Business
Police arrests 13-Year old ‘armed robber’ in Lagos
At an age his mates still ‘suck’ from their mothers’ breast, a 13-year-old Opeyemi Johnson has graduated into full time gangsterism.
But his sojourn into crime world was cut short by men of the Lagos State Rapid Response Squad (RRS), when Johnson and some suspected members of the notorious Awawa cult group were arrested.
He was nabbed after he alongside members of his cult robbed a lady of over N58, 000 and other valuables.
Johnson, a Junior Secondary School (JSS) student, said he was raised by his mother and knew his father, a Congolese
He was arrested around Fagba in Agege on Sunday morning after he, alongside 20 others dispossessed road users of their belongings.
It was learnt that the suspect and his gang members were returning from a street carnival before they started terrorising passerbys, snatching their bags, phones and other valuables.
RRS men on patrol were said to have caught Opeyemi who later led the police to arrest another suspect, Mohammed Korede, 19.
Confessing to the crime, the teenager said their leader, a certain ‘Ijaomode’ ordered them to rob anyone they saw on the road from the carnival.
“I followed my cult members to carnival at Power Line, Agbado Crossing. On our way home, our Capol, nicknamed ‘Ijaomode’ instructed us to start robbing anybody we meet on our way.
“We robbed not less than 10 people before we got to Fagba Junction. At this point, we saw a young girl, (Naisha Akiomon) and immediately surrounded and collected all her belongings including phones and jewelry. She later went to bring RRS men who chased us and arrested me while my colleagues managed to escape,” he said.
On how he joined the cult, Opeyemi said he was forced into the group by one Ola last year.
“I was initiated into the group about a year ago. It was one brother whom I only know as Ola that introduced and forced me to join the group.
“It was on a Sunday evening at Abattoir, Agege. Ola took me to one dark room and ordered me to kneel down. In that room, I met six other members already waiting for my arrival.
“The cult leader, ‘Ijaomode’ blindfolded me with black clothe and all the six members descended on me. They gave me a thorough beating.
“After a while, they stopped. They gave me alligator pepper to chew and also an alcoholic drink to gulp it down. One of them stood up and he drew tattoo on my forehead and below my eyes as sign of being a bonafide member of the group.
“Since that time, I have been going out with them for operations. I stopped going back home. I used to sleep in a shanty plank room at Abattoir.
“Initially, I did not know it would turn out to be this. Immediately I saw their way of life, I wanted to quit but they threatened to kill me if I dared,” said Opeyemi.
Reliving her ordeal, Akiomon said that she was on her way to Lagos Island around 4am when about 15 armed boys surrounded her and collected her N58,000, three ATM cards, Permanent Voter’s Card (PVC), phones, among others.
“I had to run to the other side of the road to shout for help. Fortunately, I saw RRS operatives patrolling and I explained everything to them.
“They followed me to the crime scene but immediately the thieves saw us coming, they started running. The Police chased them and arrested one of them,” she stated.
When contacted, the state command’s spokesperson, Dolapo Badmos, a Superintendent of Police (SP) confirmed the arrest, adding that the two suspects have been transferred to Gender Department of the police command for necessary actions.
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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