Travel/Tourism
Foreign Airlines May Abandon Nigeria as Trapped Funds Hit $802m
By Adedapo Adesanya
There are worries in the Nigerian aviation industry as the total amount of foreign airlines’ trapped funds in the country has risen to $802 million from the $743.7 million reported less than a month ago.
The updated figure, which was provided by the International Air Transport Association (IATA), the Switzerland-based trade association of world airlines, showed a 7.8 per cent rise.
IATA warned the Nigerian government that the situation could hamper air connectivity, economic growth, and the development of the country’s aviation sector.
The Director-General of IATA, Mr Willie Walsh, made the disclosure while launching Focus Africa, a new initiative aimed at strengthening aviation’s contribution to Africa’s economic and social development.
The project will also improve connectivity, safety, and reliability for passengers and shippers.
Sounding an ominous warning, Mr Walsh said, “Airlines may be forced to reduce their service in the countries blocking funds; this is a very important issue to airlines and IATA. It is capable of affecting the growth of African aviation.”
On her part, IATA Chairperson-designate and RwandAir Chief Executive Officer, Mrs Yvone Makolo, listed Nigeria as the country with the highest blocked funds in Africa and the world.
According to her, the total amount of blocked funds in Africa is over $1.6 billion, out of which Nigeria has more than 50 per cent, at $802 million, after Algeria which is the country with the highest blocked funds in Africa.
The Regional Vice President for Africa & Middle East, IATA, Mr Kamil Al Awadhi, lamented that 66 per cent of blocked funds were in Africa.
He listed blocked funds as a big issue that could affect the Single African Air Transport Market project and hamper the growth potential of Africa’s aviation sector.
“Blocked funds is one of the biggest issues that will affect aviation. There has been a 10 per cent increase in blocked funds recently. The total amount of blocked funds is huge. This is one of the things we need to address to move forward,” the IATA VP added.
Mr Al Awadhi said IATA had had several engagements with the Nigerian government on the blocked funds, noting that the association would continue discussions with the incoming government due to be inaugurated in May.
By Adedapo Adesanya
The Federal Airports Authority of Nigeria (FAAN) has announced plans to introduce V-Pass, a biometric facial recognition system designed to make passenger processing faster, safer and more seamless across its domestic airports.
According to FAAN, the new technology will allow passengers to verify their identities through facial recognition after a one-time enrolment, reducing reliance on physical identification documents and shortening queues through automated electronic gates.
The authority said the system is expected to enhance airport security while improving the overall travel experience for domestic passengers.
FAAN added that V-Pass has been developed with data privacy at its core and is compliant with the Nigeria Data Protection Regulation (NDPR).
The agency described the initiative as part of its commitment to delivering smarter, technology-driven airport services and said nationwide sensitisation and rollout updates would be announced in due course.
Airports in countries including the United States, the United Kingdom, Singapore and the United Arab Emirates already deploy facial recognition technology for processes such as check-in, security screening, immigration and boarding, so the move also aligns Nigeria’s aviation sector with a growing global trend towards contactless travel.
These systems have been adopted to improve operational efficiency, strengthen security and enhance the overall passenger experience.
For FAAN, the deployment of V-Pass forms part of its broader digital transformation agenda aimed at modernising airport operations and accommodating rising passenger traffic.
Experts say that beyond improving convenience, the authority expects the biometric platform to strengthen identity verification, reduce the risk of impersonation and support more efficient airport security, while maintaining compliance with data protection.
By Aduragbemi Omiyale
About 14.12 per cent stake in Ikeja Hotel Plc has been acquired by Honeywell Group Limited, a notice on the Nigerian Exchange (NGX) Limited has revealed.
Honeywell Group took up the part of the hospitality firm through one of its affiliates known as HGL Real Estate Limited.
Ikeja Hotel, in the disclosure filed with the NGX on July 2, 2026, said the stake comprised 305,323,525 units of its equities.
“Ikeja Hotel hereby notifies the Nigerian Exchange Limited and the general public that it has received notification from HGL Real Estate Limited, an affiliate of Honeywell Group Limited, that it has acquired 305,323,525 units of Ikeja Hotel Plc’s shares, representing 14.12 per cent shareholding in the company,” the notice stated.
Ikeja Hotel is one of Nigeria’s leading hospitality investment and hotel management companies with premium hospitality assets.
It operates two leading hospitality organisations in Lagos, the Sheraton Lagos Hotel and Balmoral Convention Centre.
By Aduragbemi Omiyale
About 10 hospitality establishments, including hotels and restaurants, were sealed on Wednesday by officials of the Lagos State Environmental Protection Agency (LASEPA).
The affected businesses are located in different locations in the Alimosho Local Government Area of the metropolis, Business Post learned from a statement from the agency.
It was stated that they were sealed by LASEPA for persistent violations of environmental regulations despite repeated warnings, abatement notices, and several opportunities to comply with the agency’s directives.
According to the notice, the enforcement exercise was carried out in line with the directives of the Lagos State government to ensure strict compliance with environmental laws and to safeguard public health.
The affected facilities were said to have breached various environmental regulations, including noise pollution, air pollution, unlawful discharge of untreated effluent, obstruction of official duties, among others.
LASEPA closed the premises of Granduer Meridian at Obasa Akiniyi Street, Oluwaga, Ipaja for non-compliance with the agency’s directives; Lasola (Spazio Bar), located on Ipaja Road, Fatolu Bus Stop, Ipaja, was sealed for noise pollution and non-compliance with directives; Millennium Restaurant, located at Gate Bus Stop, Ipaja, Ayobo, was shut down for non-compliance with directives; O2 Exquisite Suites & Tower on Jimoh Akinremi Street, Jimoh Bus Stop, Akowonjo, was sealed for non-compliance with directives; and Chirozz Hotel & Suites, located on Samuel Street, Akowonjo, by Vulcanizer Bus Stop, Egbeda, was closed for noise pollution and non-compliance with directives.
In addition, House 7 Hotel, located at Remi Akande Street, Egbeda, was sealed for non-compliance with LASEPA’s directives; House 48 on Isiba Oluwo Street, Egbeda, was sealed for non-compliance with directives; Exclusive Hotel, located at Ishan Kimishe, Akesan Bus Stop, was shut down by non-compliance with directives; Sabola Ventures Limited, Iocated at Km 11, LASU–Isheri Road, Igando, was shut down for operating without evidence of an Effluent Treatment Plant (ETP), and discharging untreated effluent into public drains; and City Int’l Motel, located at Chief Olu-Adegbite Street, off Oladun Street, Council Bus Stop, Idimu, was sealed for non-compliance with directives.
