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

-
Image
 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...
Post a Comment

BLOOMBERG PREDICTS NAIRA WILL RECORD WORST PERFORMANCE IN 25YEARS IN 2024.(PHOTO).

-


Bloomberg predicts naira will record worst performance in 25years in 2024

Bloomberg, a US-based media organisation, on Friday, predicted that the naira will decline further in 2024.

According to the publication, the naira is poised for its worst year since the return to democracy in 1999 adding that analysts are predicting further depreciation in 2024.

The report said naira fell 55 percent this year to N1,043 per dollar at the official market on Thursday.

The decline, Bloomberg said, made the naira the third worst-performing currency in the world behind the Lebanese pound and the Argentine peso — among 151 currencies tracked by the media firm.

It reported foreign reserves in Nigeria are at the lowest in six years with most of them burdened by overdue short-term overseas obligations.

In the non-deliverable forwards market, according to the report, the naira’s 12-month contract is trading near a record low of N1,294.44 to the dollar.

The depreciation began in June 2023, after the Central Bank of Nigeria (CBN) unified all segments of the forex exchange (FX) market, allowing the currency to trade more freely. 

Thereafter, President Bola Tinubu scrapped the petrol subsidy.

The publication said the end of the petrol subsidy and naira depreciation fueled inflation, which is at 28.2 percent, while the benchmark interest rate is at 18.75 percent.

“The negative real interest rate has dissuaded overseas investors,” the report said.

Vetiva Capital Management Ltd told the publication that the naira may depreciate further unless Tinubu’s government attracts international investments or ramps up oil output.

Bloomberg’s prediction is at variance with that of Bismarck Rewane, chief executive officer, who said Nigeria’s exchange rate is expected to rise in 2024.

Olayemi Cardoso, the apex bank governor, also projected that exchange rate pressures are expected to reduce significantly in the coming year.

 

Comments

Post a Comment

Popular posts from this blog

INNOSON GIVES OUT BRAND NEW IVM G5 AND SALARY FOR LIFE TO THE MAN WHO PROPHESIED ABOUT HIS VEHICLE MANUFACTURING IN 1979.(PHOTO).

-
Image
Innoson Gives Out Brand New IVM G5 and Salary For Life To The Man Who Prophesied About His Vehicle Manufacturing In 1979.  Last Saturday, July 22nd the Chairman of Innoson Vehicle Manufacturing Company Ltd, Chief Dr Innocent Ifediaso Chukwuma OFR gave out a brand new Innoson IVM G5 to Mr Ikechukwu Osakwe popularly known as Osabros who prophesied to him in 1979 that he would be the first man in Africa to manufacture vehicles and sell to different African countries.  The prophecy was given at the period the then Innocent Chukwuma could not boast of a car, talk less of manufacturing one. According to Dr Chukwuma during the presentation of the car, he recalled on how Mr Ikechukwu Osakwe all the way from Kano blocked him at the front of his house early in the morning and told him he has a message for him.  Mr Osakwe went on to narrate a dream he had about him, how he saw in the said dream his vehicle manufacturing company known as CAP PLC. "He told me that CAP means Chukwuma ...
Read more

SHAKIRA COVERS WOMEN'S HEALTH MAGAZINE,APRIL ISSUE.

-
Image
             Gerard Pique,welcomed their first child into the world last year January.Shakira told the magazine that ''I think it takes two to keep it passionate in relationships,a lot of laughter and a lot of fun moments together,that's essential but also affinity,you know.You have to be compatible.I'm really happy where i am right now,with the person that i'm with right now.He seems to want the same things i want,and that's very important''.More pictures below.                                                                                                                    
Read more

SSANU, NASU THREATEN STRIKE OVER WITHHELD SALARIES. (PHOTO).

-
Image
  SSANU, NASU threaten strike over withheld salaries The Joint Action Committee of the Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Educational and Associated Institutions have threatened to disrupt industrial peace in universities should the government fail to release the withheld salaries of members. The salaries were seized by the administration of former President Muhammadu Buhari during their strike in 2022. The unions, in a joint letter signed on Friday by the President of SSANU, Muhammed Ibrahim and General Secretary of NASU, Peters Adeyemi, questioned the rationale with which the government released four months withheld salaries to members of the Academic Staff Union of Universities but failed to release the withheld salaries of non-academic staff. The unions noted that they would no longer be able to assure the government of industrial peace in universities should the amounts owed by the government are not released. Earlier, the uni...
Read more