‘Yahoo boys cost Nigeria N78 billion yearly’ | Minister cries out

The Minister of Communications, Adebayo Shittu has revealed that Nigeria loses about N78 billion yearly to cyber crimes.

The minister revealed this while speaking in Abuja on Monday, January 11 at the opening ceremony of a 5–day capacity enhancement and sustainability workshop organised by the National Universities Commission (NUC).

He stated that financial institutions, government ministries, departments and agencies (MDAs) as well as their affiliates have become targets for people who commit cyber crimes.

Shittu said his ministry had submitted recommendations to the government on how to tackle cyber crimes.

“It is also note worthy to mention here that Nigeria currently loses about 78 billion yearly to activities of cyber criminals whose major targets are the financial institutions, and the government ministries, departments and agencies (MDAs) as well as their affiliates,” he said.

Also, he revealed that President Muhammadu Buhari is planning to lay the foundation for sustainable growth of the education sector by upgrading the quality of education in Nigerian universities.

“In line with the present government’s decision to build upon existing infrastructure, President Buhari is planning to lay the foundation for sustainable growth of the education sector and to improve upon the quality of education in Nigerian Universities.

“This is evident from the percentage that has been earmarked for education in the 2016 budget of change. This percentage for education in the 2016 budget proposal reveals the administration’s commitment to the improvement of the standard of education.”

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