Nigeria’s ComTech Minister, Barr Adebayo Shittu, has said Nigeria loses N127 billion annually to cyber thieves, warning that if it is not addressed, it could pose a great deal of threat to the country’s national economy.
“It is quite shocking that Nigeria loses about N127 billion, which is 0.08 per cent of the country’s Gross Domestic Products (GDP), yearly to cybercrimes,” he told participants at an IT forum organised in Abuja, Nigeria’s political capital.
He said in public finance, the electronic platforms used by the Nigerian government such as the Treasury Single Account (TSA), the Government Integrated Financial Management Information System (GIFMIS) and the Integrated Payroll and Personnel Information System (IPPIS), have resulted in “significant savings and elimination of waste in governance”.
On terrorism, Shittu added that: “Using ICT and Geographical Information System (GIS) to tackle Boko Haram, Niger Delta militancy and other security challenges with enhanced efficiency and professionalism has become a matter of paramount importance.”
Source: Biztech Africa
