ABSTRACT
Cybercrime has emerged as a significant threat to nations worldwide, with developing countries like Nigeria experiencing profound impacts on their socio-economic and national security landscapes. This research aims to provide a comprehensive examination of the impact of cybercrime in Nigeria, focusing on its economic, social, and security dimensions. Through a survey research design, this study investigates the financial losses suffered by individuals, businesses, and financial institutions due to cybercrime, as well as the broader economic implications, such as effects on trade, investment, and overall economic development. The research also explores the social implications of cybercrime, including the erosion of societal norms and values, the rise of fraudulent schemes, and the impact on individuals' financial security and personal well-being, particularly among vulnerable populations. Additionally, this study analyzes the existing legal and regulatory frameworks for combating cybercrime in Nigeria, identifying gaps and proposing enhancements to improve law enforcement capabilities. The national security threats posed by cybercrime are critically assessed, focusing on risks to critical infrastructure and data breaches. This study delves into the subcultures of cybercrime in Nigeria, such as the "Yahoo Boys," exploring their motivations, methods, and networks. Strategies and policies for mitigating the impact of cybercrime are recommended, emphasizing the importance of cybersecurity education, public awareness, and international cooperation. The findings highlight the urgent need for Nigeria to strengthen its legal frameworks, enhance law enforcement capabilities, and promote cybersecurity awareness to combat the growing menace of cybercrime. By addressing these challenges, Nigeria can foster a safer digital environment, support economic growth, and improve its global standing in the fight against cybercrime.
