Nigeria spending N127bn annually to cybercrime — Minister of Communication, Mr Adebayo Shittu

July 20, 2016 6:10 am

ABUJA—THE , , has disclosed that loses about N127 billion annually to cybercrime.

Shittu, who stated this yesterday at the ongoing national conference of the Nigerian Computer Society, NCS, with the theme, Information Technology for national safety and security, told the gathering that the above figure represented 0.08 per cent of the country’s Gross Domestic Products, GDP.
While urging the use of Information and Communication Technology
ICT,  tools and Geographical Information System, GIS, to tackle Boko
Haram, Niger Delta militancy and other security challenges with enhanced
efficiency and professionalism, the minister expressed concern that
Nigeria’s growing dependency on digital infrastructure posed grave
threats to national security.
Shittu, who warned that the trend had to be reversed immediately for
national safety, said: “Many Nigerians now have access to internet
facilities. Our citizens now use the enormous 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.
“Evidence, however, abounds on growing electronic fraud and threats
to digital databases both in private and public sector. Without safety
and security, growth is impossible. Information Technology for National
Safety and Security as the conference theme, is highly relevant as it
aligns with the national safety and security priority of the
administration of President Muhammadu Buhari.
“Securing lives and properties is both an enabler and an imperative
for growth and development. Threats emanate from local and global
terrorism which strikes fear and shatters the much needed national peace
and security.
“Nobody, no organization can perform optimally under a cloud of fear.
Uncertainties and raised anxieties strain our economy and society. We
must, however, acknowledge successes recorded so far in the fight to
keep Nigeria secure.”

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