG) has reaffirmed its commitment to strengthening cybersecurity in the financial sector through enhanced collaboration and regulatory reform.

At the Financial Industry Command Security Operations Center (FICSOC) Stakeholders Forum held in Accra, First Deputy Governor Dr. Zakari Mumuni underscored the central bank’s strategic alliance with the Cybersecurity Authority, aimed at protecting Ghana’s financial institutions from increasing digital threats.

“The Cyber Security Authority has formally designated the Bank of Ghana as the Sectoral Computer Emergency Response Team (CERT) lead for the financial industry. This is more than a title, it’s a mandate to drive collective defense across the sector,” Dr. Mumuni said.

He noted that the financial sector’s critical information infrastructure faces evolving threats, including insider breaches, digital fraud, and advanced persistent threats. As Sectoral CERT lead, the Bank of Ghana is expected to spearhead cross-sector intelligence sharing and develop unified responses to cyber incidents.

“When we collaborate, we don’t fight alone, we defend with shared purpose and tools,” he added.

Dr. Mumuni also announced that the central bank is revising its Cyber and Information Security Directive to address new and emerging digital risks. The updated framework will incorporate guidelines for artificial intelligence, data privacy, cloud computing, and digital governance.

“The revised directive will be proportional and adaptive, ensuring institutions of all sizes can innovate while maintaining strong security standards,” he said.

The forum brought together a high-level mix of stakeholders, including central bank governors, director-generals of regulatory bodies, CISOs and CIOs from banks and financial institutions, and senior officials from the Bank of Ghana. It was organized under the auspices of the FICSOC — a threat intelligence-sharing platform created to foster collaboration, risk prioritization, and resource allocation across the financial ecosystem.

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