Claire, a 24-year-old student at the Nigerian Institute of Journalism, had no idea that a straightforward internet purchase might end up costing her thousands of dollars. The Lagos resident saw an Instagram vendor selling a cheap secondhand iPhone on Christmas Eve of 2025. With pictures and positive reviews from customers, the page appeared authentic.
The merchant asked her to send ₦120,000 for the phone after a brief exchange of words. Claire sent the money since she trusted the offer.
The vendor ceased responding a few minutes later. The Instagram page vanished and the number was no longer available. Claire realized she had been duped at that point.
From fake online stores to phishing messages and investment scams, many Nigerians are losing money to internet criminals who operate across different digital platforms.
The nation has also suffered significant financial losses as a result of cybercrime. According to the Economic and Financial Crimes Commission (EFCC), cybercrime costs Nigeria hundreds of millions of dollars annually.
Thousands of convictions connected to online fraud and similar offenses have also been obtained by the anti-graft agency, demonstrating the extent of the issue.
Mathew Olatunji, President of the Cyber Security Experts Association of Nigeria (CLEAN), told Naija News that the current state of affairs is concerning.
“The frequency and complexity of cybercrime in Nigeria are currently at a high threat level,” he stated.
He claims that criminals now attack people, companies, and financial institutions using a variety of techniques.
He clarified, “We’re seeing persistent phishing campaigns, ransomware incidents, business email compromise, SIM-swap fraud, and credential harvesting.”
According to Olatunji, the quick development of digital technology has given cybercriminals new chances.
“New vulnerabilities have been introduced by cloud adoption, mobile banking penetration, and remote work environments,” he stated.
Scammers are increasingly employing sophisticated techniques to boost the effectiveness of their attacks, he continued.
Additionally, we’re seeing automation in fraud activities. He claimed that in order to scale attacks, attackers are use scripts and AI-assisted social engineering.
According to the cyber security expert, a lot of scams are successful because crooks use people’s emotions.
According to him, “the majority of online scams are built around urgency, fear, greed, or emotional connection.”
He claims that when consumers are offered immediate financial rewards or receive letters threatening to shut their bank account, they frequently become anxious.
He added that a lot of Nigerians divulge private information online without considering the dangers.
According to him, “scammers can obtain information from public profiles and use it to make their messages appear authentic and personalized.”
Olatunji cautioned that when interacting with people online, there are typical indicators to be aware of.
These include offers that promise unrealistic earnings, communications that put pressure on consumers to act right away, and requests for private information like bank account information or passwords.
According to him, “reputable organizations won’t request passwords, OTPs, or PINs via email or social media.”
Cybercriminals are increasingly focusing on small enterprises.
Olatunji claims that although many small firms have important information, they frequently lack robust cybersecurity solutions.
According to him, “common attacks include phishing emails to employees, ransomware that locks essential files, fake invoices, and payment diversion scams.”
Cybercriminals frequently view small enterprises as easy targets, he continued.
He clarified, “Attackers view small businesses as soft targets, profitable, and less equipped to detect or respond to threats.”
Olatunji advised Nigerians to follow basic safety measures when using the internet.
He advised using two-factor authentication whenever feasible and creating strong, one-of-a-kind passwords for each account.
Additionally, he advised individuals to use caution when clicking links in texts, emails, and social media posts.
He advised being wary about attachments and links, particularly those from unidentified sources.
People should routinely check their bank accounts for questionable transactions, the cyber security expert continued.
In recent years, Nigerian banks and fintech firms have enhanced their security measures, according to Olatunji.
He stated, “Nigerian banks and fintech companies have made significant strides in improving cybersecurity.”
He claims that multi-factor authentication, transaction notifications, and sophisticated fraud detection technologies are now widely used by banking institutions.
To get ahead of hackers, he said, more effort is still required.
“Faster response mechanisms and ongoing customer education are still needed,” he stated.
Olatunji suggested that those who have already been duped should act right away.
He stated, “The first step is to stop further exposure immediately, freeze your bank account, or change your passwords.”
Additionally, he counseled victims to notify law enforcement organizations like the EFCC and their bank about the event.
“Documenting all evidence, including emails, screenshots, messages, and transaction records, is also crucial,” he continued.
According to Olatunji, the government and security organizations must play a significant part in combating cybercrime.
He stated, “The government and law enforcement must provide strong cybercrime legislation and adequate resources for enforcement agencies.”
In order to combat cross-border cybercrime, he continued, authorities should raise public awareness and collaborate with foreign partners.
The cyber security specialist also had some advice for young Nigerians who could be tempted to commit online fraud.
“My advice is straightforward: don’t do it,” he stated.
“Internet fraud has serious legal repercussions, including lengthy prison terms and permanent criminal records, even though it may seem like an easy way to make money.”
He urged youth to concentrate on respectable digital skills that can lead to genuine opportunities.
He stated, “Young people should concentrate on legitimate digital skills like programming, cybersecurity, digital marketing, and fintech development.”
