Business
Curfew imposed as Clash between Hausa-Yoruba youths claim Lives, Injures many in Osun
No fewer than 10 persons were said to have been killed, while 30 others were injured following a clash between some Hausa and Yoruba youths in Ile Ife, Osun State, on Wednesday.
Vehicles were burnt and vandalised by the rampaging youths, while some houses and shops were set ablaze in the clash which forced some persons to flee their areas.
Our correspondent gathered at the scene that the fight was caused by a Hausa man, who allegedly slapped a Yoruba woman believed to be a wife of a Yoruba driver on Tuesday.
It was gathered that the Hausa man had littered the surroundings of the woman’s shop with papers and she complained against it, which resulted in an altercation.
The woman’s husband was said to have taken some of his colleagues to the scene of the fight and they reportedly beat up the man and some of his colleagues there.
This was said to have infuriated some Hausa youths, who reportedly mobilised themselves and launched an attack on some Yoruba persons at the Sabo area on Wednesday.
They were said to have injured some traders, which made the traders and some drivers to also mobilise against Hausa people their attackers.
There was tension in Ile Ife when our correspondent visited the town. An Armoured Personnel Carrier and a police van were parked at the Mayfair Roundabout while most commercial buses refused to take commuters into the area.
A bank worker told our correspondent on the telephone that all banks in the area asked their customers to leave the banking halls, while their gates were shut to prevent hoodlums from using the opportunity of the clash to loot.
Some Yoruba traders, who spoke with our correspondent in the Sabo area, claimed that Hausa leaders alerted security agencies when the crisis broke out.
They claimed that the security personnel the agencies sent were of Hausa extraction, alleging that the operatives aided Hausa youths to set ablaze vehicles, shops and other property belonging to Yoruba traders.
Two Hausa men, who identified themselves simply as Ibrahim and Nuhu, told our correspondent that Yoruba youths looted and burnt shops belonging Hausa traders in Sabo during the crisis.
Ibrahim said, “They stole our goods and burnt our shops. We don’t know what will happen tonight if this can happen in the day.”
Our correspondent saw smokes billowing from some buildings, while some people were seen running away from the area. They claimed that some Hausa youths were shooting arrows from inside some buildings.
Some Yoruba youths were later seen with guns going towards the epicentre of the crisis, threatening to kill those who “wasted the lives of our kinsmen.”
Parents were seen rushing to various schools to pick their children, claiming that Hausa youths were attacking pupils in some schools.
Some pupils were said to have been taken to the Ooni’s Palace from where their parents went to take them.
Majority of the students taken to the Ooni’s Palace were said to have been rescued from Central Elementary School, Ilare, which is opposite the area where the fight broke out.
A source at the Obafemi Awolowo University Teaching Hospital told our correspondent that some of the corpses were taken to the hospital’s mortuary and some of the injured persons were treated there.
The state Police Public Relations Officer, Mrs. Folashade Odoro, did not return calls to her telephone to confirm the incident.
However, the Public Relations Officer of the Nigeria Security and Civil Defence Corps, Mr. Babawale Afolabi, told our correspondent that men from the command and other security personnel were at the scene to restore peace.
He said, “The NSCDC men are still there and they will remain there to ensure that no fresh clash erupts.”
The Ooni of Ife, Oba Adeyeye Ogunwusi, was said to have sent some emissaries to the crisis area.
The media aide to the monarch, Moses Olafare, said, “Kabiyesi was informed about the crisis on Tuesday and he sent some chiefs to address the situation. The misunderstanding was resolved and everybody thought there was no more war.
“But on Wednesday, we heard that they had started fighting again. Kabiyesi contacted the police, the Department of State Services and other security agencies and they responded swiftly.
“ But before the security agents arrived at the place, some persons had started burning down houses and vehicles. Some Hausa persons were rounded up and taken hostage.
“The Ooni of Ife sent some chiefs to rescue those held hostage. I was in the delegation and we rescued over 1,000 Hausa people and handed them over to the Seriki Hausa. This effort doused the tension. Calm has returned to the troubled zone.”
Our correspondent observed at Moro town that an army officer, some armed soldiers and other security operatives were heading towards Ile Ife around 4pm.
Meanwhile, the Osun State Government has imposed a curfew from 6pm to 7am on Ile Ife in order to prevent hoodlums from using the cover of darkness to unleash fresh mayhem on innocent people.
The curfew was announced on the Osun State Broadcasting Corporation Television.
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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