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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NAIRA APPRECIATE SIGNIFICANTLY AMID CBN INTERVENTION. (PHOTO).

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 Naira appreciates significantly amid CBN intervention


The Naira closed the week positively, appreciating marginally against the US Dollar at the Foreign Market amid the Central Bank of Nigeria’s sweeping policy interventions.


Data from FMDQ showed that the Naira appreciated N1,435.53 per US Dollar on Friday from N1461.90 on Thursday.


This represents a 1.8 per cent or 26.37 gain compared to N1461.90 recorded at the close of trading on Friday.


This is the second time the Naira has appreciated marginally in the week under review.


Similarly, the Naira recorded a gain at the parallel Market, which traded at 1,440 per US dollar on Friday from N1,470 the previous day.


In the last four days, CBN, under its Governor, Olayemi Cardoso, has released four policy reforms to wrestle down the free fall of Naira.


CBN also issued a guideline on Wednesday to curb foreign currency hoarding and speculation.


Also, during the week, the bank issued fresh guidelines for International Money Transfer Operators in Nigeria and removed the cap on the exchange rate quoted by IMTOs.


However, the most popular African nation’s currency, the Naira, hiked to N1,435.53 in the week under review from N891.90 per US dollar it traded seven days ago.

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