The Economic and Financial Crimes Commission (EFCC) has sounded the alarm over the growing threat of cybercrime, revealing that Nigeria lost more than $500 million to cybercriminal activities in 2022.
Speaking during the National Cybercrime Summit in Abuja on Tuesday, EFCC Chairman Ola Olukoyede highlighted the global and local dangers posed by cybercrime, stressing the urgent need for concerted efforts to curb the menace.
“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,” Olukoyede said.
The EFCC chairman warned that if left unchecked, cybercrime could have devastating consequences for economies worldwide, including Nigeria.
“Bringing it to Nigeria, in 2022 alone, Nigeria lost over $500 million to cybercrime,” he added.
Olukoyede noted that cybercrime constitutes a significant percentage of the convictions secured by the EFCC since he took office a year ago. However, he also revealed the agency’s plans to rechannel the energies of young people, who are often the primary perpetrators of these crimes, toward more productive activities.
