General News
Air Peace Signs Multi-million Dollar Agreement with Boeing
Nigerian carrier, Air Peace, has signed a multi-million dollar agreement with aircraft manufacturers, The Boeing Company, for the purchase of 10 brand new B737 Max aircraft.
The agreement was signed on Thursday at the United States Consulate in Lagos by the Chief Executive Officer of Air Peace, Mr Allen Onyema and Boeing Sales Director for West and Central Africa, Mr Larry Tolliver.
Speaking at the ceremony, Onyema said each of the Max B737 aircraft cost $113 million, but Boeing was gracious to reduce it to an undisclosed amount for Air Peace following series of negotiations.
He said the procurement of the aircraft, which is the latest by Boeing, was being financed by Fidelity Bank and they would be deployed for Air Peace international operations.
According to him, the addition of the new planes, which will be delivered soon by Boeing, will increase Air Peace fleet to 37 aircraft in less than four years of operation.
Onyema said: “We have just signed an order for 10 B737 aircraft from Boeing. We are interested in creating employment for our people because one of the aircraft can create 500 jobs.
“We are trying to curb insecurity by creating job opportunities for our people. Air Peace currently has about 3,000 employees, and I believe that is part of our contribution to national development.”
He thanked the President Muhammadu Buhari-led administration for the support given to Nigerian airlines, noting that the anti-corruption campaign of the government had improved the confidence of the international community in Nigerian businesses.
Onyema, however, appealed to the government to find ways of establishing local refineries in order to reduce the high cost of aviation fuel which was affecting the operations of airlines in the country.
Also, the US Consul General, Mr John Bray, said the agreement between both companies would further deepen the relationship between Nigeria and the US.
Bray said it was a win-win situation for both countries because the deal would create about 3,000 jobs in Nigeria while about 5,000 jobs in the manufacturing sector would be created in the US.
On his part, Tolliver said the B373 Max aircraft was the fastest aircraft manufactured by Boeing and consumes about 40 per cent less fuel than other Boeing aircraft currently being used by Air Peace.
He said the aircraft also had passenger appeal because of the modern facilities onboard, stressing that Boeing would be supporting Air Peace with training and maintenance spares as part of the agreement.
Speaking on the financing of the procurement, the Managing Director of Fidelity Bank, Mr Nnamdi Okonkwo, said Air Peace had proven its integrity in previous loans given to the airline by the bank.
He said: “We are proud to have Air Peace as a customer because the airline has integrity and has always paid ahead of time in previous aircraft purchases financed by Fidelity Bank.
“I know some airlines have gone down in the past due to huge indebtedness to banks, but I can tell you that Air Peace is not owing anybody, and this is because of the prudence of the airline’s management. ”
The Federal Government has granted approval to Air Peace to begin flights to six international destinations which are London, Dubai, Sharjah, Guangzhou-China, Mumbai and Johannesburg in the next few months.
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.
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.
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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