Nigeria loses N7.5bn to cyber fraud yearly



Nigeria has been pitched among countries that lose yearly to cyber fraud. The country is said to have  lost well over N 7.5billion  in 2012 owing to cyber crime, while the global loss is estimated at $1trillion (about N155 trillion) for 2012. According to the research by the International Telecommunications Union (ITU), the rising profile of cyber crime is causing great havoc globally. The report also maintained that out of the $1 trillion loss, only $390 billion was reported for obvious reasons.

Following this disclosure, Nigeria’s First Lady, Mrs. Patience Jonathan,  will lead about 700 leaders including Mr. Ehud Barak, a former Prime Minister of Israel, Dr. Salma Abbasi, founder/CEO eWorldWide, USA, a high level team both from the International Telecommunications Union (ITU) and the Central Bank of Nigeria (CBN)  to the third World Cyber security Conference next week in Abuja.

Among the 700 select leaders include top government functionaries, state governors and National Assembly members. Also expected are CEOs of Corporate Nigeria, Military and Intelligence chiefs and the diplomatic community, among others. The cybersecurity conference will map out new strategies to secure government and business assets, personal security including Child Online Protection and online e-commerce transaction on the cyberspace.
With the theme: ‘Cyber Insecurity- A latent threat to national security and economic development’.

Dame Jonathan, who is also the ITU-IMPACT champion on child online protection (COP), would host the global forum as part of her yearly programme for Nigeria and the entire World with regards to Child Online Protection and  cyber security. She has been working actively with stakeholders to ensure minors are protected on the internet especially from online predators and the cashless economy on CBN policy is strengthened.
Ehud Barak, Israel’s most decorated soldier will speak on Cyber, Physical Terrorism and Economic Development: My Experience as Israeli Prime Minister. Mr Brahima Sanou, ITU Director, Telecommunication Development Bureau, ITU will speak on The Role of Telecommunication and ICT in National Security and  Development. While renowned Technologist and global authority on sustainable development and cyber security, Salma Abbasi, Ph. D will speak  on: Living in the Digital Society: challenges, threats and solutions for the child.



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  1. Ndi Igbo, ekele diri unu niile
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