Nigeria Lost N127 Billion to Cybercrime, E-Fraud-ONSA

Nigeria loses over N127 billion to cybercrime, according to the Office of the National Security Adviser.

The National Security Adviser Major-General Babagana Munguno says that the loss is about 0.08 per cent of the nation’s GDP.

According to him, a recent report reveals that between 2013 and 2014, fraud on e-payment platforms nationwide increased by over 183 per cent

This he says demonstrates that activities of hackers and cyber criminals are a threat to both the economy and security of Nigerians.