Business

EDO GOV SHUTS DOWN DISPUTED OBU MINES, OKPELLA …ORDERS CP TO DISLODGE ILLEGAL MINERS OKPELLA COMMUNITY HAILS DECISION

Published

8 years ago

December 19, 2017

Sahara Weekly

Community drags Edo Govt To ECOWAS Court Over Alleged Land Grabbing

EDO GOV SHUTS DOWN DISPUTED OBU MINES, OKPELLA

…ORDERS CP TO DISLODGE ILLEGAL MINERS

OKPELLA COMMUNITY HAILS DECISION

Citing security concerns arising from the proclamation by the Federal Ministry of mines that illegal mining activities are being carried out at the contentious Obu mines in Okpella, Edo state, the Governor, Godwin Obaseki yesterday shut down the mines until further notice.

The governor said the decision was taken in the interest of peace and tranquility, pointing out that flouting of his order will be met with wrath of the state government.

Consequently, the governor directed the state police Commissioner and the Army Brigade Commander in the state to halt further operations at the Obu mines with immediate effect.

It would be recalled that the ownership of the mines has been a subject of dispute between the Africa’s leading Cement manufacturers, Dangote Cement Plc and Bua Cement, which the Federal Ministry of Mines had asked to vacate the mines because it was an exploiting limestones in the area illegally.

Obaseki made the announcement while receiving in his office Community heads and Chiefs of Ukhomunyio Okpella, whose community is hosting the disputed mines and had come to express reservation at the alleged use of youths as militia to enforce perceived rights to ownership of the mines and thus creating security threat to the peace of the people.

The governor described Okpella as the mineral gem of Edo state and as such mineral resources ought to be a blessing to the people of the state “but regrettably, the situation on ground has degenerated to a security threat and therefore there is the need to nip it in the bud.

“The Federal Ministry of Mines which has authority over the mines has proclaimed that what we have there now is illegal mining and we don’t want break down of law and order. The situation has degenerated badly.

“Those of you were concerned have moved and tried to resolve the matter, we lost two of the people on the road to Benin while on the trouble shooting mission to Benin. We had a meeting in Abuja two weeks ago and we analysed the Obu mines issue.

“Two people cant lay claim to one asset, until the court decides the ownership or the federal supervising agency, the Ministry of Mines says otherwise, I am closing down that Obu mines with immediate effect . because we believe there is globally acceptable way of determining ownership in a contentious matter as this without recourse to self help”

The governor noted that mines is on the exclusive list of the federal government and the ministry said there is illegal mining going on there, “from today there will be no further mining operations in Obu”

The Okpela Chiefs applauded the government decision and declared their loyalty to the state government saying the decision will bring relief to the people who have been living under fear.

Earlier, spokesman of the Okpella Chiefs, Chief Moshood Aliu told the governor that they were in his office to declared their support for the state government’s effort at industrializing the state and for him to intervene in the dispute between Dangote Cement and Bua.

The Community heads disclosed that the youths of the Community are being incited against one another in a bid to enforce perceived right to ownership of the mines, a situation he said generated tension in the area.

Chief Moshood explained that while the location of the mines is not in dispute, what is being disputed is the ownership, Obu mines was in the then Mid West, later Bendel and now Edo state. We are the occupier of the area and we don’t want trouble, the unilateralism and use of youths as militia to enforce ownership right is condemnable.

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

4 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