Business
‘Ibrahim Magu wants to destroy my family’ – Former First Lady, Patience Jonathan cries out
Former First Lady, Dame Patience Jonathan, has accused Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, of plotting to destroy her family.
She has, therefore, petitioned President Muhammadu Buhari to call the EFCC boss to order, stressing that Magu’s disposition towards her former First Family, was portraying the organization as an agency for revenge.
In the statement signed by her media aide Belema Meshack-Hart, the former First lady also accused Magu of bias and intimidation, lamenting that the EFCC boss had been spreading barefaced falsehood and propaganda against her in the name of investigations. Mrs Jonathan further claimed that Magu’s actions were tantamount to “unjustified witch-hunt”, stressing that no other first lady had faced such fate of brazen intimidation in the history of this country.
The statement reads in full: “We wish to bring to the attention of Nigerians, the unjustified witch-hunt and media propaganda against the former First Lady, Dame Patience Jonathan and her family by the agents of the acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu and his media hirelings.
“For almost three years, this agency of Government has beamed its searchlight on her, her family members including siblings and parents, as well as her Foundation and Non-Governmental Organisation; A. Aruera Reach Out Foundation, and Women for Change and Development Initiative, in the name of investigating their activities. However, we have since discovered that the real intention is to disgrace, intimidate, dehumanize and ridicule her and her family, through sheer cheap propaganda, sensational investigation and media trial that have been going on for too long.
“We wish to place it on record that in the history of this country, no wife of any President had been so far investigated in such flagrantly vindictive and disgraceful manner, as has been the fate of Mrs.
Jonathan, in the hands of Magu’s EFCC.
“As a tradition, every First Lady in this country has had one pet project or the other, with which they sought to intervene in the lives of the less privileged. Mrs. Jonathan started her NGO in Bayelsa State
11 years ago when her husband was the Governor of the State. With it, she has, over the years, touched the lives of many Nigerians in different ways. It is then surprising that while other First ladies
and their pet projects were left alone, it is only her activities and that of her NGOs that are being subjected to indefinite probe and microscopic scrutiny by the Buhari administration.
“In a method that clearly bears out the axiom of giving a dog a bad name in order to hang it, Magu’s EFCC had maliciously linked Mrs. Jonathan to all kinds of fake possessions and properties around the country, including the Local Content Office in Yenagoa which is an arm of NNPC, Shoprite Complex, Nigerian Customs Guest House and Park View Hotel, both in Port Harcourt, as well as the residence of her neighbor who is a serving Senator. It has now come to a point where all the magnificent edifices in Abuja, Yenagoa or Port Harcourt are presented to the media as belonging to Mrs. Patience Jonathan. Not done, they also accuse her of owning several plots of land in many cities across the country, including places she has never visited. The most astonishing of all is that her close relatives are viciously being
victimized, as their personal properties are also being investigated.
“It is either the EFCC is now led by people who cannot conduct proper investigations, or they are deliberately feeding the public with false information, in line with their sinister script to embarrass and browbeat the former First Family.
“We wish to remind President Muhammadu Buhari that what Magu and other agents of his Government are doing is tantamount to desecrating the hallowed and dignified office of the President, and exposing it to public ridicule before the rest of the world.
As the elected President, Muhammadu Buhari has become a father to all Nigerians. He should therefore resist the snare of those vile advisers who portray
him as a sectional and vindictive leader, out to disgrace his predecessors.
“We implore President Buhari to call Magu and his goons to order so he does not further defile and do more damage to the dignity of the seat of the nation’s President. The seat of the President of any country is sacred and the occupant must be respected. As a former First Lady, Mrs. Jonathan has been falsely called all manner of names, including drug peddler, by Magu’s well-oiled propaganda machinery.
“We believe that she is being systematically persecuted and punished because of her unflinching support for her husband during the 2015 elections. President Buhari should be reminded that his wife also supported him in all the elections he contested against her husband, former President Jonathan, but Dr. Jonathan did not at any point in time, carry out personal vendetta or go after Buhari’s wife.
That is the standard practice in all democracies around the world. For instance, Michelle Obama campaigned vigorously for her husband’s party during their last Presidential election, but we are yet to see President Donald Trump move against her. One thing is clear: No matter what they do to Mrs. Jonathan, she will continue to stand by her husband, the father of her children, even if it means paying the
supreme price with her life.
“We are inclined to believe that there is a well orchestrated plan to destroy her and her husband by Magu. The signs are ominous and obvious. Her children had been harassed with her daughter’s house burgled. Her vehicles have been attacked on the road four times, since 2015. Their house in Abuja was vandalized allegedly by security agents sent by Government to secure it, and the items stolen are yet to be recovered.
We are inclined to remind President Buhari that when he was attacked in Kaduna, the former first Lady’s husband, Goodluck Jonathan, as the then President, immediately fortified his security to ensure his safety.
“There is no doubt that the grand plot to hound and humiliate the Jonathan family by Magu, is afoot. But we are consoled by the fact that duplicity and treachery have an expiry date. Today’s dance of victory is only temporary.
No one can deceive the masses forever. The truth will rise up one day to trounce all the massive lies and propaganda that are today being spread against Mrs. Jonathan and her family.”
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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