The President of the Senate, Dr Bukola Saraki, says Nigeria has lost about N127 billion to cybercrime. He made this known at Nigeria’s first Legislative Stakeholders Conference on ICT and Cyber security on Monday in Abuja.
Saraki, who was represented by Senate Minority Whip Sen. Philip Aduda Saraki did not, however, specify the 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 cyber crime 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 cyber borders are very porous, indeed,” Saraki said.
He said efforts to revive the economy must necessarily include counter-measures to minimise the losses and shore up the country’s cyber security architecture to better repel attacks.
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Nigeria loses N127bn to cyber crime, says Saraki
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