Business
Court remands serial blackmailer in prison over attack on Sterling Bank Staff
Staff of Sterling Bank, especially those who were made fair game for attack by ‘dubious’ blogger, Tega Oghenedoro alias Fejiro Oliver, are now heaving a sigh of relief. The blogger, who writes using pseudonyms, was arraigned and remanded in prison custody in Lagos for cyber stalking.
In 2014, Oghenedoro was arrested at the Abuja Airport by the DSS for attempting to extort N50 million from the governor of Niger State. The ‘blogger’ was a staff of Nigeria Television Authority (NTA) in Asaba as a camera man, when he used a pseudonym to demand N50 million from the Niger State government as a condition for dropping a juicy story on the governor.
After the news of Oghenedoro’s detention broke last Friday, a Facebook user familiar with his mode of operation, Obiri Ebilade, wrote on the blogger’s wall: “Many days for the thief, one day for the owner. I think hand don touch Oliver Fejiro, the serial blackmailer.” Ebilade is the former president of the National Association of Delta State Students (NADESSTU).
Before his arrest and arraignment in court, Oghenedoro and his accomplice, Dennis Ukpabi, a disgruntled former staff of Sterling Bank, used the controversial Secret Reporters Blog to publish libelous stories about his former colleagues. Ukpabi’s leverage was knowledge of the details of a 2014 fraud investigated by the bank which led to the sack of a member of staff responsible for the crime.
Ukpabi, who departed the bank unceremoniously over petty squabbles with some of his colleagues, allegedly contracted the services of Oghenedoro to inflict maximum damage on his perceived enemies in the bank. Oghenedoro swung into action by publishing vicious and slanderous stories about Ukpabi’s perceived enemies on the payroll of Sterling Bank using his online platform. He was later arrested and remanded in prison custody.
Immediately after Oghenedoro’s recent arrest, his associates blamed the former governor of Delta State, Chief Emmanuel Uduaghan, for his ordeal. Truly so, Uduaghan had petitioned the Inspector General of Police, Ibrahim Idris, alleging intimidation and threats from the person of Oghenedoro alias Fejiro Oliver.
Ukpabi and Oghenedoro were arraigned before a Federal High Court in Lagos last Friday for acts punishable under the provisions of Section 24 of the Cybercrimes (Prohibition and Prevention etc.) Act, 2015.
The first charge read, “That you Dennis Ukpabi and Tega Oghenedoro between 1st – 13th February, 2017 in Lagos within the jurisdiction of Federal High Court, conspired together to commit felonies, namely, knowingly and intentionally sending intimidated, hatred, insulting and needless anxiety messages and thereby committing an offence punishable under section 27 (1) (b) of Cybercrime (prohibition, prevention etc. Act 2015).”
Another charge read that the accused sent offensive messages to Desalu, Busola Awosile, Nyenke and Adeyemi Odubiyi, which are said to be ‘’punishable under section 24 (1) (b) of Cybercrime (prohibition, prevention etc. Act 2015.’’
Dennis Ukpabi and Tega Oghenedoro however pleaded not guilty to the charges. But the prosecution counsel, Mr. J. Oloruntoba, asked the court to remand the defendants in prison custody.
Frantic efforts were made by lawyers representing the two defendants; Mrs. Kitan and Mr. Inibehe Effiong, to persuade the court to admit them to bail. Effiong, who is an associate of Oghenedoro, informed the court that the defendants were accosted by the police and arraigned surreptitiously without proper and adequate notice. Effiong, a self-styled human rights activist, was also his lawyer in the 2014 extortion case with Niger State government.
The trial judge, Justice Mohammed Idris, asked the defendants’ counsel to bring a formal application for bail and promised to hear it expeditiously.
The judge remanded them in Ikoyi Prisons.
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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