The Nigerian Communications Commission (NCC) has said that Nigeria currently ranks third globally on internet crimes index.
According to the Chief Executive Officer of the commission, Umar Danbatta, Nigeria with 91.6 million of internet users is placed only behind the United Kingdom and the United States.
He said: “About N127 billion was the estimated loss to cyber crime in Nigeria in 2015; Nigeria ranks third in global internet crimes behind the UK and U.S.
“A critical factor militating against Africa’s economic resurgence is the weakness of its institutions.
“Nigeria ranks 169 out of 199 on the World Bank’s ease of doing business rankings; we are in a middle of a revolution and the rise of what we call the networked society.
“There are benefits and risks of the use of cyberspace and both have to be properly managed.”