EFCC Unveils Cybercrime Rapid Response Service

The Economic and Financial Crimes Commission, EFCC, has on Tuesday, unveiled a 24- hour Cybercrime Rapid Response Desk.

This move was part of efforts by the commission to break criminal networks and damage associated with internet fraud across the country.

The unveiling done at the Banquet Hall, Presidential Villa, Abuja by Senator Oluremi Tinubu, First Lady, Federal Republic of Nigeria , is meant to bring up digital and accelerated information transmission on internet fraud from the public and un-impeded response from the Commission.

It is provided with both local and international telephone numbers through which the EFCC can be reached on a 24-hour basis on matters relating to cybercrime in Nigeria and across the globe.

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The unveiling was part of the highlights marking the National Cybercrime Summit organized by the EFCC with support of the Rule of Law and Anti- Corruption, RoLAC, Programme, European Union and International IDEA.

The Summit was themed: “Alternatives to Cybercrime: Optimizing Cyber Skills for National Development.”

Highlights of the programmed include panel discussions on alternative frameworks to insulate youths from cybercrimes, presentation of award to winners of EFCC 2024 Essay Competition organized for students in secondary and tertiary schools in the country, with cash prizes ranging from N300, 000 to N800,000 and a documentary on the activities of the EFCC in the last one year of Mr. Ola Olukoyede’s resourceful leadership.

The documentary, featuring the period between October 2023 and September, 2024 showed that the EFCC secured 3455 convictions and made monetary recoveries of N248,750,049,365.52 (Two Hundred and Forty-Eight Billion, Seven Hundred and Fifty Million, Forty-Nine Thousand, Three Hundred and Sixty-Five Naira, Fifty-Two Kobo); $105,423,190.39 (One Hundred and Five Million, Four Hundred and Twenty-Three Thousand, One Hundred and Ninety Dollars, Thirty-Nine Cents); £ 53,133.64 (Fifty-Three Thousand, One Hundred and Thirty-Three Pound Sterling, Sixty-Four Pence;€172,547.10 (One Hundred and Seventy-Two Thousand, Five Hundred and Forty-Seven Euros, Ten Cents); T1,300.00 (One Thousand, Three Hundred Indian Rupees); CAD $ 3,400.00 (Three Thousand, Four Hundred Canadian Dollars); ¥74,859:00 (Seventy-Four Thousand, Eight Hundred and Fifty-Nine Chinese Yuan); AUS $ 740:00 (Seven Hundred and Forty Australian Dollars); 170:00 UAE DIRHAM (One Hundred and Seventy United Arab Emirates Dirham); 73,000:00 KOREAN WON (Seventy-Three Thousand Korean Won); CFA 7,821,375:00 (Seven Million, Eight Hundred and Twenty-One Thousand, Three Hundred and Seventy-Five West African CFA) to R 50:00 (Fifty South Africa Rands).

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In her keynote address, Mrs Tinubu noted that the theme of the summit resonated deeply with the current challenges cybercrime posed not only in Nigeria but across the globe.

According to her, “Cybercrime is not a crime against individuals and businesses. It is an assault on our collective integrity, economic stability and the future of our youth”.

She praised the EFCC for devotedly seeking solution to the lingering menace.

She stated that Nigeria was confronted with the reality of the dangers and new vulnerabilities the digital age are posing to humanity.

“It is therefore crucial that we address these challenges head on and explore not only the harmful consequences of cybercrimes but also the sustainable alternatives that can redirect our youths towards productive and positive endeavours. With young people accounting for more than 60 per cent of our population, the involvement of youths in cybercrime is a threat to the nation’s quest for economic stability,” she said.

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Chairman of the EFCC, Ola Olukoyede observed that “the menace of cybercrimes, like most economic and financial crimes, is a burning challenge that we cannot deny, ignore or wish away.”

The national discourse on cybercrime, the EFCC boss said, was necessitated by “the overarching need for us to articulate opinions and build greater strength against the scourge of cybercrimes. This time around, we are not only interrogating the problem, we are aggregating workable solutions to it.”

Further in his speech, he observed that “The enormity of challenges posed to us as individuals and nation by cybercrimes are grievous. As individuals, youths’ involvement in these crimes is distorting and corrupting acceptable family values.

The tendency towards quick riches no longer positions our young people for enterprise, resourceful intellectual aspirations and technological innovations.”

In financial terms, Olukoyede stated that 2,328 (Two Thousand, Three Hundred and Twenty-eight) cases of cybercrime occur daily globally with a global loss projected to hit $10.5 trillion by 2025.

“Projections by multiple sources show that the global loss to cybercrimes may reach a staggering $10.5 trillion by 2025, with approximately 2,328 (Two Thousand, Three Hundred and Twenty-eight) cases occurring daily. The implication of all these is that, if left unchecked, cybercrimes portend grave dangers to the entire world. These are the realities stoking the Commission’s fight against these crimes.”