Within the last decade, the use of the Internet in Nigeria has grown sornrapidly with the explosion of Internet Service Providers (ISPs), Internet cyberrncafés and access points. This has had several positive impacts on the social,rneconomic and educational sectors in the country. Unfortunately, the country’srnimage has also suffered as a result of the nefarious activities of somernNigerians, who instead of utilizing the Internet for constructive purposes;rnturn it into a cheap channel for the perpetration of criminal activities. WithrnNigeria venturing into cashless society, there is a need for cybercrimes menacernto be minimized if not completely eradicated. This paper seeks to find out therncurses of the scourge in cybercrimes, its effects on the economy and how torncombat the evil. We adopted an expo factor descriptive methodology in thernresearch. We found that Cybercrime involves using computers and Internet byrnindividuals to commit crime. Cyber terrorism, identity theft and spam arernidentified as types of cybercrimes. The study identified some of the causes ofrncybercrimes to include urbanization, unemployment and weak implementation ofrncybercrime laws. The effects of cybercrimes on organizations, the society andrnthe country in general include reducing the competitive edge of organizations,rnwaste of production time and damage to the image of the country. We recommendrnthat firms should take reasonable steps to protect their IT infrastructure likernNetworks and computer systems; government should assure that cybercrime lawsrnare formulated and strictly adhered to and individuals should observe simplernrules by ensuring antivirus protection on their computer systems.