Abstract

The rapid advancement of artificial intelligence has brought about significant positive changes across various sectors. However, it has also created new opportunities for cybercrime. Nigeria, in particular, has witnessed a surge in cybercriminal activities, which have had severe economic and social consequences. The paper explored the relationship between AI, cybercrime, and the underground business economy in Nigeria, focusing on the rise of fraud, identity theft, and hacking. It discussed the ethical implications of AI, cybercrime, and the underground business economy, highlighting potential risks to privacy, security, and social trust, while emphasizing the ethical responsibilities of AI developers, policymakers, and stakeholders in mitigating these risks and promoting responsible AI use. The Igwebuike ethical theoretical framework was employed for the evaluation of cybercrime, and the thematic and analytical methods of inquiry were used. The paper submits that there is need for an ethical response to the challenges posed by cybercrime in Nigeria.