General News
Prices Fixing Scandal: NCAA to Install Info Portal @ Airports
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Nigeria Civil Aviation Authority (NCAA) has concluded plans to install a Consumer Protection at the nation’s airports. This is coming on the heels of accusations of the British Airways and the Virgin Atlantic Airways of collusion in prices fixing on routes including Lagos to London. Dr. Harold Demuren, the director general of NCAA disclosed this during his presentation at the House probe into the alleged fare fixing scandal involving the two airlines. He said the platform that serve as enforcement initiative aid for NCAA Consumer Protection Directorate, will be installed for the purpose of providing significant information capable of assisting consumer decision making in the selection of their service provider. He said that a committee set up in 2011 to investigate the matter, apparently discovered a wide disparity in fares for similar point of departure and destination in distances from Nigeria and Ghana, among others. Demuren went memory lane on efforts made by NCAA to address the problem, incidentally, the two airlines failed to comply during the investigations “I would like start with the Regional Imbalance as it relates to BA and VAA. Starting sometime in 2010, the NCAA after following events arising in other jurisdictions, particularly the U.S and U.K, and conducting internal assessments with respect to operations of BA and VAA regarding whether they were colluding to exploit consumers, began a comprehensive evaluation of the conduct, our laws, culpability and potential remedies. “Sequel to this, on May 4th, 2011, NCAA opened an important and comprehensive investigation into the conduct of exploitation of Nigerian Consumers by BA and VAA, with respect to collusion in prices fixing on routes including Lagos to London. “Of great concern, NCAA was aware that BA and VAA had been subjected to similar investigations in other foreign jurisdictions, and admissions of culpability or findings of violations had occurred or been established; penalties were awarded and compensation set aside and or paid to consumers in those jurisdictions. “Since neither of the two airlines voluntarily provided information to NCAA about their conduct, admissions or culpability, the NCAA committed its resources to a comprehensive investigation. The NCAA boss further revealed that this investigation saw more than one dozen witnesses testifying before the investigating panel, mostly made up of employees of both BA and VAA and the critical examination and analysis of over 10,000 pages of documents in over 24 volumes and information gathered from 3 continents including courts and other regulatory authorities in the U.K and U.S. He added that the airlines equally connived to fix the passenger fuel surcharges which eliminated competition in the sector. “On November 14, 2011 after this long painstaking investigation, NCAA made its findings, which included the fact that, both BA and VA violated Nigerian law and Regulations and exploited Nigerian consumers. “Specifically, both airlines colluded to fix the Passenger Fuel Surcharge in a manner that eliminated or suppressed choice and competition and the Nigerian public were the victims of this conduct while both airlines reaped huge profits from their misconduct. “In addition, both airlines deceived Nigerians and used unfair methods in procuring these huge revenues in their businesses. Demuren solidified that NCAA was left with no option than to impose monetary sanctions on the airlines, “And a decision that passengers who were exploited must be compensated. “Both airlines being dissatisfied with the NCAA Findings from its investigation appealed under NCAA Regulations. The NCAA set up an independent Administrative Appeals Panel chaired by a retired Justice of the Supreme Court of Nigeria.” He maintained that Nigeria is to be briefed on the outcome of a study which the U.K Department of Transport commissioned its Civil Aviation Authority to conduct to determine whether there is evidence of abuse in the UK-Nigeria aviation market. “In order for the engagement and evaluation to fair, balanced and mutually respectful, The Honurable Minister of Aviation has mandated the NCAA to conduct a similar comprehensive survey/study from the Nigerian standpoint with its consultants. He promised that NCAA will remain fervent and work assiduously to prevent exploitation or unscrupulous practices that allow imposition of unusually and inexplicably high or disparate ticket fares on Nigerians. Part of its strategy is the imposition of stiff penalties on violators through appropriate laws of the land. NCAA has also urged the travelling public to be vigilant and remain impermissive of exploitation, while being circumspect in making their travel plans and choice of airlines, while the authority ventures into alternative means to educate the public further. “NCAA has also advanced in its efforts to develop a Consumer Protection Portal that will be installed at the nation’s airports for the purpose of providing significant information that will assist consumer decision making in the selection of their service provider. This will also serve as enforcement initiative aid for NCAA Consumer Protection Directorate. “This Portal and the incoming Regulations will provide both the basis and the process of gathering multi-dimensional data, analysis of the data and distribution of compliance trends and or information developed based on the use of the data. These are critical areas of consumer protection and economic regulation of the industry. Demuren reiterated NCAA’s decision to evolve more enforcement laws to protect consumers across the board.
Nigeria’s startup ecosystem received a fresh injection of momentum as top emerging ventures secured funding and investor attention at the iHatch National Demo Day, where Interface Africa clinched the highest prize of $15,000.
The 4th cohort of the NITDA–JICA-backed accelerator brought together founders, policymakers, and venture stakeholders in Abuja, showcasing innovations ranging from clean-energy financing and digital food marketplaces to next-gen fintech tools.
The startups went rounds of running through state-level selections and regional competition. iHatch was established in 2021 as a strategic partnership to create an enabling environment for young Nigerians to develop and scale their innovative solutions.
The iHatch National Demo Day (4th Cohort), is an initiative by NITDA and JICA which provides a clear pathway for homegrown talent to contribute significantly to economic diversification and digital transformation.
After rigorous selection processes, the top founders converged to pitch their innovations, recognised the standout performers, which are:
Interface Africa with $15,000, the firm is driving Nigeria’s clean energy transition by enabling structured and affordable solar financing.
Ahioma with $12,000, the firm enhances food accessibility with a digital marketplace connecting consumers directly to trusted vendors.
Linia Finance with $10,000, the firm is helping Nigerians take control of their finances with tools for budgeting, tracking, and smart money planning.
Chapta got a laptop reward. They delivering an offline-capable school application ensuring consistent, accessible learning for students everywhere.
Softdrop also got a laptop reward, they solve logistics challenges through a modern delivery platform designed for speed, convenience, and efficiency.
Fidelity Bank Plc, a leading financial institution, will host a free virtual training on the Nigeria Tax Act 2025 (NTA) as part of its commitment to helping small businesses prepare for the upcoming legislation.
Fidelity Bank
The masterclass is scheduled for 10:00 AM (Nigerian time) on Friday, 12 December 2025. It will provide participants with clear insights into changes in the tax framework, the impact on income and business operations, and practical steps to avoid penalties in 2026.
Attendees will also learn strategies to stay ahead in an evolving regulatory environment.
The Nigerian government enacted major tax reforms on 26 June 2025 when President Bola Ahmed Tinubu signed four tax bills into law.
These Acts will take effect on 1 January 2026 and represent a significant overhaul of the country’s tax system.
The reforms aim to modernize and harmonize Nigeria’s tax framework, improve revenue generation, broaden the tax base, and create clearer rules for individuals, businesses, and government agencies.
“Our decision to host this masterclass reflects our commitment to empowering businesses with the right information ahead of the commencement of the new tax regime.
“Information is money and a well-informed business owner is already steps ahead in the race to success.
“This is why we are bringing experts to provide accurate details and demystify the tax act,” said Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc.
Interested participants can register via https://bit.ly/2026TaxLawMasterclass .
PalmPay, Nigeria’s leading digital banking platform, has renewed its commitment to deepening financial inclusion across the country. At the CeBIH Annual Conference 2025, themed “Reimagining Financial Inclusion through Cultural Shifts in Consumer Credit,” PalmPay’s Managing Director, Chika Nwosu, urged industry players to deepen financial inclusion by embracing community-aligned solutions and customer-centric innovations that can better serve Nigeria’s underserved and unbanked populations.
Speaking during a panel session titled “Social Inclusion, A Veritable Tool for Financial Inclusion,” Chika Nwosu joined other industry leaders to share insights on strengthening participation among women, rural dwellers, low-income earners, and other financially excluded groups.
Chika Nwosu highlighted PalmPay’s commitment to inclusive finance through its 500,000-strong agent network, which enables seamless cash-in/cash-out services for unbanked users across Nigeria. He also emphasised the importance of PalmPay’s USSD platform, 861#, which allows users with basic phones or limited internet access to perform essential financial transactions.
“Financial inclusion goes beyond access; it must be equitable and tailored to real-life needs,” Chika Nwosu said. He shared how PalmPay leverages behavioural insights to design impactful services, including affordable health insurance, reliable bill payments, merchant solutions, and automated savings features that support financial discipline among users.
The session further examined the role of grassroots agents and community touchpoints in driving last-mile adoption. Chika Nwosu noted that PalmPay’s widespread community presence continues to build trust and encourage excluded populations to embrace digital financial tools.
The session was moderated by Ronke Kuye of the CeBIH Advisory Council and featured representatives from E-Doc Online, SmartCash Payment Service Bank, SANEF, and EFINA.
PalmPay reaffirmed its commitment to driving accessible, secure, and inclusive financial services for all Nigerians. PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh.
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