By Damilola Fatunmise
Olajide Osundare, a celebrated expert in network and security engineering, recently participated in a detailed interview session where he discussed pressing issues in the industry. With over eight years of experience, Osundare has been instrumental in implementing innovative solutions in financial systems and enterprise networks, focusing on scalability, security, and operational excellence.
Currently serving as the Head of Network and Security at Nigeria Inter-Bank Settlement System Plc, Osundare shared his insights on key industry trends, lessons from cybersecurity incidents, and his vision for the future.
Network design has undergone significant changes in recent years. From your perspective, what are the most critical trends shaping enterprise and financial systems today?
Network design has entered an era of adaptability and resilience. Software-Defined Networking (SDN) is a transformative technology allowing organizations to manage networks dynamically. This is especially critical for financial systems, which require real-time responses and high availability. SDN simplifies operations, optimizes resource utilization, and improves scalability.
Another pivotal development is the shift to IPv6. With the explosion of connected devices, IPv4 is no longer sufficient to meet global demands. IPv6 not only provides a larger address space but also introduces advanced features such as improved security protocols and enhanced traffic routing.
Hybrid architectures combining on-premises systems with cloud platforms are also reshaping enterprise networks. They offer the flexibility and scalability necessary to meet the growing demands of modern businesses. These trends are not just theoretical; I’ve implemented them in large-scale projects like Nigeria’s domestic card scheme, which required a robust, future-proof infrastructure.”
According to Kaspersky, ransomware attacks in Nigeria increased by 7% in H1 2023 compared to H1 2022. What lessons can financial institutions learn from this trend, and how can they better protect themselves?
The 7% increase in ransomware attacks is alarming but not surprising given the sophistication of modern cybercriminals. Financial institutions must take a multi-layered approach to cybersecurity. First, proactive threat detection is essential. Behavioral analytics and machine learning can help identify unusual activity early on, such as sudden spikes in data encryption or unauthorized access attempts.
Second, regular vulnerability assessments and penetration testing are crucial. These measures allow organizations to identify weak points in their systems before attackers exploit them. At MTN, we implemented a real-time monitoring system that significantly improved our ability to detect and mitigate potential threats.
Lastly, a robust incident response plan is non-negotiable. Organizations must be prepared to isolate affected systems, restore operations using secure backups, and communicate transparently with stakeholders. Cybersecurity is not just about technology; it’s about strategy, culture, and ongoing investment.
Can you share how advanced network protocols were instrumental in scaling Nigeria’s domestic card scheme?
The domestic card scheme required a sophisticated and scalable network infrastructure. We implemented SD-WAN, which allowed us to dynamically manage traffic across multiple locations while ensuring redundancy and high availability. This was critical for maintaining uninterrupted operations during peak transaction periods.
Active/Active Data Center architecture played a key role. Unlike traditional setups, this architecture ensures that both data centers operate simultaneously, providing seamless failover capabilities. The use of IPv6 and MPLS further enhanced scalability, enabling the system to handle an increasing number of users without compromising performance.
This project was a testament to the power of advanced network protocols in creating reliable, secure, and scalable financial systems that can adapt to future demands.
IPv6 adoption is a significant milestone for many organizations. What challenges have you encountered in this process, and how can enterprises navigate the transition effectively?
IPv6 adoption comes with its challenges, primarily due to legacy systems that are not fully compatible with the new protocol. One solution is to use a dual-stack approach, where IPv4 and IPv6 operate simultaneously. This ensures service continuity while gradually transitioning to IPv6.
Another challenge is the lack of expertise within IT teams. Many professionals are more familiar with IPv4, so training is essential. At Nigeria Inter-Bank Settlement System, we invested heavily in upskilling our team, providing them with the knowledge and tools needed to manage and optimize IPv6 environments effectively.
My advice to enterprises is to start with non-critical systems for initial implementation. This allows teams to gain experience and iron out any challenges before rolling out IPv6 on a larger scale. Planning, training, and phased execution are key to a successful transition.
With Fintech rapidly expanding, how do you see network security evolving to meet the sector’s demands?
Fintech is a high-stakes sector where trust and security are paramount. Network security is evolving to include predictive measures, focusing on identifying and neutralizing threats before they occur. AI and machine learning are at the forefront of this shift, enabling real-time threat detection and automated responses.
Technologies like IPSEC VPNs and Cisco Firepower are critical for ensuring data encryption and secure communications. Additionally, zero-trust architectures, which require continuous verification of every user and device, are becoming the standard in Fintech.
As regulatory compliance becomes more stringent, Fintech companies must strike a balance between innovation and security. By leveraging advanced technologies and adhering to best practices, the sector can maintain its growth trajectory while safeguarding customer data.
AI integration in network operations gained momentum in 2023. How do you see AI shaping the future of network management and cybersecurity?
AI is revolutionizing network management by automating complex processes and enabling predictive capabilities. In network operations, AI-driven tools can analyze traffic patterns to identify potential bottlenecks or failures before they occur. This reduces downtime and improves overall efficiency.
In cybersecurity, AI excels at detecting anomalies in real-time. Machine learning models can analyze vast amounts of data to identify patterns indicative of a potential threat. At MTN, we piloted an AI-based monitoring system that enhanced our ability to respond to security incidents swiftly and effectively.
The future of AI in network management lies in its ability to adapt and learn continuously, making networks smarter, more resilient, and better equipped to handle emerging challenges.
You’ve often emphasized the importance of mentorship and skill development. How can the industry address the growing skills gap in network engineering and cybersecurity?
The skills gap is a pressing issue that requires a concerted effort from industry leaders, educational institutions, and policymakers. Mentorship is a critical component. Experienced professionals must actively guide and support newcomers, helping them build confidence and technical expertise.
Structured training programs and certifications from organizations like Cisco can bridge the gap between theoretical knowledge and practical application. At every organization I’ve worked with, I’ve emphasized the need for hands-on training to prepare engineers for real-world challenges.
Additionally, collaboration with academic institutions can ensure that curricula are aligned with industry needs. By offering internships, apprenticeships, and training opportunities, we can create a pipeline of skilled professionals to meet the growing demand in network engineering and cybersecurity.
The rise of ransomware attacks has brought disaster recovery plans into focus. What best practices would you recommend for businesses to ensure resilience?
Disaster recovery is a critical aspect of cybersecurity. Businesses must prioritize creating robust backup systems that are isolated from the primary network. Regularly testing these backups is essential to ensure they are functional and can be restored quickly in the event of an attack.
Segmenting the network is another best practice. By isolating critical systems, businesses can limit the spread of ransomware and minimize damage. At Nigeria Inter-Bank Settlement System, we implemented segmentation strategies that proved effective in safeguarding sensitive data.
Finally, regular training for employees is crucial. Many ransomware attacks begin with phishing emails. By educating staff on recognizing and avoiding such threats, businesses can significantly reduce their risk.
What role does regulatory compliance play in shaping network security strategies, particularly in the financial sector?
Regulatory compliance is a cornerstone of network security in the financial sector. It ensures that organizations adhere to industry standards, protecting customer data and maintaining trust. Compliance frameworks often mandate robust encryption protocols, regular audits, and incident reporting, all of which contribute to a stronger security posture.
At the same time, compliance can be a catalyst for innovation. For example, while meeting regulatory requirements, organizations often discover opportunities to improve their systems, streamline operations, and enhance security. The key is to view compliance not as a burden but as an integral part of building a resilient and trustworthy network infrastructure.
Looking ahead, what do you see as the biggest challenge—and opportunity—in network engineering and cybersecurity?
The biggest challenge is the growing complexity of networks and the sophistication of cyber threats. As organizations adopt advanced technologies, the attack surface expands, requiring more robust and adaptive defenses.
However, this also presents an opportunity. By leveraging AI, zero-trust architectures, and predictive analytics, we can build networks that are not only secure but also resilient and scalable. The real opportunity lies in collaboration—between governments, industries, and academia—to create innovative solutions and establish global standards for cybersecurity.