Business
Manu Dibango Receives First Ever African Award At AFRIMA 2016
Cameroon-born saxophonist, Manu Dibango, has revealed that the Legendary Award, conferred on him at AFRIMA 2016, was the first award of any kind in music, to him, from Africa.
The All Africa Music Awards, AFRIMA, held its third edition on November 6, 2016 at the Eko Hotel and Suites, in Lagos, which is the official host city of the prestigious awards ceremony.
For Dibango, who has won nearly all global music laurels, honouring him for the first time in Africa, was indeed historic. In his acceptance speech, he said, “I thank AFRIMA for this award because it means so much to me. This is the first award I have ever gotten in Africa.”
Manu Dibango stormed the world with an Afro rock hit tune, Soul Makossa, in the mid 1970s and with his characteristics saxophone tones, went on to hold the music world spellbound with the Makossa Rhythm and Dance, in the years following the release of that hit tune.
The 83-year-old was completely in his elements on the AFRIMA stage, as he reenacted the fire of yesteryears.
In the same vein, Sunday Adegeye, aka King Sunny Ade (Nigeria) is also counting AFRIMA Special Recognition Award as one of his career’s blessings.
The musician who clocked 70 years in September 2016 bagged the AFRIMA Special Recognition Award for his influence on world music.
KSA witnessed at AFRIMA 2016, a Tribute Session which was headlined by African music acts, Brymo and Seyi Shay, who churned out a remix of one of his hit tunes. Alongside the duo’s performance, KSA did a dance medley to the tune. Dancing with him on stage was Africa’s Waka Queen, Salawa Abeni. The sheer dexterity of Sunny Ade’s shuffle to the song, left guests in awe.
KSA arguably, would go down in history as one of African musicians who deliberately embarked early in life, on the commercial repackaging of Africa’s music for the western market.
His collaboration with Chris Blackwell’s Island Records, after the death of Bob Marley, is indeed the first concerted effort by a foreign music investor to deliberately want to tinker with creativity of home-grown African native music, for western dancehall tastes.
This opened another vista in the West’s interest in African native music, beyond FELA.
Sunny Ade, who was full of praises for AFRIMA and the Lagos State Government for the special recognition accorded him, remains an enigma, and has been nominated twice for the World Music Category of the Grammy. He is still a master of the stage and a dance star.
However, the tempo of the evening wore a somber look when Africa’s Jules Shungu Wemabadio Pene Kikumba, aka Papa Wemba, was mentioned for a post-humous Special Recognition award. He was honoured for his influence on world music. His wife, Mama-Marie Loxolo and daughter, Orphèe, received the award on behalf of the family.
Papa Wemba, who was called the King of Rumba Rock, long before boxing all time legend, Mohammed Ali, made the name popular in his historic fight “Rumble in the Jungle”.
Papa Wemba was one of the most popular musicians of his time in Africa. A fashion icon who popularised the “La Sape” look and style through his musical group, “Viva La Musica,” he died at age 66, while on stage at the FEMUA URBAN Music Festival, on Sunday April 24, 2016 in Abidjan, Cote Di’Voire.
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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