Senate president Bukola Saraki says Nigeria loses an estimated one hundred and twenty seven billion naira, to cybercrime annually.
Saraki who was represented by deputy minority whip, senator Philip Aduda at the beginning of a three-day cybercrime act review conference said efforts to revive Nigeria’s economy must necessarily include counter-measures to minimize losses, and shore up cyber-security.
Chairman of the committee on ICT and cyber-crime senator Abdulfatai Buhari, said that the current law on cybercrime in Nigeria needs to be reviewed to meet international standards.
Chief of Defence Staff, Major-General Abayomi Olonishakin, represented by major-General Ademo Salihu, director, defence communication spoke on the need for effective enforcement of cybercrime laws.
Former president Goodluck Jonathan had in may, 2015 signed into law a bill for an act to provide for prohibition and punishment for electronic fraud in Nigeria.
