A cyber security group, Cyber Security Experts Association of Nigeria (CSEAN) has estimated that Nigeria loses about N127 billion to cybercrimes yearly.

It said several cases of cyber crime activities in the country, many of which have resulted in financial losses by individuals and organisations, had been widely unreported.

The CSEAN said the country might face even greater odds in cybersecurity threats this year.

It, however, identified five cyber crimes that will dominate Nigeria this year based on the current trends as CEO e-mail scam, ransomware, online-assisted kidnapping, cyber bullying and online impersonation.