Business
Inspector General of Police, Ibrahim Idris sues the Senate, Bukola Saraki over fraud allegations
The Inspector-General of Police, Mr. Ibrahim Idris, on Thursday, filed a suit before the High Court of the Federal Capital Territory in Abuja, seeking an order restraining the Senate and Senate President ,Bukola Saraki from going ahead with their plan to investigate allegations of malpractices against him.
The lawmaker, representing Bauchi Central Senatorial District, Isah Misau, of the All Progressives Congress, had alleged, among others, that the IG collected about N10bn monthly from some firms and highly-placed Nigerians for giving them security cover.
Misau, a former police officer before being elected to the Senate, also accused Idris of granting fraudulent promotions to undeserving police operatives.
Misau, who is the Chairman, Senate Committee on Navy, had, on August 25 accused Idris of extorting money, ranging from N10m to N15m, from Commissioners of Police, State Mobile Commanders and Special Protection Units Commanders, for favourable postings.
He had argued that the level of corruption being perpetrated by Idris was so alarming and capable of undermining the anti-corruption stance of President Muhammadu Buhari.
The IG had denied these allegations while the Force Headquarters had accused Misau of leaving the force with forged retirement papers.
Idris had alleged that Misau was a deserter.
In his fundamental rights enforcement suit marked FCT/HC/CV/3158/17, the IG asked the court to declare both the Senate committee, set up to probe the allegations and the conduct of the committee as unconstitutional, null and void.
He also wants the court to make an order restraining the committee from inviting him, sitting, conducting any hearing on the allegation, discussing or making any report in respect of the planned investigation pending the determination of his suit.
Saraki had mandated the Senate Committee on Ethics, Privileges and Public Petitions to investigate the circumstances surrounding Misau’s disengagement from the Nigeria Police.
Through his team of lawyers, led by Charles Ogolu, Idris contended that the Senate President, without regard to relevant constitutional requirements in respect of the role of the Senate in investigations of allegations, set up the committee “in reaction to “these frivolous allegations” by Misau.
As part of his grounds of the suit, the IG states, “The applicant is a law-abiding citizen and has fundamental right to dignity of person under Section 34 of the Constitution of the Federal Republic of Nigeria (1999) (as amended), and Article 5 of the African Charter on Human and Peoples Rights (Ratification and Enforcement) Act.
“The applicant occupies a hallowed office as the Inspector-General of Police in Nigeria and is thus in charge of all police officers in Nigeria.
“One Senator Isa Misau, a member of the 2nd respondent (Senate), while raising a matter of urgent national importance, had sometime between September and October 2017, alleged that the applicant instituted roadblocks across Nigeria with the purpose of extorting money from unsuspecting motorists.
“The said Senator, while commenting on his motion, equally alleged that the applicant collects illegal fees by way of security protection given to corporate organisations, eminent citizens and oil companies running into billions of naira.
“The said Senator equally rained a personal attack on the person of the applicant that the applicant is having unwholesome relationship with the female officers in the force.
“Without the 1st respondent (Saraki), having regard to the relevant constitutional requirements in respect of the 2nd respondent’s role in investigations of allegations, he, in reaction to these frivolous allegations, quickly constituted a committee consisting members of the 2nd Respondent to look into the matter.”
The IGP contended that “the act of the first respondent (Saraki) in constituting the committee is ultra vires, unconstitutional, null and void.”
He added, “The said committee so constituted is acting ultra vires, unconstitutional, null and void.”
The Senate President had named the Deputy Chief Whip, Senator Francis Alimikhena, as Chairman of the panel; and senators Joshua Lidani, Binta Masi Garba, Duro Faseyi, Nelson Effiong, Obinna Ogba, Abdul-Azeez Murtala-Nyako and Suleiman Hunkuyi as members.
But the Federal Government had, on Tuesday, through the Office of the Attorney General of the Federation and Minister of Justice, filed two separate sets of charges against Misau, accusing the Senator in one set of spreading injurious falsehood against the IG.
Faulting the constitutionality of the committee set up by the Senate to investigate him, the IGP is therefore seeking, “A declaration that the committee set up by the Senate of the Federal Republic of Nigeria to investigate the allegations against Mr. Ibrahim Idris is unconstitutional, null and void.
“A declaration that the sitting and other conduct of such constituted committee to investigate the allegations against Mr. Idris are unconstitutional, null and void.
“An order restraining the Senate Committee howsoever designated from sitting, inviting Mr. Ibrahim Idris, hearing or taking a decision, against the current Inspector-General of Police, pending the determination of this suit.
“An order restraining the President of the Senate and the entire Senate from receiving and discussing any report submitted to it by the committee set up to investigate the allegation against Mr. Ibrahim Idris pending the determination of this suit.”
IG, Misau’s foreign trips frustrate Senate probe
Meanwhile, the Senate Committee on Ethics, Privileges and Public Petitions, which is investigating alleged corruption and misconduct against the IG, explained why it had delayed invitations to Idris and Misau, the IG’s accuser.
The Chairman of the Committee, Senator Sam Anyanwu, told The PUNCH on Thursday that the panel had yet to start working as both Misau and Idris had not been around to answer its invitations.
“We understand that the IG is out of the country and, of course, Senator Misau is also on his way out of the country for the IPU. We cannot take off without both parties,” Anyanwu told one of our correspondents.
It was, however, learnt on Thursday that the police boss, who was at the VII Congress on the Fight Against Kidnapping and Extortion in Cartagena, Colombia, was back in the country.
Anyanwu had exclusively told The PUNCH, on Wednesday, that the committee would continue with the probe of the police chief since neither the panel nor the Senate was joined in the suit filed by the AGF against Misau.
When Anyanwu was asked through a text message if his committee would go ahead with the investigation, as the AGF had filed a suit against Misau, he replied, “The committee or the Senate is not a party to the suit.”
Meanwhile, Misau has declined to comment on the charges filed against him by the Federal Government through the Office of the AGF.
The lawmaker neither returned calls to his two mobile lines nor replied to a message sent to him.
When contacted at his office, his legislative aide, who confirmed that the lawmaker was in, said his boss was “busy.”
The aide, after listening to one of our correspondents’ enquiries, went into Misau’s office and came out to say his boss insisted that he would not talk to the press.
Chairman of the Senate Committee on Media and Public Affairs, Senator Aliyu Sabi Abdullahi, who was asked for the chamber’s reaction to the suit filed by the Federal Government, said, “No comment.”
A member of the Senate, who declined to be named, however referred our correspondent to Orders 41(7) and 53(5) of the Senate Standing Rules, where it is stated that a matter that is pending in a court could not be treated in the chamber, while the lawmakers will continue with a case pending in the chamber before the case is taken to court.
“The truth of the matter is that we started the case first and whatever happens in the court does not concern the Senate. We are not a party to the case. Besides, if we have to stop work on every matter because it is before a court, it means an arm of government will be gagged,” the source said.
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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