Business
‘Oyegun, Oni and Prof Itse Sagay lack moral rights to complain even if President Buhari is called whatever names” – Gov. Fayose replies critics
The Ekiti State Governor, Ayodele Fayose, on Monday reacted to the comments by the National Chairman of the All Progressives Congress, Odigie Oyegun, his deputy, Segun Oni, and senior lawyer, Itse Sagay, describing their criticism of his letter to the Chinese government as a “brazen display of political hypocrisy.”
He also said the fact that President Muhammadu Buhari did not sign any direct loan agreement with the Chinese government during his visit to China vindicated his position that the country did not need a loan from that country but a collaboration that would ensure the transfer of technology from China to Nigeria.
Frontline lawyer, Itse Sagay, had rebuked Mr. Fayose for his action, saying he had no business interfering in the federal government’s process of securing a foreign loan.
“I think Fayose has a problem. The way I see it is that the man, who is on the brink of destruction, has no restraint about what he does,” Mr. Sagay was quoted as saying.
“ To start with, what is the business of a state governor about a loan that is being given to the federal government?”
It was Mr. Sagay’s view that provided the government could secure the loan, the governor had no business attempting to truncate the effort of the federal government.
But Mr. Fayose, speaking through his Special Assistant on Public Communications and New Media, Lere Olayinka, insisted he had right as a Nigerian citizen and stakeholder to speak out against the proposed loan.
“People like Oyegun, Oni and Prof Itse Sagay lack moral rights to complain even if President Mohammadu Buhari is called whatever names because they never complained when as a sitting president, Dr Goodluck Jonathan was called unprintable names by APC stalwarts and leaders,” he said in a statement issued in Ado-Ekiti.
“Where were the likes of Oyegun, Oni, Prof Itse Sagay and others when APC promoted crude politics and anti-Nigeria posturing to an unprecedented level when Peoples Democratic Party (PDP) was in power?
“It is on record that APC wrote to the United States of America not to sell arms to Nigeria, reported the country to the European Union, United Nations and went to the bizarre extent of reporting the then Chief of Army Staff, Azubuike Ihejirika, to the International Criminal Court (ICC), not for committing the kind of genocide committed against the Shiite Muslims in Zaria and Agatus in Benue, but for killing Boko Haram insurgents.
“It is also on record that instead of lending his voice to the federal government efforts to dislodge Boko Haram insurgents, President Buhari opted to describe the clampdown on Boko Haram as injustice against the North. He went on to accuse the government of killing and destroying houses of Boko Haram insurgents while the Niger Delta militants were given special treatment by the government.
“Even when Oni was the Ekiti State Governor as a PDP member, Action Congress (AC) as APC was then, wrote against his government move to obtain a N5 billion loan. Isn’t it then funny that because he is now in APC, the same Oni is now against Governor Fayose doing the same thing done against him by the APC elements in Ekiti State?”
Mr. governor since the federal government claimed it had recovered and still recovering trillions of Naira allegedly looted from the treasury, there was no need to borrow money from anywhere to finance the 2016 Budget.
“With the $200 billion they claimed is coming from Dubai, they said $700 million raw cash was found in Diezani Alison Madueke’s house, N3 trillion said to have been saved from the Treasury Single Account (TSA) and N4.5 trillion the Federal Inland Revenue Service (FIRS) said it will generate this year, what then is the rationale behind the federal government seeking any loan?,” he said.
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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