FG lost over N127b to cyber crimes says Shittu
The Minister of Communications Mr. Adebayo Shittu has said the Federal Government had lost over N127billion to cyber crimes between 2016 and 2017.
Shittue disclosed this to newsmen over the weekend at the 2017 Nigeria ICT Impact CEO Forum & Awards organized by the ICT Watch Network at the Oriental Hotel, Lekki, Lagos.
He noted that the 2016 recession alone brought about numerous attacks targeted at businesses, organizations and individuals.
Shittu said: “The Federal Government has estimated an annual lost of over N127billion to cyber crime activities even within our own borders. Nigeria has had it fair share of cyber crimes between 2016 and 2017 alone. The recession in 2016 brought about numerous attacks targeted at organizations and individuals.”
“The most recent targets were on unsuspected patronizes of ponzi schemes. In a way of austerity many people lost money to the said schemes and others fell victims to malicious and compromising websites. I believe this must not be allowed to continue.”
Commenting on the benefits of the broadband internet access, the Minister of Communications said that the mobile broadband privilege has increase the access to social media platforms.
Shittu said that with the broadband internet access in place, it has further boost transactions and growth in the e-commerce sector as well as the advertising industry.
According to him, the mobile broadband privilege has increase the access to social media platforms and transforms its usage for beneficial services such as advertising and e-commerce activities.
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