Business
Uncovered: The Multi-billion Naira Looting Game of Bukola Saraki and Kwara State Governor, Abdulfatah Ahmed + The thieving lifestyle of a political godfather and son
Kwarans Groan In Pain While Gov Ahmed And His Gang Get Richer
While most Nigerians quickly put the blame of impoverishing Kwarans on the table of Bukola Saraki, what they are oblivious of is that the Kwara governor, Abdulfatah Ahmed is becoming more dangerous than his benefactor.
Impeccable sources have confirmed the Peoples Democratic Party (PDP) allegation that Ahmed truly pays Saraki a whopping sum of N100 million every month from the state’s coffers.
In the statement, the PDP stated, “We have noted the desperate bid of the Kwara State government to cover up for Sen. Bukola Saraki in respect of the millions of naira that he draws monthly from the state’s lean treasury in the name of an obnoxious, immoral and insensitive pension law that he enacted for himself while in office.
This latest cover-up has only succeeded in raising more questions than answers. It has also evidently shown that the government’s spin doctors have exhausted their basket of lies – a thing that has become a routine pastimes in the life of the present APC-led administration in Kwara State.
“Arising from the government’s latest official cover-up for Saraki, we raise the following posers:
“If in truth Mr. Bukola Saraki had not demanded for security operatives since he left office three years ago, why then did the speaker of the Kwara State House of Assembly, Mr. Razaq Atunwa, on Tuesday, 10th September 2013 threaten to sue the IGP for allegedly violating the provisions of Section 2 (3) Paragraph H of the Third Schedule of Kwara State governor and deputy governor (payment of pension) Law 2010 which makes provision for over 10 different security attachés for Bukola Saraki? If the salaries of Bukola Saraki’s retinue of police and SSS security attachés were not being charged on the state meager allocations, why did the Kwara State House of Assembly subsequently pass a resolution describing the alleged withdrawal as ‘unconstitutional, ‘illegal’ and a ‘breach of law’ the legislators validly passed? If the KWSG is denying the assertion of the PDP on the over N100million that Bukola Saraki draws monthly from the public treasury in the name of pension benefit, it is also ready to deny its own speaker who had much earlier admitted that the security operatives are Bukola Saraki’s birthright pursuant to the pension law?
However, assuming for the purpose of argument that what Bukola Saraki takes home monthly is the sum declared by the secretary to the Kwara State Government, the moral question is, why should Bukola Saraki, who only spent eight uneventful and harrowing years in Kwara as a governor be receiving a pension package that triples that of an average permanent secretary that has spent over 30 years in fruitful service to the public? Why should he even draw any pension at all when he enjoys far more perks as a senator currently representing the same state in the National Assembly?
In the same vein, if the government is denying that it built the multi-million naira mansion at No. A1, Museum Street, GRA, Ilorin, which Kwarans now derisively call ‘Bukola Saraki Pension House’, why did the government order the foreign contractors handling the project to raise the fence of the building high up when the whistleblower, Sahara Reporters, sometime in May 2012, unearthed pictures of the innermost parts of the palatial mansion that has become a source of sorrow and regret to thousands of pensioners that pass through that place daily? More questions begging for answers!
Meanwhile, the fact that the government would so easily lie over Mr. Bukola Saraki’s publicly funded security apparatus, his ‘Pension House’ and other perks that he enjoys naturally presupposes that the whole indefensible rejoinder the KWSG gave against the verifiable revelations of the PDP is nothing but a pack of lies. These glaring lies have therefore vitiated all other cover-ups that the government dished out to the public in defense of a man that is currently standing trial in the case of IGP versus Sen. Bukola Saraki (FHC/ABJ/CS/152) for bleeding the state dry while in office and has refused to stop even out of office through his obnoxious pensions!
The fact that the KWSG could lie about the fact of the payment of the insensitive pension benefits of Bukola Saraki with so straight a face, is indicative of the disdain the APC-led government has for truth and facts. By plausible implications, it is also suggestive of the zero respect the government has for Kwarans that are demanding for answers from it in respect of the obnoxious pension law.
Lastly, for the avoidance of doubt, we insist that what the Kwara State Government received in federal allocations for the year 2013 was a total sum of N49,276,022,267.75 as against the N38.7 billion claim made by the government. This is because apart from the Gross Statutory Allocations, the government also received several billions of naira in both Foreign Excess Crude Savings Account and Value Added Tax (VAT) allocations from the Federal Account Allocation Committee (FAAC). If the government had hoped to sit on these huge funds and get away with it, we ask it to have a rethink for the secret is blown already.
We therefore ask the government to truthfully own up to its incompetence, do the needful by abrogating the obnoxious law as being requested by the overwhelming majority of Kwarans and finish up its remaining months in office to pave way for a more purposeful and truthful government” the state ended.
Despite the denial by the Kwara State governor that they have not built a house for Bukola or given him security as well as eye-popping allowances as pension benefits, we can authoritatively report with documents available that Gov. Ahmed is lying between his teeth.
We can also report without doubt that there is a particular mansion located on Abdulkadir Road, GRA, Ilorin, Kwara State, built for Bukola Saraki as his life pension quarters. Proud as ever and demanding the best of life, the senate president turned down the house and requested that Ahmed pays him the equivalent in cash which was promptly done.
As soon as he got the alert, we were reliably informed that Saraki went back to reclaim the house from the state government and no one coughed.
In line with our investigative nature to counter the denial of Gov. Ahmed that there is no bogus pension for Saraki, we can report that on 29th December 2010 Mr. Bukola conniving with his co-corrupt members in the State House of Assembly passed into law a bill that entitled him to these pension benefits:
Accommodation: (i) One residential house each for the governor and deputy at any location of their choice in Kwara State; (ii) One residential house in the Federal Capital Territory for the governor on two consecutive terms.
Annual Vacation: (iii) 30 days’ annual vacation outside Nigeria with 30 days’ estacodes and travel allowances for the governor.
Transport: Travel expenses allowances for the governor. (a) Three cars for the governor and in addition one pilot and two backup cars to be replaced every three years en bloc.
Furniture: Payable every two years en bloc.
Domestic Staff: Cook, steward, gardener and other domestic staff who shall be pensionable.
Medical: Free medical treatment for the governor and deputy governor and members of their immediate families.
Security: To be provided as listed below: Two SSS details for the governor and one female officer, one SSS detail for the deputy governor; eight policemen (one each for house and personal security) for the governor; two policemen (one each for house and personal security) for the deputy governor.
Drivers: Pensionable.
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- Keep a date as we bring to you report and images of the sorry state of Kwara schools, sporting facilities, the rotten multi – million naira Cargo Centre built by the state at the Ilorin International Airport, how Harmony Holdings Ltd owned by Dr. Bukola Saraki took over most of the state properties and other shocking revelations.
Source: TheIcons
Business
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.
Bank
Alpha Morgan to Host 19th Economic Review Webinar
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.
Business
GTBank Launches Quick Airtime Loan at 2.95%
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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