Business
Man commits suicide, sets self ablaze in Abuja Hotel
A man believed to be in his early 60s, has set himself ablaze in a rented hotel apartment in Nyanya, a satellite town of Abuja, Federal Capital Territory (FCT).
The incident which occurred in the early hours of Thursday, also saw the entire hotel completely raid by fire, even as the deceased, Dr. Isaac Ojukwu, was equally burnt beyond recognition.
Narrating the ugly incidence to newsmen in Abuja on Friday, the Owner of the burnt Hotel and Associate, Professor at the Nasarawa State University, Keffi, Sylvanus M. Itodo (MON); said it still remained a shock, how an adult would just wish to take his own life, without a particular known reason.
“We were all sitting together that fateful night (Wednesday night) before he left to watch football match and I also left the hotel premises by 11pm, to go and sleep.
“It was around 12am that I recieved a phone call from one of the boys in the hotel, crying, that my hotel was on fire. Before I could get down here, the flame was everywhere; and it took the efforts of the Federal Fire Service to prevent the inferno from escalating to the surrounding houses,” Itodo lamented.
Our investigation revealed that, the deceased, who hailed from Ohuhu in Umuahia area of Abia State, had been staying in the apartment, Boundary Plaza Hotel, Nyanya, for the past 5 years.
Though we gathered that he was married to a German woman with kids, it was, however, revealed that, none of his family members, including the wife or children, had paid him a visit all through his stay in the hotel.
An eye witness account by his direct neighbour, Ohize Yakubu, who has been living in the hotel apartment since the day of his wedding in 2013; said, those lodging in the hotel made frantic efforts to pull the deceased out of the building but he struggled and ran back into the burning room.
“We went to watch Arsenal and Bayern match that night, I came back to the hotel and Dr. Isaac came in 5 minutes later. After some minutes, I started hearing strange sound from his room, which is directly opposite my room. He was not shouting loud enough, all I could hear was ‘yeh’, ‘yeh’.
“At first, I was scared to open the door, because I didn’t know if it was a robbery attack, until I heard and recognised the voice of one of our neighbours, beckoning on Dr. Isaac to open the door and come out, shouting fire, fire.
“Then I asked my wife to take my son and rush out of the building while I joined other neighbours and we forced his door open, we met him standing in the sitting room while fire was burning in the bedroom.
He was unhurt, we then held his hands and asked him to follow us. All of a sudden, he struggled his way from our hands and ran into the burning room.
“At this point, everyone ran back as the inferno had started escalating and all my belongings got burnt.
My wife only escaped with my son. I was engaged in the process of rescuing Dr. Isaac, and lost all my belongings in the process”, Yakubu narrated.
In the case of Mr. Promise Nkwachukwu Okem, a young man who arrived Nigeria from Ghana, one month ago, he was able to pick a few things from his room (downstairs), before the fire degenerated into the zone.
He, however, said, two ladies who just finished serving the NYSC and searching for jobs, were not that lucky, as they could not pick anything from their rooms, save for their night gowns. “They could not pick anything from their rooms”, Okem said.
As at the time of filing this report, no one could explain in clear terms, what could have gone wrong with the deceased, to have warranted him taking his own life.
Even though the corpse has been deposited at the Asokoro General Hospital by the Police, the family members are yet to arrive Abuja.
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
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society5 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING
You must be logged in to post a comment Login