…EFCC recovers N249bn, other currencies from September 2023 to October 2024
By Seun Adams
The Chairman, Economic and Financial Crimes Commission (EFCC) Mr. Ola Olukoyede, on Tuesday aggregated the envisaged global loss to cybercrimes to $10.5 trillion by 2025.
This is coming even as he added that 2,328 cases of cybercrimes occur daily.
According to him, the Commission in one year secured 3,455 convictions and made monetary recoveries of N248,750,049,365.52, $105,423,190.39, £ 53,133.64, €172,547.10, T1,300.00, CAD $3,400.00, ¥74,859:00, AUS $ 740:00, 170:00 UAE DIRHAM, 73,000:00 KOREAN WON, CFA 7,821,375:00, to R 50:00 among others.
Olukoyede, who made the disclosure at the unveiling of a 24-hour cybercrime rapid response desk in Abuja, by the wife of the President, Mrs. Oluremi Tinubu, at the national cybercrime summit, said EFCC is determined to break the criminal networks and damage associated with internet fraud across the country.
According to him, the initiative is meant to bring up digital and accelerated information transmission on internet fraud from the public with both local and international telephone numbers through which the EFCC can be reached on a 24-hour basis on matters relating to cybercrime in Nigeria and across the globe.
The unveiling, according to Mr. Dele Oyewale, Spokesperson in a statement came with support from the Rule of Law and Anti-Corruption, (RoLAC), programme, European Union (EU) and International IDEA.
Highlights of the programme, he said include panel discussions on alternative frameworks to insulate youths from cybercrimes, presentation of award to winners of EFCC 2024 Essay Competition organized for students in secondary and tertiary schools in the country, with cash prizes ranging from N350, 000 to N800, 000 and a documentary on the activities of the EFCC in the last one year of Olukoyede’s resourceful leadership.
In her address Tinubu acknowledged that theme of the summit resonated deeply with the current challenges cybercrime posed not only in Nigeria but across the globe.
According to her, cybercrime is not just a crime against individuals and businesses. It is an assault on our collective integrity, economic stability and the future of our youth.
She commended EFCC for devotedly seeking solution to the lingering menace.
Nigeria, the first lady added was confronted with the reality of the dangers and new vulnerabilities the digital age are posing to humanity.
“It is therefore crucial that we address these challenges head on and explore not only the harmful consequences of cybercrimes but also the sustainable alternatives that can redirect our youths towards productive and positive endeavours.
“With young people accounting for more than 60% of our population, the involvement of youths in cybercrime is a threat to the nation’s quest for economic stability.” she said
Olukoyede, also observed that “The menace of cybercrimes, like most economic and financial crimes, is a burning challenge that we cannot deny, ignore or wish away.”
“The national discourse on cybercrime, the EFCC boss said, was necessitated by “the overarching need for us to articulate opinions and build greater strength against the scourge of cybercrimes. This time around, we are not only interrogating the problem, we are aggregating workable solutions to it.
“The enormity of challenges posed to us as individuals and nation by cybercrimes are grievous.
“As individuals, youths’ involvement in these crimes is distorting and corrupting acceptable family values. The tendency towards quick riches no longer positions our young people for enterprise, resourceful intellectual aspirations and technological innovations.”