Business
SHOCKING: Sen. Ken Nnamani quits PDP (SEE REASONS)
One of PDP’s backbone, Senator Ken Nnamani has left the party. He explained this in a statement below though where he is decamping to is yet to be known
Read Mr. Nnamani’s full statement below.
PDP, the Burden and My Conscience
Without any iota of bitterness in my heart, I have decided to disengage from the Peoples Democratic Party (PDP) and consequently step aside from partisan politics in the interim. I wish to express my profound gratitude to the party that gave me the platform with which I attained the height I did in the politics of our country.
How I wish the efforts I mounted with some of my colleagues (many of whom have left the party) to keep the PDP on the path of its noble vision and values had been supported by those who were privileged to be at the helm of affairs of the party, it would have been a different day for the PDP. It would have been a day of victory and pride not of defeat and shame.
I recall that the virus of corruption of values and mission was what those my colleagues and I set out to cure through the formation of the PDP Reform Forum in 2010/11. We worked hard to draw up a new direction for the Party.
This was to help steer the party away from illegality and impropriety so that PDP can fulfill its promise of being a vanguard of Nigeria’s political and economic development. A direction defined by strict adherence to basic rules and morality in the management of party affairs. Chief of these values is respect for choice of party members in electing party candidates for elections.
With more than half a decade of championing such a fundamental but simple idea, I regret that the PDP leadership continues to rebuff internal democracy. The party allowed itself to be blinded by hubris to believe that it will remain in power and influence for 60 years in spite of several gross missteps and grievous misnomer. We foresaw this ditch and prescribed how to avert falling into it. But we were dismissed as idealistic. Today the idealists have become realists.
Recently, even after our avoidable abysmal electoral defeat, I continued to believe that we can still chart a new course and retrieve victory from the jaw of defeat. I continued to urge the leadership of the party to believe that the time of defeat could be the time of renewal, and that renewal requires strategic thinking and bold actions.
I urged that this is a time to reembrace internal democracy and principled leadership to reposition the party for new politics. We are living in different times and we need new tools, ethos and codes of conduct. We need to become a party of technocrats and professionals and not a party of mercenaries and rent seekers.
We need to become the party of young men and women with new ideas and not a party of political dinosaurs. It is clear now that these pleas have fallen on deaf ears. Every day the crisis of confidence and the contradictions in our party deepen. We continue to lose members and morale. The rebuilding some of us had urged on the leadership is not happening. Those who led us to defeat are determined to continue to lead the party as undertakers.
I do not believe I should continue to be a member of the PDP as it is defined today. This is certainly not the party I joined years ago to help change my country. I do not also believe that the PDP as it is managed today will provide an opportunity for me to continue to play the politics of principles and values which I set for myself as a young man on leaving graduate school and working for a large multinational in the United States in the 70s and 80s.
Therefore, today I resign my membership of the PDP. In stepping out of partisan politics for the meantime, I will continue to be politically engaged. I will also continue to support the government and all the elected officers in Nigeria to repositioning the nation. I will also constructively criticize them when by commission or omission they take actions that could damage the prospects of transforming Nigeria into a productive, merit-based and honestly governed country.
As I leave PDP, I wish the leaders a new awakening and ethical revival. I cherish all the friends I made while in PDP and hope the friendship will continue to flourish.
God bless Nigeria.
Senator Ken Nnamani, GCON
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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