The 2014 Nigerian Cyber Threat Barometer Report has identified the absence of a legal and regulatory framework to address the pervasiveness and approaches to cybercrime as a major cause of online misdemeanour in the country.
Wolf Pack and DigitalJewels partnered on the report which describes cybercrime as any crime that gets committed within cyberspace using a computing device.
According to the report other factors that contribute to the incidence of cybercrime in Nigeria include high rate of unemployment, inadequate cyber security skills in law enforcement agencies, government and private sectors.
The low security controls at a personal, institutional, sectoral and national levels are also key contributors just as lack of awareness of cyber threats.
According to The 2014 Nigerian Cyber Threat Barometer Report the low awareness also lends itself to widespread social engineering attacks, lack of comprehensive statistics on cyber security and absence of a national database which all make criminals more difficult to track.
The report also raises concern on the need to accord national priority to cybercrime in Nigeria with recent emphasis on electronic delivery channels to reduce cash in circulation in the country, increase of online retail stores and e-commerce activities and growth of e-government initiatives.
The report urged government to speedily pass the Cybercrime Bill 2013 to provide a basis for securing the country’s cyberspace. It also advocated the adoption of global best practice standards on information security on a national basis to strengthen institutional controls, processes, systems and skills.
It recommends that the banking industry regulator, the Central Bank of Nigeria (CBN) should take the lead while regulators of other critical sector of the economy, including telecoms, public sector, non-bank financial institutions and oil and gas should quickly follow.