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Cybercrime: An Emerging Threat to Economic Development in Nigeria
Abstract
This paper presents the nature, effects, and dynamics of cybercrime in Nigeria and its effects to economic development in the country. The paper is sourced for secondary data through, journals, periodicals and publications as well as obtained primary data from the field. Primary data was sourced through the distribution of 66 questionnaires using the purposive sampling technique. Findings revealed that there exists an insecure cyberspace in Nigeria and the activities of the cybercriminals affects the economy negatively by discouraging Nigerians from partaking in electronic services/transactions, thus discouraging Nigerians from accepting the concept of digital economy. Findings also revealed that activities such as unauthorized access, hacking and cracking, online fraud, identity theft, cyber terrorism, amongst others were dominant threats in the cyberspace and finally the cyberspace provide jobs and by implication contribute to the socioeconomic development of the Nigerian State. Recommendations proffered include the federal government to train and retrain forensic experts in all financial/security agencies towards achieving a secured cyber space and the need for the federal, state, and local governments to create awareness amongst others.
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