Nigerian Newspapers September 23: Interest Rates, UNGA, 2027 Election, Others

Newspapers in Nigeria report on a variety of issues from the Economy mainly the outcome of the 307th Monetary Policy Meeting, Issues surrounding the preparation for the 2027 elections, others on the fallout of the death of 37 suspected illegal miners in the custody of the Nigerian Security and Civil Defence Corp in Minna Niger State with the setting up of an investigative committee by the Federal Government.

Other issues also feature prominently in the newspapers including hints of rumbling within the ranks of the Nigerian Democratic Congress.

1. The Nation in one of its lead stories on its front page reports on the outcome of the 307th Monetary Policy Meeting and the interest cut by the CBN to 23% from the former 26.5%.

The Central Bank of Nigeria (CBN) yesterday announced a major cut in the nation’s underlying interest rate benchmark, reducing the Monetary Policy Rate (MPR) by 350 basis points from 26.50 per cent to 23.00 per cent.

The apex bank said the decision was taken to make monetary policy framework more effective and in line with the country’s stable macroeconomic fundamentals.

At the end of its 307th policy meeting yesterday in Abuja, the 11-member Monetary Policy Committee (MPC) of the CBN voted to reduce the MPR by 350 basis points, adjust the Standing Facilities Corridor around the MPR from +50 and -450 basis points to +50 and -300 basis points. It voted to hold other parameters unchanged.

The committee retained the Cash Reserve Requirement (CRR) at 45 per cent for deposit money banks, 16 per cent for merchant banks and 75 per cent for non-Treasury Single Account (TSA) public-sector deposits. Liquidity ratio remained unchanged at 30.0 per cent.

The MPC, headed by CBN Governor Olayemi Cardoso, is the highest policy-making organ of the apex bank. The MPC traditionally provides monetary policies and benchmarks, which determine the direction of the financial services sector, and the economy to a large extent. Read More in The Nation

2. The Guardian in one of its lead stories reports on the setting up of a ten man independent investigative committee by the Federal Government to investigate the death of 37 suspected illegal miners in the custody of the Nigerian Security and Civil Defence Corps in Minna Niger State.

Minister of Interior, Olubunmi Tunji-Ojo, inaugurated the committee on behalf of the Federal Government.

The Federal Government has inaugurated a 10-man Independent Investigative Committee to probe the controversial deaths of 37 suspected illegal miners in the custody of the Nigeria Security and Civil Defence Corps (NSCDC) in Niger State.

Inaugurating the panel in Abuja yesterday, the Minister of Interior, Olubunmi Tunji-Ojo, said the setting up of the panel, chaired by the Deputy Director-General of the Department of State Services (DSS), Jonathan Kure (rtd), was in line with President Bola Tinubu’s directive to ensure a comprehensive, transparent, and unhindered investigation into the September 17 tragedy.

The minister warned the NSCDC and other relevant stakeholders against tampering with material evidence linked to the death of the 37 miners, warning that anyone found culpable would be appropriately dealt with in accordance with the law.

Tunji-Ojo reiterated the administration’s stance on human rights, noting that the suspension of the Niger State Commandant of the NSCDC and other duty officers covering the arrest, investigation, legal, and guard duties during the incident was the first step towards accountability. Read More in The Guardian

3. The Daily Trust in one of its lead stories stays on the fallout of the court ruling in favour of Nigerian at the International Commercial Chamber in Paris on the Mambilla Hydroelectric Power Project and the denial of bribery by former Attorney General of the Federation Abubakar Malami who was mentioned for his role in the decision to settle the claimant to the tune of $200M.

Former Attorney-General of the Federation (AGF), Abubakar Malami, has said the proposed $200 million settlement with Sunrise Power over the Mambilla Hydroelectric Power Project was negotiated in Nigeria’s interest.

Malami was reacting to findings by an International Chamber of Commerce (ICC) arbitration tribunal, which ruled that the 2020 settlement and its addendum were products of corruption and unenforceable.

The tribunal, in its 616-page final award delivered in Paris on September 16, also found that Malami and Leno Adesanya, promoter of Sunrise Power, reached a corrupt deal over the settlement. It further said Malami acted against Nigeria’s interest in handling the matter.

However, in a statement issued on Tuesday by his Special Assistant on Media, Mohammed Bello Doka, Malami rejected any suggestion that he acted for personal financial gain.

“Malami rejects any suggestion that his official actions were undertaken pursuant to a corrupt agreement or in exchange for personal financial benefit,” the statement said.

The former AGF said the settlement was part of efforts to resolve a long-running dispute that had exposed Nigeria to multibillion-dollar claims and threatened financing discussions for the Mambilla project.

“The governmental calculation was whether an asserted multibillion-dollar exposure, continuing litigation, financing difficulties and delays to the Mambilla project could be brought to an end through a substantially smaller negotiated settlement.

“Whether every term ultimately negotiated advanced that objective is a separate question and must be examined on its own evidence,” Malami said. Read More in Daily Trust

4. Punch in its lead story reports on the ongoing crisis of confidence between FCT Minister, Nyesom Wike, and the Leadership of the Progressive Governors Forum of APC Governors.

Leaders of the All Progressives Congress, including some aggrieved governors, are considering their options ahead of the 2027 presidential election, with some party stakeholders reportedly weighing support for alternative presidential candidates amid concerns over the political activities of the Minister of the Federal Capital Territory, Nyesom Wike.

Sources within the APC, who spoke on condition of anonymity because they were not authorised to comment on the matter, said many party leaders, including some governors, regarded Wike as a potential threat to President Bola Tinubu’s 2027 re-election bid.

Meanwhile, the Peoples Democratic Party National Publicity Secretary, Jungudo Mohammed, in an exclusive interview with our correspondent, urged Wike to support the party’s presidential candidate, Senator Sandy Onor, instead of backing Tinubu, saying his support would help bring the President’s administration to an end.

Reacting, the Tanimu Turaki (SAN)-led Interim National Working Committee’s Publicity Secretary, Ini Ememobong, criticised the ongoing political realignments involving the Wike-backed PDP group, describing those involved as “pretenders.”

Another party source said the APC National Working Committee was awaiting President Tinubu’s position before deciding on its next course of action.

However, political analyst and former President of the Nigerian Political Science Association, Prof. Hassan Saliu, and former APC Organising Secretary, Eze Duru, said President Tinubu needed the support of Wike and state governors to reconcile the various interests within the party ahead of the 2027 general elections.

They added that the ruling party had also depended on support from politicians and groups outside the APC.

5. The Nigerian Tribune in one of its lead stories reports on the ongoing battle against the Lassa Fever outbreak across the country and efforts by the Nigerian Centre For Disease Control, NCDC.

The Nigeria Centre for Disease Control and Prevention (NCDC) has declared that the country recorded 1,086 confirmed Lassa fever cases and 259 deaths across 24 states and 118 local government areas in 2026.

The agency said this in a statement on Tuesday, citing findings contained in its Lassa Fever Situation Report for epidemiological week 36, covering August 31 to September 6, the News Agency of Nigeria (NAN) has reported.

According to the report, 12 new confirmed cases were recorded in week 36, representing a decline from the 18 cases reported during epidemiological week 35 of this year nationwide.

“The new confirmed cases recorded during the reporting week were reported in Ondo, Edo and Kogi states, according to the latest Lassa fever situation report.

“The cumulative figures for week 36 showed that 259 deaths had been recorded among the 1,086 confirmed cases, representing a Case Fatality Rate (CFR) of 23.9 percent.

“The CFR remained higher than the 18.6 percent recorded during the corresponding period in 2025, according to the latest figures released by the disease control agency,” it said.

The agency said 24 states recorded at least one confirmed Lassa fever case across 118 local government areas, indicating that infections had been reported in several parts of Nigeria.

According to the report, 87 percent of all confirmed Lassa fever cases recorded this year were reported in Bauchi, Ondo, Taraba, Benue and Edo states.

“The predominant age group affected by Lassa fever remained people aged between 21 and 30 years, highlighting the continued impact of the disease among young adults,” it said.

The agency also reported that no new healthcare worker was infected during epidemiological week 36, maintaining the number of affected health workers recorded during the reporting period. Read more in The Tribune