Emerging realities in our society have glorified, celebrated and romanticized cybercriminals and their proceeds. This ugly and immoral societal acceptance of such criminal tendencies and their proceeds has extended the frontiers of Entrepreneurship due to its elastic nature to what is recently known as Cybercrime Entrepreneurship. Cybercrime Entrepreneurs on one hand, are experienced cybercriminals that sets up centers (virtual and physical) for teaching them while on the second hand, they are successful, experienced and well-connected cyber criminals that set up ventures with enabling environment for less experienced individual to learn and efficiently carry out their criminal activities. This paper presents a review of theories of Entrepreneurship and their validity in understanding the recent disturbing publicity of Cybercrime Entrepreneurs and its subsequent indulgence by teenagers in Nigeria. The theories used are Economic factors theory by Joseph Schumpeter, Psychological factor theory by David Mccleland, Sociological factors theory by Thomas Cochranis and Alert Theory. It was observed that there are significant discontinuities and continuities in the configuration of cybercrime Entrepreneurship and traditional Entrepreneurship. The study concludes that Cyber Entrepreneurship is a function of psychological, sociological, criminological and economic factors and has negative implication to human capacity development of Nigeria. The research recommends amongst others that policy should be enacted to discourage the influx of youth into Cybercrime Entrepreneurship; punishment be explicitly spelt out in the law. Furthermore, government should also try to help our youths by engaging them positively to believe that there is dignity in labour
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