Business
Fear grips presidency as Buhari’s son lies lifeless after bike accident
Son of President Muhammadu Buhari, Yusuf, was, on Tuesday night, involved in a bike accident in Abuja.
He was said to have sustained a head injury and had one of his limbs broken.
The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, confirmed the crash in a statement made available to journalists on Wednesday.
Shehu said Yusuf had undergone successful surgery and was in a stable condition.
The statement read, “Yusuf Buhari had a bike accident last night around Gwarimpa in the Federal Capital Territory, Abuja.
“He broke a limb and had an injury to the head as a result. He has undergone surgery at a clinic in Abuja. He is in a stable condition.
“The President and his wife, Mrs. Aisha Muhammadu Buhari, are thankful to Nigerians for the good wishes and prayers for their son.”
It was gathered that Yusuf was racing on a power bike with his friends when the accident occurred on Tuesday night.
It was also learnt that he was rushed to the Cedar Crest Hospital in Gudu District, Abuja, where surgery was performed on him.
When one of our correspondents visited the hospital at about 2pm on Wednesday, policemen and officers of the Department of State Services stood watch at the hospital.
The correspondent counted four Toyota Hilux vehicles belonging to the security personnel, parked around the premises.
Although the security officials were not willing to talk, a relation of a patient in the hospital, who gave his name only as Abubakar, said top government officials had been visiting the President’s son since Wednesday morning.
“The Inspector-General of Police, Ibrahim Idris, was here. The Chief of Army Staff, Lt Gen. Tukur Buratai, also visited the hospital. Many other dignitaries whose identities were unknown have visited.
“My father is a patient here. He is to undergo amputation and replacement of his leg. We have been billed N3.5m.” Abubakar said.
The PUNCH observed three Hilux vans and two Toyota Prado vehicles driving onto the premises at the exact time of this visit. One of them was a Federal Government vehicle, with number plate 21B FG04.
Visitors were not allowed onto the premises as three riot policemen stood at the entrance to screen the entrants.
It was gathered that more government dignitaries were still being expected at the hospital which is isolated on that street.
Buhari’s son’s crash not reported to police, FRSC
Meanwhile, Yusuf’s crash was not reported to the police or the Federal Road Safety Corps for investigation, checks on Wednesday by one of our correspondents revealed.
Investigations indicated that the police and the FRSC were not aware of the crash in which Yusuf suffered head injuries and fractures.
It was learnt that the two security agencies, which are statutorily empowered to investigate road accidents and sanction traffic law violators, might not be able to determine the cause of the crash because they had no record of it.
The Federal Capital Territory Police Public Relations Officer, Anjuguri Manzah, said he was not aware of the incident when asked on Wednesday.
He was asked to find out from the division where the accident occurred, but he did not respond to subsequent calls.
The FRSC spokesman, Bisi Kazeem, simply referred one of our correspondents to the statement by the Presidency on the incident.
“Check the statement from the Presidency; it is self-explanatory,” he said on the phone when asked if the accident was reported to the corps.
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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