Business
Ekiti partners Ecobank to drive women empowerment, microcredit loans and agency banking
….Holds public engagement with Informal Sector on govt policies
Ekiti State Government has partnered with Ecobank to ensure financial inclusion, women empowerment, micro credit loans and agency banking across communities in the state.
This was disclosed in Ado-Ekiti on Thursday at the maiden edition Se’tigbo (Have You Heard) a public enlightenment programme on Governor Kayode Fayemi’s administration’s policies and achievements.
The programme which began in Ado-Ekiti featured the informal sector of the state, a body comprising artisans, traders and vocational associations. Over eighty trade and vocational associations were represented at the engagement.
Welcoming attendees to the meeting, which held according to COVID19 protocols, Special Adviser, Communications and Strategy to the Governor, Mrs Olusola Salako- Ajulo explained that the concept of grassroots communications was designed and adopted because of the need to engage the people on policies, activities and achievements of the government.
She also noted that the government, in the last 18 months, has embarked on transformational policies and projects that need to be duly communicated to the people so they can participate and benefit from the opportunities such policies and projects provide.
Speaking on behalf of the Ecobank team, Mrs Tolulope Adedapo explained various empowerment opportunities the bank was ready to provide under the financial inclusion partnership with the State government’s community communications platform, noting that the Ecobank Entrepreneurship Initiative (EFEI), a pilot project in the Southwest region, is set to empower thousands of Ekiti women who are into various forms of Small and Medium Enterprises (SMEs).
She noted that beneficiaries will receive loans from 50,000 Naira (with interest rates starting at five per cent interest rate) payable within six months. However, qualifying beneficiaries will have to undergo financial management training and will be issued certificates of participation which qualifies them to access the loan.
Another representative of the bank, Mr Yinka Onireti, spoke on highlights of agency banking, a product that embraces digital evolution and promotes financial inclusion as directed by the Central Bank of Nigeria to empower individuals to perform banking operations for their communities in the comfort of their shops, offices.
Onireti said: “Agency Banking has the potential to create thousands of jobs which is very healthy for the economy of the Ekiti State. It is also a source of financial empowerment for intending entrepreneurs and additional source of income for existing SMEs.
“We at Ecobank are glad that the Governor, Dr. Kayode Fayemi has embraced these strategies to empower the youths and further equip the business community in the State,” he said.
Speaking on the requirements to become an Agent, Mr Onireti noted that intending applicants must own a shop or office space, must be a new or existing customer with the bank, must provide valid means of identification, and own an Android phone.
Successful applicants will be commissioned to perform services such as; Account opening, deposit and withdrawal of cash, purchase of airtime and data, payment of utility bills, etc.
On the issue of taxation, the Chairman of Ekiti State Internal Revenue Service (EKIRS), Mr Olumuyiwa Ogunmilade, who was represented by an official of the organisation, Mr Femi Oloye, explained to the gathering government’s effort to cushion the effects of the COVID-19 pandemic on the people of Ekiti State by introducing tax relief and incentives for taxpayers and businesses.
He explained that the tax relief policies is to enable the sector regain momentum after the disruption in commercial activities occasioned by the COVID-19 pandemic.
“The minimum tax payable under the Presumptive Tax Regime (Market Men & Women, Artisans, etc.) in the State has been reduced by 50 per cent for the year 2020 only,” he said.
He explained that full implementation of Ekiti State Land Use Charge Law rates based on property valuation which commenced last month had been suspended due to the global economic effects of COVID-19 on the populace, adding that full amnesty has been granted to all Land Owners in respect to the arrears of Land Use Charge from year 2017 to 2019.
Shedding more light on the government’s efforts to curb the spread of COVID-19 pandemic in Ekiti State, the Senior Special Assistant on Public Health, Dr. Opeyemi Ogunsakin explained that the recent rise in community spreading of the virus in the state is due to the influx of persons from neighbouring states during lockdown, saying that the commissioning of the molecular laboratory by Governor Fayemi has helped unravelled many hidden cases in the State.
He however appealed to the leadership of the informal sector to assist in educating members and the community at large on the need to adhere to safety measures against the spread of the virus which includes; the use of nose masks, frequent hand washing (with soap and running water), hand sanitising, early reporting of symptoms and keeping to social distancing.
Many of the participants lauded the idea of the public engagement even as they expressed interest in the planned financial support and empowerment through the Ecobank financial inclusion products. They thanked the Governor for attracting such projects that make loans available for MSMEs at comfortable terms to Ekiti State.
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
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
society5 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING