Business
Hoodlums take advantage of Lagos-Ibadan Expressway gridlock, attack motorists, cart-away valuables
Robbers have cashed in on the unending gridlock on the Lagos-Ibadan Expressway with many motorists and passengers being dispossessed of their valuables.
Motorists revealed that gunmen attacked them as the gridlock intensified due to the rehabilitation of the road by Julius Berger Plc.
Some victims said the robbers attacked Lagos-bound vehicles held up in the traffic and stole phones and money, among other valuables.
A motorist, Aborishade Osanyin, said the hoodlums operated at about 8pm on Sunday.
He said, “They targeted exotic cars in the traffic. They harassed the owners and collected their valuables.
“The robbers are suspected to be hoodlums hiding under the Kara Bridge. Some motorists managed to reach the police, but the robbers had a field day for about 20 minutes.”
A commuter, who did not identify himself, described how the robbers operated.
“Some of them wore masks and had guns. They took the side of the long bridge where Julius Berger is rehabilitating and attacked vehicles in the gridlock. They shot into the air as they moved from one vehicle to the other. It was scary; some people jumped out of their vehicles and ran away,” he said.
The commuter said when policemen, who had received information on the robbery, arrived at the scene, they started shooting into the air to scare off the robbers.
He said the hoodlums escaped into the surrounding bushes.
It was learnt that policemen attached to the Warewa Police Division, Ogun State, and the operatives of the Rapid Response Squad, and the Isheri Police Division, Lagos State, responded to the situation.
A policeman in the team told PUNCH Metro that no arrest was made.
He said, “The hoodlums have hideouts in the area. When they sighted the police patrol vehicles, they took to their heels. The most important thing was to stop the robbery, which we did. We were able to assure the motorists driving into Lagos that the robbers had fled and that they were safe.”
Similarly on Tuesday, the robbers were said to have blocked the Multichoice end of the expressway attacking motorists in the resultant gridlock.
The Commander, RRS, ACP Olatunji Disu, said the police dislodged the robbers on Sunday.
He said, “The RRS patrol team and the Isheri division went after the robbers. We were able to dislodge them.”
Meanwhile, Julius Berger Plc, the Redeemed Christian Church of God and the Mowe Unit of the Federal Road Safety Corps have started work on alternative roads to decongest gridlock on the expressway.
One of the alternative routes, which had been made available for use, opened up from the Warewa end to the Kara end of the expressway.
The FRSC Mowe Unit Commander, Assistant Corps Commander Oludare Ogunjobi, said the alternative roads would be accessible to only cars while heavy-duty trucks would use the expressway.
One of our correspondents, who visited Warewa around 2pm on Monday, observed that motorists had been plying the alternative route to link the Berger area of Lagos.
A motorist, Joseph Adewale, while commending the initiative, called on the contractor to speed up work on the expressway.
He said, “For the past six weeks, the expressway has been a nightmare because of the gridlock. At about 9pm on Sunday when I was returning from the Redeemed Christian Church of God, there was traffic on the long bridge. I spent almost two hours there. With this alternative route, I hope the traffic will ease. The construction on the expressway should be completed on time.”
Another driver, Simeon Peter, appealed to the FRSC to be at the spot at all times to ensure order on the road.
“If there is no one to control the traffic, the aim of providing this alternative will be defeated,” he added.
PUNCH Metro learnt that the RCCG created two alternative routes at the Ibafo, Ogun State end of the expressway to ensure a free flow of vehicular movement.
One of the church’s engineers working on the road, Mr. Abioye Olujimi, said a barrier would be mounted at the entrance of the road to prevent trucks.
He said, “We are 95 per cent through with the routes. What remains now is to spread asphalt on it. Over 2,000 vehicles had used the roads today and I assure you that the expressway will soon be free. The alternative roads are strictly for small vehicles, while heavy-duty trucks will use the bridge.
“There is going to be a barrier across the roads to prevent trucks from coming in. We are through with the black spots at Car Park C and NASFAT. We are also working on the ones at Mountain Top and in front of Ara Hall in Ibafo. We want to evacuate about two-third of the vehicles on the expressway through these alternative routes.”
The FRSC, Mowe Unit Commander, Ogunjobi, urged motorists to avoid driving against traffic.
He said his men would always be on the ground to ensure smooth flow of traffic, adding that any motorist caught violating traffic law would be dealt with.
He said, “Small vehicles are advised to use the alternative roads. No motorist should drive against the traffic. Whoever is caught will be prosecuted. The violators will be made to undergo psychiatric tests because no normal person will drive against the traffic. FRSC officials will be on the ground to enforce compliance.”
Efforts to speak with Julius Berger were abortive as of the time of filing this report on Tuesday.
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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