Business
Ballots printing allegations, Superflux threatens legal action, says it’s barbaric
Ballots printing allegations, Superflux threatens legal action, says it’s barbaric
A leading security printing company, Superflux Nigeria Limited, has described as barbaric and spurious, allegations that the company was contracted to print ballots papers by the Independent National Electoral Commission ( INEC) and in the process favoured certain candidates in the just concluded 2023 general elections.
It also frowned at being tagged as conduit for money laundering, siphoning COVID19 funds, saying such allegations are clearly handiworks of mischief makers and traducers who were hell bent to tarnish the reputation of the company before it’s numerous customers and that of it’s former Director, who is presently the Secretary to the Ogun State Government, Mr Tokunbo Talabi.
The company, averred that it’s response became necessary in the interest of the teeming members of the public who have deep trust in it’s longstanding integrity as well as it’s esteemed partners who understand the excellent reputation of the company.
According to the statement signed by the company ‘s Managing Director, Gabriel Okwonko, contrary to dangerous rumour making the rounds about being used to siphon COVID-19 funds, the company generously donated millions of naira to various beneficiaries during the pandemic, in line with the conviction on its corporate social responsibility.
The statement added that a sum of Twenty Million naira was donated to Ogun State, the transaction it said was doctored by mischief makers to look as if money was sent to the company from the state’s purse, wondering why adversaries of it’s former director would come up with such lies for the purpose of blackmail.
The statement read:”To address these absolutely false allegations, obviously being cowardly peddled by faceless fellows, we wish to state as follows:
“Our Company is extremely mindful and jealously guards the responsibility the nature of our business puts on us as a corporate entity in the interest of our esteemed customers and the general public.
“Contrary to the false and malicious allegations making the rounds, we state emphatically that our Company has NEVER and will NEVER be used as a conduit for money laundering or a vehicle for syphoning public funds or any illegitimate funds at all.
“We find the false allegation that our Company retained ballot papers in the 2023 elections for the use and benefit of a particular candidate both disturbing and astonishing; as it is totally false in all ramifications.
“For the records, our Company states categorically that it was not contracted by the Independent National Electoral Commission (INEC), (the agency in charge of electoral affairs in Nigeria with mandates to conduct elections) to print ballot papers for ANY elections during the 2023 electoral period.
“We therefore did not print any ballot paper for for Ogun state and as such the opportunity did not arise. Therefore, the false claim by the pliable section of the media that we produced extra ballot papers and fed a parallel channel is not only baseless and false, but also aimed at achieving sinister purposes.
“We state without fear of contradiction that Mr. Tokunbo Talabi, our erstwhile director resigned in June 2019 to pursue other causes of interest to him and his resignation was accepted by our Board of Directors who wished him well in his endeavors.
“We further find assertions of being used as a conduit for syphoning COVID19 Funds, a fund meant to support and rescue the world at the time of an explosive pandemic that claimed lives and brought businesses as well as daily life to a grinding halt, totally appalling, illogical, barbaric, extremely distasteful and blatantly false.
“In actual fact, our Company as a responsible corporate entity had, despite the low business tempo of the business environment, decided to support various communities and institutions in the fight against the COVID-19 pandemic. As a very humane company and being socially responsible, we have in recent past, embarked on various projects, interventions and donations. One of these is the N20 million donation to Ogun State Covid 19 Funds on April 6, 2020, which the hack writers and their collaborators found convenient to omit because of their evil intention.
“In the same vein, another two million one hundred thousand naira was donated in the same manner and for the same purpose but different beneficiary on April 9, 2020.
All donations made by us were naturally debited in our accounts but, in their mischief, the fake news peddlers presented them as collections/credits.
“We find objectionable, the intrusion into our privacy and we are resolved to ensure that the perpetrators of this heinous crime are brought to book and our legal advisers have been briefed accordingly; and surely appropriate steps will be taken against these criminals.
“Finally, we thank our customers for their continuing support and hereby warn the peddlers of malicious falsehood to desist from circulating these spurious allegations as we shall not hesitate to take legal steps in the interest of our reputation, business and integrity”.
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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