• Nigerian-linked fraud costs $1.8bn yearly, mostly US victims
• US report ranks Nigeria fifth globally in online fraud
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• Calls for stronger cybercrime prevention, law enforcement reform
The United States government has warned that cybercrime linked to Nigeria causes over $1.8 billion in annual losses, primarily affecting victims in the US, according to a report presented on Thursday in Abuja.
Dr Douglas Grey, Director of the U.S. Embassy’s International Narcotics and Law Enforcement Affairs Office, spoke during the public launch of the Nigeria Cyber Crime Assessment Report. The study, funded by the U.S. Department of State, ranks Nigeria fifth globally among top sources of online fraud.
“According to a study covering cyber fraud linked to Nigerian accounts, business email compromise and related schemes cause losses to over $1.8 billion in a single year; and many of these victims, in fact, most of these victims, reside in the United States,” Grey said. “Cybercrime erodes confidence in digital systems, discourages digital investment, and undermines the integrity of global financial services and public services.”
Grey commended Nigerian authorities for their collaboration and highlighted that trained Nigerian officers had facilitated the extradition and prosecution of criminals, securing $700,000 in victim restitution since August.
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He further warned about the dangers of online sexual exploitation, emphasising that children remain highly vulnerable to cyber-enabled sex crimes. “The exploitation of children is disgusting and is one reason all of us want to work together to clamp down on cybercrime and hold these perpetrators to account,” he said.
UNODC Country Representative Cheikh Ousman Toure described the report as a roadmap for action, noting gaps in Nigeria’s technical capacity, public awareness, and international cooperation mechanisms. He urged stronger legislation, intelligence sharing, and nationwide prevention campaigns, particularly targeting schools and vulnerable communities.
“Every dollar invested in cybercrime prevention saves millions in economic loss and protects citizens from harm,” Toure said, reaffirming UNODC’s commitment to support Nigeria’s efforts against cybercrime and to position the country as a regional leader in combating these global threats.
