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

Vanguard reports that Nigerian banks are raising lending rates for their biggest borrowers despite the Central Bank of Nigeria (CBN) lowering interest rates. It also says civil servants are defending the 70,000-naira transport allowance agreement, while Pastor Enoch Adeboye disputes reports linking a placard he carried during a prayer walk to Goodluck Jonathan’s administration. The Guardian reports that Nigeria Democratic Congress candidate Peter Obi accused Bola Tinubu’s government of piling up debt without improving living conditions, while The Punch says the federal government has threatened sanctions for public procurement violations. The Nation reports that Tinubu’s re-election bid received endorsements from Chukwuma Soludo, Abba Yusuf, Dave Umahi and Barau Jibrin.