Business
How i took over my wife’s drug trafficking business – Evangelist reveals
A 52-year-old Nigerian evangelist based in South Africa, John Arinze, has been arrested by the National Drug Law Enforcement Agency, NDLEA, for allegedly attempting to export N1.4bn worth of narcotics to South Africa.
Arinze who hails from Ara village, Nise in Awka South Local Government Area of Anambra State, reportedly concealed the drugs made of 92kgs methamphetamine and 73kgs ephedrine, inside two containers of foodstuff meant for export to South Africa at the Apapa Seaport in Lagos State.
Other items in the container were said to include hair cream, bags of melon, kegs of palm oil, beans, biscuits and sardine. Sniffer dogs belonging to the agency reportedly detected the drugs during screening operation.
This disclosure was made known by the NDLEA spokesperson, Mitchell Ofoyeju, on Friday.
In a statement, the spokesperson said the suspect was under interrogation following an intense undercover operation by the agency.
Ofoyeju added that the suspect had confessed to the crime.
The statement reads, “During examination of the containers marked MSKU 388274-1 and MSKU 424717-0; anti-narcotic officials detected 20kg of Methamphetamine and 50kg of Ephedrine inside the first container. Also, 72Kg of Methamphetamine and 23Kg of Ephedrine were detected in the second container. The total weight of the drugs is 165kg.
“Officers successfully traced the illicit consignment to a 52 year old man who claimed to be an evangelist by name John Vincent Arinze who was arrested in his hotel room in Lagos.
“A Mercedes Benz sport utility vehicle belonging to him was also impounded at the time of arrest.
“Arinze who had lived in South Africa for over a decade accepted ownership of the illicit shipment.
“The drugs were hidden inside packs of melon, concealed in foodstuff and cosmetics such as gaari (cassava flakes), noodles, food seasoning, yam powder, some alcoholic and non-alcoholic drinks, pepper, milk, herbal hair cream and cereals,” the statement added.
The Chairman/Chief Executive of NDLEA, Col. Muhammad Abdallah (retd.), commenting on the arrest, said the seizure would have a positive influence on the campaign against narcotic and psychotropic substances in the country.
Abdallah was quoted as saying “This is a product of careful planning and meticulous tracking of narcotic drugs movement. The consignments were closely monitored by our undercover agents and intercepted at Apapa Seaport, Lagos following the detection of narcotics by NDLEA sniffer dogs during screening operation. This will definitely have a positive influence on Nigeria’s drug control efforts.
“I am very happy with the success recorded in this operation. The Agency will remain painstaking and professional in the fight against illicit drug production, trafficking, abuse and prosecuting offenders. We hope to unmask the drug syndicate behind this shipment and make more arrests soon.
“The statement said the suspect would soon be charged to court.”
Confessing to the crime, the suspect reportedly told operatives in his statement that he made a big mistake by taking over the business of his late wife, who was into drug trafficking.
“I am an evangelist living in Durban South Africa. My late wife was into drug trafficking before she died few years ago. I made a mistake venturing into her business. It is my fault,” he was quoted as saying.
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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