Business
Halogen Lauds Latest E-Pension Innovation, Stress Need For Cybersecurity
Nigeria’s leading technology-driven security company, Halogen Security, has applauded the country’s Pension Fund Administrators’ (PFA’s) latest innovation that enables employees in Nigeria manage their pension funds online.
In a statement in Lagos today, the Chief Executive Officer (CEO) of the Company, Wale Olaoye, said that it was long overdue for the sector to further embrace technology that will make doing business more flexible for Nigerians. He noted that doing business online was the way forward for the financial sector as “it gives clients global access, 24 hours a day, 7 days a week, with improved client service through greater flexibility and there is increased professionalism and faster delivery of products. The benefits are endless,” he said.
The Halogen boss said that although the Insurance industry all over the world is a ‘latecomer’ in the use of technology, the fact that industry giants are investing heavily in innovation and research means that there will be extensive changes in the way business is done in the near future.
“The insurance industry has generally been quite slow to pick up on new technology. In a recent survey of insurers by UK based multinational risk management company, Willis Towers Watson, 74 per cent of respondents are of the opinion that the industry is far behind in digital innovation.
“But globally, change is coming in the industry as major insurance companies are pouring millions into innovation and research. Axa is investing more than €3bn into IT and digital developments. And others, from Allianz and Munich Re in Europe to Manulife in Canada and XL Catlin in Bermuda, are also investing heavily.
“This is why we know that insurance will be very different in the near future as we’re just at the early stages of technology being applied to risk management,” Olaoye added.
The security expert, who recently bagged a Titan of Tech Merit Award, however, admonished PFA’s to invest in the latest cybersecurity techniques to protect the integrity of their networks, programs and data from attack, damage, or unauthorized access.
He said, “It is not for nothing that the U.S. federal government has allotted over $13 billion every year to cybersecurity since late 2010. The number of threats that cybercriminals release continues to rise exponentially so there is a real risk of losing data, sales, productivity, and even money.
“We all witnessed the highly publicised ransomware demands against corporate and public sector organisations across the world earlier this year in what was described as the biggest ransomware’ attack in history. Events like these have underlined how vulnerable organisations can be to criminals who know how to exploit computer systems and networks to obtain information. The global insurance industry, worth close to $1 trillion annually, is a prime target for cyber attack.”
Explaining how cyber attacks work, Mr. Olaoye said that attackers usually target files and encrypts them in a way that it becomes inaccessible to the organization. “This is when they demands payment in bitcoin in order to regain access. The worst part is that there is no guarantee that access will be granted after payment.
“However, with a research-driven approach, we truly understand the methodologies of the threat actors which is the basis for effective counters, meeting each specific threat with a targeted defense.
“Some effective cyber security strategies within the sector include implementing effective controls such as ‘Attack Path Mapping’, a unique solution that uses real-world attack methods to determine the risk to your most critical assets, providing your organisation with actionable intelligence that can be used to mitigate risks.
“There are also strategic solutions such as ‘Targeted Attack Simulations’, which can keep PFA’s safe in the knowledge they are using the most advanced defenses to resist the most advanced attackers,” he concluded
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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