Business
Chaos as Hausa teenagers attack school in Lagos, attack principal, steal N1.5million
Pandemonium broke out at the Lagooz Schools on Omotoye Estate in the Orile Agege area of Lagos State after some hoodlums invaded the school premises.
it was learnt that some Hausa teenagers, numbering about 100, stormed the school with machetes and other weapons.
They were said to have attacked the school’s principal and a teacher, identified as Uncle John, during a free-for-all which lasted for about two hours.
Our correspondent was told that the rampaging youths, aside damaging some property of the school, allegedly made away with N1.5m.
Policemen from the Elere divison, operatives of the Special Anti-robbery Squad and some members of the Oodua People’s Congress, were said to have repelled the attack as residents fled the area.
Our correspondent was told that seven of the hoodlums were arrested, while others escaped after SARS operatives opened fire on them.
A resident, who spoke on condition of anonymity, said trouble started when the school finished its valedictory service party on Saturday, but the teenagers refused to leave the school premises.
He said, “They were actually relatives of some of the school-leavers. The valedictory service party ended around 5pm, but they refused to leave. A teacher, Uncle John, tried to force them out. One of them abused the teacher and ran away.
“The teacher, who was embarrassed by the abuse, held one of the Hausa teenagers. There was a struggle between them. As the teacher hit the man, he also fought back and held the teacher by the neck, almost strangulating him.
“The principal, who wanted to settle the fight, was held by the tie by one of the intruders and beaten up. The principal’s brother, who wanted to rescue him, was given a fist blow in the eye.”
Our correspondent was told that the teenagers damaged about four dozen of the chairs used for the party. Three of them were later apprehended by the school.
Those apprehended were reportedly held hostage in a classroom, while the others wreaked havoc on the school premises.
A source told PUNCH Metro that the apprehended teenagers, however, mobilised more gang members into the community on the telephone.
He said, “Those boys had their phones and they started calling their friends, who trooped into the school with cutlasses and weapons.
“Policemen at the school’s gate prevented them from gaining entrance as they shot into the air. The hoodlums, however, grew in number, which overwhelmed the security agents.
“Despite the gunshots, the teenagers refused to go. In fact, while some of them knelt, others prostrated and were begging the police to shoot at them. They were saying, ‘Please shoot us; we want to die’.”
It was gathered that some OPC members later came out with weapons and engaged the hoodlums.
The proprietor of the school was reported to have called for reinforcement from SARS operatives, who stormed the community.
“The SARS operatives started shooting into the air. They chased the teenagers and arrested seven of them. They also seized their motorcycles and recovered some of the weapons they brought,” another source said.
It was learnt that some Hausa leaders had visited the school and held a truce meeting with the management.
The Proprietor of the school, Chief Yomi Otubela, said it was only a minor disagreement among pupils of the school.
He said, “The issue was about some teenagers who had issues with themselves on where to park their cars. The police that were on duty at the school gate actually mediated. No school property was damaged; nothing happened during our valedictory service.”
But the Police Public Relations Officer, SP Dolapo Badmos, confirmed the attack, adding that seven suspects had been arrested.
She said, “Some hoodlums entered the school’s premises and destroyed some property. They allegedly made away with N1.5m.
“Our operatives from the Elere divison were contacted and they swiftly moved in and arrested seven of the suspects. The suspects have been handed over to the Area G headquarters for further investigation.”
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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