Business
‘There is no place for you in our party’ – APC tells Fayose
The Ekiti Chapter of the All Progressives Congress (APC) has told Governor Ayodele Fayose to forget any hope of joining the party from the Peoples Democratic Party because he is not wanted.
This was in reaction to reports that quoted the governor as saying that he may seek another political platform to prosecute his succession battle in the 2018 governorship poll.
Last week Wednesday, Fayose was quoted to have said:
“I don’t know the platform I will use for the 2018 election yet and at the appropriate time, I will tell you. We are still studying the situation. We have to play the game left, right and centre and whoever we are going to use and the platform, you will all be part of the process because party politics is about the people.
“You all saw how people sold their votes in Ondo State, I am confident that that will not happen in Ekiti. I am close to the people; you are the source of my strength. Even if it requires just 48 hours to any election, if I tell you where to go, you will surely follow me there.”
However, in a statement issued by its Publicity Secretary, Taiwo Olatunbosun on Sunday, the APC said Fayose “is jittery following PDP’s loss in Ondo and is considering defecting to APC to save his skin.”
The statement read: “Fayose is always seeking to be relevant in party politics with his party dominating at the centre to enable him get away with his many cases of illegality and lawless conducts.
“Fayose has been jittery and confused since the PDP lost Ondo State to the ruling APC against all odds and calculations and as a political gambler, who has traversed many parties since 2003 till present, starting from the PDP to APGA, Labour party, romanced briefly with ACN and PPA before moving back to the PDP even as he romanced AD in the last week governorship election, he is at his wits again to save his skin.
“Sensing that PDP is in the throes of death, he is contemplating dumping the party for APC, but there is no place for him in APC as he is only looking for an escape route from prosecution for his various infractions on the law since his first aborted tenure as governor.”
“Fayose is a blight to any political association he finds himself. For instance, he chased those who helped him win election in 2003 away from PDP and attacked several other members with thugs before he was sacked over criminal conduct only to return to the same party to cause more confusion in Sheriff/Makarfi fractious PDP where he paid his benefactors, including Buruji Kashamu, with evil.
“APC will never accept such a destabilising character and does not have a space for such a demagogue without any ideological bent other than to seize state powers for personal benefits after causing confusion and disaffection among the leaders and running members to the bush.”
“No amount of defection to any party would save Fayose from prosecution.
“It is an act of insincerity on the part of Fayose, who daily boasts that he is the leader of opposition, to now dump his party for the party in power thinking that would save him from prosecution.
“The party he is planning to defect to is the same party whose members he has clamped in jail for over two years on trumped-up charges and whose many members were harassed, maimed and chased out of town shortly before the Presidential and National Assembly elections in 2015.
“Fayose is a trickster and a professional conman who deceives his hapless followers by saying things he does not mean and making promises he does not intend to keep.
“His latest hint that he may dump PDP which he later recanted has exposed him as a man of unstable character who should not be taken seriously.”
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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