Business
Mayhem as Policemen kill protesting youths in Kogi
There was pandemonium on Wednesday in Umomi community in the Ofu Local Government Area of Kogi State when some policemen attached to the Ugwolawo division opened fire on a crowd of protesting youths.
Two of the youths, identified as Okaye Omodi and Zekeri Mohammed, were shot dead by the officers, who immediately fled to their station.
PUNCH Metro gathered that the youths were protesting the arrest and detention of some residents, including a retired police officer identified as Peter Adama.
Our correspondent gathered that Adama and others were arrested around 11pm on Tuesday by some officers attached to the Special Anti-Robbery Squad.
A resident, Jeremiah Idege, said the operatives swooped on the community after some Fulani herdsmen reported that their cows had been killed by some residents.
Idege claimed that the allegation was false, saying that the herdsmen had actually invaded and destroyed the community’s farmland.
He said. “We have issues with the Fulani herdsmen and that has been on for as long as 15 years. They have been destroying our farmland with reckless abandon. As I speak with you, our community is wrecked.
“The little we have left was ravaged again by their cows recently and we reported the matter at the Ugwolawo Police Division. We were given four policemen to follow us to assess the level of damage done to our crops.
“Later, the police said we should come to a roundtable meeting with the herdsmen so they could resolve the case; but we refused. We just asked them to leave in peace. If we collect any money from them, they will say they have bought the lands and they will completely take over what we have left.”
It was learnt that a few days after the mediation failed, the herdsmen reported that some cows had been killed by the residents.
Our correspondent was told that some of the community leaders followed the herdsmen round to see the alleged dead cows, but found none.
Another resident of the community, Sani Emmanuel, said the herdsmen made the allegation because they were asked to leave the village.
Emmanuel said on Monday, the Fulani leaders reported again at the police station that another set of cows had been killed.
He said, “On Tuesday, around 11pm, a group of policemen entered our village and started breaking doors and ransacking our homes. They arrested a lot of people, including Adama, who is retired police officer.”
Emmnauel said the arrest did not go down well with the community youths, who trooped out on Wednesday to protest the continued destruction of their farmland without any help from the security agents.
PUNCH Metro was told that the youths blocked the roads and sang solidarity songs.
A witness, who did not want his name in print, said the protest was peaceful.
He said, “The protest, which started around 10am, was peaceful and it was within our village. Suddenly, armed policemen from the Ugwolawo division drove in and shot live bullets into the crowd. We all fled without knowing what had happened. The policemen had left before we knew they had killed two people.”
The corpses were said to have been abandoned on the road until the Ata of Igala, Mr. Michael Idakwo, reportedly arrived at the scene and ordered that the victims’ families should take them away for burial.
A resident said, “We don’t know who to cry to now that the police, who are supposed to protect us, have turned against us. We don’t know any human rights organisation to turn to. Please help us; we are helpless.”
The Police Public Relations Officer, Kogi State Command, William Aya, confirmed the incident, adding that the state Commissioner of Police had gone to visit the scene.
He said, “I don’t have all the details of what transpired now. But the state Commissioner of Police has gone to see what actually transpired and assuage the residents. I will get back when I finally get the details.”
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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