Disturbed by the N250 billion loss to cybercrime in 2017, the Senate
yesterday urged the Federal Government to improve budgetary provisions
for digital technology and cyber-dependence safety.
The upper legislative chamber therefore mandated its Committee on ICT
and Cybercrime to engage stakeholders on the menace and chart path for
the future of the country.
It also directed the Committee on ICT and Cybercrime to strategically
relate with the ministries, departments and agencies (MDAs) to
ascertain their ICT shortfalls, cyber security constraints, data
management challenges and possible remediation measures.
The resolutions followed a motion on the “Growth of digital
technology and the challenge of cybercrime: The urgent need to safeguard
the future of Nigeria” sponsored by Yakubu Oceini (Kogi Central).He had
noted that Nigeria lost $649 million (over N250 billion) to cybercrime
activities in 2017 alone, adding: “The 2018 Nigeria Deposit Insurance
Cooperation (NDIC) report indicates that there were 37,817 reported
fraud cases within the year, out of which 59.2 per cent were internet
and technology-based, costing businesses in Nigeria several billions of
naira.”
Oceini went on: “It is also indicated that over 81 per cent of cyber
security incidents in the country are either unreported or unresolved,
leaving room for the proliferation and escalation of illicit cyber
activities.
“In fact, the recent apprehension of 77 cyber criminals by the FBI, several of whom are Nigerians, leaves much to worry about.”
The lawmaker, however, acknowledged that the growth of digital
technology, also referred to as ICT revolution, had brought about
improved performance in all aspects of the society.He feared that the
merits of digital technology were being eroded by the growing
cyber-security threats manifest in the increased attacks on persons and
enterprises.
The senator added: “Reports indicate that there is currently a
dramatic rise in cybercrime such as the ransomeware epidemic, the
refocusing of malware from personal computers (PCs) and laptops to
smartphones and mobile devices.Others, he said, include the deployment
of billions of underprotected Internet of Things (ioT) devices, the
legion of hackers-for-hire and more sophisticated launching of attacks
on governments, businesses, educational establishments and defence
infrastructure.
He expressed worry that the nefarious activities had cost the world
trillions of dollars in recent times.Besides, the House of
Representatives has deliberated on a bill geared at ensuring that at
least 40 per cent of the nation’s yearly budget is earmarked for capital
projects in the next 10 years.
Sponsored by Speaker Femi Gbajabiamila, the piece of legislation,
which scaled second reading yesterday, was referred to the committees on
Appropriation and Finance for further legislative scrutiny.
The five-section bill seeks to create some forms of monitoring
process to ensure implementation and enforcement by providing that upon
commencement, the Accountant General of the Federation “shall submit
quarterly reports to the National Assembly on the performance of the
capital budget (s) and must be submitted within two weeks after the end
of a corresponding quarter.”The Minority leader, Ndudi Elumelu, who led
debate on the document titled “Economy Stimulus Bill”, maintained that
there was need for stringent punitive measures against defaulters in the
face of the infrastructure deficit in the country.
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