Business
Presidency speaks on NHIS crisis, reacts to Buhari’s alleged bias on corruption fight
Presidential spokesman, Garba Shehu, has said that the presidency has stepped into the crisis rocking the National Health Insurance Scheme (NHIS) following the purported suspension of its Executive Secretary, Prof. Usman Yusuf.
Yusuf resumed work on Friday, a day after his fresh suspension by the council.
But some workers acting under the aegis of Association of Civil Servants of Nigeria, and Medical and Health Workers Union of NHIS, almost prevented him from gaining entrance to the office on Monday.
Their colleagues of the Nigeria Civil Service Union in support of Yusuf mobilised themselves and countered the protest.
The situation that almost degenerated into security breach was, however, contained with the intervention of a combined team of police, civil defence and state security operatives.
On Tuesday, Shehu who featured on Channels TV Sunrise Daily in Abuja, said Secretary to the Government of the Federation, Mr Boss Mustapha, and the Minister of Health, Prof. Isaac Adewole, had intervened in the NHIS crisis with a view to finding lasting solutions.
Shehu stated that the NHIS crisis had been ethnicised and politicised by some interest groups within and outside the agency.
“Did the board follow due process in suspending this gentleman? There are opinions that said `no they haven’t’.
“Again we all have to do the right thing all of the times. I don’t deny the fact that there is a lot of work to do – (the crisis) is complicated by the fact that the whole thing about the NHIS has been ethnicised and politicised.
“Even a political party was issuing a statement on matters that are unknown to it.
“I’ll tell you one thing, as we speak now, you know that no matter whatever mistakes this gentleman may have made, and that is to be proven because I don’t have the records to say yes or no, he has launched a major reform in that institution which had blocked access to public resources.
“Money from the NHIS is not money belonging to government, is money taken from your salary, from my salary.
“If we have been enlisted, we are supposed to get treatments when we fall ill then you should ask the question in 13 years of the NHIS how many Nigerians have received the treatments.
“Yet you have HMOs, these vendors, taking N5 billion every month, money that is just being shared and somebody came and said, `look, this can’t go on’ and with strong support from this administration the N5 billion has been reduced to N1.3 billion.
“And even at then, the administration is not satisfied. We want to see healthcare delivered to the citizens of this country. So there is a lot of work to do,’’ he said.
The presidential aide stated that he was not in the position to challenge the allegations of wrongdoings levelled against the executive secretary in some quarters.
Shehu, however, maintained that the two chambers of the National Assembly had previously cleared the Executive Secretary of the allegations against him.
He also dismissed the accusation of `double standard’ by the Buhari administration while dealing with cases of corruption being levelled against public servants or political office holders in the country.
He said it was wrong to compare the case of former Secretary to the Government of the Federation, Mr Babachir Lawal, and that of the NHIS scribe.
“Well, there is no double standard there either than to say that the pictures that the government is looking at many Nigerians perhaps may not be seeing those pictures,’’ he added.
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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