Business
”We didn’t file a court case against MTN” – Etisalat faults reports
Last week, there was a report that a war is going on between communication giants, Etisalat and MTN Over the acquisition of Visafone and that Etisalat has taken a legal action against it.
Reacting to this allegation, Etisalat has come out to debunk the reports.
In a statement, the Etisalat said “Our attention has been drawn to misleading insinuations making the rounds in the media that Etisalat Nigeria has filed multiple suits against the Nigerian Communications Commission, NCC and MTN Nigeria. The insinuations have arisen largely from a press statement reportedly issued by MTN Nigeria and published by some print organisations and online media platforms under the headline, ‘MTN confirms legal fireworks with Etisalat over Visafone.’
“Etisalat Nigeria is compelled to set the facts straight on the intent and status of the legal action it instituted against the Nigerian Communications Commission (NCC) and MTN Nigeria in July 2015, due to the misrepresentation of facts about the case as contained in some print and online media reports of Wednesday 9, February 2016.
“Etisalat wishes to state categorically that at no time were multiple suits filed either against the NCC or MTN on the same matter as insinuated. Etisalat wishes to affirm that the current litigation against MTN Nigeria and Visafone is on a completely different issue. It is germane to state for clarity that the current litigation is not pricing or tariff related. The suit under reference was instituted by Etisalat Nigeria against MTN Nigeria and Visafone Ltd to challenge MTN’s use of the 800MHz spectrum following the acquisition of Visafone. It is therefore materially different in intent from the former action.
“The current action is considered necessary, as it will entrench the dominance of MTN in the retail data services market. It would be recalled that MTN Nigeria was declared dominant by the Nigerian Communications Commission ‘NCC’ in 2013 and remains dominant in the wholesale leased line and retail voice markets. The use of the 800MHz spectrum to deploy broadband services ahead of its competitors, particularly those who prior to MTN’s purchase of Visafone, held similar spectrum bands as MTN, will further entrench MTN’s dominance in the Nigerian telecommunications sector.
“Sometime in 2015, Etisalat Nigeria’s attention was drawn to a waiver granted by NCC to MTN Nigeria to offer a 30% differential between its on-net and off-net retail tariffs, contrary to the obligation imposed on MTN Nigeria under the Determination of Dominance. Etisalat Nigeria thereafter filed an action against NCC and MTN Nigeria seeking a reversal of the waiver as it was in contravention of the subsisting obligation imposed on MTN Nigeria under the Determination of Dominance. In response to Etisalat Nigeria’s legal action, NCC filed processes stating categorically that it had directed MTN Nigeria ‘to maintain status quo of the dominant obligation, that is, to revert to maintaining parity between on-net and off-net tariff charges with immediate effect’.
“This was effectively a reversal of the waiver that Etisalat Nigeria had challenged in that particular suit. Consequently, Etisalat Nigeria filed a notice of discontinuance in the suit and withdrew the action in December 2015, because the objective of the suit had been accomplished. The latest legal action is therefore materially different in intent from the former and the recent insinuations are therefore misleading and unfortunate to say the least.”
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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