Business
Confusion as Driver, Bus Conductor abduct 8 pupils in Ogun
There was confusion in the Ifo area of Ogun State after a bus driver, Akorede Ogunjobi, and his conductor, Kazeem Adelere, were attacked by an angry mob for allegedly abducting eight pupils of Oyes Faithful College, Ifo.
The suspects would have been lynched, but for the intervention of policemen from the state command who took them into custody.
It learnt that 10 pupils of the school had on Tuesday joined the commercial bus marked, AKD-948-XJ Lagos, at the Techno bus stop after leaving the school.
It was learnt that two unidentified men sat beside the driver, while the conductor manned the bus entrance.
After two of the pupils alighted at their designated bus stop, the driver was alleged to have refused to stop for other pupils.
When the pupils indicated that they wanted to alight at the bus stop, the driver was alleged to have shunned their calls and continued speeding on the expressway.
The conductor was alleged to have stood at the bus entrance to prevent the pupils from escaping.
Our correspondent was told that one of the pupils in Senior Secondary School 1, Akorede Aliu, 13, jumped off the bus while on motion.
Some minutes later, another male Junior Secondary School 1 pupil, Ajibose Fawasi, 11, was said to have also leaped out of the bus, leaving behind six female pupils.
A motorist was reported to have blocked the commercial vehicle’s path and forced it to a halt.
A lawyer, Isaac Durowoju, told PUNCH Metro he called the police to rescue the suspects from the mob, adding that injured pupils had been taken to the hospital.
He said, “After two of the pupils alighted at Iya Abiodun bus stop, other pupils observed that the driver took to the fast lane and started speeding.
“When they told the driver and the conductor where they would alight, the two men laughed at them. While on motion, two boys jumped out at different intervals, but the driver refused to stop. This was what aroused the curiosity of a motorist, who blocked him three bus stops from where he should have stopped.”
It was learnt that the two unidentified passengers, escaped from the scene while the suspects were being mobbed.
Our correspondent gathered that the driver and the conductor denied abducting the pupils at the police station.
A source said when queried on why they refused to pull over after the two pupils jumped out of the vehicle, they reportedly pleaded for mercy.
It was learnt that the state commissioner of police, Ahmed Ilayasu, had ordered that the case be transferred to the State Criminal Investigation and Intelligence Department, Eleweran.
A representative of Oyes Faithful College, Mr. Ayodele James, confirmed the incident to our correspondent, adding that the case was with the police.
She said, “The incident happened immediately we closed from the school around 4pm. There was an attempt to abduct some pupils, but a motorist prevented it.”
A parent of one of the affected pupils, Mrs. Olasumbo Olojede, said her daughter, Bisola, told her the driver and conductor wanted to take them to an unknown destination.
The mother added that although Bisola was still in shock, she was doing well.
Korede’s mother, Mrs. Risikat Aliu, said she did not know the extent of his injuries after he jumped out of the vehicle.
“But we give God the glory for the safety of the children,” she added.
The spokesperson for the Ogun State Police Command, Abimbola Oyeyemi, said, “The case was reported by the proprietress of the school around 5.30pm on Tuesday. When the students closed from school, 10 of them boarded a commercial bus. Two of them alighted at their designated bus stop.
“But the driver made an attempt to drive the remaining eight pupils to an unknown destination. It was a Good Samaritan who used his vehicle to block the bus when the pupils started shouting. Two of them even jumped out of the vehicle.
“The case has been transferred to the SCIID, Eleweran, on the order of the CP. At the end of investigation, the suspects would be arraigned in court.”
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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