Business
Aregbesola’s Bulletproof SUVs: 5 Questions For Punch Newspaper, By Kikiowo Ileowo
Having fervently followed Punch Newspapers as a neutral observer for the past 10 years, I am amazed by how often they throw professionalism into the dustbin when the state of Osun and Ogbeni becomes the subject.
What axe does the paper have to grind with the government of Ogbeni Rauf Aregbesola? When and how did he offend its management, and why does it often abandon logic and reason in a bid to rope the governor in scandalous issues? It seems Punch Newspapers go out of its way to drag the name and legacy of Ogbeni in the mud anytime the opportunity exists and sometimes deliberately instigate the reading public against him with its captions and banal headlines.
I have read with utter dismay, some stories, articles and features in the Punch where screaming, damning and outlandish headlines against the person of Ogbeni Rauf Aregbesola were used without relevant bylines and contents for the caption. It is as if the Punch relishes sensationalism and personality attacks for pushing its sales, rather than educating the public.
In its latest attempt at ‘investigative journalism’, the paper through a front page article in its edition of 24th September, 2016 with a screaming caption‘Recession: Governors lavish billions of naira on bulletproof cars for selves, wives’claimed that “A security source, who spoke on condition of anonymity, listed the vehicles [owned by Osun Government] as three Mercedes Benz product, a bus, G-Class, and a 4matic and two Toyota Land cruisers. It was also gathered that the state deputy governor, Mrs. Titi Laoye-Tomori, has one armoured Toyota Land cruiser.” Emphasis is mine.
From the report, there is no coherent link between the banal headline and the content. An anonymous source listed vehicles in the government house pool without providing the source and a supposedly credible national newspaper used it as a scoop to malign and instigate public opinion against Ogbeni!
To be sure, Ogbeni had a couple of used bullet proof vehicles long before assuming office as the governor of Osun. These vehicles came as contributions from sympathizers and well-wishers during his campaigns for the office between 2004 and 2010. Whereas Ogbeni had two of such vehicles before the unfortunate ferocious attack against his person and aides at the 2007 Oroki Day Festival in which the lives of himself and driver were threatened with high calibre assault rifle shots, but saved by the armored vehicle conveying them.
On that fateful day, the heart of the driver was targeted and shot at while the head of Ogbeni was equally targeted and shot at. It was the reinforced glasses that prevented direct hits and consequent fatality. The bullets marks are evident on the vehicle till today. His friend and financier Alhaji Hazzan Olajokun was not that lucky, he had earlier been ambushed at Gbongan junction and brutally shot and killed in May 2005. These incidents were well covered and reported by major national newspapers including the Punch.
However, in twisting logic on its head, Punch approached a so-called source without adequate information in his/her kitty to form an erroneous conclusion. Fellow Nigerians, we all should ask Punch newspaper to show evidence of lavish spending on bulletproof vehicles by the Ogbeni. Maybe if the newspaper had stuck to professional ethics, it would have found out that bulletproof jeeps domiciled in the office of the governor belong to him and were presented to him by his financiers between 2004-2010.
Rather than purchase brand new bulletproof vehicles, the state governor in his act of prudency, commandeered his own personal vehicles for use in his official capacity upon resumption as governor.
Despite having access to security vote to purchase a replacement bulletproof vehicle when one of his became faulty, he brought other personal vehicles to use for public work, while diverting his security vote to pay the monthly allowances of the Osun Youth Empowerment Scheme (O-YES) Corp Members monthly allowance.
What I know of the Ogbeni’s administration is that he has refused to hand journalist posted to Osun brown envelopes at the detriment of workers’ salaries, little wonder they seem to always focus their misguided and misinformed intentions towards him.
Unlike many states in the South West, Osun owes two months’ salary arrears, while Ondo where I am from, disgracefully owes upwards of 8- 10 months’ salary arrears. Without being patronizing, Aregbesola has invested heavily in the people that matter, which is why he can freely work amongst his people even without the use of bulletproof vehicles.
What really matters now is for Punch to clear its name, and indeed proof that it is not being used by interested parties to wreck the reputation of Osun’s governor. The punch newspaper must let us know the answers to the following questions;
- Did it double check its source of story and find them to be correct before publishing it as such?
- Why create the impression that the governor took out of the limited resources in the state to buy bulletproof vehicles?
- Why has Punch Newspaper consistently refused to speak to authorised spokesperson of the state government?
- What was Punch’s motive of featuring Aregbesola boldly on the story’s feature image when evidence suggest the governor hadn’t purchased any bulletproof vehicle during his tenure?
- Why the desperate attempt to malign and cause disaffection amongst the peace loving people of the state of Osun with such misleading story?
While we wait for the paper to clear its name on why it refuse to objectively report on Osun, let them from now on contact the right source when seeking government’s opinion on whatever propaganda it decides to engineer.
Quoting an unofficial source for views of the Osun State Government is nothing short of a disservice to the people.
Kikiowo Ileowo wrote in via [email protected]. Engage him on twitter via @ileowokikiowo
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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