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1 week ago | 
punchng.com | Solomon Odeniyi |Oluwakemi Abimbola |Ademola Adegbite
The Economic and Financial Crimes Commission has launched an investigation into the alleged N1.3tn frauds perpetrated through a digital investment platform, CryptoBank Exchange. CBEX, operated by a group of foreign nationals in collaboration with their Nigerian partners, reportedly collapsed on Monday, leaving thousands of investors stranded and unable to access their funds.
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1 month ago | 
punchng.com | Sami Tunji |Oluwakemi Abimbola |Josephine Ogundeji |Arinze Nwafor
Nigeria’s inflation rate dropped for the second consecutive month in February 2025, falling to 23.18 per cent from 24.48 per cent recorded in January. However, economists and Nigerians expressed concern over the drop in the country’s inflation rate amid the high cost of essential commodities nationwide.
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1 month ago | 
punchng.com | Oluwakemi Abimbola |Stephen Angbulu |Solomon Odeniyi |Muhammed Lawal |Patrick Odey
The Federal Government on Friday said it would intervene in the leadership crisis of the National Assembly after the suspension of the senator representing Kogi Central Senatorial District, Natasha Akpoti-Uduaghan. “We’re engaging all the stakeholders to ensure that they temper justice with mercy,” the Minister of Women Affairs, Mrs Iman Suleiman-Ibrahim, told State House correspondents during the Meet-the-Press Programme at the Presidential Villa, Abuja.
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2 months ago | 
punchng.com | Sami Tunji |Oluwakemi Abimbola |Arinze Nwafor |Josephine Ogundeji
Financial and economic analysts expect the Monetary Policy Committee of the Central Bank of Nigeria to reduce the benchmark interest rates following the drop in the inflation rate released by the National Bureau of Statistics on Tuesday. The experts also called for a rejig of the country’s economic policies to meet the masses’ yearnings, stressing that though the new inflation rate is lower than the previous figure, the prices of commodities are still very high.
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2 months ago | 
punchng.com | Dirisu Yakubu |Arinze Nwafor |Oluwakemi Abimbola |Josephine Ogundeji
The National Assembly on Thursday passed the 2025 Appropriation Bill of N54.99tn, allocating N14.32tn for debt servicing and N13.64tn for recurrent expenditure covering salaries, overheads, and government operations. Economists and members of the Organised Private Sector commended the government for the budget but expressed reservations regarding how it would be funded.
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2 months ago | 
punchng.com | Oluwakemi Abimbola |Stephen Angbulu |Dirisu Yakubu
Some players in the Nigerian economy have shared different views following the decision of the Federal Government to increase the 2025 Appropriation Bill from N49.7tn to N54.2tn on the back of additional revenues generated by key government agencies. On Wednesday, letters from President Bola Tinubu were read on the floor of the Senate indicating the adjustments in the yet-to-be-passed budget.
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Jan 22, 2025 | 
punchng.com | Oluwakemi Abimbola |Justice Okamgba
Zenith Bank, one of Nigeria’s biggest lenders, has promoted 4,165 employees as part of a major restructuring exercise aimed at rewarding performance and optimising its workforce, sources familiar with the matter told The PUNCH on Thursday. Further promotions are expected in the coming weeks, pending approval from the Central Bank of Nigeria.
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Jan 22, 2025 | 
punchng.com | Oluwakemi Abimbola |Justice Okamgba
Zenith Bank, one of Nigeria’s largest lenders, has laid off several senior staff members as part of a significant organisational restructuring, inside sources said on Monday. The reorganisation also included internal promotions and role adjustments, which benefitted mostly junior staff members, an internal memo dated Wednesday, January 15, 2025, seen by The PUNCH revealed.
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Jan 16, 2025 | 
punchng.com | Abdulrahman Zakariyau |Oluwakemi Abimbola |Henry Falaiye |Gift Habib |Dirisu Yakubu |Chima Azubuike | +1 more
The Nigeria Governors’ Forum has reiterated its strong support for the comprehensive reform of Nigeria’s outdated tax laws and approved a revised Value Added Tax distribution formula, with 50% allocated based on equality. In a communique issued by its Chairman, Kwara State Governor, AbdulRahman AbdulRazaq, the NGF expressed its support for modernizing the country’s tax system.
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Jan 15, 2025 | 
punchng.com | Oluwakemi Abimbola
The Bank Customers Association of Nigeria has said that the banks that were penalised by the Central Bank of Nigeria for not ensuring cash availability via their Automated Teller Machines deserved the punishment. This was disclosed in an exclusive chat with the president of BCAN, Dr. Uju Ogubunka, on Wednesday. CBN sanctioned nine deposit money banks with fines totalling N1.35bn for failing to ensure cash availability via automated teller machines during the festive season.
