The Vice-Chancellor of the University of Delta, (UNIDEL), Agbor, Prof. Stella Chiemeke, a leading scholar in computer science, has highlighted the alarming impact of cybercrime on Nigeria, estimating the country’s annual losses at a staggering $500 billion.
Prof. Chiemeke made this assertion while delivering a paper titled “Cybersecurity and Business Survival in Nigeria: Building Customers’ Trust” at the 7th Southern Zonal Accountants’ Conference held in Warri.
During her presentation, she detailed the various forms of cyberattacks, including phishing, ransomware, and business email compromise, which pose significant threats to individuals, businesses, and organizations across Nigeria. The financial toll of these attacks has been severe, with many entities suffering substantial losses.
Prof. Chiemeke further revealed that only 30 per cent of organizations in Nigeria have implemented cybersecurity awareness programs. She strongly urged organizations nationwide to establish robust cybersecurity measures to combat the growing menace of cybercrime.
According to her, enhancing cybersecurity will not only protect businesses from ongoing financial losses but also help build and sustain customer trust.
