Every country has its fair share of security challenges, but when the state of insecurity increases by the day, and then there is a need for urgent action. In Nigeria, the introduction of these three major inventions; the Computers, the Internet and the Mobile telephones gave rise to a huge outbreak of cybercrimes. It could be very evident that criminals and fraudsters leverage the anonymity supplied by means of the Internet to defraud unsuspecting victims. Unfortunately, the current social, economic and political trends have left a sour taste in the mouth of the youths; particularly, those from poor social and economic backgrounds. Notably, cybercrimes are of different categories in Nigeria ranging from; Internet frauds, software piracy, hacking, online scam, ATM or Credit card fraud, virus dissemination, phishing, cyber-stalking, and cyber-defamation. The occurrence of a high rate of unemployment, harsh economic conditions and bad educational systems also contributes immensely to the proliferation of cybercrimes in Nigeria. This paper analyses the adherent effects on the average Nigerian youth and the possible solutions. With Nigeria venturing into the cashless society, there is an urgent need to reduce the cybercrime menace ravaging our dear country.
Key Words: Cybercrime, Cybercriminals, Phishing, Man-In-The-Middle (MITM), Cyber-stalking, Digital Fraud, Internet Fraudsters, Law Enforcement Agencies.