Business

Celestial Prophet defrauds business woman of over N70Million in Lagos

Published

9 years ago

May 2, 2017

A prophet with a white garment church, simply identified as Femi, has been arrested by the Special Fraud Unit, Milverton, Ikoyi, Lagos, for allegedly collecting N70 million to treat a businesswoman who was diagnosed with fibroid. Femi was arrested after the businesswoman’s husband lodged a complaint over allegation that the prophet had threatened to kill him and inherit his property.
The businesswoman had been diagnosed with Fibroid for 14 years, and had been running from pillar to post, to find a cure for her ailment. After she was introduced to Pastor Femi, he promised to cure her.

“A notable Nigerian, who was living in peace with his family before the prophet came into their lives, had reported a case of swindling of his wife, consequent upon which we began investigation.

“Facts of the matter is that wife of the prominent Nigerian was having medical challenges as she was suffering from fibroid. The woman met a female trader, who introduced her to Prophet Femi of a Celestial Church in Oke-Ira, Ogba, Lagos.

“The prophet assured her that he would be able to handle the situation.” Lamorde, who was represented by SP Ngozi Braide, said.

“They charged the woman N98,000 fee, which she paid and Prophet Femi gave her some herbs, which stopped the bleeding for a while.”.

“When the bleeding started again in 2014, she went back to the prophet, who brought in a new twist to the matter.

“He hypnotised the woman and convinced her that her husband was responsible for her problems. Prophet Femi went further to convince the woman that her husband was also after her children’s lives, accusing him of being a cultist.

“He went further to tell her that the bleeding was the source of her husband’s money. That the more it flowed the richer the man would get

“The woman was asked to bring money for sacrifices and rituals, which she paid into the prophet’s account. She also built a five bedroom duplex at Ojokoro area of Lagos and another in Ado-Ekiti for the prophet, upon his request.

“The prophet also warned the woman to stop sleeping with her husband and instructed her and her children to bring 70 percent of the money her husband gave to them monthly to him.

“For three years the prophet would come and sleep in the man’s house, without his knowledge. There was a time he allegedly gave the woman’s only son a concoction to drink and he started behaving like a mad person.

“He took him (son) to Ekiti, gave him something to drink and he became normal again.”

The sham was discovered when one of the victim’s children, who came visiting from London, reportedly paid N20 million into the prophet’s account. She felt something was not right, so she reported the matter to her father, who confronted his wife. His wife broke down and confessed that she had been giving money, cars etc. to the prophet.

When the prophet realized that his ruse may have been exposed, he fled to Ekiti, from where he was arrested.
Braide displayed the monetary transactions between the business woman and the prophet and said:
“After his arrest, we discovered that one of his accounts read over N70 million, which was paid in by the victim. “We learned that the prophet has two other accounts. Preliminary investigation showed that the suspect had collected a chieftaincy title in Ekiti with the money.

“Also recovered were a Toyota Highlander 2014 Model and a Lexus GX 470 2014 model, which were bought for him by his victim. The suspect did not deny all the allegations against him.

“He proudly told us that he is a prophet and a native doctor. He told us that he helped the woman and uses brain to collect money from her, since the family is wealthy. “We have decided to bring this to the public domain to warn people about fraudsters, who hide under churches as prophets or pastors.

We have saved this man (husband of victim) from death as that would have been the next plan.”

Business

Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

Published

3 days ago

February 19, 2026

Sahara Weekly

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.

The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.

The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.

Bank

Alpha Morgan to Host 19th Economic Review Webinar

Published

5 days ago

February 18, 2026

Sahara Weekly

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.

Business

GTBank Launches Quick Airtime Loan at 2.95%

Published

5 days ago

February 17, 2026

Sahara Weekly

GTCO increases GTBank’s Paid-Up Capital to ₦504 Billion

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