The National Hajj Commission of Nigeria (NAHCON) has officially approved five air carriers to transport Nigerian pilgrims for the 2027 Hajj exercise, following a rigorous vetting process. According to an official circular issued by NAHCON management, the selected air carriers are: Air Peace Limited Flynas Max Air Limited Saudi Air UMZA Aviation Services Limited Selection criteria and regulatory mandates The commission confirmed that the airlines were chosen following an evaluation by the Aviation Screening Committee, which assessed applicants based on regulatory safety compliance, operational capacity, and financial stability. Final clearance remains subject to the execution of airlift agreements with NAHCON,…
Author: Abdoulaye Kay
The naira strengthened further against the US dollar at the Nigerian Foreign Exchange Market (NFEM), closing at N1,360.15/$ on Wednesday, its strongest level since June 16, 2026. Data from the Central Bank of Nigeria (CBN) showed that the local currency appreciated by N4.85 from the N1,365/$ recorded on Tuesday, representing a 0.36 per cent gain. (Nairametrics) The latest appreciation extends the naira’s recovery after coming under pressure during much of July, with the currency now trading below most of the levels recorded last month. The naira has gained N21.35, or 1.55 per cent, from the N1,381.50/$ recorded on July 17.…
The Central Bank of Nigeria (CBN) has relaxed restrictions governing access to its Discount Window, allowing financial institutions participating in the Nigerian Foreign Exchange Market (NFEM) and primary government securities auctions to access central bank liquidity facilities. The changes are contained in a circular dated August 12, 2026, titled Review of Discount Window Restrictions and Open Market Operations Participation Framework, signed by Okey Umeano, Acting Director, Financial Markets Department. The directives took effect immediately. Under the revised framework, participation in the NFEM will no longer prevent an institution from accessing the CBN’s Discount Window, which includes facilities such as the…
Foreign exchange turnover on the Nigerian Foreign Exchange Market (NFEM) dropped sharply to $184.99 million on Tuesday, August 11, 2026, its lowest level in 11 weeks, as trading activity weakened significantly. Data from the Central Bank of Nigeria (CBN) showed that turnover declined by about $461.5 million from the $646.51 million recorded on Monday, representing a drop of more than 71 per cent. The latest figure is the lowest NFEM turnover recorded since May 25, when transactions stood at $175.34 million. Despite the sharp decline in market activity, the naira weakened only marginally against the dollar, closing at N1,365 per…
The Nigeria Data Protection Commission (NDPC) says it has commenced a forensic investigation into the University of Lagos (UNILAG), Lotus Bank and Hackerbella Ltd over alleged violations of data protection laws. The commission’s Head of Legal, Enforcement and Regulations, Mr Babatunde Bamigboye, disclosed this in a statement on Wednesday in Abuja. Bamigboye explained that the investigation followed public complaints alleging that students’ personal data were used to open bank accounts without a lawful basis. He said the National Commissioner of the NDPC, Dr Vincent Olatunji, directed the investigation team to conduct a comprehensive assessment of the circumstances surrounding the collection,…
The University of Benin Teaching Hospital (UBTH) has increased the capacity of its mortuary from 72 to 460 chillers and introduced numbered compartments for improved identification and storage of bodies. The Chief Medical Director (CMD) of UBTH, Mrs Idia Ize-Iyamu, disclosed this at a news conference on Wednesday in Benin after a facility tour of the hospital. Ize-Iyamu said the renovated mortuary was also equipped with modern stretchers and other facilities to improve the handling and storage of bodies. She said the hospital had constructed a new Multi-Faith Centre to provide a convenient place for people to perform interment rites…
Osun State Governor and Accord Party governorship candidate, Ademola Adeleke, says he is not intimidated by the support of the Federal Government and some state governors for the All Progressives Congress (APC) candidate, Munirudeen Oyebamiji. Adeleke said the political backing for his major opponent would not determine the outcome of the August 15 governorship election, insisting that the electorate would ultimately decide who wins. The governor spoke on Tuesday during an Arise News town hall meeting in Osogbo attended by leading candidates in the election. Reacting to the campaign activities of governors supporting Oyebamiji, Adeleke described himself as a “bulldozer”…
The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Company (KAEDC) and assumed direct regulatory control of the utility over persistent financial, operational and regulatory failures. The intervention, contained in Order No. NERC/2026/086 issued on Monday, took effect on August 10, 2026, following an inquiry and consultations with key stakeholders, including the Bureau of Public Enterprises (BPE). NERC appointed KAEDC’s Managing Director/Chief Executive Officer, Dr Abubakar Umar Hashidu, as administrator for an initial six-month period. The Commission said the DisCo had reached a “grave situation” characterised by prolonged defaults in its market obligations, inadequate investment,…
The naira remained broadly stable against the US dollar, closing around N1,367/$ as sustained interventions by the Central Bank of Nigeria (CBN) helped contain pressure on the local currency. The naira opened the final trading day of the week at about N1,366.5/$, reflecting relatively narrow movements in the official foreign exchange market. Market conditions have increasingly favoured the naira, with stronger dollar supply, local bank sales and continued CBN intervention helping to limit volatility. The CBN has maintained an active presence in the FX market, including dollar sales to Bureau de Change operators and other authorised dealers, as part of…
The Central Bank of Nigeria’s foreign exchange reforms are beginning to reach consumers, with commercial banks expanding international spending limits on naira-denominated cards as dollar liquidity improves. Guaranty Trust Bank (GTBank) has raised the quarterly international spending limit on its naira cards to $20,000, up sharply from the $6,000 ceiling introduced in November 2025 and the $1,000 limit announced in July 2025. The higher threshold gives eligible customers greater capacity to pay for international transactions, including airline tickets, hotel bookings, tuition and purchases of goods and services abroad. The development points to improving liquidity in Nigeria’s foreign exchange market and…