3,500 cyber attacks within the last one year were experienced in Nigeria said Dr. Vincent Olatunji. Olatunji who is the acting Director General of the National Information Technology Development Agency, NITDA said that the cyber attacks had over 70 per cent success rate and led to losses of about $450 million.  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.
Olatunji said that measures need to be put in place to mitigate these crimes as  there is an increased penetration of technology into the economy. He stated that Nigeria, like any other country, was facing many challenges from network design, security prevention as well as cyber-attack to cybercrimes. He said that the need for effective security measures to create trust and confidence in the various platforms could not be over-emphasised. 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.

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