Experts warn that cybercrime costs the world over 10.5 trillion dollars annually. During the 2026 Data Privacy Summit in Lagos, they emphasized the importance of protecting personal data. Akano from New Horizons compared cybercrime’s scale to a major economy, stressing that data security is vital for survival. He warned that misuse of data, especially in healthcare, could be dangerous and urged caution when sharing personal information online.
Smith of DKIPPI highlighted that privacy is now essential, not optional. He explained that without privacy, data can be used for manipulation and control. Laws like Nigeria’s Data Protection Act help, but a culture of privacy is needed across all sectors. Both experts agreed that privacy safeguards, ethical practices, and continuous education are crucial to ensure trust and innovation in Nigeria’s digital future.
