Increasing cases of cyber fraud in Nigeria continues to cost the country both internally and globally. In fact, the Federal Bureau of Investigation ranked Nigeria as the 16th worst country that is being affected by cyber fraud. As a result of this menace, reports claim that Nigeria loses about N127 billion annually, an amount that represents about 0.8% of the country’s gross domestic product in loss of foreign investment. With a high proportion of about 120 million Nigerians who are internet users, the Economic and Financial Crimes Commission has faced immense struggles at containing this menace.
The level at which internet scams are being perpetrated evidently indicate how socioeconomically degenerated the country has become, and this menace have immensely harmed Nigeria’s reputation in the global scene. It has become an increasingly herculean challenge to travel abroad without being suspected of a crime as Nigerians, due to the high cases of electronic scams that are being perpetrated in Nigeria. Even internal banks in Nigeria have been fatally affected by this menace.
Increase in connectivity responsible for growing scam emails.
Galaxy Backbone (GBB) has however indicated that close to 5 million fraudulent emails are sourced from Nigeria annually. Prof. Muhammed Abubakar, the Managing Director of Galaxy Backbone pointed this out during a two-days training workshop organized for journalists under the Nigerian Information Technology Reporters Association (NITRA). Abubakar stated that the increase in scam emails in Nigeria sources back to the increase in connectivity and internet users in the country. Represented by Mr. Ifedayo Balogun, the Senior Manager of the country noted his concerns over the growing cases of cyberattacks in Nigeria, warning internet users to take precautionary measures to wade off scammers.
He noted that the company has no inbound traffic in regard to the scam emails being sent from Nigeria, because it is coming through a different, transatlantic medium. Mr. Ifedayo further explained that Nigeria’s internet exchange could give a record of the traffic that comes into the country and though they weren’t supposed to advertise their brand then, things have changed as a result of the services being provided to private and public sectors, some of which private and public sectors, some of which are free, and others are not due to the bought third party equipment.
Workshops organized to improve cybersecurity awareness among Nigerians.
It was also noted that the intent of these workshops is to equip journalists with the needed skill sets to report observations in the IT industry, as well as improving cybersecurity awareness among Nigerians. Ifedayo again noted that the company’s partnership with the media would be mutually beneficial, as it gives GBB the needed push for developmental information, most especially for Nigeria’s digital economy drive. NITRA’s president, Abuja Chapter, Mr. Blessing Olaifa noted that the training revealed other statutory responsibilities and actualizations of GBB which were hidden due to lack of publicity. He however appealed to the company to work on accruing more publicity for the crucial services being rendered, especially on the actualization of the Federal Government’s digital economy roadmap.
Engineer Garba Balarabe from the department of research, digital innovation and skills development, noted that every one of the company’s services are available to the general public. He disclosed GBB’s 30 bouquets categorized into 6 services delivered using fibre backbones through ELT and Visat. On the affordability of their services, Engineer Garba stated that the company’s prices are very competitive, as they use competitive analysis with others. He also noted that GBB, though government-owned, is structured to be agile and efficient so as to compete globally.
In fibre, GBB offers the best communication medium faster than 5G.
Garba also noted that the company was working on a strong security proposition. He also disclosed that GBB is governed by the global best practice in the industry and the first government company to be ISMS and SMS certified. On the preparedness of GBB to key into the 5G technology, Garba stated that there has been a lot of misunderstandings around the 5G technology. He explained that the best medium of communication was through fibre, as it offers its operations with the speed of light. He then stated that while 5G is a mobile communication medium, GBB offers a service, through fibre, that is 5 times faster and more efficient than 5G.
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