March 31, 2016

Nigeria records 3,500 cyber attacks in last one year

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Cyber crime

ABUJA— Nigeria has experienced 3,500 cyber attacks within the last one year, with over 70 per cent success rate and a loss of $450 million, Acting Director General of the National Information Technology Development Agency, NITDA, Dr. Vincent Olatunji, has said.

Cyber crime

Cyber crime

Olatunji said this during a capability and capacity building training workshop organized by NITDA in partnership with its Malaysian counterpart, Malaysia Cyber Security Agency, in Abuja, yesterday.

Similarly, an IT consultant, Abdul-Hakeem Ajibola, said 0.80 per cent of Nigeria’s Gross Domestic Product, GDP, equivalent to the cement sector, was lost to cybercrime.

According to th NITD boss, the country’s GDP lost $568.51 billion in 2014, which amounts to annual loss of $450 million, an equivalent of N89.55 billion annual direct loss to the Nigerian economy, at the Central Bank of Nigeria, CBN, exchange rate of N199 to $1.

With the increasing penetration of technology into the economy and continuous loss to cybercriminals, he advised that measures must be put in place to mitigate the capacity of cybercriminals from taking advantage of the environment.

The NITDA boss, who lamented the outrageous rate of attacks in Nigeria, said the Federal Government had a lot of work to do to checkmate further attacks of public and private facilities.

He said: “We are preparing people to prepare against cybercrime, private and public sectors, within the last one year. So, there is a lot of work to do.

“The high rate of attacks in Nigeria shows that we need to work harder to ward off these attackers to ensure that we prevent such attacks and even where they take place, we ensure they are countered.”

He stated that Nigeria, like any other country, was facing many challenges from network design, security prevention as well as cyber-attack to cybercrimes, saying the need for effective security measures to create trust and confidence in the various platforms could not be over-emphasised.

Olatunji further explained that the workshop was in fulfilment of NITDA’s mandate, particularly in the area of fostering the development and growth of information technology for sustainable socio-economic development in Nigeria.

He said the commitment of the Federal Government to effective ICT development in various sectors of the economy had led to the creation of requisite enabling environment for stakeholders to contribute to the level of ICT development in the country.