This study focuses on the response of the Nigerian criminal legislations to the contemporary phenomenon of economic and financial crimes and ICT as enabler. The study critically examines the adequacies or otherwise of the existing Nigerian criminal legislations, Shariah Penal Code inclusive, to meet the facets of challenges posed by the prevalence of economic and financial crimes and ICT infrastructures as facilitating tools. The continuous legislative and non-legislative measures undertaken by the past and present Nigerian government in response to the growing trend of this menace are highlighted in the study. Since technology has made national borders more permeable, economic and financial crimes are no longer a local phenomenon but a global problem. Thus, the study employed a methodological evaluation of the common themes and varying national and international perspectives that come into play in response to the phenomenon. This study reveals that the existing Nigerian criminal legislations are grossly inadequate to address the prevailing problem of ICT related economic crimes.