The following is my opinion. The emergence of the internet has revolutionised the way people all over the world do business and socialise with one another. Some young people, however, have turned the internet into an aberration rather than making use of its many advantages. Many youths today want to live extravagantly despite having limited financial resources. As a result, cybercrime has emerged as one of the most pressing social problems in need of immediate solutions as people turn to the internet in search of easy ways to enrich themselves illegally.
It was discovered that the internet had become a tool for many young Nigerians to commit a variety of social, financial, and economic crimes. Internet fraudsters engage in criminal activities online to steal money or personal information from unsuspecting users. They utilise the internet to lure individuals into doing their bidding. Email spamming, account hacking, and other forms of online fraud fall under the illegal money-making activities named “Internet fraud, Yahoo or 419”, as it is being called. However, it is not a secret that criminal activity on the internet can be found in practically all countries throughout the world.
Both education and the economic sector have been affected.
Many youths have become overnight millionaires due to their involvement in such criminal activities. These days, lots of young people run dubious online businesses. Some students who are able to stay in school ultimately buy their way till they finish, while the primary purpose of their visiting the school most time is to flaunt their illicit wealth. The so-called “Yahoo boys” pose a danger not just to the economy but also to the Nigerian educational system. In addition, some secondary school students have been lured into illicit commerce.
Furthermore, the alarming surge of online financial services fraud was brought to light, with the Central Bank of Nigeria and the Nigeria Inter-Bank Settlement System voicing their concerns about the problem. Despite the mandated NIN-SIM linkage implemented by the Federal Government, there are still questions on why those who utilise mobile lines and bank accounts to scam others were not quickly apprehended and penalised. Thus, this emphasised the importance of the Nigeria Communications Commission, the banks and security agencies doing more to solve the issue.
Many factors contribute to its spread in the country.
Looking further into the situation, several factors that contribute to the growth of criminal activities in Nigeria include the ineffectiveness or absence of financial regulation, lack of jobs for the enormous youth population, peer pressure, poverty, and the failure of the government to appropriately penalise offenders, all of which continue to pose a risk to the nation’s economic progress. From the information gathered, I discovered that the incidences of fraud has increased over the past few years as many youths are getting themselves involving themselves in the act.
According to Statista, 1.7 thousand males and 337 females were apprehended in Nigeria for advance fee fraud in 2019. Additionally, 73 females and 878 males were detained for cybercrimes. In general, males made up the large majority of those who were apprehended in Nigeria for committing financial and commercial crimes. In 2017, Nigeria’s Ministry of Communications said that the country’s economy as a whole was losing roughly N127bn per year to Internet fraud. Also, it stated that the vast majority of frauds were committed using foreign domain names but had grown in popularity among Nigeria’s millions of online users.
A productive environment needs to be created to curb the menace.
In order to solve this issue, Nigeria must take a long look at itself. The underlying causes of this societal illness in the nation must be addressed. It is imperative that adequate employment opportunities be made available to many unemployed graduates if they are to be diverted away from criminal activities. Also, the government needs to take a harder stance in prosecuting people who commit cybercrime in order to dissuade others from doing the same. Society must also play its part in condemning fraudulent activity as well.
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Internet Fraud: A Menace amidst Nigeria Youth – Many youths want to live extravagantly despite having limited resources. – Express your point of view.
Internet fraud is a menace among Nigerian youths who desire to live an extravagant lifestyle beyond their means. This issue must be addressed as it poses a threat to Nigeria’s socio-economic growth and tarnishes the country’s image on the global stage. It’s essential that the government and other stakeholders take measures to deter young people from engaging in fraudulent activities and provide them with viable alternatives to earn a living.
This menace of internet fraud is a reflection of what the politicians themselves do. There I poverty in the land, and a lot of youths are not ready to work, thereby making them engage in fraudulent activities.
Internet Fraud: A Menace amidst Nigeria Youth. Some people just want to make money anyhow. Making money by hotting others is not the right way. Government is not helping matter, the country is very hard for a lot people, no job opportunity for the youth. Most of the youth are just doing anything just to survive.
Internet fraud is a problem for young people in Nigeria who want to live luxurious lives beyond their means. This problem needs to be resolved since it endangers the country development and harms reputation of the country
Internet fraud is very common among the youth because they believe it as a way to acquire quick wealth without much effort. The failing economy of the country is also contributing to this.
Internet fraud is a problem for young people in Nigeria. people’s only concern is making money for them to enjoy life Government inaction is the cause of the nation’s many hardships and the youth’s lack of employment opportunities. The majority of young people basically do everything to survive. There must be a way to stop all this internet fraudster
Internet Fraud: A Menace amidst Nigeria Youth, internet fraud is much in nigeria people are lazy to work they want soft money it is necessary to find a solution to this issue because it jeopardizes the country’s prosperity and reputation
To completely curb internet fraud, every basic necessity must be provided by the government. The reason why the youth take in to such act is as a result of failed system.
The youths are taking into internet fraud because the government has not done what is beneficiary to the youth. They have failed them in several ways; academically, jobs, working economy etc.