Nigeria Lost Over $500m to Cybercrime in 2022 – EFCC Chairman

Chairman of the Economic and Financial Crimes Commission, (EFCC) Ola Olukoyede said during a National Cybercrime Summit in Abuja on Tuesday that Nigeria lost $500 million to the criminal activity in 2022.

The Chairman of the anti-graft agency, said “As a matter of fact, the research I did earlier this year confirmed that cybercrime has become the third largest GDP in the world with approximately 2,328 cases occurring daily.

“The implication of all this is that if left unchecked, cybercrimes portend grave dangers to the entire world.

“Bringing it to Nigeria, in 2022 alone, Nigeria lost over $500 million to cybercrime.”

The chairman of the EFCC also revealed that cybercrime constitutes a significant percentage of the convictions recorded by the agency since he took office a year ago.

However, Olukoyede announced that the agency has made plans to rechannel the energies of young people who are mostly perpetrators of cybercrime.