Nigeria loses N5 billion annually on cybercrime

The Vice Chancellor of University of Delta, Agbor, Prof. Stella Chiemeke has said that Nigeria is among the countries most affected by cybercrime with an estimated annual losses of five hundred billion dollars.

Prof Chiemeke made the assertion while delivering a paper titled, Cyber security and business survival in Nigeria: Building Customers’ Trust, at this Year’s 7th Southern zonal Accountants’ Conference, in Warri.

According to her, the attacks could take many forms, including phishing, ransomware, business email compromise and a lot more.

She said it has posed a significant threat to individuals, businesses, organisations resulting in huge financial losses .

While saying that only thirty percent of organizations in Nigeria have Cyber security awareness, Prof. Chiemeke called on organizations across the country to put in place robust cyber security measures to check the ugly trend.

“This will help to build customers’ trust and keep such organizations free from continuous financial losses,” she added