Business
How i received N26Milliion on behalf of Femi Fani-Kayode from NSA Office – Police officer confesses
Former Minister of Aviation, Chief Femi Fani-Kayode is now officially on trial at Federal High Court in Abuja starting Tuesday, April 25. The trial has begun with Mr Victor Ehiabhi, a police officer, narrating how he helped the Fani-Kayode to receive N26 million from the office of the former National Security Adviser (NSA), Sambo Dasuki in 2014. The police officer identified himself as an Intelligence Operative with the Force Intelligence Bureau. He told the court that he was deployed from the bureau’s Very Important Persons Protection (VIP) Unit, to serve as Fani-Kayode’s security aide before the 2015 presidential election.
Fani-Kayode was in custody of the EFCC, but was later released pending further investigation Ehiabi said he was accompanied by Fani-Kayode’s domestic staff to receive the money from office of the NSA at the Presidential Villa, Abuja. He also said the money which was packed inside a Ghana-Must-Go bag, was handed to him at a time the Fani-Kayode was out of town.
The witness said: “On November 21, 2014, on that fateful day, my principal traveled out of town and he detailed me to be within town. “The gardener and other domestic staff were also around within the premises. The house is at Aso Drive Abuja. “One of the gardeners, called Francis, called me on phone and told me that the defendant had called him on phone that I should accompany him (Francis) and another domestic staff, Esther, to the National Security Adviser’s office at the Villa. “And not too long after, the defendant himself called me and told me the same thing. The driver named Kenneth was directed to drive us to the venue. “We moved to the venue at Suleiman Barawo Street in the Villa. While at the venue, the driver, Kenneth, and the gardener, Francis, were asked to stay in the compound while I and Esther walked into the building. “We identified ourselves as personnel of the defendant. The staff in the office asked who was Victor. I answered I was the one. They asked me to tender my identity card and I did. “The man in the office brought out a paper and asked me to endorse it on behalf of the defendant. The sum of the N26m was written on the document for the defendant. “I initially decided not to endorse the document on behalf of the defendant. But the man in the office insisted that since I was the policeman I should be the one to endorse the document, so I signed it. “The man in the office brought out the sum of N26m in N1,000 denominations, and put it in one ‘Ghana-Must-Go’ bag. He gave it to us, Esther and I, for the defendant. “We took it out of the office and beckoned on Francis and Kenneth to take it to the booth. So we departed from the house and departed to house of the defendant with the money. “On getting to the house, we took it inside the house. As of the time the money was taken to the house, the defendant had not returned. As I said earlier he had travelled out of town.”
According to Vanguard, Ehiabi said that when Fani-Kayode returned to Abuja, he invited him and others involved in moving the money home and thanked them. “The defendant had called me on phone and told me to ensure maximum security within the house until his arrival. “On the same day, at about 11pm, the defendant returned. When the defendant returned from his journey, he acknowledged the money and he sent for us, myself, Esther and thanked us. “Subsequently I was invited by the EFCC. On getting to the office of the EFCC, I was asked if I ever worked with the defendant and I said yes. “While answering the question, the personnel brought out the document that I signed at the Office of the National Security Adviser on November 21, 2014. There and then I was made to write a statement,” he concluded.
Meanwhile, Mr Wale Balogun, the counsel to the defendant, applied for an adjournment to enable him to cross-examine the witness. Therefore, trial Justice John Tsoho adjourned the matter till June 6. The prosecuting counsel was Mr Johnson Ojogbane. Meanwhile, there was a mild drama at the Abuja Division of the Federal High Court this morning, April 25, as security operatives, barred former Minister of Aviation, Mr Femi Fani-Kayode, from entering inside the court scheduled to deliver ruling on whether the detained leader of the Indigenous People of Biafra, (IPOB) Nnamdi Kanu, should be released on bail.
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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