Business
Fulani Herdsmen kidnaps Catholic priest, demand N2.5million ransom
The Catholic Diocese of Nnewi, yesterday alleged that suspected Fulani herdsmen armed with dangerous weapons including guns, attacked and kidnapped the Rector of Tansi Major Seminary, Rev. Fr. Dr. Emmanuel Dim, while two other priests Rev. Frs. Jude Chukwuneke and Jude Ezeokana who were in the same vehicle with him escaped with various degrees of gun shot wounds.
Addressing reporters at the Nnewi Catholic Diocese Media House, located in Assumption Cathedral Nnewi, Director of Communication of the Diocese, Rev. Fr. Hyginus Aghaulor, alleged that the herdsmen called, and demanded for a ransom of N2.5 million. He said: “Catholic Bishops Conference of Nigeria, CBCN, has decided and directed that ransom should not be paid for the kidnap of any of its priests and anybody that is demanding for ransom for the release of any priest kidnapped is wasting time. “If anybody or group goes ahead to pay ransom for the release of any priest, the person or the group is on his own.” In a statement issued after addressing reporters, titled “Fulani herdsmen kidnap Rector of Tansi Major Seminary, Onitsha, demands for ransom,” the Catholic Diocese of Nnewi said the incident happened on the September 26, 2016, around 7pm along Nkpologwu/Nimbo Road Enugu State. According to the statement, “the three Catholic priests were returning from Nsukka to Onitsha and Nnewi, after a condolence visit to Rev. Fr. Uchenna Ezeh of Nsukka Diocese who lost his mother, before they were attacked and while Rev. Fr. Dim is still being held by the herdsmen- kidnappers who are demanding a ransom of N2.5 million, Rev. Fr. Ezeokana, who lectures in both Fr. Tansi Major Seminary Onitsha and Nnamdi Azikiwe University Awka, received treatment briefly at a hospital in Nsukka, but is now recuperating at Awka his home Diocese. “Rev. Fr. Chukwuemeka, who is the Chaplin of St Camillus de Lellis Chaplaincy, College of Health Science, Nnamdi Azikiwe University, Nnewi ,who was shot on the head has been transferred from Memphis Specialist Hospital Enugu to Nnamdi Azikiwe University Teaching Hospital, Nnewi, where he is currently receiving treatment.” “On a separate place the same Monday 26th September, 2016, a Vincentian priest whose name is yet to be confirmed was also kidnapped with his brother along Abuja Lokoja express way, another Catholic priest Rev. Fr. Emmanuel Ugwu was kidnapped on August 9,2014 along Ugwuogo-Nike-Opi and few weeks back a senior seminarian was killed in cold blooded in Attakwu, Enugu State, and one begins to wonder if Catholic priest have become endangered species”. The visibly angry Rev. Fr. Aghaulor lashed out on South East Governors for doing nothing to protect people they are governing, “while their counterparts in the North are influencing the Federal Government in spending billions of naira to contain the Boko Haram insurgents, when something more worrisome and sinister than the activities of Boko Haram is being done in the South East by the Fulani Herdsmen”. “The South East Governors and their Chairman have done nothing to protect the people of South East, the Enugu State Governor whose state is where the menacing activities of the of the herdsmen is worst and the state legislators have not done anything to protect the people there, they should borrow a leaf from Governor Ayo Fayose of Ekiti State. “We are in Federalism, and each state have right to make certain law governing them, what prevents Enugu State Government from making laws that can protect the people there, Governors of South East and their State Assembly’s should make laws that will protect their people”.
Rev. Fr. Aghaulor lamented that since the existence of Nigeria, nobody has seen the level of killing spree that is being perpetrated by the Fulani herdsmen, adding that “while innocent people are left unprotected, we have seen barrage of military wares and personnel protecting the pipelines in Niger Delta, as if oil is more important than people’s life. Why should people be killed without provocation in their own traditional lands? “We are asking the government for how long would this continue, is this the type of country we all signed up for, is this part of the change, is there no rules and laws in this country , all over Nigeria women are being raped, people are intimidated, innocent Nigerians are being slaughtered and property worth billions of Naira destroyed by the suspected Fulani Herdsmen”.
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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