Nigeria faces massive domestic Internet crime.
Nigeria addressed the issue of Internet fraud, and its domestic loss is 127 billion naira annually.
That number translates to more than $414 million USD, a staggering figure for this African nation of 93-plus million Internet users.
Internet fraud was perpetrated on “foreign domain names” and that means extensions such as .COM, .NET and others, but .NG is catching up.
NiRA President, Sunday Folayan, said that NiRA had received over 300 complaints on issues of Internet abuse, ranging from domain name abuse, to theft of individual personal details and other financial fraud.
Dot .NG is Nigeria’s ccTLD, managed by NiRA, a not-for profit registry organization established by the National Information Technology Development Agency.
According to the report, NiRA, over the years, has been embarking on various initiatives aimed at making the use of .NG domain names more popular, as opposed to “foreign domain names” such as .com, .uk and .net.
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I’ve never invested in a .NG, but now that I’ve read this, I think I may set some time aside later in the week to research some of the comparable statistics. Not to invest in it, but more to wrap my head around how they are primarily being used/developed.