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CBN CYBERSECURITY SELF-ASSESSMENT REPORT

CYBER SECURITY ASSESSMENT TOOL (CSAT) - 2024

Submitted in compliance with CBN Circular BSD/DIR/GEN/LAB/11/042

Report ID: CBN-CSAT-2024-001
Submission Date: December 15, 2024

Institution: Prime Microfinance Bank Ltd.
CBN License: MFB/001/2023

EXECUTIVE SUMMARY

Overall Compliance Score

87.5%

EXCELLENT

Prime Microfinance Bank demonstrates strong cybersecurity compliance with an overall score of 87.5%. The institution meets or exceeds requirements in 11 out of 14 CBN cybersecurity domains.

92%

Controls Implemented

144

Controls Assessed

Areas for Improvement

Domains Covered

DOMAIN PERFORMANCE SUMMARY

Domain	Description	Score	Status
GOV-01	Cybersecurity Governance	92%	Excellent
RM-02	Risk Management	88%	Excellent
AC-03	Access Control	85%	Good
IR-04	Incident Response	82%	Good
BC-05	Business Continuity	78%	Fair
VA-06	Vulnerability Assessment	65%	Fair

KEY RECOMMENDATIONS

Enhance Vulnerability Management Program

High Priority

Implement automated vulnerability scanning tools and establish a formal patch management process.

Timeline: 30 days | Domain: VA-06

Update Business Continuity Plan

Medium Priority

Conduct full-scale business continuity testing and update recovery time objectives.

Timeline: 90 days | Domain: BC-05

Enhance Security Awareness Training

Low Priority

Implement quarterly security awareness training with phishing simulation exercises.

Timeline: 180 days | Domain: SA-07

Generated by AutoCSAT 2.0 - CBN Cybersecurity Compliance Platform

Confidential - For Internal Use and CBN Submission Only

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CBN CYBERSECURITY ASSESSMENT SUMMARY - PRIME MICROFINANCE BANK LTD
Report Generated	December 15, 2024	Assessment Year	2024	Overall Score	87.5%
EXECUTIVE SUMMARY
Total Controls	144	Controls Implemented	132	Implementation Rate	92%
High Priority Items	3	Medium Priority Items	3	Low Priority Items	2
DOMAIN PERFORMANCE DETAIL
Domain Code	Domain Name	Total Controls	Implemented	Score (%)	Status
GOV-01	Cybersecurity Governance	15	14	92%	Excellent
RM-02	Risk Management	12	11	88%	Excellent
AC-03	Access Control	18	16	85%	Good
IR-04	Incident Response	10	9	82%	Good
BC-05	Business Continuity	14	12	78%	Fair
CONTROL LEVEL DETAIL
Control ID	Control Description	Maturity Score	Implementation	Evidence Count	Last Reviewed
GOV-01.01	Cybersecurity policy approved by Board	5/5	Fully Implemented	3	2024-11-30
GOV-01.02	Designated Chief Information Security Officer	5/5	Fully Implemented	2	2024-11-28
RM-02.01	Risk assessment conducted annually	4/5	Mostly Implemented	4	2024-10-15
RM-02.02	Risk register maintained and updated	3/5	Partially Implemented	2	2024-10-15
RECOMMENDATIONS AND ACTION PLAN
Priority	Control ID	Recommendation	Responsible	Due Date	Status
High	VA-06.03	Implement automated vulnerability scanning	IT Department	2025-01-15	Pending
High	BC-05.04	Update BCP testing schedule	Operations	2025-01-30	In Progress
Medium	SA-07.02	Conduct phishing simulation exercise	HR & IT	2025-03-15	Planned

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CYBERSECURITY SELF-ASSESSMENT REPORT

Prime Microfinance Bank Ltd.
CBN License: MFB/001/2023
Assessment Period: January 1, 2024 - December 31, 2024

1. Executive Summary ........................................................................... 2
2. Assessment Methodology ............................................................... 3
3. Domain Performance Analysis ...................................................... 4
4. Detailed Control Assessment ....................................................... 6
5. Recommendations and Action Plan ............................................. 12
6. Evidence Summary ........................................................................ 15
Appendix A: CBN Control Framework ............................................ 17
Appendix B: Supporting Evidence .................................................. 19

1. EXECUTIVE SUMMARY

This report presents the results of the cybersecurity self-assessment conducted by Prime Microfinance Bank Ltd. in compliance with CBN Circular BSD/DIR/GEN/LAB/11/042.

Key Findings

Overall Compliance Score: 87.5% (Excellent)
Total Controls Assessed: 144 controls across 14 domains
Implementation Rate: 92% of controls fully or partially implemented
Areas of Strength: Cybersecurity Governance, Risk Management, Access Control
Areas for Improvement: Vulnerability Management, Business Continuity Testing

Conclusion

Prime Microfinance Bank demonstrates a mature cybersecurity posture with comprehensive implementation of CBN requirements. The institution is well-positioned to address identified improvement areas within the recommended timelines.

2. ASSESSMENT METHODOLOGY

The assessment was conducted using the CBN Cybersecurity Assessment Tool (CSAT) framework and the AutoCSAT 2.0 platform.

Assessment Process

Planning Phase: Defined assessment scope, timeline, and team
Data Collection: Gathered policies, procedures, and technical evidence
Control Assessment: Evaluated each control using 0-5 maturity scale
Gap Analysis: Identified areas requiring improvement
Report Generation: Compiled findings and recommendations

Maturity Scoring Scale

0 - Non-existent: Control not implemented
1 - Initial/Ad-hoc: Informal implementation
2 - Repeatable: Process is repeatable but not standardized
3 - Defined: Formal process defined and documented
4 - Managed: Process measured and monitored
5 - Optimized: Continuous improvement based on metrics

3. DOMAIN PERFORMANCE ANALYSIS

3.1 Cybersecurity Governance (GOV-01)

Score: 92% | Status: Excellent
The institution has established a comprehensive cybersecurity governance framework with Board-level oversight and clear policies.

3.2 Risk Management (RM-02)

Score: 88% | Status: Excellent
Risk management processes are well-established with regular assessments and maintained risk registers.

3.3 Access Control (AC-03)

Score: 85% | Status: Good
Strong access control mechanisms with role-based access and regular reviews.

AutoCSAT 2.0 Generated Report | Page 1 of 8

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