Business
I’m not in support of the anti-social media bill – Buhari
President Muhammadu Buhari, yesterday, distanced himself from the proposed Social Media Bill currently being debated in the Senate seeking to restrict Nigerians from “criticizing” political and public office holders.
This is just as the United Nations is considering the petition filed by rights group, Socio-Economic Rights and Accountability Project (SERAP), against the bill
The President speaking through his Senior Special Assistant on Media and Publicity, Malam Garba Shehu, stated that the principle of the bill was inconsistent with democratic ideals of free speech enshrined in the constitution of the land.
He added that he had sworn to protect and uphold the dictates of the constitution and would not in anyway go against it.
President Buhari, however, stated that he was “not averse to lawful regulation, so long as that is done within the ambit of the constitution” which he swore to uphold, noting that free speech was central to democratic societies anywhere in the world.
“The President won’t assent to any legislation that may be inconsistent with the constitution of Nigeria,” he said.
He further explained that without free speech, elected representatives won’t be able to gauge public feelings and moods about governance issues.
“As a key component of democratic principles are so emotionally attached to free speech that they would defend it with all their might,” he said.
Shehu explained that President Buhari was fully aware of the public reservations about the proposed legislation but assured that there was no cause for alarm “because the Senate is a democratic Senate.
The bill, however, has passed second reading in the Senate.
UN hears petition on the bill
Meanwhile, the UN Special Rapporteur on the promotion and protection of the right to freedom of opinion and expression, Mr. David Kaye is considering the urgent appeal against the bill
In a statement, yesterday, by SERAP executive director, Adetokunbo Mumuni, the organisation said: “SERAP can confirm that the Office of the Special Rapporteur is now considering our petition. We have received communication from Marcelo Daher at the Office of the Special Rapporteur to this effect. The Special Rapporteur has also requested a copy of the bill, which SERAP has promptly sent to Marcelo Daher.
“SERAP appreciates the prompt attention to this matter by the Office of the Special Rapporteur. We urge the UN to pursue this matter to a satisfactory conclusion by ensuring that the Nigerian Senate is not allowed to strangulate media freedom and social media in the country,” the group said.
According to the group, “the only option for the Senate now is to withdraw this obnoxious bill without further delay and end this international embarrassment. SERAP will be prepared to withdraw the petition at the UN if the Senate can follow this honourable path.”
SERAP, last week, sent an urgent appeal to Mr. David Kaye requesting him to “use your good offices and position to urgently request the National Assembly of Nigeria, specifically the Senate, to withdraw a bill which if passed into law would undermine the internationally recognized right to freedom of expression and press freedom on the internet in the country.”
The urgent appeal
Mr Zeid Ra’ad Al Hussein, UN High Commissioner for Human Rights, was copied in the urgent appeal.
In the urgent appeal, the organisation expressed serious concerns “that the National Assembly of Nigeria will any moment from now pass a bill to jail for two years and fine anybody or group of persons who send any alleged false text message or post false message on the social media against another person.
“SERAP is concerned that rather than increasing universal and inclusive access to the Internet for all Nigerians, the National Assembly of Nigeria is working to undermine access of citizens to the Internet. Yet, freedom of expression entails the ability to both speak and receive information, including through the social media and other generated content services such as YouTube, Twitter, Facebook, and chat applications.
“By initiating this bill, the National Assembly is impermissibly restricting the ability of the citizens to use these tools to communicate, connect, and seek independent sources of information.
“SERAP also contends that the bill will restrain access to Internet and social media, curtail the freedom of the press, and online content in illegitimate, disproportionate, or otherwise unlawful and abusive ways. The real targets of the bill are social media and human rights defenders that might be critical of government policies or report on corruption involving high ranking government officials.
“International law provides that any restriction to rights online must be provided in law, pursuant to a legitimate aim, and limited to only what is necessary and proportionate. SERAP believes that the bill falls far short of international requirements of legitimacy, necessity and proportionality.
“The bill will also have chilling effect on freedom of expression in the country, as it will create an atmosphere of fear among bloggers and online activists who may not post critical commentary on Facebook or other social media platforms for fear of being sent to jail.”
Vanguard
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
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
society5 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING
You must be logged in to post a comment Login