Business
Lagos Police recovers hard drugs from Car in which Davido’s friends, DJ Olu, Chume died
The Lagos State Police Command has recovered substances suspected to be hard drugs from a car in which another friend of the hip hop musician, David Adeleke, aka Davido, died.
The deceased, Olugbenga Abiodun, aka DJ Olu, and one Chime Amaechi, said to be a crew member of the ace artiste, were found dead on Saturday in a BMW car in a garage on Block B, Banana Island, Lagos.
They were both aged 25. DJ Olu was the son of an oil magnate, Dapo Abiodun.
The deaths came three days after Davido’s friend, Umeike Tagbo, died at a bar in the Lekki area of the state after allegedly taking 10 shots of Tequila. He died on his birthday.
While the police awaited autopsy report to ascertain the cause of death, Tagbo’s girlfriend, Caroline Danjuma, had discarded insinuations that he died of drunkenness.
She also alleged that Davido ran away after dumping his corpse at a general hospital on Lagos Island.
However, the musician denied the allegation. He condoled with Tagbo’s family and promised not to speak further on the incident.
But as Tagbo’s death continued to attract controversy, another friend of Davido, DJ Olu, and his crew member, Amaechi died around 8pm on Saturday.
A source, who confided in PUNCH Metro, said operatives from the Ikoyi Police Division received a distress call that two young men were lying lifeless in a car.
“A team raced to the scene. On getting there, the lifeless bodies of two adult males were found in a BMW car, with number plate, KJA 631 AY, at the underground garage of Block B, Banana Island.
“After making some enquiries, the victims were identified as Olugbenga Abiodun, 25. He lived on Block 11 of the estate. The other victim, Chime Amaechi, was also aged 25,” the source said.
Another source said the duo vomited blood from the noses and mouths, adding that a preliminary physical examination suggested that they died of drug overdose.
She said, “They were found dead in the car and blood was coming out of their noses and mouths. A doctor was also at the scene. Physical examination of the bodies indicated that the victims must have died of an overdose of substances suspected to be hard drugs. The substances were found in the car.”
It was learnt that the corpses had been deposited in the Lagos State Teaching Hospital morgue for post-mortem to find the actual cause of death.
The Lagos State Acting Commissioner of Police, Edgar Imohimi, confirmed the deaths and the recovery of substances suspected to be drugs from the victims.
He, however, said the police would subject the substances to laboratory tests for identification.
Imohimi, who spoke with our correspondent on the telephone said, “They were found dead in the garage. Some substances suspected to be drugs were found in the vehicle. But in any case, autopsies would be carried out to know the cause of death. There were no marks of violence on their bodies. Let the autopsies explain the cause of death. The substances will also be analysed. We need expert opinion and it is being done.”
When asked the outcome of the autopsy conducted on Tagbo, the CP said, “It will be out soon. Investigation is in top gear.”
Meanwhile, Davido, had expressed grief over the loss of the DJ Olu, saying they had been together for four years.
“Olu, I swear tonite (tonight) is for you! We killed shows back-to-back together for four years straight! I love you, bro. God take control,” he wrote on his Instagram page, davidoofficial.
Efforts to verify whether Amaechi was a member of Davido’s crew were unsuccessful as calls to his manager, Asa Asike, failed.
A text message sent to the manager’s phone had yet to deliver as of press time.
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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