The Bank of Ghana (BoG) is championing the establishment of a robust cybersecurity framework and effective data privacy controls to support an efficient cryptocurrency system across central banks in the sub-region
According to the BoG, this goal can only be achieved through stronger collaboration among countries in West Africa.
Speaking at the opening ceremony of the WAIFEM Regional Course on Cybersecurity and Crypto/Digital Currency in Accra, the Acting Head of Cyber and Information Security at BoG, Daniel Klu, who delivered a speech on behalf of the Governor, Dr. Johnson Pandit Asiama, emphasized the need for deliberate efforts to build a secure and resilient digital currency ecosystem.
“The success of any digital currency initiative depends on a robust security architecture, legal clarity, effective data privacy safeguards, and strong consumer protection frameworks. A digital currency that is vulnerable to cyberattacks or manipulation could undermine financial stability and public confidence,” he stated.
For his part, the Director of the Financial Sector and Payment Systems Department at the West African Institute for Financial and Economic Management (WAIFEM), Amadou Koora, who spoke on behalf of the Director-General, Dr. Baba Y. Musa, highlighted the importance of knowledge sharing in addressing the challenges hindering effective digital currency systems.
“At WAIFEM, we believe that building regional resilience against cyber threats requires more than technology — it requires knowledge, collaboration, and capacity. This course brings together policymakers, regulators, IT professionals, and financial experts from across West Africa to deepen their understanding of emerging digital risks and strengthen the region’s collective response,” he said.
