An Abuja federal court fined 21 foreign hackers ₦1 million each and ordered their deportation for orchestrating cyberattacks that cost Nigeria ₦2 billion in 2024. The hackers, from China, Russia, and India, were convicted of breaching 50 financial institutions, including banks and fintechs, through phishing and ransomware schemes.
The ruling, following a six-month EFCC investigation, aims to deter Nigeria’s rising cybercrime, which accounts for 15% of Africa’s $10 billion annual losses.
The hackers, arrested in Lagos and Abuja, exploited Nigeria’s 90% mobile penetration, targeting 10 million mobile banking users. Their attacks, using malware like WannaCry, compromised 5,000 accounts, with 60% linked to small businesses. The EFCC recovered ₦500 million in stolen funds, but 70% of victims, mostly SMEs, face permanent losses. The court’s order mandates deportation within 30 days, with 80% of the hackers, aged 25-35, banned from Nigeria for five years.
Critics argue the fines, totaling ₦21 million, are lenient compared to Nigeria’s $500 million cybercrime losses in 2023. The Nigerian Communications Commission noted only 20% of firms have robust cybersecurity, exposing vulnerabilities. The hackers’ use of VPNs and offshore servers, detected by Interpol, highlights Nigeria’s 30% cybersecurity skill gap. The government’s 2024 Cybercrime Act, mandating jail terms, was softened to fines due to diplomatic pressures, with 40% of cases involving foreign nationals.
The ruling aligns with Nigeria’s push for a secure digital economy, contributing 10% to GDP. Public support, at 75%, demands harsher penalties, but the EFCC’s 500 cybercrime convictions in 2024 show progress. As Nigeria hosts 50% of West Africa’s fintechs, the deportation signals a crackdown, though 25% of analysts warn of retaliatory cyberattacks. The case underscores the need for global cooperation to protect Nigeria’s $1 trillion economy goal.
