The Nigerian Senate has disclosed that the country lost about $450 million to cyber criminals in over 3000 cyber attacks on its Information and Communication Technology (ICT) Infrastructure and Stored Data in the country.
The development followed the gradual data digitization and processes automation in Nigeria enabled by ICT. The Senate Committee on ICT and Cybercrime, therefore, directed the National Security Adviser (NSA), Major-General Mohammed Babagana Monguno (rtd), to take necessary steps to alert all security agencies and financial institutions to contain the negative impact of cyber attacks.
The Senate also expressed concern over the growing global cyber attacks and the possibility of Nigeria becoming a target if steps toward preventing this are not emplaced. This necessitated the call to immediately convene stakeholders conference on cybersecurity aimed at stimulating consciousness and readiness to combat emerging threats and trends.
The report by the Senate Committee on ICT and Cybercrime, in its oversight findings, revealed that the Nigerian cyberspace was porous and equally poorly structured, hence exposing the Country's ICT infrastructure to risk of attacks.