Expert advocates for digital reforms, collaboration to curb cybercrimes in Nigeria

The alarming rise of cyber financial crimes in Nigeria casts a long shadow over the nation’s digital economy, hampering its global reputation and undermining trust in its digital infrastructure.

Despite significant technological advancements, cyber fraud—popularly known as “Yahoo Yahoo”—continues to evolve, morphing into sophisticated schemes that exploit vulnerabilities across businesses, individuals, and institutions.

A report by the Economic and Financial Crimes Commission (EFCC) in 2022 revealed that Nigeria lost over $500 million to cybercrime.

These crimes range from phishing and identity theft to cryptocurrency scams and ATM card fraud.

While the Cybercrimes Act of 2015 provides a legal framework to address these issues, enforcement remains inconsistent due to limited resources and outdated systems.

In an exclusive interview, a rising star in the field of cybercrime prosecution with the EFCC, Amarachi Ndubuisi, provided insights into the challenges of combating cybercrime and the reforms needed to protect Nigeria’s digital economy.

“Cybercrime is no longer an isolated issue; it’s an industry.

“These crimes are often carried out by organised networks that are difficult to track, and their impact is felt on both local and international levels,” Amarachi said.

She emphasised the vulnerability of Nigeria’s digital infrastructure, noting that many financial institutions lack robust cybersecurity measures.

“The absence of adequate security systems, combined with low digital literacy among individuals, creates a perfect storm for cybercriminals,” she said.

Amarachi described the complexities of prosecuting cybercriminals, citing difficulties in evidence collection and the knowledge gap among law enforcement officials.

“Cybercriminals are highly tech-savvy and know how to erase their tracks. This makes gathering evidence a major challenge,” she noted.

She also called for reforms to the judicial process, highlighting that many of Nigeria’s laws are outdated. “The legal system needs to evolve with the crimes. We need laws that address emerging forms of cyber fraud, such as cryptocurrency scams,” she said.

To curb cyber financial crimes, Amarachi stressed the need for collaboration between stakeholders.

“Financial institutions, tech companies, and government agencies must work together to create a safer digital environment,” she advised. She also underscored the importance of public awareness, stating, “Basic digital literacy can go a long way in preventing fraud.”

Looking ahead, Amarachi is committed to advancing her expertise. She plans to pursue an LLM in cybersecurity law and policy in the United States, home to some of the world’s leading cybersecurity programs.

“I want to see a world where tech talents are celebrated for innovation, not fraud. That’s what drives me to chart a career path in cybersecurity,” she said.

As Nigeria grapples with the challenges posed by cybercrime, individuals like Amarachi Ndubuisi serve as a beacon of hope, demonstrating that with determination, collaboration, and the right policies, the tide can be turned.

 

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