Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has announced plans to train 500 young Nigerians in cybersecurity and various aspects of cybercrime research, aiming to equip them with skills to build productive careers.
He expressed concern over the alarming surge in cybercrime across the globe.
Speaking at a national cybercrime summit on Tuesday, which was organized in collaboration with the European Union-funded Rule of Law and Anti-Corruption Programme of the International IDEA, Olukoyede emphasized the urgent need for innovative approaches to tackle the global menace.
Olukoyede revealed startling figures, suggesting that global losses to cybercrime could reach a staggering $10.5 trillion in the near future.
His research found that an estimated 2,328 cybercrime incidents occur daily worldwide, solidifying its status as a significant global threat.
Bringing the issue home to Nigeria, he highlighted that the country lost over $500 million to cybercrimes in 2022 alone.
Olukoyede mentioned that the EFCC recorded a total of 3,455 convictions in his one-year tenure, with cybercrime suspects contributing a large portion of that number.
He also noted the recovery of various choice assets, which were returned to victims both within Nigeria and internationally.
While acknowledging some skepticism surrounding the agency’s work, Olukoyede underscored the importance of tackling the problem at its roots.
As part of efforts to address the challenge, Olukoyede announced the establishment of a Cybercrime Research Centre in collaboration with a Nigerian fintech company.
“We are putting up a Cybercrime Research Centre… It’s a centre that will take a minimum of 500 young Nigerians at a time and train them in cybersecurity and all areas of cybercrime research so that we’ll be able to make something out of them,” he said.
He urged state governors to embrace such initiatives as part of broader efforts to curb cybercrime.
In line with these strategies, the EFCC has also set up a Rapid Response Desk dedicated to addressing complaints on cybercrimes, signaling a shift toward more efficient handling of such cases.
Also speaking at the summit, the Minister of State for Youths, Ayodele Olawande, echoed the call for more innovative approaches to dealing with cybercrime, beyond arrests and convictions.
He encouraged young Nigerians to refrain from engaging in cybercrime, pointing out that poverty should not serve as an excuse for criminal behavior.
“It’s not about the bombardment of houses, doing all this stuff and all that. It’s bringing up initiatives, ideas that will encourage a lot of young people,” Olawande remarked.
Kwara State Governor and Chairman of the Nigeria Governors’ Forum, AbdulRazaq AbdulRahman, pledged the governors’ collective support for the EFCC’s efforts in fighting cybercrime.
He commended the ongoing work of the EFCC and other agencies, including the National Orientation Agency, in reshaping the mindset of Nigerian youths about crime, drug abuse, and patriotism.
“This effort should be taken to another level so that we may have a national consensus. You have our support in this regard,” the governor assured.
Meanwhile, Zamfara State Governor, Dauda Lawal, took a bold stance at the event, declaring his lack of fear towards the EFCC.
Lawal stressed that elected officials must be transparent and accountable to the people, reinforcing that leadership should be about service.
“I am not scared of EFCC. Why would I be scared of EFCC? We’re here to serve, and this is the way forward,” he stated, adding his support to the commission’s fight against cybercrime.
Lawal also clarified that he was unaware of any lawsuit by his fellow governors against the EFCC.
“I’m hearing this for the first time about the suit, and that’s the truth. So I don’t know what it contains. I can’t comment on that,” he said, reaffirming his backing of the EFCC’s mission to restore Nigeria’s image in the global arena.
The Head of International IDEA, Danladi Plang, highlighted the rapid growth of technology and its dual impact on Nigerian society, particularly among its tech-savvy youth.
“Nigeria has a very youthful population, which is versatile in the use of technology,” Plang said.
However, he warned that this expertise has often been misused for cyber-related crimes, tarnishing the country’s international reputation and threatening its financial system.
Plang concluded by suggesting that Nigeria may need to rethink its traditional approach to combatting cybercrime.
He advocated for strategies that harness the technological skills of the nation’s youth for positive endeavors, thereby creating legitimate opportunities while strengthening the country’s defenses against cybercrime.
