The President of Cyber Security Association of Nigeria (CSEAN), Mr. Remi Afon, has said Cyber-crime originating from Nigeria is worth $9.3 billion yearly.

He spoke in a statement in Abuja on the planned launch of CSEAN in Lagos and award of certificates to new members.

Afon said: “based on research by Palo Alto Networks in 2014 and Fire Eye 2015, activities of cyber criminals in Nigeria is now shifting from phishing emails to actual exploit through malware”, though, there were no available statistics on volume of malware being generated from the country.

“It is estimated by Dutch investigation firm, Ultrascan, that Nigeria-based cybercrime is costing around $9.3 billion (£5.5b) globally each year,” he added.

He lauded efforts of the Federal Government to combat the menace.

It would be recalled that immediate past President Goodluck Jonathan had signed the Cyber-crime bill into law on October 24, 2014.

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