The Economic and Financial Crimes Commission (EFCC) says Nigeria lost more than 500 million dollars to cybercrime in 2022, warning that if unchecked, the current cybercrime wave portended a grave danger.
EFCC Chairman, Ola Olukoyede, made this known on Tuesday in Abuja at the 2024 National Cybersecurity Summit with the theme: “Alternatives to Cybercrimes; Optimizing Cyber Skills for National Development.”
The event was organised by EFCC with the support of the EU-funded Rule of Law and Anti-Corruption (RoLAC-Phase II) Programme of the International Institute of Democracy and Electoral Assistance (International IDEA).
“Projections by multiple sources show that the global loss to cybercrimes may reach a staggering 10.5 trillion dollars.
“As a matter of fact, the research I did earlier this year confirmed that cybercrime has become the third largest GDP in the world with approximately 2,328 cases occurring daily.
“The implication of all this is that if left unchecked, cybercrimes portend grave dangers to the entire world.
“Bringing it to Nigeria, in 2022 alone, Nigeria lost over 500 million dollars to cybercrime,” he said.
Olukoyede said cybercrime accounted for a significant percentage of the convictions recorded by the agency since his one year in office as the chairman of the EFCC.
“These are the realities stalking the commission’s fight against these crimes.
“Cybercrime accounts for a significant percentage of the 3,455 convictions recorded by EFCC in my one year as the Executive Chairman of EFCC,” he said.
