The Nigerian Communications Commission says Nigeria is currently ranked third globally in cyber crimes behind the United Kingdom and the United States.
Umar Danbatta, Chief Executive Officer of the commission, made this known on Tuesday at the 2017 Annual General Conference of the Nigerian Bar Association in Lagos.
Danbatta, at a breakout session with the sub-theme: ”The Business of Cyber Law, Internet Policy and Privacy Rights”, said the number of internet users in Nigeria has hit 91.6 million.
According to him, over N127 billion was the estimated loss to cybercrime in Nigeria in 2015; adding that the critical factor militating against Africa’s economic resurgence is the ”weakness of its institutions”.
He said: ”Nigeria ranks 169 out of 199 on the World Bank’s ease of doing business rankings; we are in a middle of a revolution and the rise of what we call the networked society.
”The NCC stipulates the laws of engagement that will make the cyberspace safe and ensure the confidence as well as the safety of the cyberspace.
”There are benefits and risks of the use of cyberspace and both have to be properly managed.”