By Isaac Aregbesola

The Economic and Financial Crimes Commission (EFCC) has urged the Nigerian youth to channel their cyber skills towards national development, rather than engaging in cybercrime.

The EFCC Chairman, Mr Ola Olukoyede, who made this call at the National Summit on Cybercrime held in Abuja, emphasised the need for collective action against internet fraud.

The conference with the theme “Alternatives to Cybercrimes:  Optimising Cyber Skills for National Development” is to raise awareness on the dangers of cybercrime and promote alternative uses of cyber skills.

It was organised by EFCC with the support of the EU-funded Rule of Law and Anti-Corruption (RoLAC-Phase II), Programme of the International Institute of Democracy and Electoral Assistance (International IDEA).

Olukoyede raised concerns about the growing menace of cybercrime in the country, warning that “it poses a significant threat to the nation’s reputation, economic well-being, and the future of its youths.

“Cybercrime is corrupting our family values and promoting a get-rich-quick mentality among our youths. We must rescue our young generation from the stranglehold of cybercrime.”

According to him, projections by multiple sources show that the global loss to cybercrimes may reach a staggering 10.5 trillion dollars by 2025, with approximately 2,328 cases occurring daily.

“The implication of all these is that, if left unchecked, cybercrimes portend grave dangers to the entire world.

“These are the realities stoking the commission’s fight against these crimes. Cybercrime accounts for a significant percentage of the 3,455 convictions recorded by the EFCC in my one year as Executive Chairman.

“A significant portfolio of choice assets have also been recovered and returned to both local and foreign victims of cybercrimes by the commission.

“ We are not oblivious of insinuations and misconceptions in some quarters that the commission is concentrating its operational works on the fight against internet crimes.”

He said that while this narrative was not really true, the fact remains that cybercrime threatened the nation’s most significant asset, its reputation, and economic wellbeing.

“The losses by the financial services sector to cybercrime in the last three years is staggering.

“We cannot continue to sit idly and watch the integrity of our institutions compromised and our youths degenerate into uselessness.

“The future of our nation cannot and would not be allowed to hang in the balance. We must take collective actions against cybercrimes”.

According to him, talking about alternatives to cybercrimes, there are ample skills that can be optimised for national development.

He noted with concern that it was the lack of serious thought on the alternatives that had not made the youth shift their focus from criminal tendencies.

“First, there is the alternative of creative and innovative development of socially-beneficial applications that can deliver better prospects than internet fraud.

“Today’s event is tailored towards exposing young Nigerian with strong tech skills to the opportunities that abound in various industries, and sectors for legitimate wealth creation and honest livelihood.

“These opportunities can be found in the creative industry, tech ecosystem, financial services sector, medical services and even law enforcement,” he said.

The Head of Programme, International IDEA, Mr Danladi Plang, said that  Nigeria has a very youthful population that is versatile in the use of technology.

He noted with concern that the skill had, however, been used negatively in various forms including in digital financial crime.

“This has not only given the country a bad name internationally, but also a significant threat to the country’s financial system; and increased crimes against the person including child pornography.

“While we acknowledge the effort made by the EFCC and other law enforcement agencies in fighting cybercrime, perhaps we need to rethink our traditional approach of arrest, trial, conviction and imprisonment in fighting crime.”(NAN)(www.nannews.ng)

Edited by Joseph Edeh