TheCable

The Nation reports that stakeholders in the Nigerian economy have thrown their weight behind President Bola Tinubu, following his declaration of a state of emergency on food security. The newspaper says Godwin Emefiele, suspended governor of the central bank of Nigeria (CBN), is likely to face charges of illegal possession of guns and live ammunition.

Punch reports that federal government borrowing from CBN hit N25tn in March. The newspaper says organised labour and some economists have faulted the plan by the federal government to transfer N8,000 into the accounts of 12 million vulnerable and poor Nigerians over the next six months, to cushion the effects of the removal of petrol subsidy.

Daily Trust chronicles how Nigerians have found succour in gas-powered generators after an increase in the price of petrol due to subsidy removal. Abba Kabir Yusuf, governor of Kano, has faulted the mode that the FG adopted for the distribution of N500 billion in palliatives for small-scale industries.

Guardian reports that Benjamin Kalu, deputy speaker of the house of representatives, said in the last two years, about N4 trillion has been lost to the sit-at-home order in the south-east. The newspaper highlighted that CBN limits bank executives’ tenure to 24 years.

Sun reports that the Economic and Financial Crimes Commission (EFCC) arrested an ex-cybercrime convict and 54 others, in a major bust in Ibadan. The newspaper says 80 suspected cultists were arrested in 4 months in Lagos.