Oluremi Tinubu: Cybercrime undermining national stability, economic growth

Oluremi Tinubu, the first lady, says cybercrime is a threat to Nigeria’s stability and economic progress.

The first lady spoke in Abuja on Tuesday at the national cybercrime summit organised by the Economic and Financial Crimes Commission (EFCC).

‘Alternatives to cybercrime: Optimising cyber skills for national development’ was the theme of the summit.

She expressed concerns over the number of youths involved in cybercrime, despite the clampdown and prosecutions by the EFCC.

“Over 60 percent of Nigeria’s population consists of youth, many of whom are involved in cybercrime, which poses a serious risk to the nation’s development,” the first lady said.

She called for collaboration between parents, law enforcement agencies, schools, the private sector, religious and traditional leaders, business executives, communities, and civil society in the fight against cybercrime.

She also urged mothers to instill strong values in their children, build trust, and maintain open communication channels with them. 

“Bonds of trust and understanding should be created between parents and their children to allow for open communication, whereby their fears and insecurities could be addressed,” Oluremi said.

“I am informed that thousands have been arrested, prosecuted, and convicted, yet there is no indication that the number of those involved is decreasing.”

AbdulRahman AbdulRazaq, the governor of Kwara and chairman of the Nigerian Governors’ Forum (NGF), commended the EFCC for hosting the summit and noted its relevance in the fight against cybercrime.

He acknowledged the contributions of the National Orientation Agency (NOA), the National Drug Law Enforcement Agency (NDLEA), and the EFCC in shaping the minds of young people.

Ola Olukoyede, the EFCC chairman, said cybercrime weakens traditional values and promotes “a get-rich-quick mentality”.

The EFCC chairman added that global losses from cybercrime have been projected to reach $10.5 trillion, making it the third-largest economy in the world with approximately 2,328 daily losses.

“In 2022, Nigeria lost more than $500 million to cybercrime while the EFCC recorded 3,455 convictions last year—many of them linked to online crime,” Olukoyede said.

Ayodele Wisdom, minister of state for youth, said the government is making efforts to engage the youth through initiatives like student loans and transport support.

Wisdom added that there is a need to establish digital training centres across the states to help young people improve their skills and combat cybercrime.