General News
FG Votes N1.56Bn for New Plane as Domestic Airlines Shrink

The federal government has made provisions for a new plane in the presidential fleet bringing to 11 the number of planes at the becks and calls of the federal government, according to a report by The Nation.
The new plane is coming at a time when the declining fortunes of the domestic airlines have made Presidential Air Fleet larger than the fleets of three domestic airlines combined.
Chanchangi, MedView, and FirstNation airlines, all have one aircraft; Medview Airlines, three; while FirstNation has two.
IRS Airlines, with five aircraft in its fleet, has only one that is currently operational. The four others have been sent overseas for routine maintenance for a long time now.
But the new Presidential plane is a Gulfstream and is expected to cost about N8 billion, according to industry sources
The Nation newspaper reported that the plane is to attract a N1.52million deposit, going by the 2014 budget.
The aircraft is expected to cost about N8 billion, according to industry sources.
The rest of the payment will be spread over one, two or three years before the jet is built and delivered.
The expenditure is part of the projected spending contained in next year’s estimate, which was laid before the National Assembly last week by Dr. Ngozi Okonjo-Iweala, Finance Minister
These items include: the completion of a hanger, N405,500,000; Tyre bay tools and equipment N106,000,000; Towberless tow tractor for aircraft towing for N58,740,000; hanger sweeper N31,870,000; luggage conveyor belt truck N28,898,000; and Harlan tow tug for aircraft equipment towing N27,590,000.
Others are CCTV and surveillance equipment for N18,000,000; aircraft tools and equipment N11,480,000; battery workshop equipment N5,050,000; complete tool box for general works and vehicles N360,000; heavy duty crocodile jacks N300,000; aluminum ladder N285,000; safety boots N52,500 and foldable ladder, N50,000.
The aircraft in the fleet of the PAF include two Falcon 7X jets, two Falcon 900 jets, a Gulfstream 550, one Boeing 737 BBJ (Nigerian Air Force 001 or Eagle One) being used exclusively by the President and a Gulfstream IVSP, one Gulfstream V, Cessna Citation 2 aircraft and Hawker Siddley 125-800 jet.
It is estimated that each of the Falcon 7X jets bought in 2010 cost $51.1 million. The Gulfstream 550 may have cost $53.3 million.
However, none of the aviation industry Bluebooks will give the simple calculation accuracy of how much an aircraft really costs. A number of issues are responsible for the difficulty in presenting a clear figure for a make/model/year, of an aircraft to help accurately determine how much it really worth.
Some of the issues include: lack of central reporting of aircraft sales for either tax or licence requirements, the complexity of individual aircraft value calculations, the timing of sales (long timeframes from offer to closing during which time the market can go up or down substantially), multiple synchronous closings for jet aircraft in particular, international currency sales, and non-disclosure-of-price terms included in many transaction documents.
General News
MultiChoice Secures 12 Warner Bros. Discovery Channels in New Multi-Year Deal

MultiChoice, a CANAL+ company, has retained the distribution rights to 12 Warner Bros. Discovery thematic channels following the signing of a new multi-year, multi-territory agreement between CANAL+ Group and Warner Bros. Discovery, marking a significant expansion of their long-standing partnership.

MultiChoice
The new deal, which spans several regions across Africa and Europe, covers the distribution of HBO Max as well as the renewal of selected Warner Bros. Discovery thematic channels. It represents a major milestone in the companies’ international collaboration and strengthens content offerings across MultiChoice Group territories.
MultiChoice disclosed that this agreement builds on earlier partnerships concluded in Europe. “It builds on the landmark agreements concluded in France in 2024,including the renewal of the exclusive pay-TV window for Warner Bros. Pictures films just six months after their theatrical release in France and the integration of HBO Max within select CANAL+ group offers – as well as in Poland in 2025, with the renewal of the distribution agreement for 22 thematic channels (including TVN 24 and Eurosport) and 4 free-to-air channels (including TVN).”
Under the renewed arrangement, MultiChoice Group will continue to distribute 12 Warner Bros. Discovery thematic channels across its territories, with some channels offered on an exclusive basis. CNN International and Cartoon Network will remain exclusive to South Africa while being distributed non-exclusively in other markets. Cartoon Network Porto will be exclusive in Angola and Mozambique and non-exclusive elsewhere. Other channels such as Discovery Channel, TLC, HGTV, Food Network, TNT Africa, Travel, ID and Cartoonito will be offered on a non-exclusive basis.
According to the partners, the deal reinforces CANAL+ Group’s channel portfolio on the continent. “This agreement enables CANAL+ Group to strengthen its entertainment, kids, news, and documentary channel offerings in African markets.”
The agreement is also expected to improve access for CANAL+ Group subscribers to Warner Bros. Discovery’s premium content through HBO Max and selected channels, including globally recognised series and films, further extending the studio’s international reach while consolidating MultiChoice’s content offering in key markets.
General News
Nigeria Police suspends tinted glass permit enforcement over court injunction

Nigeria Police Force has suspended nationwide enforcement of its tinted glass permit policy, hours before its scheduled rollout, in compliance with a Delta State High Court order.

Tinted glass permit
The policy, set for January 2, 2026, aimed to curb vehicle-related crimes but faced legal challenge from a private citizen against the Inspector-General of Police, the force, and Delta Police Commissioner.
An ex parte injunction issued in December 2025 restrained enforcement pending suit determination, prompting the hold announced by spokesperson Benjamin Hundeyin on January 1.
Police entered appearance, filed preliminary objections, and sought injunction vacation; hearing adjourned to January 20, 2026.
The Nigerian Bar Association condemned initial police plans as “executive recklessness,” accusing disregard for rule of law, while police insisted no permanent bar existed on statutory duties.
IGP Kayode Egbetokun reiterated adherence to law while prioritising public safety via intelligence-led strategies during proceedings.
General News
NDIC Reinforces Full Oversight Compliance to Safeguard Depositors

Mr. Thompson Sunday, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC has consistently remitted the required percentage of its earnings to the Federal Government.

Mr. Sunday made this known during a courtesy visit to the Managing Director/Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as part of NDIC’s ongoing engagement with key stakeholders following his formal assumption of office in July 2025.
According to him, NDIC takes financial accountability and transparency seriously, stressing that the Corporation complies fully with statutory remittance obligations, including the payment of 20 per cent of gross earnings or 80 per cent of net surplus to the Federal Government, as applicable. He added that NDIC also submits its financial statements ahead of statutory deadlines.
The NDIC MD/CE explained that this culture of compliance aligns with the Corporation’s role as a key institution within Nigeria’s financial safety-net, charged with protecting depositors and promoting confidence in the banking system. He emphasized that adherence to fiscal discipline remains central to NDIC’s credibility and effectiveness.
Mr. Sunday further disclosed that NDIC also complies with the Federal Government’s 50 per cent cost-to-income ratio policy, although he noted that the policy poses operational constraints. He explained that the deductions affect NDIC’s ability to build a strong Deposit Insurance Fund, which is needed to respond effectively to bank failures.
He stressed that international best practices under the Core Principles for Effective Deposit Insurance issued by the International Association of Deposit Insurers (IADI) require deposit insurers to maintain adequate funds to reimburse depositors when banks fail without recourse to government, adding that the NDIC is seeking an exemption to strengthen its capacity in this regard.
Mr. Sunday described MOFI as a critical stakeholder, noting that the Federal Government, through MOFI, holds a 40 per cent equity stake in NDIC. He said sustained collaboration with MOFI is essential to ensuring that NDIC continues to meet its obligations to government while effectively safeguarding depositors’ funds.
In his remarks, Dr. Takang commended the NDIC for its exemplary collaborative spirit and acknowledged the Corporation’s compliance with fiscal regulations. He assured that MOFI would continue to engage the Federal Ministry of Finance on NDIC’s behalf, noting that a strong NDIC is vital to sustaining confidence in Nigeria’s financial system.
Both institutions reaffirmed their commitment to continued cooperation, transparency and accountability, with Mr. Sunday reiterating that NDIC remains focused on balancing regulatory compliance with its overriding mandate of depositor protection and financial system stability.
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