Business
IWEC FOUNDATION APPOINTS FIRSTBANK’S IBUKUN AWOSIKA AS NEW PRESIDENT OF ITS BOARD OF DIRECTORS
November 8, 2019. New York, NY. – The International Women’s Entrepreneurial Challenge Foundation (IWEC) has announced the appointment of Ibukun Awosika to their Board of Directors as its New President. Awosika is the Chairman of First Bank of Nigeria Limited, Nigeria’s Premier and Leading financial services provider.
Mrs. Awosika was elected to replace Miguel Valls, former president of the Barcelona Chamber of Commerce and president of the IWEC Foundation, who passed away last month. “The Foundation is very excited to announce the appointment of our new president,” statedRuth A. Davis, IWEC Chairwoman and distinguished former U.S. Ambassador. “Ibukun Awosika has been a solid, steady presence at IWEC since its inception, and she is also a past IWEC awardee. Ibukun has not missed one IWEC Conference since 2008 and has lent her voice and experience not only to our conferences, but to our meetings after joining our Board in 2017. We are delighted that our Board of Directors voted on her appointment, and we’ll introduce her as our president at our upcoming 12th Annual IWEC Foundation Conference in New Delhi, on November 10th.”
The Foundation’s 2019 Conference will focus on “Connecting Women Businesses Globally: Leading the Way to Innovation and Integration”. The event would be hosted locally by the FICCI Ladies Organization (FLO) of the Federation of Indian Chambers of Commerce & Industry (FICCI), which represents over 5000 women entrepreneurs and professionals across India. This year, IWEC welcomes 39 awardees from 18 countries, with a combined revenue of over US$5.7 billion among all awardees to date.
IWEC Foundation Vice Chair, Carmen Castillo, CEO of SDI International, adds: “Ibukun has demonstrated a significant commitment to IWEC over the years. Her breadth of knowledge extends from being an entrepreneur running SOKOA Chair Centre Limited, to overseeing the board of directors for the renowned First Bank of Nigeria Limited. We are looking forward to her wise counsel and to continuously drive IWEC globally as a source of support, connection and impact for women business owners all over the world.”
Ibukun Awosika heads Nigeria’s premier bank, and she is also the founder and CEO of the Chair Centre Group, an association of large companies in the manufacturing, retail, and financial security services. Mrs. Awosika further holds seats in the corporate boards of Cadbury Nigeria, Digital Jewel Limited and the Convention on Business Integrity, and she is a former chair of several other enterprise boards.
Ibukun is a graduate of Chemistry from University of Ife (now Obafemi Awolowo University), Nigeria, an alumna of the Chief Executive Program of Lagos Business School, the Global Executive MBA of IESE Business School, Wharton’s Global CEO Program, and the IESE and China European International Business School (CEIBS). Ibukun is a multiple award-winning entrepreneur and the first Nigerian recipient of the prestigious International Women Entrepreneurial Challenge (IWEC) Award as a nominee of the US Department of State in 2008. Ibukun is also a best-selling author and motivational speaker.
Ibukun was just honoured last month with the International Friendship Award presented at the IESE Business School by the Queen of Spain.
About the IWEC Foundation
IWEC is a New York-based international economic empowerment organization exclusively for women business owners, formed in 2007 with the assistance of the U.S. Department of State. In addition to the State Department, its founders include the Barcelona Chamber of Commerce, Manhattan Chamber of Commerce (MCC), FICCI/FLO Chamber in New Delhi. IWEC’s mission is to develop a global business network for successful women entrepreneurs, helping them gain and expand access to international markets by presenting a platform to exchange knowledge, experience and connections, and to promote dialogue among women entrepreneurs and business leaders throughout the world.
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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