General News
Reps Give FAAN Two-week Ultimatum to Recover N18.98bn Debts from Foreign Airlines

House of Representatives Committee on Finance has given the Federal Airports Authority of Nigeria (FAAN) two weeks to recover N18.98 billion owed to the Federal Government by foreign airlines operating in the country.

The directive was issued on Tuesday by the Committee Chairman, Rep. James Faleke, during an interactive session with FAAN officials led by the Managing Director, Mrs Olubunmi Kuku, as part of the committee’s ongoing revenue monitoring exercise.
Lawmakers expressed displeasure over what they described as the growing debt profile of international airlines, insisting that the situation was unacceptable in the face of government’s revenue needs.
Faleke said the accumulation of liabilities, despite clearly defined payment timelines for airport service charges, raised serious concerns about enforcement and compliance in the aviation sector.
In her presentation, Kuku explained that airlines using Nigerian airports are required to settle their service charges within two weeks.
She, however, disclosed that several operators had exceeded this window, with some liabilities ageing beyond 30 days, 90 days and, in certain instances, more than a year.
She put the total outstanding indebtedness of foreign airlines to FAAN at N18.98 billion.
According to her, the debts relate to statutory charges for services provided by FAAN and are largely processed through the International Air Transport Association’s (IATA) global settlement platform.
Airlines listed in the debt profile include Qatar Airways, Lufthansa, British Airways, Virgin Atlantic, KLM, EgyptAir, Ethiopian Airlines, Air France, Royal Air Maroc, Turkish Airlines and Africa World Airlines.
She said Qatar Airways and Lufthansa each owe about N1.5 billion, Virgin Atlantic about N1.35 billion, while KLM, EgyptAir and Ethiopian Airlines each owe over N1 billion.
Other carriers, including Air France, Royal Air Maroc, Turkish Airlines and Africa World Airlines, carry liabilities ranging between N700 million and N1 billion.
Committee members queried why FAAN allowed the debts to accumulate beyond the stipulated two-week payment period.
One lawmaker asked why airlines that defaulted were neither sanctioned nor barred from operating at Nigerian airports, and whether late payments attracted interest charges.
Members warned that persistent delays in settling obligations could amount to negligence and undermine the integrity of government revenue collection.
Responding, Kuku said international airline payments often pass through IATA’s central clearing system used globally for ticketing and financial settlements, which can create delays beyond FAAN’s direct control.
She stressed that FAAN closely monitors ageing of debts, steps up engagements with airlines once liabilities exceed 30 days and applies stronger enforcement measures when debts cross 90 days.
She added that the authority had, in some instances, grounded defaulting airlines, particularly domestic operators that do not operate under the same global credit structure as foreign carriers.
Unsatisfied, the committee directed FAAN to furnish it with detailed addresses and documentation of all indebted airlines and warned that the affected carriers would be invited to appear before the House if they failed to clear their debts within the two-week deadline. “We need every kobo that belongs to this country,” Faleke said, adding that any airline found violating its financial obligations to Nigeria would be held accountable.
Foreign airlines operating in Nigeria are required to pay passenger service charges, landing and parking fees, aeronautical charges and other operational levies for the use of airport facilities and services.
Lawmakers have repeatedly argued that while the IATA settlement structure is global, it should not be used as justification for prolonged delays in remitting monies owed to Nigerian agencies.
The latest directive by the House Committee on Finance forms part of wider National Assembly efforts to strengthen revenue collection, block leakages and shore up government income, especially from strategic sectors such as aviation.
General News
EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over “419”

Economic and Financial Crimes Commission (EFCC,) has declared Halimat Adenike Tejuosho, a women leader of the City Boys Movement, wanted.

Halimat Adenike Tejuosho,
A notice issued by the EFCC on Monday via X said Tejuosho has been declared wanted over an alleged case of obtaining money by false pretence.
The notice was signed by Dele Oyewale, head of Media and Publicity for the EFCC.
The anti-graft agency called on members of the public with useful information about her whereabouts to contact any of its offices nationwide.
The Commission also urged the members of the public to reach out via its official phone lines or email, or report to the nearest police station or other security agencies.
Recall that the City Boy Movement recently appointed Tejuosho as the South-West Zonal Women Leader.
According to a statement signed by the Movement, Tejuosho is to provide strategic leadership and coordination for women-focused activities in the zone, driving political mobilization, civic engagement, and advocacy.
General News
Afreximbank to Fund 3 New Refineries in Nigeria

African Export-Import Bank (Afreximbank) has disclosed plans to finance three additional refineries in Nigeria as part of a broader push to reduce the country’s reliance on imported petroleum products and strengthen local refining capacity.

Denys Denya, senior executive vice president of the bank, made the disclosure on Monday during a virtual media briefing focused on the institution’s 2025 financial performance, crisis response initiatives, and long-term industrialisation strategy.
“We are also financing refining on the continent, which will alleviate the importation of refined products. We are not only supporting Dangote; we’re supporting three other refineries in Nigeria,” Denya said.
The briefing, which focused on the bank’s 2025 financial performance, crisis response initiatives, and industrialisation strategy, also featured a question-and-answer session with journalists across Africa.
Denya explained that the push into refining is driven by recent disruptions in global supply chains, particularly linked to tensions in the Middle East, which have raised the cost and complexity of fuel imports for African economies.
According to him, Afreximbank has adopted a dual approach of supporting immediate trade finance needs while investing in long-term productive capacity to reduce structural import dependence.
He said, “For import-dependent economies, the cost of import is very high… so we have taken a proactive approach of engaging with financial institutions on the continent to increase their facilities so they can issue high-value letters of credit.”
The bank’s intervention is backed by a $10bn Gulf Crisis Response Programme, designed to stabilise access to essential imports such as fuel, food, fertilisers, and pharmaceuticals, while also supporting sectors exposed to global shocks.
Denya noted that the facility is already seeing uptake from countries including Kenya, Ethiopia, and Tanzania, warning that demand could accelerate if geopolitical tensions persist.
Beyond short-term interventions, the Afreximbank executive stressed that financing refining projects across Nigeria and other African countries remains central to the bank’s long-term strategy of industrialisation and export development.
He said the bank’s support for large-scale industrial projects, including the Dangote Group refinery, reflects its commitment to reducing Africa’s reliance on imported refined products and strengthening regional value chains.
“Our support for industrialists who are making a difference on the continent is testimony to this approach. We will continue to champion projects that reduce Africa’s reliance on imported refined products,” he added.
Denya further disclosed that the bank is financing similar refining projects in Angola as part of a continent-wide push to achieve self-sufficiency in petroleum products.
The shift towards local refining, he explained, is also expected to improve macroeconomic stability by reducing foreign exchange pressures associated with fuel imports.
General News
MTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign

The Gathering on 100 has officially concluded its pilot edition, closing out 100 continuous hours of culture, creativity, and community engagement at the National Stadium, Surulere. At the climax of the five-day immersive youth experience, MTN Nigeria and the gatherers of the event unveiled the defining message of the movement: “Live It 100.”

The event brought together thousands of young Nigerians in a massive convergence of music, sports, gaming, and creative sessions. From watching the sunrise for four consecutive mornings to actively shaping culture in real-time, attendees experienced a shared journey rooted in endurance and expression.
Operating under a partnership model rather than a traditional corporate sponsorship, MTN stepped back to let the youth lead. The techo embraced the primary narrative that “The Gathering is the fire; MTN is the oxygen”.
Karl Toriola, Chief Executive Officer, MTN Nigeria, said: “The energy we have witnessed here in Surulere over the past 100 hours is proof of the unstoppable spirit of the Nigerian youth. Our strategic intent was to position MTN as the critical engine behind this vibrant youth movement, ensuring the brand is seen as an enabler, not an intruder. The Gathering is the fire; MTN is the oxygen. ‘Live It 100’ is our commitment to powering the platform where the conversation happens. We are giving them the autonomy to lead, while we listen.”
A focal point of the event was the high-stakes Pitchathon segment, which provided a structured arena for startups to showcase working products. Rather than a traditional, heavily branded corporate event, the space felt authentic, unscripted, and transparent, allowing founders to interact directly with expert judges, potential investors, and a live audience.
Onyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria, shared: “The ideas and partnerships formed over these 100 hours show exactly what happens when corporate Nigeria is finally listening to young Nigerians. We recognise that traditional business engagement doesn’t always work for this generation, which is why we empowered the youth to lead. By supporting The Gathering, we are not just celebrating culture; we are fueling the young Nigerian through youth-led innovation and actively investing in their economic potential.”
Beyond business activity, the event recorded consistent engagement across its programming, providing deep insight into the evolving role of youth within Nigeria’s economy. The sustained 100-hour activity highlighted a growing, resilient base of digitally engaged participants who own their lanes and actively create their own opportunities.
As the event closed, MTN reaffirmed their commitment to expanding the platform, ensuring that The Gathering on 100 will continue to evolve as a vital space for both cultural expression and youth-led economic opportunity.
Telecom1 day agoElon Musk Launches XChat with Video Calling to Take on WhatsApp, Messenger
Telecom1 day agoMTN-Backed Pitchathon Awards ₦45m to Startups @‘Gathering on 100’ in Lagos
Telecom1 day agoHow NITDA Is Transforming Corps Members into Digital Millionaires
Telecom1 day agoGlobacom Unveils Two New TVCs Showcasing the Future of Connectivity
Broadcasting1 day agoSERAP, NGE Sue NBC over Threat to Sanction Broadcasters
E-Financial1 day agoCRMI Backs CBN’s New Measures to Curb Fraud
E-Financial1 day agoSystemically Weak Banks Put Nigeria’s $1Trillion Ambition at Risk
News1 day agoBOI MD, Olasupo Olusi, Charts Tech-Driven Path to Growth for Nigeria



















