Cybercrime: Nigeria lost #5.5trn in 10 years

The Chief Strategy Officer, Deloitte West Africa, Mr. Top Aladenusi has stated that Nigeria has lost #5.5 trillion to fraud and Cybercrimes in 10 years.

Aladenusi, who made the disclosure at a recent webinar hosted by First bank of Nigeria Limited with theme: “Staying Protected Amidst the Pandemic Chaos.” noted that the losses from Cybercrimes seemed to be more than drug trafficking.

He noted that as of December 2020, global losses from Cybercrimes was over $1trillion.

Aladenusi, who is also the Cyber Risk Services Leader, attributed the rise in Cyber frauds to insufficient skilled resources, deficiency in awareness, rapidly changing technology landscape and weakness in Cyber security control.