Seamfix Limited has reaffirmed its commitment to bolstering cybersecurity in Nigeria’s financial sector, advocating for biometric-based security solutions as a frontline defence against insider fraud. The company made this known as a platinum sponsor at the 2025 Annual Conference of the Committee of Chief Information Security Officers of Nigerian Financial Institutions (CCISONFI) held in Uyo, Akwa Ibom State.
The conference brought together Chief Information Security Officers (CISOs), IT executives, and cybersecurity experts from financial institutions across the country to discuss rising cyber threats and resilience strategies in Nigeria’s rapidly evolving digital finance space.
At the event, Chimezie Emewulu, Group CEO and Co-founder of Seamfix, highlighted the increasing threat posed by insider fraud in financial institutions. He argued that traditional security models are no longer sufficient and called for identity-driven security systems that go beyond simple device-level authentication.
“Insider fraud is a recurring issue that thrives on weak access control and poor visibility,” Emewulu said. “That is why we built Seamfix iAM, which uses biometric-based Multi-Factor Authentication (MFA) to authenticate users at the application level. This makes it impossible for unauthorised individuals to bypass internal controls, even from within the organisation.”
Seamfix iAM is designed to help banks and other financial institutions enforce strict access governance, immediately cut off access for former employees, and monitor real-time login attempts. The emphasis on biometric MFA addresses a key vulnerability in many digital systems—unauthorised internal access due to poorly managed credentials.
According to data cited by Tekedia, Nigerian banks witnessed a 23.4% increase in insider fraud cases between Q1 and Q2 2024, jumping from 47 cases to 58. In a separate 2024 report, the Economic and Financial Crimes Commission (EFCC) revealed that approximately 70% of fraud in the Nigerian banking sector involves insider collaboration.
Seamfix’s message at the conference underlined the urgency for institutions to evolve beyond passwords and device-based protections. With more organisations operating in multi-cloud environments, Emewulu noted that securing visibility and managing user identities are now mission-critical.
The CCISONFI conference served as a platform for institutions to share knowledge, explore innovations, and develop coordinated cybersecurity strategies. As a key sponsor, Seamfix used the opportunity to push for deeper investment in digital identity and zero-trust access controls, particularly amid rising threats from within.
As Nigerian banks continue their digital transformation journeys, Seamfix’s technology offers tools to manage user access proactively—an essential step in restoring trust and accountability within internal networks.
