Business
MKO Abiola : His early life, career, and Death
His name, Kashimawo, means “Let us wait and see”.[6] Moshood Abiola was his father’s twenty-third child but the first of his father’s children to survive infancy, hence the name ‘Kashimawo’. It was not until he was 15 years old that he was properly named Moshood, by his parents.
MKO showed entrepreneurial talents at a very young age, at the age of nine he started his first business selling firewood. He would wake up at dawn to go to the forest and gather firewood, which he would then cart back to town and sell before going to school, to support his old father and his siblings. He later founded a band at age fifteen where he would perform at various ceremonies in exchange for food. He eventually became famous enough to start demanding payment for his performances and used the money to support his family and his secondary education at the Baptist Boys High School Abeokuta, where he excelled. He was the editor of the school magazine The Trumpeter, Olusegun Obasanjo was deputy editor. At the age of 19 he joined the National Council of Nigeria and the Cameroons ostensibly because of its stronger pan-Nigerian origin compared with the Obafemi Awolowo-led Action Group.[7]
Career
In 1956 Moshood Abiola started his professional life as a bank clerk with Barclays Bank in Ibadan, South-West Nigeria. After two years, he joined the Western Region Finance Corporation as an executive accounts officer, before leaving for Glasgow, Scotland, to pursue his higher education. From Glasgow University he received a first class degree in accountancy,[8] and he also gained a distinction from the Institute of Chartered Accountants of Scotland. On his return to Nigeria, Abiola worked as a senior accountant at the University of Lagos Teaching Hospital, then went on to Pfizer, before joining the ITT Corporation, where he later rose to the position of Vice-President, Africa and Middle-East, of the entire corporation, which was headquartered in the United States. As a result, Abiola spent a lot of his time (and made most of his money) in the United States, whilst retaining the post of chairman of the corporation’s Nigerian subsidiary. In addition to his duties throughout the Middle-East and Africa, Abiola invested heavily in Nigeria and West Africa. He set up Abiola Farms, Abiola Bookshops, Radio Communications Nigeria, Wonder Bakeries, Concord Press, Concord Airlines, Summit Oil International Ltd, Africa Ocean Lines, Habib Bank, Decca W.A. Ltd, and Abiola football club. In addition to these, he also managed to perform his duties as Chairman of the G15 business council, President of the Nigerian Stock Exchange, Patron of the Kwame Nkrumah Foundation, Patron of the WEB Du Bois foundation, trustee of the Martin Luther King Foundation, and director of the International Press Institute.[9]
Death
Abiola died under suspicious circumstances shortly after the death of General Abacha. Moshood Abiola died on the day that he was due to be released, on 7 July 1998.[27] While the official autopsy stated that Abiola died of natural causes, Abacha’s Chief Security Officer, al-Mustapha has alleged that Moshood Abiola was in fact beaten to death. al-Mustapha, who was detained by the Nigerian government, but later released, claims to have video and audiotapes showing how Abiola was beaten to death. The final autopsy report, which was produced by a group of international coroners has never been publicly released.[28] Irrespective of the exact circumstances of his death, it is clear that Chief Abiola received insufficient medical attention for his existing health conditions.
As recounted at the time in a BBC interview with special envoy Thomas R. Pickering, an American delegation, which included Susan Rice, visited Abiola and during their meeting with him, Abiola fell ill,[29] with what was presumed to be a heart attack which caused his death.
A clause in Abiola’s will required that his heirs could prove that he was their father. Over seventy people were able to show that Abiola was their father using DNA tests. Seven children were descended from his second wife, Alhaja Kudirat Abiola.[30]
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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