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US Senate Committee Faults Boeing Safety Practices

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Senate panel investigating Boeing’s safety culture on Wednesday faulted the plane maker’s quality practices and oversight by the Federal Aviation Administration citing documents obtained in an ongoing investigation.

The Senate Permanent Subcommittee on Investigations, which is holding a hearing Wednesday with FAA Administrator Mike Whitaker, said Boeing factory workers felt pressured to prioritize production speed over quality and said they did not receive enough training to properly perform their jobs, according to the results of a special investigation by the Federal Aviation Administration (FAA) published Wednesday.

The never-before-disclosed results of a six-week-long FAA special audit are likely to pile more pressure on a company already facing a slew of problems, including questions about the safety of its planes and an ongoing strike by 33,000 union workers, its first in 16 years.

In January, a door plug blew off a 737 Max operated by Alaska Airlines shortly after takeoff. Although no one was killed or seriously injured, the incident has sparked numerous federal investigations, one of which revealed the plane had left a Boeing factory without the four bolts needed to hold the door plug in place.

Wednesday’s report was made public by the Senate Permanent Subcommittee on Investigations, which is due to hold a hearing expected to feature testimony by FAA Administrator Mike Whitaker.

The “findings reveal the extent of troubling production problems, including Boeing’s struggle to adequately train and equip manufacturing personnel, thoroughly document and control nonconforming parts, and conduct adequate quality inspections,” said the report, which was released to the subcommittee’s members as a memo.

Whitaker previously testified in June that the FAA took a “too-hands-off” approach to regulating the aviation giant. The new report doesn’t spare the FAA, highlighting its own role in Boeing’s failures.

“These findings demonstrate an ongoing and persistent struggle by the FAA to ensure that Boeing is maintaining the highest safety standards across its manufacturing facilities,” it added. “The newly released information raises questions about the effectiveness of the FAA’s oversight of the company.”

The report documented instances of safety lapses and shortcuts routinely taken by Boeing employees. One of the more egregious examples, according to the audit, was a Boeing mechanic who used an improvised measuring device to check gaps between components.

“This tool is mechanic made, unauthorized, uncalibrated, unmarked, not inventoried or stored,” the report said. “The mechanic has admitted to using this tool for at least three years. When asked how other door mechanics take this measurement, he stated they all do the same.”

The report also highlights an “absence of process control for scrap articles,” an issue raised by a whistleblower.

During testimony in front of the House Aviation Subcommittee on Tuesday, Whitaker said the FAA has flooded Boeing’s Renton, Washington 737 plant with its own inspectors, tasking them with individually blessing each new plane that rolls off the factory floor.

Whitaker told members of the House that Boeing has made strides in tackling unresolved jobs that “travel” on new airplanes as they move down the production line. But there is still much work to be done on fixing Boeing’s safety culture, he said.

“I think the safety culture change is going to be a long-term project,” Whitaker said. “I think it’s going to take years of delivering that safety message and the employees actually seeing that safety is more important than production before that culture to change.”

 

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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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