Connect with us

Business

‘I’m ready to come out from hiding to spill the beans if Buhari will provide adequate Security for me’- Miana

Published

on

 

 

 

The former Chairman of the Presidential Task Force on Pension Reforms, Mr. Abdulrasheed Maina, has explained that he went into hiding to save his life from pension thieves who vowed to silence him for asking the former Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, to stop multi-billion naira monthly allocations being shared by the thieves under the guise of paying pensioners.

Maina, who spoke to Berekete Family, an Abuja-based Radio Show anchored by Ahmed Isa, which could not be authenticated, said he was ready to come out from hiding to spill the beans with relevant documents if President Muhammadu Buhari would provide him adequate security.
The former pension boss recalled that his car was shot at three times and the windows shattered when he was returning from a meeting with former President Goodluck Jonathan and Okonjo-Iweala where they discussed about the money recovered by his task force.

According to him, what saved him from the attack was that Jonathan had earlier directed that he should be given a bulletproof car after he had complained to him about strange text messages, which threatened his life.
Maina denied stealing pension money, saying that his task force did not have or operate any account and challenged anyone with proof that he was given any government money to present the proof to Nigerians.

“To start with, I did not take anybody’s one kobo and nobody has ever given me one kobo in Nigeria. Nobody has ever given me budget; nobody has ever given our office N10. The Office of the Head of Service (HoS) has always been in charge of our task force. Our task force include: 15 officers from the EFCC; 15 officers from the ICPC; four officers from DSS; two officers from NIA; 15 officers from the office of HoS; three officers from the Accountant General’s Office; three officers from the Auditor General’s office; two officers from the office of the Attorney General and Public Complaint Commission and some representatives of the National Association of the Nigerian Pensioners. I was only the head. Anything that happened in that task force must be endorsed by all these agencies before it is brought to me to endorse. So, why is it that people are calling Maina, Maina and not calling the task force? The reason is that I refused to bend backwards,” Maina explained.

Maina challenged anyone – whether the budget office or the ministry of finance that has ever given him money to show the proof to Nigerians.
He said instead of appropriating government’s money, his task force recovered N282 billion, which Okonjo-Iweala lodged at the Central Bank of Nigeria (CBN), when the present Emir of Kano, Alhaji Muhammad Sanusi was the governor.

“This money, I have never seen in cash; I only see in paper. So, how did I come across the money? If there is anybody with proof of how government gave me money or how money entered into my account, let the person show the proof. People are talking on the newspapers. All this is because of the following: My team was asked to go and restructure the Police Pension Office. We went to the Police Pension Office and we found out that they were taking N300 million every morning. I reported to the Minister of Finance and asked her if she approved N24 billion for payment of police pension arrears and she said ‘yes.’. I told her that the money was not being used to pay police pension arrears and that N300 million was removed every morning and these are the people that were removing the money. The matter was referred to the EFCC and ICPC,” Maina said.

“The second thing was that they were allocating N1.5 billion every month for police pension. We found out that the actual amount was N488 million. That means that they have been stealing N1 billion every month for so long. Definitely, I will have enemies. We had to ask the Minister of Finance to stop these payments,” he added.
Maina also stated that his team carried out biometric exercise, stressing that the exercise was approved by the Head of Service and not him.

According to him, all the agencies represented in the task force participated in the exercise.
“The task force never had or operated any account. It is the people who stole money and that are being prosecuted are the ones that paid money to the media to rubbish my name. They are rubbishing my name because they are afraid that if Maina is around, Maina is going to reveal a lot of things. We blocked leakages in government and saved billions of naira for the government. We created e-payment and gave pensioners smart cards. That way, a pensioner will go and verify himself at his own time instead of lining up every month and dying in the process. We found out that the payroll of the Head of Service was N5.12 billion but the actual was N825 million. So, why should Maina go and tell the Minister of Finance to stop sending N5.12 billion? That was my crime because this money was being shared all over,” Maina explained.

He also recalled that his car was riddled with bullets when he was returning from a meeting with former President Jonathan and Okonjo-Iweala where the money recovered by his team was discussed.
“I had complained to the president and they gave me bullet –proof car. The car is still in the villa. When I complained to the police, the reply by the police was signed by the present Inspector General of Police. I had to go under because of the threats to my life. So, I went to court,” he added.

When asked if he would come out of hiding and spill the beans if President Buhari provides the necessary security for him, Maina said: “I am ready and half of those people will run away and leave Nigeria.

“I tell you this and that is why I am being persecuted. The former President is alive; the former Minister of Finance is alive. Let them go and find out about the money Maina recovered. How can they say there is no money to pay pensioners? It was during my time that we went and got approval for 53 per cent increase in pension. With the money we recovered, they were able to pay the 53 per cent increase. We recovered N282 billion. How many pensioners do we have in Nigeria? Secondly, because of the information I gave to the security agencies, they recovered N1.6 trllion from the security agencies,” he said.

Speaking on why he shunned invitation by the Senate, Maina stated that he had earlier honoured the lawmakers’ invitation but was shocked by the treatment given to the pension thieves by the Senators.
“The pension thieves were being given tea in the Senate Chambers while I and Lawode were inside the dock. So, the thieves were with the Senators,” he added.

Business

Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

Published

on

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.

 

Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

Continue Reading

Bank

Alpha Morgan to Host 19th Economic Review Webinar

Published

on

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.

Continue Reading

Business

GTBank Launches Quick Airtime Loan at 2.95%

Published

on

GTCO increases GTBank’s Paid-Up Capital to ₦504 Billion

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

Continue Reading

Cover Of The Week

Trending