Union Bank of Nigeria Plc has secured certification under the Payment Card Industry Data Security Standard (PCI DSS) version 4.0.1, strengthening its payment-security controls as Nigerian banking becomes increasingly dependent on digital transactions.
The certification, which took effect on August 11, follows a year-long assessment of the bank’s payment ecosystem, according to information released by Union Bank.
The review covered network infrastructure, card issuance, automated teller machines (ATMs), point-of-sale (POS) transactions and payment-processing activities. It also examined reconciliation, settlement, chargebacks and retail banking operations.
Union Bank said it was certified under the PCI DSS Service Provider category, demonstrating that the systems and processes within the assessed environment met the applicable requirements for protecting payment-card data.
The bank worked with digital-security company Digital Encode during the implementation phase, while CyberCube carried out the independent audit, according to the lender.
The certification comes as banks face rising pressure to strengthen the security of digital payment channels and protect customer information. Nigeria’s rapid shift toward electronic payments has expanded the amount of sensitive financial data moving through banking platforms, card networks, ATMs and POS terminals.
PCI DSS is an industry security standard developed to establish controls for organisations that store, process or transmit payment-card information. Certification involves assessing whether an organisation has implemented the required security controls within the relevant payment environment.
For Union Bank, the latest certification provides an external assessment of its payment-security framework at a time when cyber risk has become an increasingly important operational and reputational issue for financial institutions.
Yetunde B. Oni, managing director and chief executive officer of Union Bank, said protecting customer information remained central to the bank’s operations.
“The security of our customers’ information is central to everything we do at Union Bank,” Oni said. She added that the certification reinforces confidence in the bank’s payment systems and processes.
The certification does not eliminate the possibility of cyber incidents, but maintaining the underlying controls can help organisations manage payment-data risks and demonstrate adherence to recognised security requirements.
For Nigeria’s banking industry, the development also highlights the growing importance of cybersecurity investment as lenders expand digital services and customers increasingly rely on electronic channels for everyday payments.
Union Bank’s latest certification therefore represents not only a compliance milestone but also part of the broader effort by financial institutions to strengthen trust in Nigeria’s rapidly digitising payments ecosystem.
