Business
OONI HOSTS AJE FESTIVAL, SAYS CULTURE ENHANCES ECONOMIC GROWTH
The Ooni of Ife and Arole Oduduwa, Ooni Adeyeye Enitan Ogunwusi, Ojaja II, has said that survival of the African people rests heavily on the sustainability of the Traditional Culture saying government and the people must collective utilize the culture as a way to greatly record productive economic advancement.
Ooni Ogunwusi who is the Spiritual leader of the Yoruba race worldwide made the disclosure on Monday during the celebrations of annual Aje Festival (deity of wealth) at Ile-Ife.
He said that Nigeria is abundantly blessed with cultural tourism potentials capable of turning the country to a viable economic nation.
The African foremost monarch added that the county’s cultural potentials should be productively showcased as culture does not affect religions saying Culture does not even have a specific religion.
“As Christians or Muslims, we all need to respect our cultural heritage.”
“In 2017, we prayed during the Aje Festival and we centered our prayers on the economic recession, and within one week, we surprisingly experienced dollar crash from about #480 to #350. “
” We have prayed and very soon, the economy will improve tremendously “. Ooni said.
“AJE is the spirit of market profitability. That is why it’s festival is very important to all humanity, because nobody can survive without it”.
“If we do business, profit is expected, if you work you expect stipends at the end of the month, so that is simply ‘Aje’, ” , he expressed.
He urged the Youths to be industrious so as to fulfill their destiny and not to take the short-cut route to success.
The Co-chairman of National Council of Traditional Rulers of Nigeria implored Youths to be agents of peace and refuse to engage in brigandage as election period is drawing nearer. He also prayed for the peace and progress of Ile-Ife, State of Osun, Nigeria, Africa and the world as a whole.
“Don’t let politicians use you for thuggery or election violence as you too can be in their positions if you discover yourself and remain focused and full of determination. ” he counselled.
“As we are gathered here today to celebrate AJE the festival of wealth, the Almighty Olodumare(God) will answer our prayers, he will abundantly give us peace and economic progress in Ile-Ife, in the State of Osun, in Nigeria, in Africa and. the world at large.”Ooni prayed
In her speech, the Iyalaje of Apapa, Lagos and the Chief Promoter of 2018 AJE Festival, Princess Toyin Kolade, said that Yoruba culture is too important and rich to be ignored if we a must be seen as a serious people who care for the future generations because it depicts a significant perspective.
According to her, Aje is a festival of wealth which radiates on all the nooks and crannies of the world from its root at Ejigbomekun market, the world’s oldest market located at Ile-Ife, the cradle of Yoruba race.
She called Nigerians to value their cultural heritage, rather than ignoring them in favour because of foreign Culture and religion.
Veteran Yoruba Film Actress, Mrs Idowu Philips popularly called “Mama Rainbow” who led other Nollywood actors/actresses including Saheed Balogun in her short speech eulogised Ooni Ogunwusi for his unprecedented strides especially in Peace making and Cultural tourism revolution. Mama Rainbow urged all the other Traditional rulers in Yorubaland to emulate the Ooni who she described as “uncommon king”.
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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