Nigerian newspapers review: Banks raise lending rates for top borrowers despite CBN cuts

In today’s Nigerian newspapers review programme, Today in the News, Vanguard leads with banks raising lending rates for the biggest borrowers despite the Central Bank of Nigeria (CBN) lowering interest rate. Another headline features civil servants, under the aegis of Joint National Public Service Negotiating Council (JNPSNC) defending the N70,000 transportation allowance agreement reached between the federal government and organised labour, insisting that the rejection of the deal by the Trade Union Congress of Nigeria (TUC) would not affect its implementation.

Vanguard also reports that the General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, faulted media reports linking a placard he carried during a prayer walk to former President Goodluck Jonathan’s administration. Moving to another newspaper, The Guardian reports that the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, accused President Bola Tinubu’s administration of piling up debts without delivering meaningful improvements in the living conditions of Nigerians.

The Punch leads with the Federal Government vowing to crack down on inflated public contracts and procurement violations, and warning heads of government-owned agencies, corporations, councils, authorities and commissions that they risk sanctions for breaching procurement regulations. Lastly, The Nation leads with President Bola Tinubu’s re-election bid getting a big boost at the weekend with endorsements from Anambra State Governor Chukwuma Soludo, Kano State Governor Abba Yusuf, Minister of Works Dave Umahi and Deputy Senate President Barau Jibrin among others.