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NCAA Moves To Penalize Airlines in Nigeria for Misleading Departure Times

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The Nigeria Civil Aviation Authority (NCAA) has announced it will impose penalty on airlines involved in misleading departure time scheduling.

Capt. Chris Najomo the Acting Director-General, conveyed this in a statement signed by the Director of Public Affairs/Consumer Protection, Mr. Michael Achimugu, on Tuesday.

The NCAA warned airlines to desist from such infractions or face severe regulatory actions.

“It has come to our notice that some airlines are being reported for advertising deceitful departure times

“The NCAA regulation says no airline shall display deceitful passenger departure times at its counter, advert material, or on its website

“We want to make it very clear that the D-GCA has directed monitoring and offenders will face serious regulatory actions,” Captain Najomo stated.

Najomo laid emphasis on the NCAA’s commitment to a business-friendly environment, while also stressing that operators must provide top-quality services to passengers.

Furthermore he stressed the Authority’s commitment to safety, discipline, and economic regulation, as demonstrated by the recent suspension of ten Permits for Non-Commercial Flights (PHCF) holders who failed to comply with the recertification advisory issued in April 2024.

Najomo highlighted the ease of doing business environment at the NCAA, noting it as an area of continuous improvement. The statement noted that his commitment is reflected in their high score on the Presidential Enabling Business Council (PEBEC) ranking, where the NCAA achieved an impressive 98.5%. This score builds on the commendable 71.04% the NCAA received during this year’s ICAO Security Audit.

He assured that the Authority will continue its efforts to enhance the industry’s safety and security for passengers and stakeholders.

Addressing the issue of refund processes by airlines, Najomo stated that all refunds must be processed without undue delays and concluded within 14 working days, regardless of the mode of ticket purchase.

Clarification on suspension of licenses for some private jet operators

Regarding the suspension of PHCF licenses for ten operators, Najomo explained that they were advised in April 2024 to start the recertification process but failed to comply, leaving the Authority no choice but to sanction them.

Najomo addressed misconceptions and misinformation from a recent publication that claimed the law surrounding the suspension of the ten PHCFs was outdated, among other accusations.

He described these allegations as either ignorant or deliberately misleading and explained that the Authority’s actions were based on the Civil Aviation Act of 2022.

He emphasized that the NCAA’s decision was part of its mandate to enforce compliance with civil aviation laws and regulations.

To ensure the integrity of the sector, the NCAA reaffirmed its commitment to eliminating illegal charter operators, who might have influenced the misleading publication

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Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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