Business
Why Adeboye stepped down as head of Nigeria’s Redeemed Church
General Overseer of the Redeemed Christian Church of God, Enoch Adeboye, stepped down as head of the church in Nigeria in line with a proposed Corporate Governance Code in Nigeria, PREMIUM TIMES has learnt.
Mr. Adeboye referred to the governance code as he announced his decision to give up the position on Saturday, church leaders who attended the session, said.
The code, proposed in May 2015, limits the number of years heads of corporate organisations can stay in office. It is mandatory for the private sector.
The Code of Governance for Not-for-Profit entities is “Comply or Justify non-compliance.”
It is under the Not-for-Profit category that churches like the RCCG come under.
The code was later suspended, reportedly after the Attorney General, Abubakar Malami, opposed its implementation.
It was unclear whether Mr. Adeboye knew the proposal had been suspended.
While announcing the governance code in October 2016, the Financial Reporting Council, FRC, had said it would take effect from October 17, 2016.
FRC said, “In accordance with Section 50 of the Financial Reporting Council of Nigeria Act, 2011, which among other things requires the Directorate of Corporate Governance to develop the principles and practices of Corporate Governance applicable in Nigeria, the Council hereby releases the National Code of Corporate Governance effective 17th October 2016.”
It further said, the “Code of Governance for the Public Sector will not be applicable immediately until an executive directive is secured from the Federal Government of Nigeria. This is due to the fact that the enabling laws that set up most government establishments already carry some form of governance structure that will require an umbrella legislation to unify the different provisions of those laws to synchronise with this Code.”
Mr. Malami later wrote a strong opinion against it.
Mr. Adeboye had on Saturday surprised the top echelon of the RCCG by stepping down from direct leadership of the church in the country. He appointed Joshua Obayemi as the National Overseer of the church in Nigeria.
Mr. Obayemi, who was Special Assistant to General Overseer on Finance, was appointed at the annual Ministers Thanksgiving at Shimawa, Ogun State.
Mr. Adeboye will however remain the General Overseer of the RCCG Worldwide.
Daddy G. O.’s tactical resignation or retirement: An unpleasant development
While I agree totally with the call for Christians to go into politics én mass, I would rather call for the church first of all to go into prayers. Haven’t we seen sound Christians who went into politics and became compromised by the monstrous spirit of corruption and mammonry that has eaten dip into our political system and taken root in all the seats of power?
This ungodly law that is supposedly signed into law by the National Assembly did not start as a national issue but an expression of grief by one man who became aggrieved by his pastor and general overseer. This man is the current boss of the Financial Reporting Council of Nigeria.
This said man was a pastor with the RCCG who became envious of the success and power wielded by the General Overseer, because, he himself is a power hungry man. He became head of the FRC after repeatedly backstabbing his boss to whom he was number two with repeated petitions to the higher authorities against his boss until he had his way.
He has never had anything good to say about his G. O. He had always spoken I’ll of him to whoever cares to hear. While he was still a pastor under the RCCG, he bragged that he had not stepped his foot into the Redemption Camp in many years.
He had always complained that the G O has asked other pastors to step down after reaching 70 years and he himself has refused to do so. And had bragged on a few occasions that he would ensure the G O steps down.
Let me add that neither he the boss nor the parastatal he heads (FRCN) has the power to execute the law, but he did. Financial Reporting Council has its jurisdiction whose bounds this man has overstepped. Recently, the kangaroo Acts of the FRC he concocted alone to favour him and his draconian regime was repealed by the National Assembly or so it seems. His satanic high handedness style of governance has been a thing of concern in the parastatal.
He became so power drunk that he tried to insult the integrity of the G O four years ago when the G O asked that he comes to see him. Only then was his church file as a pastor reviewed and he got suspended from the church. He became all the more drunk with power when he got someone who introduced him to the then president. There, he found an opportunity to present this matter to the president and gave reasons why churches and mosques should start paying taxes. He convinced the president then by running down God’s servants.
He was an easy tool then because he came very handy to be used against the then Central Bank governor which led to his suspension from office. This drew him closer to the president and tactically had the president’s ear. It was at that point he made way to express his devilish desire against the church with his G O as main target.
When the church suspended him and the then president left office, he quickly joined himself to Latter Rain Church and got introduced to the pastor through a member of staff of the FRC who worships there. This he did subtly because of the closeness of the pastor to this present government so he can get introduced to the new Preside Buhari. That was done.
His staff in the office are groaning under his hard leadership and cannot speak out because he had held them bound with threats and fear. This man who today is an enemy of the church has been implicated in wizardry and witchcraft and belonging to the occult. He has some cases of abuse of office and immoral activities going on in court against him which he lost recently.
Today, he is laughing because it seems his agenda is playing out. He is boasting that it will spread to all the other long serving G.O.s This, he will achieve if the church does not arise to both pray and cease power first from the realm of the spirit.
In Acts 12:1-10, when Herod took James and killed him and no one did anything, he proceeded to take the leader of the apostles- Peter. That’s when the church woke up to prayers and intervention came in verse 5-10.
In Acts 7:1-end, Saul ensured Steven died and no one stood against him, so he proceeded to Damascus to clean up the church until the Master intervened because the church prayed.
Who said the bill can not be reversed? Why should the church be dictated to by the state when the state has no hand in leading the church? Didn’t our Lord Jesus say He will build His church and the gates of hell cannot not prevail against it? Why is hell raging now and we are complying?
Haman’s Bill in the book of Esther was countered. Joshua stopped time until he overthrew evil kings. Where is the power today in the church? We see not our signs. (Ps. 74:9)
The state cannot dictate to the church when her leaders should come in and out and who they should handover to. If we don’t fight this evil now, it will develop into something worse that will bring regrets to the church. Who knows; they could start telling the pastors what to preach and what not to preach. What pastors should wear and not wear etc.
Let’s call for a Solemn Assembly and let the priests weep between the porch and the altar until this evil quickly dies out.
Awake O Zion and trim your light. Arise O church and shine for your light is come and the glory of the Lord is risen upon you.
It is a dark period for the world but the best time for the church to shine (Is.60:2)
*Resolving the Obazee sack angle…*
Many people wonder why PMB must have sacked Obazee and ordered for a replacement. Let us get the facts away from fiction.
* A lot of complaints have been tendered against Obazee from the private sector for years which got worse in the past few months.
* He had a right to carry out his assigned duties, but one of such allegations against him was that of vendetta.
* He was once sacked while reportedly working under baba Adeboye of the RCCG.
* He was instructed days ago by the minister of industry trade and investment to hold on while issues concerning him are sorted out.
* The minister is the boss and head of the FRN.
* He defied the orders of the minister to suspend the regulation, and went ahead to enforce the act. His first point of call was the RCCG, ensuring that daddy Adeboye obeys the law.
* The minister reported him to the president. His case is that of insubordination. He disobeyed and was in the process rude to a senior official.
* PMB recommended immediately that he should be sacked and replaced for defying the orders of his superior to look into the matter, deliberately further about it and clear issues bordering on revenge as regards his person.
Those are my findings regarding the sack by PMB, it truly had nothing to do with weakness or succumbing to pressure by PMB nor is it karma of the history of the Obazee guy drafting the recommendation which removed Sanusi under GEJ.
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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