Nigeria: Rising Wave of e-Frauds Puts Economy At Risk

13 June 2018

There is a growing concern over the rising trend of electronic fraud across key sectors of the Nigerian economy. The menace which follows wide acceptance of new methods of mobile money and electronic banking and payment systems has been discovered to cost the country a whopping N197.9 billion annually.

The troubling development finds a fertile ground in more than 90 per cent Nigerian organisations found to be operating below the poverty line, which significantly exposes them to cyber security risks.

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