Business
‘Its unfortunate my Father named me Lai, it made it easy for opposition to see me as a Liar’ – Lai Mohammed laments
Minister of Information, Culture and Tourism, Alhaji Lai Mohammed, in an interactive session with newsmen in Lagos at the weekend, speaks on issues of national interest. BOLA BADMUS brings these excerpts:
Recently, the Customs General, Ahmadu Ali, said you have 50 per cent PDP members in this administration, he even said they are more than 50per cent and that they have constituted problems for the administration, the question is, why can’t the president do something about it?
I think he has actually explained that as early as 2015, he did direct that they should bring nominations for constituting the boards and he was very clear with the directive as to who should make the boards, who should qualify. I remember he said anybody that has been a frontline actor in the run up to the elections, anybody who had either contested for primaries within the party and had lost or because they agreed on consensus and was asked to step down, anybody who actually contested elections, either at governorship level, National Assembly level or even state level against either PDP or Labour Party and had lost that these are the main stakeholders in the party, these are the people who ought to be commended for the appointments. But as you know, Mr President himself alone cannot do all these, all politics that we play is local.
I agree that those are charged with that responsibility failed and that’s why we are in the mess we are now and he has promised that there is going to be a fresh exercise because it is one thing to dissolve the board but you can’t leave them vacant and I think we are going to see a lot of progress in that direction.
But do you believe they are making money to fight your government, these PDP people that are still in your administration?
Well, I wouldn’t know where they are making the money from, but clearly in politics, they always say never empower your enemies.
Even now, two years into the office of President Buhari, some of those who worked for him have not been compensated.
That is why I used the example that I used for some governorship candidates/ aspirants, I used the example of National Assembly.
Again, don’t forget, like I say all politics is local. If I am the chairman of Delta State APC or I am a leader in Delta APC, and I given some criteria, I may decide to bypass those criteria. Mr President is too busy to look at all those things.
I know of many states for instance where people are complaining that it is not those who ought to be compensated that were compensated. Again, it’s not possible for you to compensate everybody at the same time. Certain Boards are not due for dissolution because some of them are tenured and certain boards need specialists. Certain Boards are governed by certain rules and so like you said the truth of the matter is that Mr. President as far back as 2015 gave this assignment to party members and they failed, they failed Mr President, that’s honest truth, I know.
What about the Baru and Kachikwu matter?
I think we should not go over Baru and Kachikwu’s case. To the best of my knowledge, Kachickwu made his point and Baru also, but the fine thing is that I think over time, we’ve seen Baru and Kachikwu working together, but the position of government is that I think you can’t start talking about fraud, there is nothing about $25billion fraud, not in the least.
The opposition, notably the PDP of course thought that oh, for once, we have our smoking gun against this government, but I can assure you that it is not possible under this administration to have $25billion fraud, the entire economy would collapse. There is no $25billion fraud, yes, there could have been lack of communication, understanding on procedures, but I think all that has been put behind us.
After two years, APC finally held both the caucus and NEC meetings, which to some extent by your own constitution ought to have taken place earlier than that they were held, is it that you have really changed or the meetings were held out of pressure?
Now, frankly speaking, there is no party that came to power like APC that is not bound to have the kind of challenges we’ve had. If you go back to ANC of those days and even what APC is facing today. Now our case is like we are in a rainbow party. You see people often forget that APC didn’t come into being until July 31, 2013. APC did not elect its executive council until June 2014. Within two weeks of the election of the executive, it had to face elections first in Ekiti, then few months later in Osun.
Now, what I am saying is that if you look at APC, it is made up of desparate political parties, ANPP, CPC, ACN, DPP, part of PDP, part of APGA. It takes time for these to jell and work together as a party. Now less than a year, within eight months, of being a political party, we had to face elections and when we won this election, even some members of APC had not even known one another or sat down together. So the hiccups that we experienced is normal and before we could settle down, our first test, you know was the election of National Assembly leadership which showed the political fault line of the party. Now we thank God, we are gradually mending all those fences, the party is working more together as a whole, the major gladiators now are back on the same page as you could see from what transpired at both the caucus and the NEC meetings.
Are you in any way afraid that your government might not go beyond 2019?
Now, as to whether we are afraid that the PDP would win, I can tell you absolutely, we couldn’t even contemplate it because it would be tragedy for Nigeria to fall back into the hands of PDP.
Look, we have very painstakingly taken this country through hell, I mean, they dropped us in hell, and we are taking you people out of hell, we can’t come back to Egypt. No, I am serious, it is not about APC, it is about President Muhammadu Buhari, it’s like the kind of revelations that are coming out, the kind of rot, you want those people to come back and preside over the affairs of Nigeria again.
Now, let me ask you for instance what would happen to the investigations that have been held if the PDP should win in 2019? They would be swept under the carpet.
There have always been investigations.
No, no, no, this is the first time in the history of this country that you are making real recovery. Only some days ago, we signed an MoU with the Swiss government to return $321million that was stolen from the country. I just told you that this is the first time this country is looking at our problem from a very realistic and very pragmatic view point. We are not talking about what we are going to achieve in two years or three years or four years, we are thinking of getting a solid foundation for a Nigeria that my children and your children will be able to thrive.
Unfortunately, the reform agenda is always longer than a political agenda and in many parts of the world, they plan for 10 years, they plan for 15 years, nobody plan for four years. And even if you look at our plan, we are talking about 20 years even though we know that there could be change of administration, but you do not think in short term. What I am saying is that Nigerians should never, never pray for PDP to come back and I am being sincere because I know as a minister the kind of challenges we are facing.
Do you know that when we negotiated with the Swiss government to return Abacha’s loot, they gave us conditions, one of them is that we must identify what programme we want to use the money for and that the World Bank would supervise what we are using that money for and when we now argued that we are sovereign country, you can’t dictate to us how we are going to spend the money that was stolen from our country and you are returning to us. They said yes, but when we returned part of it to your country, you relooted it under Jonathan, which is true. So I have already said that, we have delivered, I am serious, we are winning.
How do you feel when the opposition try to turn your name from Lai to lie to connote that you are a liar?
The fact that I happened to be the face of opposition and PDP has not forgiven me and they won’t. Now they look at the magnitude of what has happened to them and they hold me singularly responsible which is not fair. Now becoming the face of government again as Minister of Information, it is like saying, ‘We will deal with you.’ So it is automatic. Whatever comes from Lai Mohammed, we must shoot it down as a fake news, as a lie and unfortunately my father named me Lai also. So it is very easy for them. But what I challenge them every time is, please, give me what I have said which is not true. Emotionally you might not agree with me, but in terms of facts and figures, I have never said anything which you can dispute. You don’t have to like it but those are the facts. For them, it is not about the message, it is about the messenger. Incidentally today, with the social media where there are no rules of engagement, where there is no verification for any story, it is very easy to label anybody as a liar.
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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