Business
How sacked FRC Head, Jim Obazee vowed to remove Pastor Adeboye – RCCG reveals
THE Redeemed Christian Church of God, RCCG, yesterday, said the sacked Executive Secretary/Chief Executive Officer of the Financial Reporting Council of Nigeria, FRCN, Mr. Jim Obazee, had vowed to remove the General Overseer of the church, Pastor Enoch Adeboye. This revelation was made by Head of the church’s Media and Public Relations, Pastor Segun Adegbiji, who also confirmed that the embattled Obazee was a zonal pastor with RCCG and, at a time, refused to honour Pastor Adeboye’s summons over alleged infractions.
According to Adegbiji, when the General Overseer noticed some infractions and sent for the then zonal pastor, he (Obazee) immediately replied that he was in his office and if Pastor Adeboye really wanted to see him, he knew where to reach him. Obazee had allegedly refused to suspend the implementation of the FRCN regulation that requires heads of all registered churches, mosques and other non-profit organisations to serve a maximum of 20 years in office and thereafter hand over to someone from outside their families. Obazee reportedly insisted that only an official gazette would stop him. Pastor Adegbiji further said that the recent changes announced by Pastor Adeboye, last week, which caused a stir in the polity, were informed by the provisions of the FRCN Act, explaining that the General Overseer does nothing without consulting God.
According to him, “God may have decided to carry out the reforms for a purpose though such appointments were not new to a growing church like RCCG which has branches in 192 nations of the world. “The newly appointed country overseer, Pastor Joseph Obayemi may remain the overseer in charge of Nigeria operating from his current regional headquarters in Somolu in Lagos. “The national headquarters of the church remains in Ebute Metta, Lagos, while the global headquarters is at the Redemption Camp, but the new country overseer, Pastor Obayemi may not immediately move to the Ebute Metta headquarters because it will be administratively inconvenient for him to operate from the headquarters of another region.” He corrected the impression that the General Overseer, Pastor Adeboye had resigned and appointed a successor, saying: “The General Overseer has not stepped down. He is still the General Overseer of the church and the announcement has not diminished his schedule across the globe.”
He also corrected the impression that the new national overseer was a Special Assistant to the General Overseer, adding that Pastor Obayemi, who will now oversee RCCG’s 28 regions in Nigeria, was one of the seven senior pastors promoted Assistant General Overseers and members of the Governing Council, during the 2016 convention of the church last August. Pastor Obayemi was a deputy in charge of Finance and a member of governing council in RCCG, before his appointment as the new Country/national Overseer of the church. RCCG, with 14 parishes before Pastor Adeboye’s entrance, has grown to become one of Nigeria’s biggest with branches in 192 countries. According to the PRO, the church may not have so designated them but most pastors overseas are actually regarded as country overseers, who act as liaison between the church and their host countries.
With the sack of Obazee and the dissolution of the FRCN Board, President Muhammadu Buhari may have temporarily saved the jobs of many prominent Pentecostal church leaders who have since passed the 20-year threshold. Among them are Pastor William Kumuyi, who has spent 43 years as the General Suerintendent of Deeper Christian Life Ministry; Bishop Mike Okonkwo of the Redeemed Evangelical Mission (35 years); Living Faith Church, also known as Winners Chapel’s Bishop David Oyedepo (35 yeas;) Dr. Daniel Olukoya of Mountain of Fire and Miracles Ministries (22); Pastor Ayo Oritsejafor of Word of Life Bible Church (29 years); Rev. Chris Okotie of the Household of God (29 years); Kingsway International Christian Centre’s Pastor Matthew Ashimolowo (24 years);. Others are Pastor Chris Oyakhilome of Believers’ LoveWord International, alias Christ Embassy (26 years); Pastor Sam Adeyemi of Daystar Christian Centre (21 years); Pastor Tunde Bakare of Latter Rain Assembly (27 years); House on the Rock’s Pastor Paul Adefarasin (22 years) among others.
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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