Tag: Nigeria loses N127 billion to cybercrime

Nigeria loses N127 billion to cybercrime

Nigeria loses N127 billion to cybercrime

Cyber Security
Dr Bukola Saraki, President of the Senate, on Monday 6 November 2017 revealed that Nigeria has lost about N127 billion to cybercrime. He made the revelation at Nigeria’s first Legislative Stakeholders Conference on ICT and Cyber security in Abuja. Saraki, who was represented by Philip Aduda Saraki, Senate Minority Whip did not, however, highlight the exact period within which the nation lost such an amount to cyber crime. He said the loss was indicative of the hole created in the economy by cybercrime amounting to 0.08 per cent of the Gross Domestic product (GDP). “It is indeed ironic that while internet penetration in Nigeria is tentative at best, hovering at just over the 90 million people mark, a percentage of 47.7 per cent, internet-facilitated crime seems to be growing. Our cyb