During an interview at the 2023 Chartered Institute of Bankers of Nigeria annual dinner and award night, Babatunde Obrimah, the Chief Operating Officer of the Fintech Association of Nigeria, emphasized that addressing Nigeria’s cybercrime issue requires a sincere examination of the nation’s value system. The event took place at the Thikadol Event Centre and Hotels on Ring Road in Ibadan, Oyo State.
Obrimah acknowledged that cybercrime is a global problem, not exclusive to Nigeria, attributing it to the “get rich quick” syndrome prevalent in the country.
“Nobody, even Federal Government cannot stop cybercrime. You can’t stop it. But you can reduce the impact by making sure that you do the right things. You can’t stop it because they are also coming up with new solution. As government is trying to block them, they are also looking into how to break into that. Someone sitting in North Korea can hack a bank in Brazil.
Highlighting the magnitude of the problem, Obrimah drew a contrast between traditional armed robberies and modern cybercrimes, emphasizing that cybercriminals can siphon large sums from individuals’ accounts without physical confrontation.
He stressed that addressing the root cause requires a deep examination of Nigeria’s value systems, urging society to question the extravagant lifestyles of public officials and individuals in positions of power.
Obrimah concluded that until there is a genuine effort to address these value issues, cybercrime will persist as a significant challenge, not only in Nigeria but globally.
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“Until we address those value issues with sincerity, it is problem we are going to have. It is not a localised Nigerian problem. It is a global problem. It is just that we have a situation that a young people just see that as an opportunity to get rich quick, buy flashy cars, live in decent part of the city, wear designer clothes, and life is not about that.” He said.
Earlier in the event, Taofik Omotoso, the state branch chairman, explained that the annual gathering aimed to foster camaraderie among banking professionals, providing a platform for idea exchange and preparation for the upcoming year.
The state governor, Seyi Makinde, echoed gratitude for the crucial role played by banks in supporting his administration’s goals. Represented by the commissioner for budget and economic planning, Musibau Babatunde, Makinde acknowledged the essential role of banks in providing necessary resources for developmental projects, emphasizing their consistent support over the years.
He said, “You all know that there is nothing you can do in moving the state forward if the resources are not there for you to utilize. You can have lofty dreams and ideas but if the resources are not there for you to utilize, it will just collapse like a pack of rice. But over the set of years that we have been in government, any time we need to make use of resources for developmental projects in the state, banks are always available, they have been very supportive.”