TheCable

The Punch reports that many households in the country are devising strategies to survive the difficult times occasioned by the removal of subsidy on petrol and rising inflation. The newspaper says the Central Bank of Nigeria (CBN) has asked banks and other financial institutions to regularly screen the accounts of politically exposed persons.

The Nation reports that President Bola Tinubu said the financial system under Godwin Emefiele, suspended governor of CBN, was “rotten”. The Nation reports that properties worth millions of naira were destroyed after a flood hit Trademore estate in Abuja.

Daily Trust reports that the removal of petrol subsidy has reduced the purchasing power of many Nigerians. The newspaper says the presidential election petition tribunal has admitted certificates showing Tinubu’s academic and professional records, which were tendered by the Peoples Democratic Party (PDP).

The Guardian reports that the new service chiefs recently appointed by Tinubu have vowed to end the country’s lingering insecurity. The newspaper reports that Nigeria and Ghana have signed a memorandum of understanding to combat transborder crimes.

Nigerian Tribune reports that the naira depreciated by N107 to close at N770/$1 at the I&E window yesterday, while the British pound was sold at N960/£1. The newspaper says a high court sitting in Ondo state has sentenced Ojo Komolafe, a 78-year-old community leader, to death by hanging over the murder of a school proprietor, Taofik Babalola.