Business

‘We haven’t heard anything’ – Biafra Victim cries out over FG N88Billion compensation promise

Published

8 years ago

January 9, 2018

Victims of the Nigeria/Biafra civil war, yesterday, said the Federal Government had yet to pay them, more than two months after it agreed to release N88 billion for their compensation.

The government had in an agreement it entered before the ECOWAS Court of Justice in Abuja, on October 30, 2017, said part of the fund would be used for the completion of demining and destruction of abandoned explosives within the South-East, South-South and North Central regions of the country.

Specifically, the Federal Government had in the terms of agreement before the regional court, stressed that while N50billion compensation would be paid to “true victims” of the civil war that occurred between 1967 and 1970. It also said N38 billion would be paid to contractors for total and complete demining and destruction of abandoned bombs and landmines within the regions.

The decision followed a suit marked ECW/CCJ/APP/06/12, which was filed before the ECOWAS Court on May 2, 2012, by one Vincent Agu and 19 others against the Federal Government and five others.

A statement the group sent to our correspondent through their leaders, Egobudike Monday Ogbowu and Ndu Pedro, read: “On behalf of BIAFRA Civil War soldiers from Rivers state who were granted pardon and were promised to be paid off by the President Mohammadu Buhari-led government to permanently end the case in ECOWAS Court, we want to state that we have not heard or received anything.

“Federal Government had as part of the terms of agreement, promised to effect the payment through Chukwukadibia & Co and Deminers Concept Nigeria Ltd, but up till now we have not gotten gotten anything and it is making us to wonder if the Federal Government and Chukwukadibia & Co and Deminers Concept Nigeria Ltd are playing politics with it?

“If they are not playing politics with us, we urge the Federal Government to come out open and tell us the situation of things and the reason behind the delay in the payment.”

The government opted for an out-of-court- settlement of the matter after four years negotiation period.

According to the agreement document which the ECOWAS court adopted as its consent judgment, two firms, RSB Holdings Nigeria Limited and Deminers Concept Nigeria Limited, were said to have been contracted in 2009 to carry out demining exercise in the war affected areas.

The government told the court that after an exercise that was conducted by medical experts that were employed by the two contractors to screen and identify true victims of the war, “All the parties to this suit acknowledge that 685 persons were selected and classified as survivors while 493 of them were confirmed as victims of either landmines or other dangerous military ordnance including locally fabricated weapons, hence entitled to compesation including their families and communities.”

“Whereas the parties also acknowledged that a total of over 17, 000 bombs were recovered and destroyed by the 4th and 5th Respondents (the contractors), while a total of 1, 317 are still in the stockpile located at the Mine Action Center, Owerri, Imo State, large quantity of live bombs still litter the Applicant’s communities”.

States listed to benefit from the deal were Anambra, Imo, Rivers, Akwa Ibom, Delta, Ebonyi, Cross River, Abia, Enugu and Benue.

However, over two months after the terms of settlement was entered by the ECOWAS court, a group of Biafra war veterans from Rivers State, told Vanguard yesterday that they had not heard nor received anything from the government.

The government had before the ECOWAS Court, said it would pay the compensation within 45 days from the day the consent judgment was entered in the matter.

Meantime, effort to get reaction of the Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, proved abortive as calls placed to his telephone line were not answered as at press time.

The plaintiffs had in the suit they filed for themselves and as representatives of victims of the Nigerian civil war, including all the 493 victims pre-enumerated by the Ministry of Defence, demanded N100m as compensatory and general damages.

Business

Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

Published

2 days ago

February 19, 2026

Sahara Weekly

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.

The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.

The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.

Bank

Alpha Morgan to Host 19th Economic Review Webinar

Published

3 days ago

February 18, 2026

Sahara Weekly

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.

Business

GTBank Launches Quick Airtime Loan at 2.95%

Published

4 days ago

February 17, 2026

Sahara Weekly

GTCO increases GTBank’s Paid-Up Capital to ₦504 Billion

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