OVER 25 MILLION PHONES STOLEN IN ONE YEAR- FG. (PHOTO).

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 Over 25 million phones stolen in one year – FG The Crime Experience and Security Perception Survey report of the National Bureau of Statistics, a Federal Government agency, shows that Nigeria recorded 25.35 million phone theft cases between May 2023 and April 2024. According to the report, this was the most common type of crime within the period under review. The report read, “The number of crimes experienced by individuals in Nigeria was analysed over a period of time. The results show that theft of phones (25,354,417) was the most common crime experienced by individuals, followed by consumer fraud (12,107,210) and assault (8,453,258). However, hijacking of cars (333,349) was the least crime experienced by individuals within the reference period.” It also noted that most phone theft cases occurred either at home or in a public place, and about 90 per cent of such cases were reported to the police. Despite the high rate of the incident being reported, only about 11.7 per cent of t...
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CBN TO CLOSE MILLIONS OF BANK ACCOUNTS WITHOUT BVN.(PHOTO).

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CBN To Close Millions Of Bank Accounts Without BVN


The Central Bank of Nigeria (CBN) has announced plans to close millions of bank accounts across various financial institutions that are not linked to a Bank Verification Number (BVN).


Blaise Ijebor, the CBN director of the Risk Management Department and Chief Risk Officer, who disclosed the plan at the Prembly Compliance Breakfast Dialogue on Thursday April 6, said the objective is to clean up the sector and reduce the growing incidence of fraud.


The BVN is a unique identifier that captures the biometric data of bank customers and is used to verify their identities and prevent fraudulent activities.


Analysis of the NIBSS website indicated that there were only 57.01 million registered BVN numbers out of the total 191.4 million bank accounts in the country, with 133.5 million active.


CBN's Ijebor further detailed the importance of closing bank accounts without BVN and highlighted three areas where cybercriminals are exploiting vulnerabilities.


This account is dominated by digital banks or fintech firms, and often lacks BVN linkage, which makes it an easy entry point for hackers.

 

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