Yahoo! boys make N500 billion annually — Expert Says

Date: 09-09-2008 8:49 pm (13 years ago) | Author: Peter Brodaly
[1] 2
- at 9-09-2008 08:49 PM (13 years ago)
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Source

Cyber spammers, otherwise called Yahoo boys, make an annual income of N10 billion in Nigeria, of which the banking sector is said to be worst hit, losing about N7.8 billion to the scourge.
The various types of rampant cyber corrupt practices in the banking sector through which the banks lose huge sums of money include on-line financial fraud, identity theft, system penetration by outsiders, data and network sabotage and denial of service attacks.

Globally, the economic crime is costing the world economy sums in the region of over $500 billion annually.

The high rate of the crime in Nigeria has, however, been attributed to the lack of necessary legislation to deal with cybercrime.
The Chief Executive Officer of Global Network for Cyber Solution, a non-government and non-profit organization, Segun Olugbile made the disclosure in Abuja.

According to him, statistics show that there has been a significant increase in the figures over the past 30 years, adding that in 1970 the amount lost was approximately $5 billion, and rose to about $20 billion in 1980 and reached approximately $100 billion in 1990.

He lamented that Nigeria with the largest population of black people in the world does not have any reliable law to deal with cyber crime, but noted that the meeting of the organization held recently in Abuja after which a communiqué was released has proffered solutions to the problem.

According to him, part of the recommendations was that government should declare cyber crime and cyber security as a national emergency with conscious political will and special budgetary resources to effectively engage the challenges presented by its impact.

The meeting also wants the government to sponsor numerous bills and enact Acts to deal with the excesses of the pandemic.
Also, it called for the establishment of a national institute for cyberspace infrastructure protection, constitute a national standing committee on cyber crime and cyber security, among others.

Olugbile stated that there were reliable case studies to show that an attack on a national infrastructure “could by virtue of its catastrophic consequences, completely paralyze the machinery of Government.

Posted: at 9-09-2008 08:49 PM (13 years ago) | Newbie
- meczytimber at 11-09-2008 03:17 AM (13 years ago)
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its true

Posted: at 11-09-2008 03:17 AM (13 years ago) | Gistmaniac
Reply
- Abby at 13-09-2008 02:01 AM (13 years ago)
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i'm going 2 look 4 1 2 marry abeg, lol jk... There is no excuse, a thief is a thief... The ppl who carry guns n break in2 ppls houses r also tryin 2 make a living
Posted: at 13-09-2008 02:01 AM (13 years ago) | Upcoming
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- goldineecstasy at 16-09-2008 04:51 PM (13 years ago)
(f)
WHATEVER MY MUM IS KILLING HERSELF TO PAY MY FEES. PLS WHERE ARE THOSE YAHOO BOYS? SEND ME A MESSAGE LOL
Posted: at 16-09-2008 04:51 PM (13 years ago) | Newbie
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- khadijah at 17-09-2008 12:22 AM (13 years ago)
(f)
any yahoo boy care to give us lessons...?i need to make some cash...oh boy!!!
Posted: at 17-09-2008 12:22 AM (13 years ago) | Gistmaniac
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- babieada at 17-09-2008 03:31 AM (13 years ago)
(f)
wow, dat is a lot of money.
Posted: at 17-09-2008 03:31 AM (13 years ago) | Upcoming
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- keven at 29-12-2008 03:40 PM (12 years ago)
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 i beg just link me with those yahoo boys i want to make such money two
Posted: at 29-12-2008 03:40 PM (12 years ago) | Newbie
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- baloo at 30-12-2008 12:16 AM (12 years ago)
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4 real?
it is cul but wen dey r caught
shit!!
Posted: at 30-12-2008 12:16 AM (12 years ago) | Gistmaniac
Reply
- gen2esther at 30-12-2008 12:38 PM (12 years ago)
(f)
I don't encourage it, but if the government don't provide the youths with something to do, the will use their talents somewhere else. Most offices employ this youths, give them a lot of work to do, even on sundays and at the end ofthe day they pay them peanut as salary, what do the government expect them to do with the high cost of living in the Country?
Posted: at 30-12-2008 12:38 PM (12 years ago) | Upcoming
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- permanents at 30-12-2008 02:29 PM (12 years ago)
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Whichever way they make their money I don’t care cos I belief no truth in making money.
Posted: at 30-12-2008 02:29 PM (12 years ago) | Newbie
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- nollylove at 29-05-2009 02:42 AM (12 years ago)
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Interesting
Posted: at 29-05-2009 02:42 AM (12 years ago) | Upcoming
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- bigfisher at 29-05-2009 10:17 AM (12 years ago)
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Quote from: baloo on 30-12-2008 12:16 AM
4 real?
it is cul but wen dey r caught
shit!!


do they get caught and even if they do..they just pay thier way out..police efcc and ndlea are all part of the game..me think Nigeria needs healing cos it starts from the leadres up there
Posted: at 29-05-2009 10:17 AM (12 years ago) | Newbie
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- rbest at 29-05-2009 05:21 PM (12 years ago)
(f)
hmmm
Posted: at 29-05-2009 05:21 PM (12 years ago) | Gistmaniac
Reply
- Toinsauller at 30-05-2009 06:02 AM (12 years ago)
(m)
Uur right
Posted: at 30-05-2009 06:02 AM (12 years ago) | Upcoming
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- biamblinks at 30-05-2009 09:12 AM (12 years ago)
(m)
Yahooze Yahoo OH OH The so e suppose dey be
Posted: at 30-05-2009 09:12 AM (12 years ago) | Upcoming
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- aliaaz at 3-11-2011 01:51 PM (10 years ago)
(m)
una nor dey even shame self hissin..

Posted: at 3-11-2011 01:51 PM (10 years ago) | Gistmaniac
Reply
- kebella at 3-11-2011 01:56 PM (10 years ago)
(f)
who Huh?

Posted: at 3-11-2011 01:56 PM (10 years ago) | Addicted Hero
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- cutelizzy at 18-12-2011 04:20 PM (9 years ago)
(f)
I ned a yahoo guy 2 date,whether ugly or handsome nt d poor 1 bt d rich 1,make i follower chop whona money.
Posted: at 18-12-2011 04:20 PM (9 years ago) | Upcoming
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- Weezyhenry at 25-07-2012 07:22 AM (9 years ago)
(m)
yahoo good bcos of our bad government
Posted: at 25-07-2012 07:22 AM (9 years ago) | Newbie
Reply
- youngboss11 at 16-11-2012 03:06 PM (9 years ago)
(m)
Abeg sure guyz around come teach me Yahoo O...abeg inbox me if u wan help me ..... Naa beg I beg

Posted: at 16-11-2012 03:06 PM (9 years ago) | Upcoming
Reply
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