Business
NCAA Grounds Chanchangi Airlines
The Nigerian Civil Aviation Authority on Monday grounded Chanchangi Airlines over inadequate aircraft to carry on its services.
The decision was said to be in line with the Federal Government‘s policy of not allowing airlines with one plane to operate in the country.
Chanchangi, which used to have about six planes, is currently left with only one due to lack of money to receive the four aircraft it sent overseas for scheduled maintenance.
Two weeks ago, the airline had suspended operations to fix its only aircraft that was damaged by bird strike recently.
The plane came back to operations last week but was later suspended on Monday by NCAA.
The Federal Government had in 2001, after the crash of the EAS BAC1-11 aircraft in Gwarmaja, Kano, banned lone aircraft owners, citing lack of back-up as reason.
Chanchangi Airline, like other domestic carriers, has been struggling due to financial challenges.
The develoment had prevented it and other local carriers from acquiring more aircraft, as well as collecting those sent out for maintenance.
Most of the domestic airlines are heavily indebted to banks.
An officer of the airline, who spoke on condition of anonymity, confirmed the development to our source on Monday.
NCAA was said to have discovered that the airline had only one plane during a routine check.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
Business
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