Business
‘I don’t have a heart disease’ – Femi Fani-Kayode cries out
FORMER Minister of Aviation, Chief Femi Fani-kayode has denied having a heart disease as reported by some news portals.
While describing the report as false, the former minister said what he had was a “heart-related ailment,” and not a “heart disease,” saying there is a world of difference between the two.
FFK as he is fondly called made this clarification in a statement signed by his Senior Special Assistant on Public Affairs, Obiageli Nwachukwu, and seen by HEADLINE.
He also said that he will be presenting a medical report to the court at a later date.
“It has been brought to our attention that the Punch Newspaper of 31st January 2018 has reported, in a blazing and sensational headline, that the former Minister of Aviation, Chief Femi Fani-Kayode, “has heart disease”. This is false.
“It is only in the world of the reporter of the Punch Newspaper that a “heart-related ailment” has suddenly become “heart disease,” the statement partly read.
HEADLINE had report how the courtroom broke into laughter when it was informed of the indisposition.
Mr. Fani-Kayode, who was absent in court, and Nenadi Usman, a former minister of state for finance, are facing a 17-count of money laundering amounting to N4.6 billion.
Also joined as a defendant is Yusuf Danjuma, a former National Chairman of the Association of Local Government of Nigeria (ALGON) and Jointrust Dimensions Nigeria Limited.
When the case was called, only Usman and Danjuma stepped into the dock.
Before lawyers announced their appearances, Justice Rilwan asked why Fani-Kayode was not present.
Kayode’s lawyer Mr. Norrison Quakers (SAN) told Justice Rilwan Aikawa that the former minister complained about “heart-related ailment” and could not make it to court for his trial.
The courtroom then broke into a suppressed laughter after he made the complaint insisting that the former minister’s illness should be taken seriously due to recent cases of heart-related deaths.
“It is not a laughing matter.
“They said he was complaining of a heart-related pain. We have seen recent cases of heart-related deaths. On Friday, a lawyer collapsed and died while addressing the court,” Mr. Quakers, a Senior Advocate of Nigeria, said, as his colleagues and their clients struggled to hush their laugh.
He continued, “The second defendant is unusually absent in court today as a result of a health challenge which information was relayed to me by the wife.
“In that regard, I have requested for a medical report and hoping that same will get to me before the close of work because the second defendant lives and carries out his business outside the jurisdiction of this court, in Abuja.
“My humble application is for us to come back tomorrow so I can furnish the court with the medical report,” Quakers said.
The former minister’s absence stalled his trial for an alleged money laundering.
Rotimi Oyedepo, counsel to the EFCC, did not oppose the application.
But he reminded the court of the provisions of Section 396(d) of the Administration of Criminal Justice Act which stipulates that both the prosecution and defence are entitled to not more than five adjournments each during a trial.
“They have taken two now,” Mr. Oyedepo added.
Oyedepo’s position also forced FFK to insist that this was the first and only time he has been absent from proceedings or asked for an adjournment from the learned judge.
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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