Business
Trouble as two factions of Boko Haram engage in Bloody fight in Borno
Two factions of the Boko Haram sect in Monguno area of Borno State engaged in a bloody fight over leadership tussle, sources told the AFP on Thursday.
The sect had split after the Islamic State group announced Abu Musab al-Barnawi, the son of Boko Haram’s founder Mohammed Yusuf, as the sect’s new leader to replace Abubakar Shekau.
But Shekau had insisted he was still in charge of the Islamist group, whose insurgency had killed at least 20,000 people since 2009 and displaced about 2.6 million people.
Sources say there have been deadly skirmishes between Boko Haram’s factions led by Abubakar Shekau and IS-backed Abu Musab al-Barnawi respectively.
Sources in North-East now say there have been deadly skirmishes between the two factions, even as Nigeria’s military seeks to finally rout the rebels in a sustained counter-offensive.
Last Thursday, several fighters from Shekau’s camp were said to have been killed in two separate gun battles with IS-backed Barnawi gunmen in the Monguno area of Borno State near Lake Chad.
Nigeria’s military declined to comment on the reported in-fighting when contacted by AFP.
But Mele Kaka, who lives in the area, told AFP that, “The Barnawi faction launched an offensive against the fighters of Shekau faction who were camped in Yele and Arafa villages.
“In Yele, the assailants killed three people from the Shekau camp, injured one and took one with them, while several others were killed in Arafa,” he told AFP on the telephone from the state capital, Maiduguri.
The attack, he said, prompted residents of Arafa to flee the area.
Kaka added that fighters from Barnawi camp had the previous day attacked gunmen loyal to Shekau faction in Zuwa village in nearby Marte district, killing an unspecified number.
Kaka added, “The Barnawi fighters told villagers after each attack that they were fighting the other camp because they had derailed from the true jihad and were killing innocent people, looting their property and burning their homes.
“They said such acts contravene the teachings of Islam and true jihad.”
AFP reported that the news of the factional clashes had been slow to emerge because of the destroyed telecommunications infrastructure in the North-East and restricted access to the area.
A civilian vigilante assisting the military against Boko Haram said there were sporadic clashes between the opposing fighters.
The three incidents described by Kaka were “very possible,” said Babakura Kolo.
“I don’t have news of the clashes but it is not surprising if they did occur because there has been similar in-fighting among the two Boko Haram camps,” he added.
Two weeks ago, there was a fierce gun battle in the Abadam area of Borno State, near the border with Niger, where Shekau’s fighters were routed, he said.
“It was a deadly fight and Shekau’s fighters were forced to flee,” Kolo said.
He added that hundreds of residents of the villages and their herds taken hostage by the fleeing fighters were allowed to go about their normal lives by the Barnawi faction.
Shekau has led Boko Haram since the death of Mohammed Yusuf in police custody in 2009, waging a deadly, indiscriminate guerilla war that has overwhelmingly targeted civilians
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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