Business
Shina Peller, Oritshefemi in war of words as Club Quilox accuses Oritshefemi of lying over stolen N8.5Million Jewelry
Club Quilox has issued a statement in the aftermath of the brawl between popular Nigerian singer, Oritsefemi, and a member of the security team at the nightclub on Saturday.
In the statement, signed by the PR and Marketing Manager of Quilox, Jessica Ulo Oputa, , the management of the club, refuted Oritsefemi’s claim that N8.5 million worth of jewellery was stolen by the club’s bouncers.
To back their claim, Quilox also attached graphic pictures and a video of the bouncer the musician assaulted.
See the statement below
In the early hours of the November 12, 2016, an unfortunate incident occurred between music act Oritsefemi and a member of the security team at Club Quilox
The incident started at about 2 a.m. Saturday morning when Oritsefemi came into Quilox without prior reservations or table bookings. It is important to note that tables are allocated to customers who have made prior paid table bookings in advance of their arrival except such customer is a patron or member of the club and tables are allocated according to availability in such case. However Oritsefemi who did not fall into any of the categories above approached a patron and after pleading was accommodated on patrons table, but with the understanding that other guests of the said patron were still being expected to join the table shortly which Oritsefemi agreed to. It is important to note that this is a table that could only accommodate a maximum of six people.
In a surprising turn of events, Oristsefemi who was drinking from the patrons’ bottle, threw caution to the wind by attempting to sit eight of his guests at the table, the surprised Patron strongly rejected such effrontery and invited the bouncer guarding the floor to intervene.
The bouncer politely approached Oritsefemi and told him that the Patron who owned the table did not want any of Oritsefemi’s guest joining in as the patrons guests were still being expected. However, Oritsefemi in a fit of unprovoked rage slapped the bouncer then proceeded to breaking a glass in his hand and stabbing him in the eye. Despite his position or the power he thinks he has as a celebrity, this is not an excuse for inflicting grave bodily harm on another human being.
The scene quickly became rowdy as other customers rushed to the table and confronted the artist for his violent behaviour, our security team quickly stepped in to salvage the situation by carrying Oritsefemi out of the club (this is our standard procedure for violent altercations) while other members of staff focused on giving First aid treatment to the bouncer who almost lost his eye and had already lost so much blood. Oritsefemi faced by an enraged crowd outside and perhaps realizing the gravity of his offense pretended to collapse. The artist and the bouncer were subsequently rushed to a nearby hospital
The bouncer affected insisted on pressing charges as thus he and Oritsefemi went from the hospital Bar Beach police station, where Oritsefemi accepted his offense and pleaded for mercy, he was granted bail at November 12 and 13 and advised to report back to the station on Tuesday November 15, 2016.
We were hesitant to release a press statement as several well meaning people have attempted to intercede on behalf of the artist, but after his malicious and grossly false account of the events that occurred, it is only fair that we defend the integrity and ethos of our organization.
However, there was a little drama on instagram this afternoon as Oritshefemi Shaded Shina Peller by saying the only Shina he knows is Sir Shina Peters while Shina Peller responded by uploading a picture and captioning it ‘Say No to drugs and Violence.
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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