In an address to the first annual Conference on Cyber Security organized by the Anti-Money Laundering and Cyber Security Coalition of the National Assembly in Abuja, Mr Yar'Adua said having confidence in IT and internet security is crucial to building an "inclusive, secure and global information society", Vanguard reports.
He added that online threats have become increasingly sophisticated since the first computer viruses were reported in the 1980s.
"Today, cyber crime has become an organized syndicate reaping financial rewards and diverse tools to threaten different platforms in various countries. In fact no country is safe," the president said.
According to the 2008 Internet Crime Report from the Internet Crime Complaint Center, Nigeria is the world's third-largest source of online fraud behind the United Kingdom and the United States.