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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SUBSIDY REDUCED, NOT REMOVED'- REWANE. (PHOTO).

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Subsidy reduced, not removed’ – Rewane

The Chief Executive Officer of the Financial Derivatives Company, Bismarck Rewane, has said that subsidy was not removed but reduced.

He stated this when he appeared on Channels Television’s on Sunday evening.

During the programme, Rewane also highlighted the effects of the reduction in fuel subsidy and how it has affected Nigerian salary earners.

“At the inauguration, it was said that subsidy was gone but subsidy was actually reduced,” he said.

According to Rewane: “There is the convergence of exchange rates and reducing the windows into one. The consequence of that money has been transferred from consumers to the government.

“Subsidies are reversed taxes; if you reduce them, you increase the people’s taxes and reduce their income. What has happened is that government revenue has increased by 44% between May and June. Money has been transferred to the government but what is the government doing with it?

“The consumers, on the other hand, had a minimum wage, which in dollar terms was 40 dollars in 2002. In 2019, it was about 70 dollars but it has now been reduced to 24 dollars.”

 

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