Business
‘We are not mates’ -Awujale of Ijebuland, Oba Sikiru fires Alake of Egbaland over ranking
The Awujale of Ijebuland, Oba Sikiru Adetona, has berated the Alake of Egbaland, Oba Adedotun Gbadebo, for categorising himself among the five top monarchs in Yorubaland.
At a fundraiser for a professorial chair instituted in his honour by the Olabisi Onabanjo University, Ago Iwoye, in Lagos on Thursday, the Awujale said the Alake was a junior oba in Yorubaland.
Reacting to a categorisation of monarchs by the Alake recently when the Ooni of Ife, Oba Adeyeye Ogunwusi, visited him (Alake), Oba Awujale said the Egba monarch was peddling falsehood and turning history upon its head.
The Awujale said, “The Alake, while receiving the Ooni in his palace, said Yoruba Obas (the ‘Big Five’ so to say) had been categorised with the Ooni in the first position followed by the Alaafin, the Oba of Benin, with the Alake coming fourth and the Awujale occupying the fifth spot in that order. He also went further to quote wrongly from a 1903 Gazette to support all the fallacies in his statement.”
He added that when he learnt about the comment, he contacted the Alake, who he added, vehemently denied saying so.
He added, “In a recent discussion between the Oba of Lagos, Oba Rilwan Akiolu, and me, we also touched on the same issue and the Oba of Lagos told me that he too had asked Alake the same question, which he had again denied vehemently.
“Regrettably, however, when the said statement few days later was continuously credited to the Alake on the pages of newspapers, I expected him to deny it or issue a rebuttal, but he did not do so.
Therefore, I consider it necessary to debunk the falsehood and misrepresentation of facts from the Ake Palace so as to put the records straight.”
The Awujale argued that the 1903 Gazette referred to by the Alake was just a newspaper publication.
“The first question to Alake is: who categorised the Yoruba Obas and when? I challenge him to produce the document of the said categorisation. It is a known fact that Alake was a junior traditional ruler under the Alaafin at Orile Egba before he fled to Ibadan for refuge as a result of the war then ravaging the Yorubaland.
“Following the defeat of Owu by the Ijebu Army in 1826, the Owus became refugees all over Yorubaland. Some of the Ijebu troops that fought the war proceeded to Ibadan, where they met the Alake and sacked him; consequently forcing him to seek refuge at Ake in Abeokuta in 1830, where, of course, he met the Osile, Olowu and Agura already settled at Oke-Ona, Owu and Gbagura sections of Abeokuta township respectively.
Even then, the Olubara of Oyo origin had always argued that all the aforementioned four rulers met him in Abeokuta and therefore claimed to be their landlord.
“To even refer to the Alake as ‘the Alake of Abeokuta’, not to talk of Egbaland, is a misnomer, as his control since his arrival at Ake in 1830 and till today is restricted to the Ake section of Abeokuta. The official Government Gazette testifies to this fact.
“In short, the Alake, from history and all available records, is a very junior traditional ruler in Yorubaland. His peers in Ijebuland are the Dagburewe of Idowa; Ajalorun of Ijebu-Ife; Akija of Ikija-Ijebu; Olowu of Owu-Ijebu; Oloko of Ijebu-Imushin; Orimolusi of Ijebu-Igbo and Ebumawe of Ago Iwoye.”
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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