General News
Passengers Stranded at Lagos Airports Over Increased Fares
Hundreds of intending passengers were on Thursday stranded at the two domestic Lagos airports over hike in fares by airline operators.
The operators capitalised on the Christmas rush to increase their fares.According to the reports gathered, the air ticket for an hour flight currently ranged from N30, 000 to N43, 000, depending on the carrier.
This was against N18,000 to N30,000 a few days ago.
Officials of some of the airlines said the rush for tickets was more pronounced on Lagos, Enugu, Abuja, Owerri, Calabar and Port Harcourt routes.
The carriers currently operating commercial services in the country are Arik Air, Aero Contractors, IRS Airlines, Med-View Air and Overland.
Findings at the Lagos airports as well as enquiries from airline representatives showed that the average fare on the Lagos-Enugu route, which was less than 45 minutes, was N35, 000 as against N20, 000 about two months ago.
Similarly, the Lagos-Abuja route attracted an average ticket price of N40, 000.
This was against an average of N24, 000 recorded some weeks ago.
On the Lagos-Port Harcourt and Lagos-Owerri routes, it costs between N38, 000 and N45,000.
NAN recalls that, Mr Yakubu Dati, the General Manager, Corporate Communications, Federal Airports Authority of Nigeria (FAAN), had on Dec. 11 advised Nigerians to make use of passenger service portals.
Dati said that this was to help them plan their trips ahead in order to avoid last-minute stress.
He said the platforms empower passengers with tools to make the traveling experience seamless for them during periods when there is an upsurge in demand for air transports
Some of the passengers who spoke to NAN wondered why fares were always hiked during the festive periods.
Mr Olumide Faleti, a traveler who was heading to Enugu from Abuja said: “it is funny how things operate here. This is a time to share and not to exploit your passengers.’’
According to him, domestic airlines should learn to introduce low cost promotional fares to attract travelers instead of exploiting passengers as a result of the season.
He regretted the dearth of local carriers in the sector, adding that, the few in the business were cashing on the development at the detriment of their customers.
Another passenger, Dr Mayowa Olawale, said before now he had been searching for low cost fares online but could not get any.
“I’m on my way to Abuja where my parents reside. I searched on the Internet for promotional fares but was disappointed when I found out that all the carriers going my way had their ticket prices above N35, 000,” he said.
Meanwhile, some ticketing officers, who pleaded anonymity said that the difference in airfares when compared to what they used to be was normal at this period.
“It is normal for airfares to rise, especially during Christmas and as the year comes to an end. It is not only our airline that has increased fares,’’ he said.
Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.
Tunde Ayeni, former chairman of defunct Skye Bank Plc,
This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.
He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.
Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.
Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.
Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.
About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.
The EFCC is expected to file charges once the investigation is concluded.
Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.
The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.
Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.
He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.
Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.
In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.
He also revealed that the company is preparing to introduce new home and personal care products later this year.
Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.
Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.
Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.
The special guests were conducted around the facility, and the programme was concluded with a luncheon.
The administration of Donald Trump has frozen $344 million in cryptocurrency allegedly linked to Iran, marking a sharp escalation in financial pressure on Tehran.
The move comes amid stalled diplomatic efforts and a fragile ceasefire in the region.
U.S. Treasury Secretary Scott Bessent confirmed that authorities are sanctioning multiple crypto wallets tied to Iran. “We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” he said.
Tether, which facilitated the transactions, said it worked with U.S. authorities to freeze the funds across two wallet addresses after receiving intelligence linked to unlawful activity.
A U.S. official said blockchain analysis revealed “material links” to the Iranian regime, including transactions routed through intermediary addresses connected to wallets associated with the Central Bank of Iran.
Responding to the development, Tether CEO Paolo Ardoino said the company does not tolerate illicit use of its stablecoin. “USD₮ is not a safe haven for illegal activity. When there is credible linkage to sanctioned entities or criminal networks, we act immediately,” he stated.
The crackdown underscores the growing reliance of sanctioned states on digital assets to bypass traditional banking restrictions. Data from Chainalysis shows Iran’s cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps reportedly controlling about half.
Analysts say while the freeze is significant, Iran has historically adapted to sanctions. Daniel Tannebaum of the Atlantic Council noted that targeting third-party actors enabling such transactions may be key to increasing pressure.
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