Business
WITH FIRSTBANK’S SPARK, GLAD TIDINGS ECHO FOR LESS PRIVILEGED CHILDREN
Their excitement was exceptional that Saturday morning on 6 July 2019. It was an overflowing river of joy and gratitude they could not contain, pumping from their hearts. The students and staff of Wesley School for the Hearing Impaired, Surulere, Lagos had a good reason to be ecstatic.
The Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan – First Bank of Nigeria Limited – and a team of volunteers from the nation’s premier financial institution visited the school to demonstrate acts of random kindness. Provisions (Food supplies, drinks, toiletries) and educational materials were given to the school to cater for the hundreds of children under the care of Mr. Kehinde Alimi, Principal of Wesley School 1.
The visit to Wesley School for the Hearing Impaired was part of the 2019 CR&S Week activities by FirstBank. The Bank had its maiden CR&S week in 2017.
Expressing his gratitude, Alimi began his speech by asking the students of the school to shout, ‘three hallelujahs’, thereon stating “I sincerely thank every member of your team (FirstBank) for their kindness and generosity. For all you have given us, God will replenish you back a million times. To have reached this stage as an institution has not been easy, but we have been able to pull through with the support of God and organisations like yours. The sheer quantum of materials you have brought also shows that you recognise that we are two schools and not just one – Wesley School for the Hearing Impaired 1 for senior students and Wesley School for the Hearing Impaired 2 for the junior students. You have proved that FirstBank is indeed the first while others follow.”
Like Oliver Twist, Alimi couldn’t resist asking for more: “We thank you most sincerely for today’s visit and we kindly enjoin you to continue to find time to interact with us. For us to have been in your thoughts means that you are concerned about our welfare, but we will still be approaching you with requests. We want you to find time out of no time to come and be part of our programmes. We are grateful for your efforts and pray that God will continue to sustain the Bank and all its staff. Thank you very much for all your cumulative efforts.”
Dr. Adeduntan had explained that the FirstBank team came to the school to demonstrate the kindness that it preaches and to assure students and staff of its support.
He said, “we believe that if all of us can show acts of kindness to people around us, we will make the world we live in a much better place for everyone. Our decision to come here today is to show appreciation to the management for shouldering the enormous responsibility of taking care of these children with special needs. This visit is also to assure the children who are schooling here that, as the popular saying goes, you will not walk alone.”
Commendably, Twenty-three other charity homes/institutes including camps of Internally Displaced Persons (IDPs) were visited by FirstBank staff volunteers, led by senior members of staff. The Executive Director, Public Sector, FirstBank, Abdullahi Ibrahim with other volunteer employees visited the School for the Blind, Jabi, Abuja while the Group Head, Corporate Banking, Remi Ajose-Adeogun visited the Down Syndrome Foundation of Nigeria, Fagba, Lagos. Other visited locations were Madinatu and Almiskin IDP Camps, Maiduguri amongst others. Food supplies (provisions, drink, toiletries) and educational materials were delivered to all the visited homes.
The wide range of activities of the FirstBank CR&S week underscores SPARK (Start Performing Acts of Random Kindness), a values-based initiative by the Bank which focuses on creating and reinforcing a conscious mindset of showing compassion, empathy as well as giving to others. It is aimed at inspiring people to make a difference as it is designed to promote kindness to one another. It is executed through a range of strategically designed activities including visits to homes for the less privileged members of society and talks about SPARK.
FirstBank’s visit to the various homes was particularly thoughtful in the light of the predicament of the less privileged and persons with disabilities in the country, estimated to be around 19 million by the National Population Commission in 2018. Many of these persons face several challenges including hunger, starvation, stigmatisation, discrimination and lack of access to healthcare, housing and education. Though the government moved to intervene in their plight when President Muhammadu Buhari signed into law the Discrimination Against Persons with Disabilities (Prohibition) Act 2018 in January, there has yet been the expected respite for them hence, most of them rely on the benevolence of public-spirited institutions like FirstBank and individuals.
Considering the number of challenges that Nigerians living with disabilities face, especially lack of access to healthcare, housing and education, there’s no gainsaying the fact that they need all the care and support they can get. And by continuously including them in its plans since it commenced the enlarged CS&R Week in 2017, FirstBank has been at the forefront of providing support for the less privileged Nigerians by reiterating that no assistance is too much to help them live a fulfilled life.
With the impacts made across over half a dozen countries that play host to the Bank’s business operations, the FirstBank 2019 CR&S week reinforced that philanthropy is no doubt embedded in its DNA.
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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