By HeapNews
The Economic and Financial Crimes Commission (EFCC) has raised alarm over the increasing wave of cybercrime in Nigeria, disclosing that the country suffered losses of over $500 million due to cyberattacks in 2022 alone.
Speaking at the National Cybercrime Summit, EFCC Chairman Ola Olukoyede highlighted the growing complexity and global impact of cybercriminal activities. He noted that cybercrime is now ranked as the third-largest “GDP” worldwide, with a staggering 2,328 cases reported daily.
“The implications of this alarming trend are far-reaching. If left unchecked, cybercrime poses a grave threat to the entire world. In Nigeria, the financial toll has been substantial, with over $500 million lost in just one year,” Olukoyede said.
He emphasized that cybercrime remains a significant focus for the EFCC, accounting for a large portion of the convictions secured by the agency in recent years. However, he acknowledged the challenges posed by the ever-evolving tactics used by cybercriminals, especially the involvement of tech-savvy young people.
To curb this trend, the EFCC is advocating for alternative career paths for young Nigerians with advanced technical skills, encouraging them to contribute positively to sectors like the tech ecosystem, financial services, and law enforcement.
“The fight against cybercrime is a collective effort. The EFCC cannot combat this threat alone. We need the support of all stakeholders, including government agencies, private organizations, and individuals, to raise awareness, strengthen cybersecurity measures, and foster a digital environment that is safe and secure for all,” Olukoyede urged.