Skip to content
July 8, 2026
  • Home
  • About us
  • Contact us
  • Newsletter
  • Privacy Policy
Political Economist

Political Economist

A liberal News reporting Politics, Sports, Business, Commentaries

Watch Online
  • Home
  • Business & Economy
  • Cyber security damage to top $6trn by 2021 – US envoy
  • Business & Economy

Cyber security damage to top $6trn by 2021 – US envoy

Admin May 10, 2018

Cyber attack

Cyber attack

Cyber security ventures are suggesting that damage by global cybercrime would hit six trillion dollars annually by 2021, Mr John Bray, U.S. Consul-General in Nigeria, has said.

Bray made the disclosure at the opening of a two-day conference organised by Cyber Security Experts Association of Nigeria (CSEAN) in Lagos on Wednesday.

The News Agency of Nigeria (NAN) reports that the conference had the theme:  ”Mitigating Cyber Threats in the Digital Age”.

The consul-general said that cybercrime might soon become more profitable than global trade.

He also expressed worry that applications and infrastructure being built with an agile mindset could be easily adapted for purposes not originally conceived by their coders.

Bray said that, with Internet of Things (IoT) and the growth of the digital movement, there would be continuous increase of cybercrime.

“As the world embraces the IoT, big data, cloud and mobility, security must be more than an afterthought.

” With new threats appearing on a daily basis, and attackers continuously refining their techniques, it could be difficult to keep up.

”Businesses and government agencies need to evolve more infrastructure  to cope with the ever-changing threats.

“Landscape organisations can no longer merely react to threats but need to create infrastructure that are agile and adaptive where breaches are addressed before they happen,” he advised.

Bray said that cyber security must become an enabler of businesses, lifestyles, healthcare and a better society.

He urged that workshops, plenary and breakout sessions at the conference should fully explore the issues and further prepare Nigeria’s cyber security industry for evolving challenges of the cyber space.

The envoy also urged Nigerians to join the U.S. Department of Homeland Security’s ongoing cyber security awareness campaign tagged “Stop. Think. Connect”.

Prof. Umar Danbatta, Executive Vice Chairman, Nigerian Communications Commission, said that although the commission was not a security agency, it ensured that there was an enabling environment to assist security agencies in telecom-related security incidents.

He said that Nigeria was facing numerous challenges in cybercrime management as a result of absence of comprehensive and reliable demographic and biometric database.

” We also have insufficient expertise in the area of cyber and information security.

” We do not have sufficient inter- agency, regional and international collaborations, ” he said.

The executive vice chairman said that the commission had played several roles in combating cybercrime and developing cyber security.

” We have put in place relevant regulations to support security agencies such as registration on lawful interception.

He added that the commission championed national SIM card registration, noting that the registration matched each SIM card with a biometric identity that served as a key database which governments and crime management programmes could  rely on.

Danbatta also said that the commission played a major role in the  implementation of national cyber security strategy.

Danbatta said that CSEAN was  a partner in the  “Stop. Think. Connect”  campaign  aimed at helping global digital citizens to stay safer and more secure.

He advised Nigerians to be more vigilant and develop safe online habits.

Tags: cyber security Cyber Security Experts Association of Nigeria (CSEAN) john Bray Nigerian communications commission Prof. Umar Danbatta U.S. Department of Homeland Security US Consul General

Post navigation

Previous More support for Oshiomhole as he declares to contest Chairmanship of APC
Next Nigerians eager to see completion of Lagos Ibadan highway – Lai

Related Stories

Tinubu directs FCCPC to investigate Big Techs over alleged Nigeria media exploitation
  • Business & Economy

Tinubu directs FCCPC to investigate Big Techs over alleged Nigeria media exploitation

July 6, 2026
Shettima, Okonjo-Iweala, Lumumba, Brazilian, Chinese investors for Delta Summit
  • Business & Economy

Shettima, Okonjo-Iweala, Lumumba, Brazilian, Chinese investors for Delta Summit

July 6, 2026
Implement Community Agreements or Lose Your Titles, Alake Warns Mining Firms – Alake
  • Business & Economy
  • National News

Implement Community Agreements or Lose Your Titles, Alake Warns Mining Firms – Alake

July 3, 2026
logo

Political Economist is a liberal news magazine with global affiliations.

At Political Economist, we promote free enterprise and act as a catalyst for the growth of knowledge economy. We are proudly pan-Nigeria yet richly spiced with African and global news. We offer a fair and balanced news reportage presented by our team of well-heeled professional journalists. <

About us

  • 5 Olutosin Ajayi Street, By CPM Church, Ajao Estate, Lagos State, Nigeria
  • +234 805 680 1124
  • info@politicaleconomistng.com

Follow

Subscribe to notifications

You may have missed

The Ideological Chasm Between Obi and Umahi, by Valentine Obienyem
  • Commentaries

The Ideological Chasm Between Obi and Umahi, by Valentine Obienyem

July 6, 2026
Matawalle is right, Tinubu will sweep the north, by Jack Okude
  • Politics

Matawalle is right, Tinubu will sweep the north, by Jack Okude

July 6, 2026
Tinubu directs FCCPC to investigate Big Techs over alleged Nigeria media exploitation
  • Business & Economy

Tinubu directs FCCPC to investigate Big Techs over alleged Nigeria media exploitation

July 6, 2026
Shettima, Okonjo-Iweala, Lumumba, Brazilian, Chinese investors for Delta Summit
  • Business & Economy

Shettima, Okonjo-Iweala, Lumumba, Brazilian, Chinese investors for Delta Summit

July 6, 2026
  • Home
  • About us
  • Contact us
  • Newsletter
  • Privacy Policy
Copyright © All rights reserved. | DarkNews by AF themes.