No guns or any physical weapons were required.

Just by a click of a button and an estimated 127 billion Naira was lost to internet thieves in Nigeria.

The President of the Senate, Dr Bukola Saraki, made this revelation at Nigeria's first Legislative Stakeholders Conference on ICT and Cyber security on Monday in Abuja.

Saraki, who was represented by Senate Minority Whip Senator Philip Aduda, did not, however, specify the period within which the nation lost such an amount to cyber-crime.

Also Read: Cybercrime: Nigeria Ranks 3rd Globally

He said the loss was indicative of the hole created in the economy by cyber-crime amounting to 0.08% of Nigeria’s Gross Domestic product, GDP.

"It is indeed ironic that while internet penetration in Nigeria is tentative at best, hovering at just over the 90 million mark, a percentage of 47.7, internet-facilitated crime seems to be growing.

"Our cyber borders are very porous, indeed," Saraki said.

He noted that efforts to revive the economy must necessarily include counter-measures to minimise the losses and shore up the country’s cyber security architecture to better prevent these attacks.

Also Watch: Talking Tech With Founder of EchoVC Partners, Eghosa Omoigui