Business
47-year old Supervisor defiles 2-year old Pupil at Chrisland School in Lagos
A supervisor at Chrisland School in Lekki, Lagos, Adegboyega Adenekan, was on Monday arraigned at an Ikeja High Court for allegedly defiling a two-year-old pupil in his care.
The Supervisor, 47, pleaded not guilty to a charge of defilement of a child.
The Prosecution, led by Titilayo Shitta-Bey, the Lagos State Director of Public Prosecutions, said Adenekan committed the offence sometime in November 2016 at Chrisland School at Victoria Garden City, Lekki, Lagos.
Shitta-Bey said: “The defendant defiled the complainant by having unlawful sexual intercourse with her.
“The offence violated Section 137 of the Criminal Law of Lagos State, 2011.”
The alleged defilement was reported to the Lagos State Domestic and Sexual Violence Response Team for investigation.
The parents of the victim were present in court.
However, following Adenekan’s not guilty plea, his lawyer, Olatunde Adejuyigbe (SAN), requested that the school supervisor should maintain the bail granted to him by the Magistrates’ Court in December, 2016.
Adejuyigbe said: “The defendant was admitted to bail by Chief Magistrate Osunsanmi on December 1, 2016.
“The essence of an application for bail is to ensure that defendant stands trial.
“The state has concluded its investigations in the matter, interference by the defendant or witnesses will not arise.
“The defendant does not have a criminal record, he has been attending court proceedings and he came to court this morning voluntarily, despite being informed that he will be arraigned.
“The same sureties (his former colleague and father-in-law) that were approved by the magistrates’ court have expressed willingness to continue and they are present in court.”
The DPP, however, opposed the SAN’s bail application.
Shitta-Bey said: “The gravity of the offence will make the defendant to have an urge to flee.
“Bail is discretionary and I urge your lordship to remand him in prison custody.”
The Judge, Justice Sybil Nwaka, to determine Adenekan’s eligibility for bail, interviewed him in the open court.
The school supervisor told the judge that although on leave, he was still employed by Chrisland School and was currently tutoring children privately to sustain himself financially.
He said: “I still work there (Chrisland School) but I was asked to go on leave pending the outcome of this case.
“I was initially being paid my salary but it was stopped last year.
“I presently do some private tutoring to sustain myself.”
Nwaka queried why parents allowed him get close to their children considering the grievous charge against him.
Responding, Adenekan said: “The private home tutoring I do is under the supervision of the parents and their domestic staff.
“Their (the parents) reaction to the charge I’m facing is that they will stand by me because they all know me.
“This is a profession that I have been in since 1996.
“I have trained children by the grace of God long before this charge.
“I tutored them and they have turned right.
“I was so shocked when this woman (the complainant’s mother) called me and said this happened.
“The parents’ reactions are: ‘Mr Adenekan, we are ready to support you because we know you.’”
Nwaka in a ruling ordered that Adenekan should maintain the bail granted him by the magistrates’ court.
The judge ruled: “The purpose of bail is to ensure that the defendant comes to court and it is discretionary.
“This defendant I’ve been told has been coming to court on his own volition.
“I have no evidence before me that the defendant will jump bail.
“The sureties who stood for him at the magistrates’ court are present in court.
“The defendant is to remain on the bail granted to him by the magistrate court.”
Nwaka adjourned the case to February 6 for trial.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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