There are palpable fears that Nigeria may lose higher than the average amount it has been losing annually to cyber fraud if right policies and security architecture are not put in place now.
The representative of the Department for International Development (DfID) in Nigeria, Professor Olu Ogunsakin who dropped the hint, disclosed that Nigeria losses over N127 billion to internet fraud, warning that the figures will go high if nothing is done to check it.
He made the revelation at the launching of the cybercrime forensic investigation by the Inspector General of Police in Abuja on Monday.
According to him, Internet fraud is not peculiar to Nigeria or any other country but has become a global problem and called for the need for international collaboration in tackling this problem.
He said launching of the cybercrime and forensic investigation by the Nigeria police is aimed at tackling these various challenges faced by Internet fraudster.
Earlier in his remarks, IGP Idris, represented by the Assistant Inspector of Police, Intelligence, AIG Umaru Shehu said criminals are looking for ways to take advantage of loopholes in the new cyber technology, thereby making it difficult to tackle cyber crimes.
He assured that the Force is building on the exiting forensic and cybercrime facilities in order to successfully tackle the menace of complex crime of internet fraud, which respects no boundary.
