Nigeria loses N127bn to cybercrime annually – Shittu
The Minister of Communications, Barr. Adebayo Shittu has said that Nigeria loses an estimated N127 billion, which represents 0.08 percent of the country’s Gross Domestic Products (GDP) annually, to cybercrime.
He made this disclosure in an address to the 26th national conference of the Nigeria Computer Society (NCS) which opened Tuesday on the theme: Information Technology for National Safety and Security at the NAF Conference Centre, Abuja.
Shittu also said that the concern of the ministry is that national safety and security encompasses securing the nation’s cyber space, noting that growing dependence on digital infrastructure introduces and poses grave threats to national security.
He explained that more Nigerians now have access to the Internet; hence citizens nowadays use the huge opportunities this digital infrastructure brings to work, transact business, campaign, communicate, learn, interact and relax.
“Today, banking, commercial and other critical services are being provided online,” he said.
He stressed that evidence however, abounds of growing electronic fraud and threats to digital databases of both the private sector and government.
He affirmed that in view of the critical nature of the economy and government activities, it is obvious that protection from different types of cyber and terrorist attacks is required.
“Software piracy, identity theft, electronic fraud, online spam, intellectual property theft and malware attacks can all lead to devastating and far reaching consequences,” he pointed out.
Shittu said that the activities of hackers and cyber bandits are known to aid radicalisation and violent extremism, especially among the youth, stressing that in order to address emerging cyber threats the Federal Government has set up computer emergency response teams through the Office of the National Security Adviser (NSA) and National Information Technology Development Agency (NITDA).
And to further improve the nation’s cyberspace, Shittu disclosed that Federal Government recently inaugurated the Cybercrime Advisory Council, underlining that the council is expected to facilitate the implementation of the Cybercrime Act, 2015, as well as the National Cybersecurity Policy and Strategy.
Earlier in his welcome address, Prof. Adesola Aderounmu, NCS president, said that the protection of life and property is the major function and responsibility of any government, stressing that globally, no nation is excluded from the challenges of insecurity.
Prof. Aderounmu also said that a more proactive Information Technology (IT)-led approach to combating this menace is needed in a country like Nigeria.
