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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NIGERIA NEEDS SOUND FINANCIAL SYSTEM FOR DEVELOPMENT- BAGUDU. (PHOTO).

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 Nigeria Needs Sound Financial System for development — Bagudu


Minister of Budget and Economic Planning Senator Abubakar Bagudu has said Nigeria needs to attract more resources than it has to fund its development agenda. For this to happen, the nation must develop a sound financial system with integrity


He spoke at the management retreat of the Nigerian Financial Intelligence Unit in Abuja noting that the 2050 Agenda of National Aspiration requires investment at least 100 billion dollars annually to achieve a GDP per capita of $33,000 or more by 2050.


The minister revealed that the current financing level is smaller than that but explained that President Bola Tinubu’s administration had undertaken bold and courageous economic reforms to boost its revenue. 

To buttress his point, he cited the $20 billion federal budget size, which he said was too small compared with other countries like Brazil and Indonesia, which have similar population sizes and have $750 billion and $210 billion budgets, respectively.


The minister explained that Nigeria needs a sound financial system to attract domestic and foreign investments to finance its development plan.


He stated that this was the role of the NFIU, which he said had performed creditably but needed to communicate its activities more effectively for the public to acknowledge.

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