One of the main issues that have been the problem of Nigeria is cybercrime; it has eaten deep to the economy and the heart of the youths. 70% of the youths in Nigeria are into cybercrime and they are more concerned about how to get new ways to advance it than what's going on in the economy. If you think you've heard crazy things wait till you hear teenagers and saying that they to get involved in cybercrime than going to school.
On a norm cybercrime involves using the computer for fraudulent acts, to either harm an individual or a company. But in Nigeria cybercrime isn't just about that alone, it involves posing as someone they are not to other people and scam them for money, selling of properties with fake documents and also creating fake cheque etc. And just so you know it's not quite known as cybercrime but a name they given it which is "Yahoo" or "G".
It has become an issue to the economy in sense that the development of the country should have been more seamless if the youths were really involved but they are more concerned in illegal activities and pay no or less attention to the development of the country. So it has become a hindrance to the economy, that's why the authorities don't take it likely.
It's true that they are no jobs in the country and the youths have to hustle to feed and take care of themselves but they are others ways to do that and even now crypto trading and investment is taking over the world so they too can start doing that. Some are into crypto already while some choose to ignore because they are already addicted to cybercrime while some still balance the two.
"Yahoo" has now become a disease in the country that everyone is talking about it as second option if they don't get a job, things gets hard or don't have anything to do. Kids, teenagers, youths and even adults now get themselves involves because they've seen the lavish lifestyle the ones involved in it are living, so they too wants to experience it and see it as a shortcut.
This act as really played a negative role and impact on the innocent youths in Nigeria and international because of the victims that has fallen prey to the fraudulent activities and other parties now classify all the youths as same and it has also killed our reputation. They tend to hide under the disguise that they are using their brain to work not really causing harm and those that fall victims are not smart and that’s their bad luck.
What causes this illegal activity to be rampant is not because the youths loved it even though some has but because of the economy’s problem itself and some of the problems we face in the economy are;
Poverty; average youths in Nigeria come from a very poor or average background that are struggling to meet ends meet, so the parents hardly have time to check on the well-being on the child, instead they focus on how to feed the family and make money. So the kids or youth then also find other means of looking for money and because they know they can’t get a decent job, they go for the ones they can easily get the money and looks like shortcut and that’s illegal activities but in this case cybercrime. The parents will definitely ignore and pay no heed to the activity because they too want the money and they have seen people get rich from it.
Unemployment; this is a common factor not just to average or uneducated youth but also to the ones educated. So many youths have come out with good grades in the university, but due to the economy and government not providing jobs for them, it has made so many of them engage in illegal activities to keep busy and this usually happens when you see and uneducated person living well more that you being educated and with degree, if you have a weak heart, you will tempted to join in the activity.
Corruption in the country, bad governance or government and inability to lead the country has also played a factor to making cybercrime and fraudulent activities go viral in Nigeria. All the government wants is how to embezzle money and fill their pockets, paying deaf ears on the request of the people and ignoring the development of the country.
No laws; There are no strong laws which go against the crime and this has made the youths more confident about committing the crime because they can pay their way out and they won’t spend a minute in jail or held accountable for anything.
The solution to this problem still falls back to the authorities to put in measures and make a proper penalty for those caught for them to face the punishment and do a long time for the mental and physical damage done to others. But this can only take place or happen if the government themselves are responsible and ready to move the economy forward by put its citizen first.
So as a youth too, instead of depending on illegal activities to get rich why not start investing on crypto because that’s the easiest method or form of investment currently on. Make your research too before entering because don’t think because it has gained popularity it’s easy to invest in, which isn’t completely true because in a few years’ time, cybercrime won’t be a go to option anymore as the world is currently evolving.
In promoting a post on economy, I will be promoting @josua1 on his post Lagarde's denial of inflation and its consequences. I liked the part where he said:
Decide for yourself who you trust, go along the way or be skeptical and look for alternatives as far as places, supplies and especially financial investments are concerned, so that you are ready when the system collapses thanks to the Western leaders, who will depose themselves when the time comes and are guaranteed not to save the ordinary citizen from the situation they have created.