The Director General of theNational Information Technology Development Agency (NITDA), has revealed that Nigeria loses about N3.133 trillion to cybercrime and foreign software annually.
Vanguard reports that Pantami gave the figure at a stakeholders engagement on Nigerian Software Testing Guidance, NSTG, and the Guidelines for Information Systems Audit, GITA, in Abuja.
According to the report, N127 billion is lost to cybercrime annually due to the nation’s inability to adequately secure information systems, advising that to guarantee safe delivery of services, it has become imperative to secure Nigeria’s information system.
“There is an urgent need to continually protect the country’s information system from being compromised. Today, most business processes are carried out electronically, and large amounts of information are stored, processed, and transmitted over IT networks, which means businesses, administrations and citizens depend on proper operations of the information technology used,” he said.