Business
NCAA Dismisses Airlines Fold Up Claims
The Nigerian Civil Aviation Authority (NCAA), has dismissed claims that some airlines were winding down their operations in the country.
The authority dismissed the claims in a statement signed by the NCAA Director General, Capt. Muhtar Usman, in Lagos, yesterday.
Usman said on the contrary, the airlines were merely suspending their operations temporarily to enable them undertake certain operational overhaul and strengthen their overall operational outlay.
“One of the airlines, Aero Contractors Ltd., at present has only one serviceable aircraft.
“This is in contradiction to the Nigerian Civil Aviation Regulations (Nig.CARS) which stipulates that no airlines operator shall carry out schedule commercial operation with only one aircraft.
“The minimum acceptable number is three aircraft.
“In other words, any airlines with one aircraft is in contravention of the NCAA regulations, therefore cannot be adjudged to be capable of providing safe operation.
“The only option available for such airlines is to suspend its operations temporarily while other aircraft arrive in due course,” he said.
Usman, however, said that NCAAs Regulations provided a window for such operator to embark on non schedule operations in the interim.
He explained further that the First Nation Airlines on its part was in the middle of an Engine Replacement Programme for one of its aircraft.
“Another aircraft is due for mandatory maintenance as is allowable by NCAA.
“In these circumstances, these airlines clearly cannot continue to undertake schedule operations, hence the inevitable recourse to self regulatory suspension.”
The director general said NCAA wished to reiterate that on no account would it compromise safety and security of airlines operations in the airspace.
Usman explained that every facet of the Nigerian Civil Aviation Regulations (Nig.CARS) and Standard and Recommended Practices (SARPs) must be adhered to with due diligence.
He explained that everything had been put in place to continue ensuring compliance.
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.
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