Business
NAMA Installs Radar At Abuja, Lagos Airports
As part of efforts to enhance safety and monitoring of aircraft, the Nigerian Airspace Management Agency (NAMA) has installed surface radar system at both the Murtala Muhammed International Airport, Lagos, and the Nnamdi Azikiwe International Airport, Abuja.
The Acting Managing Director, NAMA, Matthew Lawrence Pwajok, made the disclosure during his speech at an event in Abuja.
NAMA in a statement made available to aviation correspondents said the site acceptance tests for the facilities had been completed.
The statement from the NAMA boss noted that newly installed surface movement radar and ground control systems were deployed in Abuja and Lagos airports.
The new systems, it said, “will allow air traffic controllers to monitor aircraft and vehicular movement during low visibility or nighttime conditions, improving safety and efficiency”.
Pwajok said NAMA representatives expressed satisfaction with the radar equipment’s performance and demonstrated confidence in its ability to enhance the agency’s operations.
This development is expected to bolster Nigeria’s aviation industry and ensure seamless air travel for passengers.
“The surface movement radar can be used when aircraft land in poor weather conditions. In most cases the airport is shut down because pilots can’t see and can’t taxi so they would have to wait until there is weather improvement.
“But with the surface movement radar, we can guide aircraft on landing, to the parking gate, and, on departure; we can guide them from the parking gate to the runway for takeoff as everything is displayed on the console.
“The same way the radar sees aircraft in the air, this one will see aircraft and vehicles as they are moving on the ground.
“Surface movement radar would therefore enable the controller to see clearly that the aircraft is in the right link. It would enhance safety on the ground by preventing collisions between aircraft.
“The issue of delaying aircraft by waiting for the weather to improve will be a thing of the past”, he said.
According to the statement, the surface movement radar, would boost Category III Instrument Landing Systems operations.
It also said with CAT III, aircraft can land at zero visibility while the surface movement radar will enable the air traffic controllers to separate and control aircraft to the gate, and those taxiing from the gate to takeoff very efficiently.
“In Lagos, we had a major challenge of the tower being blocked by the Legend Hotel, Executive Jet, and aviation terminal. And that necessitated the deployment of the surface movement radar.
“So, with this, that problem has been solved. It has reduced stress on the air traffic controller as he can now see everything from the console.
“Also in Abuja, the Chinese terminal also blocked the tower and controllers can neither see the international terminal, nor the presidential wing. At the moment we are using the mobile tower to augment the view.
“But with surface movement radar, we won’t need the mobile tower there anymore as every part of the airport is visible from the console”, he stated.
By: Corlins Walter
The Central Bank of Nigeria (CBN) yesterday said 33 banks have met new minimum capital requirements under its recapitalisation programme, raising a combined N4.65 trillion to strengthen the financial system.
The apex bank disclosed this in a statement marking the end of the exercise, which commenced in March 2024 and drew participation from domestic and foreign investors.
The statement was jointly signed by the Director of Banking Supervision, Olubukola Akinwunmi, and the Acting Director of Corporate Communications, Hakama Sidi-Ali.
The statement said “Over the 24-month period, Nigerian banks raised a total of N4.65tn in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.”
The regulator said local investors accounted for 72.55 per cent of the funds, while international investors contributed 27.45 per cent, reflecting continued confidence in the sector.
Commenting on the outcome, the CBN Governor, Olayemi Cardoso, said in the statement, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
It added that while 33 banks have complied with the new thresholds, a few others are still undergoing regulatory and legal processes.
The statement noted, “The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme.
“A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
“All banks remain fully operational, ensuring continued access to banking services for customers.”
The apex bank stressed that the exercise was executed without disrupting banking operations, ensuring uninterrupted access to services nationwide.
It further stated that key prudential indicators have improved, particularly capital adequacy ratios, which remain above global Basel benchmarks.
The minimum ratios were set at 10 per cent for regional and national banks and 15 per cent for banks with international licences.
The bank also said the recapitalisation coincided with a gradual exit from regulatory forbearance, a move it said improved asset quality, strengthened balance sheet transparency, and enhanced overall stability.
To preserve these gains, the CBN said it has reinforced its risk-based supervision framework, mandating periodic stress tests and adequate capital buffers for banks.
It added that supervisory and prudential guidelines would be reviewed regularly to strengthen governance, risk management, and resilience across the sector.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the statement said.
The Tide learnt that foreign capital inflows into Nigeria’s banking sector rose by 93.25 per cent year-on-year to $13.53bn in 2025, up from $7.00bn recorded in 2024, amid the ongoing recapitalisation drive by the Central Bank of Nigeria.
Data from the National Bureau of Statistics capital importation report showed that the banking sector remained the dominant destination for foreign capital, accounting for $13.53bn of the total $23.22bn recorded in 2025, representing 58.26 per cent of total inflows, up from 56.81 per cent in 2024.
The surge reflects heightened investor interest in Nigerian banks as they raised fresh capital to meet new regulatory thresholds introduced by the apex bank, with industry-wide recapitalisation activities driving large-scale inflows across all quarters of the year.
However, the Centre for the Promotion of Private Enterprise (CPPE) recently raised concerns over weak credit flows to small businesses despite recent banking sector reforms.
The CPPE, led by a renowned economist, Dr Muda Yusuf, acknowledged that the ongoing bank recapitalisation exercise by the CBN has strengthened the financial system, but warned that the benefits have yet to translate into meaningful support for the real economy.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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