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ONDO 2016: Oke raises alarm over release of N7billion to Akeredolu for rigging, enjoins Buhari, EFCC to beam searchlights on Works Ministry
The Olusola Oke Campaign Committee has cried out to President Muhammadu Buhari on the plans by members of his cabinet to surreptitiously release the sum of Seven Billion Naira (N7 billion) to the All Peoples Congress (APC) governorship candidate in Ondo State, Mr Rotimi Akeredolu from a bogus N10 billion infrastructural contract slated for Owo community of the State to perfect plans to rig the November 26, 2016 election in the State.
The Organisation while raising this alarm in Akure on Friday, alleged that the plan was hatched in the Federal Ministry of Works, Abuja wherein a bogus contract was without due process mooted for works on some infrastructures in Owo area of the State where Akeredolu hails from and then divert a substantial parts of the money towards rigging the election.
In a release issued by the Chairman of the Publicity Committee of the Organisation, Mr Kolawole Olabisi, “the boast of the APC which had been sedentary in its approach to canvassing for votes in the State is that they would rig this election even if only one vote is cast for them. They have been preaching it and now they have profess it with this dastard plan perfected and supervised by the top echelons of the Government to use government funds to make good their threat.”
According to the Olusola Oke Campaign Committee, the contract sum was perfected and released without going through due process and the money has now been earmarked as part of the war chest to be used by the APC to rig the election later this month.
“We want to appeal to President Buhari to be aware of what is being done by members of his cabinet in their vaunted ambition to win this election at all cost and immediately arrest the situation. While we have been going round the State canvassing for votes from the people, they have remained in their offices boasting that they will use Federal Might to rig the election even if nobody vote for them.
“The APC members in Ondo have been preaching this strange gospel of rigging and we are now amazed by this latest antics to win the election with the award of a strange contract for a whopping N10 billion for Owo community where Akeredolu hails from with a view to releasing a whopping sum of N7 billion to him to make the rigging plan a reality.
“The pertinent question to ask now is that, why a contract in Owo, which has one of the best road networks in Ondo State? Who approved this contract sum and why did it not go through due process such contracts had to go through?
“We want to assure them that the people of Ondo State are watching them and the consequences of rigging election here await perpetrators. Winning election should not be a do-or-die affair,” the Committee posited in the Statement.
While calling on the Economic and Financial Crimes Commissions (EFCC) and other anti-graft agencies in Nigeria to beam their searchlights on the activities of the Mr Babatunde Fashola led Federal Ministry of Works, the Oke Campaign Committee, reminded them that those who live in glass houses do not throw stones.
Its words: “If we have been probing those who were alleged to have embezzled our treasure-troves and those who doled out monies without following due process, it will be strange that those sitting on the throne of Justice now are equally perpetrating the same offence they sit in justice over others, it is such an absurd development.
“We, therefore, called on President Buhari, a noted democrat and a man fabled for his aversion for graft to immediate call to order those attempting to make nonsense his fight against graft and election rigging the order of the day to order as it portends grave danger for the nation. Election must be free and fair and the will of the people must be allowed to prevail.”
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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