Interpol Nigeria, alongside cybersecurity experts and local intelligence community members, has embarked on an initiative to tackle the growing cybercrime threat in the country. This effort includes specialized training focused on virtual assets, particularly stablecoins.
Strategic Training to Combat Cybercrime
A significant meeting took place in Abuja, Nigeria’s capital, under a training platform organized by A&D Forensics in collaboration with the Africa Stablecoin Consortium. This initiative aims to equip Nigerian Interpol agents with the skills necessary to address cybercrimes involving digital assets. According to blockchain specialist Chioma Onyekelu, the training session is designed to help Interpol agents leverage blockchain intelligence and analysis to trace and prosecute cybercriminals using cryptocurrencies such as Bitcoin (BTC) and stablecoins.
Onyekelu emphasized that cybercrime has evolved beyond traditional fiat currency, with criminals increasingly exploiting digital assets. As Nigeria’s Interpol handles cybercrime requests from international partners, enhancing its capabilities through targeted training is crucial.
Addressing the Evolving Threat Landscape in Nigeria
Adedeji Owonibi, senior partner at A&D Forensics, highlighted the urgent need for this training due to the rising trend of cybercrimes in Nigeria. He pointed out that a significant gap exists between the evolving nature of cybercrimes and the capabilities of law enforcement agencies in Nigeria. Owonibi stressed the importance of bridging this gap to enable law enforcement to effectively combat cybercrimes.
Regarding the recent introduction of the cybersecurity levy, Owonibi argued that while such measures may be controversial, the government has the authority to make decisions impacting national security. He underscored the importance of prioritizing the nation’s security interests.
In addition, the Central Bank of Nigeria (CBN) has mandated banks and other payment service providers to deduct 0.5% of the total value of electronic transactions, remitting it to the National Cybersecurity Fund managed by the Office of the National Security Adviser (ONSA). This move signifies a significant step towards bolstering Nigeria’s cybersecurity infrastructure.
Conclusion
The initiative by Interpol Nigeria to enhance cybersecurity through virtual asset training represents a critical step in addressing the rising wave of cybercrime in the country. By equipping law enforcement with the necessary skills to tackle crimes involving digital assets, Nigeria aims to strengthen its capabilities and foster a more secure digital environment. As regulatory measures continue to evolve, such proactive steps are essential in safeguarding national security and maintaining the integrity of the financial system.
