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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DANGOTE REJECTS CBN'S INTEREST RATE, ASKS FG TO PROTECT EXISTING BUSINESSES. (PHOTO).

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 Dangote Rejects CBN’s Interest Rate, Asks FG To Protect Existing Businesses


Chairman of the Dangote Group, Aliko Dangote, has criticised the hike of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN).


Speaking at the Banquet Hall of the State House, Abuja, during the opening session of a three-day summit organised by the Manufacturers Association of Nigeria (MAN), on Tuesday, he said with the present interest rate regime, it will be difficult to create jobs.


He added that it would also be tough for the manufacturing industry to grow and compete favorably.


Dangote, who also called for new policies that will protect domestic industries, said, “Nobody can create jobs with an interest rate of 30%. No growth will happen.”


He also called on the government to protect existing businesses in the country, especially manufacturers, by providing an enabling environment for them to thrive.


According to him, “We must look to leading countries in the West and the East who are actively protecting their domestic industries.”


Africa’s richest man further likened an import-dependence  to poverty importation.


“Import dependence is equivalent to importing poverty and exporting jobs. No power, no growth, no prosperity. Similarly, no affordable financing, no growth, no prosperity. There is no industrialization without protection Ignoring these facts, is what gives rise to insecurity, banditry, kidnapping and abject poverty,” he said.


At its last Monetary Policy Committee (MPC) meeting, CBN agreed to increase the Monetary Policy Rate(MPR) for the third straight time from 24.75 per cent to 26. 25 per cent.

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