Business
Edo North, Central traditional rulers fault installation of Pere of Olodiama in Gelegele
From Omoregie Elvis, Benin
Traditional rulers in Edo North and Central have faulted the
installation of Pere of Olodiama in Gelegele, by the Ijaws living in
Ovia North East Local Government Area of Edo State calling it an act
of sacrilege.
His Royal Highness, Zaki Aidenojie Ehidiamhen I, the Enogie of Opoji,
expressed his resentment when he led other traditional rulers in both
Edo North and Central to the Palace of the Benin monarch in solidarity
of the people of the Benin kingdom on Tuesday.
The Enojie of Opoji and vice chairman, Edo State Traditional Rulers,
said they were against the decision of the Ijaws living in Gelegele
to instal their own king in the area as there can never be two kings
in Edo South.
“We the Traditional rulers from Edo North and the Edo Central, we have
gathered here to add our voice to that of the state government, the
Benin Traditional Council and those of them from Edo South who are
opposing the wrong move of the Ijaws”, he said.
He said the Portuguese gained access to Benin through the Gelegele and
even when the Benin was under western region, Gelegele was still part
of Benin and never a kingdom of its own.
Ehidiamhen I said if the Ijaws in Gelegele had wanted a chief, they
should have written to the Oba of Benin for one adding that the Oba in
his magnanimity could have sent them a duke.
“The Oba has the power to even appoint a duke in Gelegele as done in
other areas. If they have wanted a chief, they have done well and they
have come to the Oba, plead with him, of course he can decide to give
a chieftaincy title of Benin Kingdom to that Gelegele because it is
part of his kingdom. He has the power to send his dukes there or his
Enigies.
“It is never heard that somebody Pere from another kingdom from
Bayelsa or Delta to provoke himself to go to Edo State and crowned a
king in another man’s kingdom. I think it was an abomination.
“In 1955, an Itsekiri man, the late Okotiebor who was the minister of
finance in the first republic was made the Adolor of Benin kingdom. He
is an Itsekiri man. He may answer Pere or Olu of Benin. So, I think
the Oba has the power to give any title to whom he deemed fit”, he
said.
The Enojie of Opoji commended the Benin monarch and the state
government for the way and manners they have handled the matter since
the issues of the installation of the Pere began while also calling on
the state government to take a step further to order for the arrest of
those behind the installation.
“I must commend the Oba and the Benins for the maturity that His
Majesty have used in calming down situation and if not, there would
have been arson and serious problems would have come out.
“I also appreciate the governor of the state for their timely
intervention but I think they should not stop there because the Pere
and the elders in council should be located by the law enforcement
agents and the man that wanted to receive crown should be invited and
prosecuted”, he said.
The traditional of Opoji said it was misnormal for anybody to address
Gelegele as part of Beylsa or part of Delta State. The state governor
of Beyelsa and Delta should be countered by the Edo State governor to
tell them to maintain peace and should remain in their territory and
not transpassing into Edo State.
HRH, Razaq Ogiefoh III, the Enojie of Ewu said the installation of
Pere of Olodiama in Gelegele was the usurping of power by the people
of Ijaws which must be condemned in its entirety.
He said majority of those who are traditional rulers elsewhere have
their roots from the Palace of the Benin Kingdom adding that it would
be suicidal for a traditional ruler elsewhere to call himself a King
in Benin Kingdom
He said from history, there has always been one traditional ruler in
Benin Kingdom which is the Oba of Benin
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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