Nigeria Loses 500 Million Dollars To Cybercrime Annually - Prof. Chiemeke.

The Vice Chancellor of the University of Delta, Agbor, Prof. Stella Chiemeke, has stated that Nigeria is among the countries most severely affected by cybercrime, with estimated annual losses reaching $500 million. She made this observation during her presentation titled "Cyber Security and Business Survival in Nigeria: Building Customers' Trust" at the 7th Southern Zonal Accountants' Conference in Warri.

Professor Chiemeke pointed out that cyberattacks in Nigeria can take various forms, including phishing, ransomware, and business email compromise, all of which pose significant threats to individuals, businesses, and organizations, leading to substantial financial losses.

She further noted that only 30% of organizations in Nigeria have implemented cybersecurity awareness measures. Professor Chiemeke urged organizations across the country to establish robust cybersecurity practices to combat this growing issue, emphasizing that doing so would help build customer trust and protect against ongoing financial losses.