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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HOUSE OF REPS ASKS CBN TO WITHDRAW OLD NAIRA NOTES, RELEASE SUFFICIENT NEW NOTES. (PHOTO).

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 House of Reps Asks CBN To Withdraw Old Naira Notes, Release Sufficient New Notes


Nigerian Lawmakers have urged the Central Bank of Nigeria (CBN) to ensure wide circulation of new notes of N200, N500 and N1000 as well as begin a gradual withdrawal of the old notes from circulation.


This call was made after a motion raised by Adam Victor Ogene (LP, Anambra), demanding that the Central Bank of Nigeria (CBN) should kick-start awareness programmes for Nigerians to be aware and prepare for the deadline of December 31, 2024.


Contributing to the discussion, the Labour Party lawmaker recounted the hardship, frustration, controversy and chaotic situation the implementation of the policy earlier caused in 2023.


He added that the scarcity of the new currency notes led to untold hardship in the nation as a result of the CBN’s inability to supply new versions of the changed currency notes.


"Going by the Supreme Court’s subsequent ruling and order, the N200, N500 and N1000 notes shall cease to be legal tender, medium of exchange for goods and services in Nigeria, and shall also cease to be in circulation as from January 1, 2025,” the lawmaker said. 


In 2022, a controversy erupted in Nigeria after the Central Bank of Nigeria (CBN), under the leadership of then-Governor Godwin Emefiele, announced plans to redesign and introduce new versions of three denominations of banknotes: N200, N500, and N1000.


The existing notes were to remain valid until January 31, 2023. 


The move had sparked widespread debate and discussion across the country.


According to Emefiele, the decision was reached due to persisting concerns around the number of naira notes outside the banking system.

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