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Newspaper Headlines: Banks involved in 70% of financial crimes in Nigeria, says EFCC

Newspaper Headlines: Banks involved in 70% of financial crimes in Nigeria, says EFCC
March 05
07:00 2024

Reports on the prevailing economic hardship in the country suffuse the front pages today. 

The Punch reports that the organised private sector has warned that the spate of looting of trucks conveying food and raw materials by suspected hoodlums, can lead to a shutdown of industries across the country. The newspaper says the Economic and Financial Crimes Commission (EFCC) said banks are being linked to about 70 percent of the financial crimes in Nigeria.

Daily Trust reports that Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), has warned that Nigeria and other developing countries should be wary of debt risks. The newspaper says Kayode Egbetokun, inspector-general of police, has banned point of sale (POS) operators from police stations nationwide.

The Nation reports that six cities across the geopolitical zones will host discussions on the ongoing minimum wage review. The newspaper says at least 40 million telephone subscribers have been barred from receiving or making calls.

The Guardian says the slow justice delivery system in Nigeria is taking a toll on the country as 198,432 cases are currently pending at the appeal, federal, FCT high and magistrate courts. The newspaper says the Association of Senior Civil Servants of Nigeria has urged the federal government to review recommendations of the Oronsaye report before implementation.

THISDAY reports that Aliko Dangote, Nigerian billionaire and founder of Dangote Group, has named the road leading to his oil refinery after Herbert Wigwe, as a way of immortalising the late banker. The newspaper says Akinwumi Adesina, president of the African Development Bank (AfDB), has disclosed ongoing discussions between the bank and the federal government to provide Nigeria with $1.76 billion in concessional financing to stabilise the economy.

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