Business
‘I’m not afraid to lose my Position’- Prof. Sagay says, Blasts APC Leadership
Prof. Itse Sagay (SAN), Chairman, Presidential Advisory Committee Against Corruption (PACAC), has told the leadership of the ruling All Progressives Congress (APC) that he is not afraid of losing his job as the chairman of the advisory body.
Sagay and the APC leadership have been engaged in battle of words following his allegation that the party leadership was associating with alleged corrupt members.
In an exclusive interview with INDEPENDENT, Sagay who said he accepted the position from President Muhammadu Buhari because of his desire to serve the country and not for pecuniary gain, also said the John Odigie-Oyegun-led APC leadership is not comfortable with his utterances and actions because they felt threatened whenever he attacks corrupt politicians.
“I have responded to all these allegations by saying I am not a ‘come and chop’ politician. So, they cannot say I was done any particular service by being appointed to this position or to say I was brought out of obscurity into prominence.
“I accepted this position from President Buhari, a man I have tremendous respect for because I wish to serve, not because I have anything to gain. So, for anyone to say that the party, APC, got me there is totally wrong and pure rubbish. The party never got me there. The party was not in any way involved in my appointment.
“It was the president who directly appointed me. That was why I told the APC leadership led by John Odigie-Oyegun that I am not a ‘come and chop’ politician like them. So, the question of losing a position can never arise in my life.
“They are not happy with what I am saying or doing because they are very cozy with the corrupt members. They are encouraging them, aligning with them and enjoying a close relationship with them and they are pretending as if they don’t know that those people have done anything or they are a danger to the future of the party.
“That is why they are offended because definitely when I attacked those who are corrupt who the APC leadership is encouraging through their attitude, then indirectly, I am attacking them.”
Meanwhile, the All Progressives Congress (APC) has said it will not use the criteria set by Sagay in dealing with its members.
Speaking to INDEPENDENT on the allegations made by Sagay that the party leadership is associating with and condoning alleged corrupt members, the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, said it will not deal with its members based on the recommendations of the professor.
Describing Sagay’s criticism as unfair, Abdullahi said since the PACAC boss had already stated in his interview that he is neither a politician nor a member of the APC, he will not be able to appreciate how the party deals with issues that have to do with politicians.
He added that the party can only take action against any corrupt member if a court of competent jurisdiction has pronounced a verdict on such a member.
According to Abdullahi, “The statement credited to Prof. Sagay accusing the party leadership of being weak and conniving with corrupt politicians to a relatively large extent is unfair. Prof. Sagay by his own admission said he is not a politician.
“If he is not a politician, that means he will not be able to appreciate happenings within the political dynamics. He has a different consideration from the considerations that we have as managers of the party. The responsibility that he has as an adviser to the president on anti-corruption is different from the responsibility we have to build our party and hold it together.
“He, on his part, wants us to exclude the people he has labeled as corrupt from the party, but the responsibility we have is to hold the party together. Until a law court has pronounced someone guilty of a crime, we don’t have the duty to label anyone as corrupt.
“I will be surprised if what Prof. Sagay is suggesting that the moment he, as chairman of PACAC, labels someone as corrupt, then the party should accept that pronouncement as a universal definition of that individual and severe relationship with that person. I don’t think that will be appropriate and that does not fall in line with our responsibility as a political party”
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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