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The Economic and Financial Crimes Commission (EFCC) has revealed that Nigeria lost over $500 million to cybercrime in 2022. EFCC Chairman Ola Olukoyede made this announcement at a National Cybercrime Summit in Abuja, warning that global losses could reach $10.5 trillion.
He noted that cybercrime has become a major contributor to the agency’s convictions, with 3,455 cases recorded in the past year.
To combat this, Olukoyede emphasized the need to redirect the talents of young people towards legitimate tech opportunities, urging a collective fight against cybercrime beyond just the EFCC’s efforts.
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