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

BUA Group, AD Ports Group and MAIR Group Sign MoU to Explore Collaboration in Sugar Refining, Agro-Industrial Development, and Integrated Global Logistics Solutions

Abu Dhabi, UAE – Monday, 16th February 2026

BUA Group, AD Ports Group, and MAIR Group of Abu Dhabi today signed a strategic Memorandum of Understanding (MoU) to explore collaboration in sugar refining, agro-industrial development, and integrated global logistics solutions. The partnership aims to create a world-class platform that strengthens regional food security, supports industrial diversification, and reinforces Abu Dhabi’s position as a hub for trade and manufacturing.

The proposed collaboration will leverage BUA Group’s industrial and logistics expertise, Khalifa Port’s world-class infrastructure, and AD Ports Group’s operational experience. The initiative aligns with the objectives of the UAE Food Security Strategy 2051, which seeks to position the UAE as a global leader in sustainable food production and resilient supply chains. It also aligns with Nigeria’s food production- and export-oriented agricultural transformation agenda, focused on scaling domestic capacity, strengthening value addition, improving post-harvest logistics, and unlocking new markets for Nigerian produce across the Middle East, Asia, and beyond.

Photo Caption: L-R: Kabiru Rabiu, Group Executive Director, BUA Group; Cpt. Mohammed J. Al Shamisi, MD/Group CEO, AD Ports Group; Saif Al Mazrouei, CEO (Ports Cluster) AD Ports Group; Abdul Samad Rabiu, Founder/Executive Chairman, BUA Group; and Steve Green, Group CFO, MAIR Group

Through structured aggregation, processing, storage, and maritime export channels, the partnership is designed to reduce supply chain inefficiencies, enhance traceability and quality standards, and also create a predictable trade corridor between West Africa and the Gulf.

BUA Group—recognised as one of Africa’s largest and most diversified conglomerates, with major investments across sugar refining, food production, flour milling, cement manufacturing, and infrastructure- brings extensive industrial expertise and large-scale operational capability to the venture. MAIR Group will provide strategic support in developing integrated logistics and agro-industrial solutions, creating a seamless platform for production, storage, and distribution.

Abdul Samad Rabiu, Founder and Chairman of BUA Group, said:

“This MoU marks an important milestone in BUA’s international expansion and reflects our long-term vision of building globally competitive industrial platforms. Together with AD Ports Group and MAIR Group, we aim to develop sustainable food production and logistics solutions that strengthen regional supply chains and support the UAE’s Food Security Strategy 2051.”

He further added that, “This partnership represents not just a commercial arrangement but a strategic food corridor anchored on shared economic ambition, resilient infrastructure, and disciplined execution, reinforcing long-term food security objectives for both nations.”

A representative of MAIR Group added:

“This collaboration underscores our commitment to advancing strategic industries in Abu Dhabi and building integrated solutions that reinforce the UAE’s position as a global hub for trade, food security, and industrial excellence.”

A spokesperson from AD Ports Group commented:

“Our partnership with BUA Group and MAIR Group highlights Khalifa Port’s role as a catalyst for high-impact industrial investments. This initiative will enhance regional food security, strengthen global trade connectivity, and support Abu Dhabi’s economic diversification goals.”

This MoU marks a historic collaboration that combines world-class infrastructure, industrial expertise, and strategic vision, setting the stage for a sustainable and resilient food and logistics ecosystem that will benefit the UAE, the region, and global markets alike.

Dollar Scarcity Eases as Elumelu Briefs Tinubu on FX Stability

By George Omagbemi Sylvester | Published by SaharaWeeklyNG 

The Chairman of United Bank for Africa (UBA), Tony Elumelu, has declared that the era of acute dollar scarcity in Nigeria is effectively over, following a high-level meeting with President Bola Ahmed Tinubu in Abuja. According to Elumelu, reforms introduced by the federal government and the monetary authorities have “sorted” the foreign exchange market, restoring liquidity and improving investor confidence.

The meeting took place at the Presidential Villa in Abuja, where Elumelu briefed the President on developments within the banking and financial services sector. Speaking to State House correspondents afterward, the UBA chairman said commercial banks are no longer experiencing the severe foreign currency shortages that plagued the system throughout 2023 and early 2024. He attributed the improvement to ongoing policy adjustments and enhanced coordination between fiscal and monetary authorities.

The development marks a potentially significant turning point in Nigeria’s macroeconomic management. The country has faced persistent foreign exchange instability since mid-2023, when the government liberalised the naira and dismantled the long-standing multiple exchange rate regime. The policy shift, overseen by the Central Bank of Nigeria (CBN), initially triggered sharp currency depreciation, widened arbitrage opportunities and strained dollar supply channels.

Dollar scarcity had profound consequences. Manufacturers struggled to import raw materials, airlines complained of trapped revenues, foreign investors exited local markets, and inflation accelerated as the naira weakened. The crisis was compounded by a backlog of unmet foreign exchange obligations, which the CBN later confirmed ran into several billions of dollars.

Elumelu’s remarks suggest that recent measures (such as clearing portions of the FX backlog, tightening banking supervision and increasing transparency in currency trading platforms) are beginning to stabilise the market. Analysts note that the CBN has also introduced reforms aimed at curbing speculative activities and boosting diaspora remittances through formal channels.

“The true test of reform is liquidity and confidence,” said Professor Pat Utomi, political economist and founder of the Centre for Values in Leadership, in prior commentary on Nigeria’s economic reforms. “If market participants believe the rules are clear and consistently applied, capital will respond.” Elumelu’s optimism appears to align with that perspective, indicating that domestic banks are now able to meet legitimate foreign currency demands more efficiently.

However, economists urge caution. Dr. Bismarck Rewane, Managing Director of Financial Derivatives Company, has consistently argued that exchange rate stability requires sustained inflows, not episodic interventions. “Stability is not achieved by pronouncement,” he noted in a recent economic briefing. “It comes from productivity, exports, and credible monetary discipline.”

Indeed, while official channels may show improved liquidity, structural vulnerabilities remain. Nigeria’s foreign reserves fluctuate in response to oil price volatility, and crude oil production levels (long below OPEC quotas due to theft and infrastructure challenges) continue to influence dollar inflows. Without significant diversification of export earnings, experts warn that gains could prove fragile.

The government’s broader reform agenda also plays a central role. President Tinubu’s administration has implemented sweeping economic changes since assuming office in May 2023, including the removal of petrol subsidies and the unification of exchange rates. These policies were designed to eliminate distortions and restore fiscal sustainability, but they have also contributed to short-term inflationary pressures and social hardship.

In its 2024 Article IV consultation, the International Monetary Fund emphasized that exchange rate reforms must be accompanied by strong social protection measures and credible fiscal consolidation. “A unified and market-determined exchange rate is critical to restoring confidence,” the IMF stated, while urging authorities to protect vulnerable populations from adjustment shocks.

Elumelu’s intervention carries weight beyond symbolic reassurance. As one of Africa’s most prominent bankers and a major investor across the continent, his assessment reflects sentiment within Nigeria’s financial elite. If commercial banks indeed have improved access to foreign currency and are meeting corporate demand without severe delays, it suggests operational normalisation within the banking system.

Yet market participants will look beyond official optimism to empirical indicators: narrowing spreads between official and parallel exchange rates, declining FX forward premiums, improved foreign portfolio inflows, and rising non-oil export receipts. These metrics will ultimately determine whether the crisis has truly abated.

For now, the meeting in Abuja signals a narrative shift from emergency management to cautious stabilization. Whether this transition becomes durable depends on policy consistency, institutional credibility and Nigeria’s capacity to expand its foreign exchange earning base.

As economic historian Niall Ferguson has observed, “Confidence is the cheapest and most powerful stimulus.” The Tinubu administration appears to be banking on precisely that: restoring belief in Nigeria’s economic direction. Elumelu’s declaration that the dollar scarcity is over may be a milestone, but the sustainability of that claim will be judged not by words, but by the resilience of the market in the months ahead.