Cybercrime growing at alarming rate – Minister
The Minister of communication and digital economy, Isa Pantami, has said cybercrime was growing at an alarming rate, globally.
He stated this at the annual cybersecurity conference held in Abuja, organised by Nigeria Communication Commission, NCC.
The conference was aimed at strengthening the security of the nation’s communication infrastructure across the country.
The event provide a platform for discussion on developing a joint response in tackling internet crimes.
According to the minister, in 2018, the cybercrime industry generated about $1.5 trillion while social media-related crimes generated a minimum of $3.25 billion. Bitcoin crimes generated $76 billion all within 2018.
In his words, “many people develop the expertise and embark on compromising systems, exploiting any opportunity they get and they are making money.
“Cybercrime is growing at the speed of light, in view of this, as part of our agenda of promoting security, we are giving priority to cyber security.”
Pantami said the digital economy of the government cannot be implemented without safeguarding the cyberspace.
He added that countries that have the highest threat of cybercrimes, and involvement in the digital economy is becoming slower by the day.
According to him, “we must join hands to ensure that our cyberspace is secured relatively because globally there is no system that is 100 per cent secured.”
The executive vice-chairman, NCC, Umar Danbatta, said the telecommunications regulator will establish more strategies to combat cybercrime in Nigeria.
He said as part of efforts to fight cybercrime, NCC have began creating awareness among children and youth on the negative effects of the crime.