Business
How Imo state government rendered citizens homeless by demolition + how they disobeyed court order to stop
The Imo State capital, has been in the news lately for diverse reasons bordering on the good and the bad, according to the perceptions of the people. But of all the recent incidents and events recorded in the city, the ongoing demolition of structures has featured more prominently in the news as it continues to draw a lot of tears and scathing criticisms. Indeed, it has been outrage and lamentations galore since the state government commenced the demolition of properties as a prelude to the planned expansion of some roads in the state capital. Section of a school structure affected by the demolition exercise in Owerri The demolition, which started along the Amakohia/Akwakuma axis, saw the destruction of several ancestral homes, residential buildings, business concerns, the desecration of graves, parts of the premises of Sacred Heart Catholic Church, Akwakuma, Immaculate Conception Catholic Church, Amakohia and several others. Within the past week, some bank premises, the state headquarters of the Peoples Democratic Party and the residential home of the gubernatorial candidate of the All Progressives Grand Alliance, Captain Emmanuel Ihenacho have been visited pulled down by bulldozers. Establishments like the Federal Medical Centre, Owerri and the Alvan Ikoku Federal College of Education, AIFCE, also suffered same fate after being marked for demolition. Irked by the planned destruction of their institution’s properties by the Governor Rochas Okorocha administration Students of AIFCE last week stormed the streets of Owerri in protest. Although the students pleaded with Okorocha to drop the idea of destroying any part of the school premises, their pleas obviously fell on deaf ears as parts of the institution were later demolished. The incensed students have, however, vowed to do everything possible to ensure that the state government does not carry out its threat of also destroying the pedestrian bridge, perimeter fence, gate and other parts of the school. Some of the placards carried by the students read: “Okorocha, spare our pedestrian bridge”, “Okorocha cannot destroy the beauty of our College and security of students”, “Okorocha, leave us alone and continue your demolition exercise elsewhere”, and “Okorocha, please don’t provoke us”.
Similarly, economic activities were held up for hours in Owerri, following a massive protest against the proposed plan by Imo State Government to move artisans from the Orji and Nekede Mechanic Villages to Avu in Owerri West local council area of the state. Vanguard Metro reliably gathered that Governor Rochas Okorocha invited the artisans to a meeting but it was not very clear at press time, what went wrong before the aggrieved self-employed workers stormed the streets in a protest march. Some of the protesters expressed regret that the Governor had made up his mind to forcibly move them to a virgin land where no amenity is in existence. “I can tell you that we are not against his (Okorocha’s) government. If he insists that we should move to Avu, he should also do us the favour of putting some social amenities in place,” Mr. Edward Okoli said. “Some of us have built houses and other immovable structures in the Mechanic Villages, which cost us millions of Naira. Today, government wants to move us to a place that has nothing to support us and our jobs,” he added. Another artisan, who simply identified himself as Sylvester, said “there is no access road into the place, no electricity, no potable water and no buildings”. Court issues restraining order Apparently alarmed by the threat of imminent destruction of his personal residence, Captain Ihenacho approached the Federal High Court, Owerri, presided over by Hon. Justice Ambrose Lewis Allagoa. After listening to Ihenacho’s counsel, the court issued a restraining order against the Attorney General of the Federation, the Minister of Works, Power and Housing, the Governor of Imo State, Attorney General of Imo State, Commissioner of Works, Imo State, the Commissioner for Lands, Survey and Urban Planning, Imo State and the Imo State Government. This order of court was disobeyed. Capt. Emmanuel Ihenacho reacts “The signboard of Lamonde Guest House, owned by Rochas Okorocha, is located just one metre from the culvert on Orlu Road. The gate of Lamonde Guest House is located less than 10 metres from the culvert. Neither the signboard nor the gateways was destroyed by Okorocha for road expansion. “The same Okorocha personally came to my residence with armed soldiers and other security officers on Thursday, July 7, 2016, to supervise the demolition of my residence, up to 14 metres from the edge of the culvert, barely three days after a High Court order restraining him from the demolition”. Some affected victims speak Similarly, some residents of Amakohia and Akwakuma communities in Owerri North Local Council Area of the state, have decried the demolition of their homes and business outfits by government. A victim of the demolition, Nze Obinna Emereole, told newsmen that he recently accessed a loan from a micro finance bank, which he used to erect a building at Amakohia. While saying that the Owerri Capital Development Authority, OCDA, approved the building plan before he commenced the construction, Emereole however wondered why the Governor would personally supervise the destruction of his house. “Are we animals? Why must a government and governor we brought on board, treat us like animals? It is indeed most unfortunate. God is watching,” Emereole lamented. Governor’s Chief Press Secretary responds Reacting on behalf of his boss, the Chief Press Secretary to the Governor, Sam Onwuemeodo, had this to say: “Former Minister of Interior and the governorship candidate of the All Progressives Grand Alliance, APGA, in the State, Captain Emmanuel Iheanacho, has been very supportive to the Rescue Mission Government in the State since 2011, and that is why efforts by certain politicians in the State to incite him against the government has failed. “It is also against the backdrop of this development that Captain Iheanacho would see the demolition of the fence of his house that was very close to the main road, and that is Orlu/Amakohia Road, as an action sincerely taken in the overall interest of the State and her people, and not out of malice. “And seeing the good work going on, on Amakohia/Orlu road, Captain Iheanacho would not have gone to Court for an Order to stop the good work; and that is why we had doubted the report on Court Order when we read it on the pages of newspapers; and that could be the reason that, uptill now, nobody has seen a copy of the reported Court Order. “The Governor and indeed the Rescue Mission government will continue to appreciate the support and understanding of Imo people, including Captain Iheanacho, whose fences or kiosks have been touched in the course of the expansion work going on, on some major roads within Owerri and environs in line with the Governor’s determination to make Owerri a model city. “The Governor will continue to work for Imo people with sincerity of purpose until his ambition of building a state of our collective dreams and aspirations is achieved. Imo PDP’s office is intact “The state office of the Imo State Chapter of the Peoples Democratic Party, PDP, on Okigwe Road, Owerri, is intact and has not been touched or demolished as being falsely claimed by certain elements, especially in the social media, in the course of the expansion work going on, on that road. “But the front fence of the building housing the party’s office was touched because it was built very close to the main road and there was no way it would not have been affected by the on-going expansion work on that road. “It is very unfortunate that few indigenes of the state who have sworn not to appreciate any good thing being done by the government of Rochas Okorocha have been working tirelessly to use the expansion works on some major roads in Owerri and environs to blackmail the Governor vis-à-vis the government. “Most people in the state appreciate what the government is doing at the moment to add a lot of values to Owerri as the state capital and make it a model city. “The Governor has continued to appeal to the people of the state, especially those whose fences, kiosks and other structures have been touched for understanding. The Governor’s ambition is to leave the state better than he met it and all hands must be on deck to encourage him in his effort to achieve that lofty goal.”
Business
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.
Bank
Alpha Morgan to Host 19th Economic Review Webinar
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%
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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