Business
How Ooni of Ife, Oba Ogunwusi averted great Royal battle in Yoruba land
Maturity they say is not in age. This is the kind of situation that happened yesterday at a meeting of osun monarchs.
The Supremacy battle for the leadership of the Osun State Council of Traditional Rulers resurfaced yesterday in Osogbo, the state capital.
At the monthly meeting of the Osun State Council, the Owa Obokun of Ijesaland, Oba Adekunle Aromolaran, had a brush with the advance team of the Ooni of Ife, Oba Adeyeye Ogunwusi. Some aides of the Ooni were beaten and stripped during the incident. The Ooni’s men had brought his special chair to the front seat of the venue of the meeting as the presiding chairman.
But Oba Aromolaran reportedly shouted down at the Ooni’s men, who were trying to put his chair from where he would preside over the meeting of the day.
The Owa was quoted to have said that Oba Ogunwusi’s chair should not come before his own in any way. The development generated heated arguments among the Obas, who appealed to Owa Obokun to be patient about the issue.
Sources at the meeting told New Telegraph that Oba Aromolaran insisted that his chair should be in the front and not that of Ooni of Ife. It was also learnt that this led to a scuffle, which later resulted to the stripping of one of the Ooni’s messengers, who wanted to place the chair on the vantage position, while another one was reportedly beaten.
The development also led to the cancellation of the meeting as many monarchs, who were present, reportedly flayed the situation, describing the act as ridiculous to the traditional circle. Informed sources said that many monarchs at the meeting said they could not see the reason Aromolaran should be fighting Ooni of Ife over who chairs the meeting, when it was clearly understood by tradition that, Ooni is the head of Yoruba kingdom.
“Despite the Ooni’s ‘Emeses’ (messengers) insistence that they were sent by the monarch to put the chair at that place, Aromolaran resisted them by force and got one of them stripped,” the source added.
As at the time of going to press, the state governor, Ogbeni Rauf Aregbesola was said to have been briefed on the development and that he has immediately swung into action to see that peace reigned among the traditional rulers. Sources at the Osun State Government House said that the governor had summoned the monarchs to restore harmony in the circle.
In his reaction to the development, the spokesperson of Ooni, Mr. Moses Olafare, said: “Ooni will not want to be drawn into what happened. But he (Ooni) remained the permanent chairman according to the law. “What I know is that, it is incontrovertible that the Ooni remains the permanent chairman of the council.”
It would be recalled that chairmanship supremacy tussle resurfaced in the state traditional circle when the former Ooni of Ife, Oba Okunade Sijuwade, joined his ancestors last year. Since then, the Owa Obokun of Ijesha land has been claiming that he was the acting chairman and that some monarchs in the state had even pronounced him to be their chairman.
At the maiden meeting held in December 2015 in Osogbo, the state capital, after the Ooni’s inauguration, Oba Ogunwusi chaired it while Oba Aromolaran introduced himself as the vice chairman of the council.
But at yesterday’s meeting, things changed as the Owa insisted again that Ooni’s chair should not be in the front. In spite of the drama at the venue of the meeting, Ooni still went ahead to meet the Ijesha monarch in his palace, where he told him that he was not interested in fighting for any chairmanship position, but to see that peace reigned among the Yoruba monarchs.
The Ooni was quoted to have told Owa Obokun in his palace that: “You are one of the prominent traditional rulers in Yoruba land and it is in my own interest and that of the larger Yoruba people to relate very well with the Owa.
I’ve just spent about three months on the throne now while you, Owa, has spent about 34 years. “It is my responsibility to visit you first because you have been on the throne for long.
It has been said by the God almighty that I should come and liberate Yoruba land and to ensure peace and unity. I am not engaging in any supremacy of leadership tussle with anybody.”
In his response, Owa was quoted to have responded to Ooni that: “Your visit was a surprise to me and it is the least expected one. Now that you have come to show hand of friendship, I will now join your unity train to unify the Yoruba.”
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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