Business
‘Presidency wants to get me at all Cost’ – Governor Fayose
GOVERNOR Ayodele Fayose of Ekiti State, yesterday, accused the Presidency of wasting valuable time in a desperate plot to get him at all costs saying that the schemes would not in any way put food on the table of Nigerians.
Reacting to ‘revelations’ by the erstwhile Minister of state, defence, Senator Musiliu Obanikoro that he passed on funds from the Office of the National Security Adviser to support Fayose’s 2014 election, the governor charged the Economic and Financial Crimes Commission, EFCC to equally beam its searchlight on the campaign funds of the All Progressives Congress, APC. The development came as sources said that, the EFCC, may put Obanikoro to very stringent bail conditions. The return of Obanikoro to the country and the questioning by the EFCC might also have reopened fresh issues within the Peoples Democratic Party, PDP over the utilization of the money. Stakeholders in the PDP were about the time of the election on edge over claims and counter-claims that the money was not appropriately shared and distributed as earmarked. Even more, there were claims yesterday that the bank charges were not paid by the receivers. Obanikoro returned to Nigeria on Monday after many months away and proceeded straight to the offices of the EFCC. He was reported to have disclosed that he handed over the sum of $5.37 million to Fayose for the election. Besides Governor Fayose, others who reacted to the development yesterday, included the Ekiti State chapter of the All Progressives Congress, APC, Second Republic lawmaker, Dr. Junaid Mohammed, and erstwhile Lagos State Commissioner of Police, Mr. Abubakar Tsav.
In his reaction, Governor Fayose in a statement issued by his special assistant on new media, Mr. Lere Olayinka described the latest development as a plot by the presidency and the APC to divert the attention of Nigerians from the nagging problems of poverty and the suffering in the land. While calling on President Muhammadu Buhari to focus on good governance, he said: “This project ‘Fayose must be implicated at all cost’ will definitely not put food on the tables of Nigerians, and for all I care, the Economic and Financial Crimes Commission (EFCC) and its collaborators can keep running from pillar to post while I keep delivering good governance to Ekiti and its people.”
Dismissing reports that Obanikoro confessed that he passed on money to him, he said: “We have gone pass this stage of media trial, EFCC should rather keep its gun powder dry when we get to the bridge, we will cross it. They said more than this in the 2006 poultry scam blackmail, despite that, I am the governor today.” Noting that his reaction was to fulfil all righteousness and not leave anyone in doubt, he said: “those who arranged the dramatic and compromised return of Senator Obanikoro to Nigeria obviously did so in continuation of their project ‘Fayose must be implicated at all cost’, but I am not bothered because my election was legitimately funded. “However, if this is why they are intimidating judges and the judiciary, it won’t work as far as my own matter is concerned as no one can play God. “As far as I am concerned, I am busy here in Ekiti attending to the welfare and well-being of my people. I won’t be distracted.”
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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